State Street (NYSE:STT) Price Target Lowered to $100.00 at Citigroup

State Street (NYSE:STT) had its price objective trimmed by Citigroup from $105.00 to $100.00 in a report released on Monday morning,Benzinga reports. The firm currently has a neutral rating on the asset manager’s stock.

STT has been the topic of several other reports. Barclays upped their price target on shares of State Street from $108.00 to $127.00 and gave the company an “overweight” rating in a report on Monday, January 6th. Wells Fargo & Company increased their target price on State Street from $108.00 to $118.00 and gave the stock an “overweight” rating in a report on Thursday, January 2nd. Truist Financial decreased their price target on shares of State Street from $106.00 to $104.00 and set a “hold” rating for the company in a report on Tuesday, January 21st. Morgan Stanley lowered their price objective on shares of State Street from $142.00 to $139.00 and set an “overweight” rating for the company in a research report on Thursday, March 6th. Finally, Keefe, Bruyette & Woods upgraded State Street from a “market perform” rating to an “outperform” rating and boosted their price objective for the company from $105.00 to $120.00 in a research report on Tuesday, December 3rd. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, State Street currently has an average rating of “Hold” and a consensus price target of $101.87.

State Street Price Performance

STT stock opened at $92.87 on Monday. The company has a market cap of $26.79 billion, a PE ratio of 11.27, a price-to-earnings-growth ratio of 1.11 and a beta of 1.44. The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 1.03. The stock has a 50-day moving average price of $95.90 and a two-hundred day moving average price of $94.33. State Street has a 12-month low of $70.20 and a 12-month high of $103.00.

State Street (NYSE:STT) last issued its quarterly earnings data on Friday, January 17th. The asset manager reported $2.60 EPS for the quarter, topping analysts’ consensus estimates of $2.29 by $0.31. The company had revenue of $3.41 billion for the quarter, compared to analysts’ expectations of $3.27 billion. State Street had a return on equity of 12.60% and a net margin of 12.14%. The firm’s quarterly revenue was up 12.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.04 earnings per share. As a group, research analysts predict that State Street will post 9.68 EPS for the current year.

State Street Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, April 11th. Investors of record on Tuesday, April 1st will be paid a $0.76 dividend. The ex-dividend date of this dividend is Tuesday, April 1st. This represents a $3.04 dividend on an annualized basis and a yield of 3.27%. State Street’s payout ratio is presently 36.89%.

Insider Activity

In related news, Director Gregory L. Summe sold 10,815 shares of the stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $100.00, for a total value of $1,081,500.00. Following the completion of the transaction, the director now owns 100,023 shares of the company’s stock, valued at $10,002,300. This represents a 9.76 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Ann Fogarty sold 3,705 shares of State Street stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $99.47, for a total value of $368,536.35. Following the sale, the executive vice president now directly owns 50,816 shares in the company, valued at $5,054,667.52. The trade was a 6.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.31% of the stock is owned by company insiders.

Institutional Investors Weigh In On State Street

A number of large investors have recently bought and sold shares of STT. Albion Financial Group UT bought a new stake in shares of State Street during the fourth quarter worth $25,000. Y.D. More Investments Ltd grew its holdings in State Street by 116.6% during the 4th quarter. Y.D. More Investments Ltd now owns 366 shares of the asset manager’s stock worth $36,000 after acquiring an additional 197 shares during the last quarter. Kohmann Bosshard Financial Services LLC acquired a new stake in State Street in the 4th quarter valued at about $42,000. Coppell Advisory Solutions LLC raised its stake in shares of State Street by 2,942.9% in the fourth quarter. Coppell Advisory Solutions LLC now owns 426 shares of the asset manager’s stock worth $42,000 after acquiring an additional 412 shares during the last quarter. Finally, Loomis Sayles & Co. L P lifted its holdings in State Street by 187.3% during the 4th quarter. Loomis Sayles & Co. L P now owns 477 shares of the asset manager’s stock worth $47,000 after buying an additional 311 shares in the last quarter. 87.44% of the stock is currently owned by institutional investors.

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.