State Street Co. (NYSE:STT) Receives Average Rating of “Hold” from Brokerages

Shares of State Street Co. (NYSE:STT) have received an average rating of “Hold” from the fifteen analysts that are covering the company, MarketBeat reports. One investment analyst has rated the stock with a sell recommendation, seven have given a hold recommendation and seven have issued a buy recommendation on the company. The average 1 year price objective among brokers that have updated their coverage on the stock in the last year is $100.73.

Several brokerages recently commented on STT. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a $103.00 price target (down previously from $104.00) on shares of State Street in a research report on Wednesday, January 22nd. Keefe, Bruyette & Woods upgraded shares of State Street from a “market perform” rating to an “outperform” rating and boosted their price objective for the stock from $105.00 to $120.00 in a research note on Tuesday, December 3rd. Wolfe Research upgraded shares of State Street from an “underperform” rating to a “peer perform” rating in a research note on Monday, January 27th. Barclays boosted their price objective on shares of State Street from $108.00 to $127.00 and gave the stock an “overweight” rating in a research note on Monday, January 6th. Finally, Morgan Stanley decreased their price objective on shares of State Street from $139.00 to $132.00 and set an “overweight” rating for the company in a research note on Friday, January 3rd.

Insiders Place Their Bets

In related news, EVP Kathryn M. Horgan sold 12,500 shares of the stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $97.97, for a total value of $1,224,625.00. Following the sale, the executive vice president now owns 111,042 shares of the company’s stock, valued at $10,878,784.74. This trade represents a 10.12 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.31% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On State Street

Institutional investors and hedge funds have recently bought and sold shares of the stock. Albion Financial Group UT bought a new position in State Street in the 4th quarter valued at about $25,000. Y.D. More Investments Ltd boosted its position in shares of State Street by 116.6% during the 4th quarter. Y.D. More Investments Ltd now owns 366 shares of the asset manager’s stock valued at $36,000 after purchasing an additional 197 shares in the last quarter. Kohmann Bosshard Financial Services LLC bought a new position in shares of State Street during the 4th quarter valued at about $42,000. Coastline Trust Co bought a new position in shares of State Street during the 3rd quarter valued at about $44,000. Finally, Loomis Sayles & Co. L P boosted its position in shares of State Street by 187.3% during the 4th quarter. Loomis Sayles & Co. L P now owns 477 shares of the asset manager’s stock valued at $47,000 after purchasing an additional 311 shares in the last quarter. Institutional investors own 87.44% of the company’s stock.

State Street Stock Performance

NYSE:STT opened at $99.05 on Friday. The firm has a 50 day simple moving average of $98.56 and a 200-day simple moving average of $92.05. The company has a debt-to-equity ratio of 1.03, a current ratio of 0.56 and a quick ratio of 0.56. The firm has a market cap of $29.04 billion, a PE ratio of 12.02, a P/E/G ratio of 1.12 and a beta of 1.43. State Street has a 1-year low of $70.20 and a 1-year high of $103.00.

State Street (NYSE:STT) last posted its quarterly earnings data on Friday, January 17th. The asset manager reported $2.60 earnings per share for the quarter, beating analysts’ consensus estimates of $2.29 by $0.31. State Street had a net margin of 12.14% and a return on equity of 12.60%. The business had revenue of $3.41 billion during the quarter, compared to analyst estimates of $3.27 billion. During the same quarter in the previous year, the business posted $2.04 earnings per share. The company’s revenue was up 12.1% on a year-over-year basis. On average, equities analysts expect that State Street will post 9.6 EPS for the current year.

State Street Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, January 13th. Shareholders of record on Thursday, January 2nd were issued a dividend of $0.76 per share. The ex-dividend date of this dividend was Thursday, January 2nd. This represents a $3.04 dividend on an annualized basis and a dividend yield of 3.07%. State Street’s dividend payout ratio (DPR) is 36.89%.

State Street Company Profile

State Street Corporation, through its subsidiaries, provides a range of financial products and services to institutional investors worldwide. The company offers investment servicing products and services, including custody, accounting, regulatory reporting, investor, and performance and analytics; middle office products, such as IBOR, transaction management, loans, cash, derivatives and collateral, record keeping, and client reporting and investment analytics; finance leasing; foreign exchange, and brokerage and other trading services; securities finance and enhanced custody products; deposit and short-term investment facilities; investment manager and alternative investment manager operations outsourcing; performance, risk, and compliance analytics; and financial data management to support institutional investors.