State Street Co. (NYSE:STT) Given Average Recommendation of “Hold” by Analysts

Shares of State Street Co. (NYSE:STT) have earned a consensus recommendation of “Hold” from the fifteen analysts that are presently covering the stock, MarketBeat.com reports. One equities research analyst has rated the stock with a sell recommendation, seven have issued a hold recommendation and seven have issued a buy recommendation on the company. The average 12-month price target among brokerages that have covered the stock in the last year is $101.07.

Several research firms have issued reports on STT. Bank of America boosted their price objective on shares of State Street from $98.00 to $99.00 and gave the stock an “underperform” rating in a research note on Wednesday. Barclays increased their price target on State Street from $108.00 to $127.00 and gave the company an “overweight” rating in a report on Monday, January 6th. Truist Financial reduced their price objective on State Street from $104.00 to $89.00 and set a “hold” rating on the stock in a research note on Friday. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and issued a $103.00 price objective (down previously from $104.00) on shares of State Street in a research report on Wednesday, January 22nd. Finally, Wolfe Research raised shares of State Street from an “underperform” rating to a “peer perform” rating in a report on Monday, January 27th.

Insiders Place Their Bets

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

Institutional Trading of State Street

Several hedge funds have recently bought and sold shares of STT. Invesco Ltd. increased its stake in shares of State Street by 5.7% in the fourth quarter. Invesco Ltd. now owns 7,510,570 shares of the asset manager’s stock valued at $737,162,000 after purchasing an additional 406,396 shares during the period. Geode Capital Management LLC boosted its position in State Street by 0.3% during the 4th quarter. Geode Capital Management LLC now owns 7,193,687 shares of the asset manager’s stock worth $704,238,000 after acquiring an additional 24,617 shares during the period. FMR LLC boosted its position in State Street by 14.2% during the 4th quarter. FMR LLC now owns 6,983,607 shares of the asset manager’s stock worth $685,441,000 after acquiring an additional 870,849 shares during the period. Amundi increased its holdings in shares of State Street by 11.1% during the fourth quarter. Amundi now owns 5,602,547 shares of the asset manager’s stock valued at $547,636,000 after purchasing an additional 561,773 shares during the period. Finally, Northern Trust Corp increased its holdings in shares of State Street by 15.7% during the fourth quarter. Northern Trust Corp now owns 4,148,410 shares of the asset manager’s stock valued at $407,166,000 after purchasing an additional 563,790 shares during the period. 87.44% of the stock is currently owned by institutional investors.

State Street Trading Down 8.0 %

STT stock opened at $76.23 on Friday. The company has a quick ratio of 0.56, a current ratio of 0.56 and a debt-to-equity ratio of 1.03. The company has a market cap of $21.99 billion, a price-to-earnings ratio of 9.25, a PEG ratio of 1.11 and a beta of 1.42. The business has a fifty day simple moving average of $94.09 and a 200-day simple moving average of $94.47. State Street has a 52 week low of $70.20 and a 52 week high of $103.00.

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

State Street Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, April 11th. Investors of record on Tuesday, April 1st will be given a dividend of $0.76 per share. This represents a $3.04 annualized dividend and a dividend yield of 3.99%. The ex-dividend date is Tuesday, April 1st. State Street’s dividend payout ratio is currently 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.