Barclays Forecasts Strong Price Appreciation for State Street (NYSE:STT) Stock

State Street (NYSE:STT) had its price objective lifted by Barclays from $108.00 to $127.00 in a research report report published on Monday morning,Benzinga reports. Barclays currently has an overweight rating on the asset manager’s stock.

Other research analysts have also issued research reports about the company. The Goldman Sachs Group boosted their target price on State Street from $98.00 to $100.00 and gave the company a “buy” rating in a report on Thursday, September 26th. Morgan Stanley dropped their price objective on shares of State Street from $139.00 to $132.00 and set an “overweight” rating on the stock in a research note on Friday, January 3rd. Wells Fargo & Company raised their target price on shares of State Street from $108.00 to $118.00 and gave the stock an “overweight” rating in a research note on Thursday, January 2nd. JPMorgan Chase & Co. upgraded shares of State Street from an “underweight” rating to a “neutral” rating and set a $95.00 price target on the stock in a research note on Friday, December 20th. Finally, Keefe, Bruyette & Woods upgraded shares of State Street from a “market perform” rating to an “outperform” rating and raised their price objective for the company from $105.00 to $120.00 in a research report on Tuesday, December 3rd. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $100.33.

State Street Stock Down 0.0 %

Shares of NYSE:STT opened at $97.68 on Monday. State Street has a 1-year low of $70.20 and a 1-year high of $101.91. The company has a debt-to-equity ratio of 0.91, a current ratio of 0.56 and a quick ratio of 0.56. The stock has a market cap of $28.63 billion, a P/E ratio of 15.43, a P/E/G ratio of 1.24 and a beta of 1.43. The firm has a fifty day moving average price of $97.29 and a 200 day moving average price of $88.47.

State Street (NYSE:STT) last announced its earnings results on Tuesday, October 15th. The asset manager reported $2.26 earnings per share for the quarter, topping the consensus estimate of $2.12 by $0.14. The business had revenue of $3.26 billion during the quarter, compared to the consensus estimate of $3.19 billion. State Street had a net margin of 9.87% and a return on equity of 12.02%. The business’s quarterly revenue was up 21.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.93 earnings per share. Sell-side analysts predict that State Street will post 8.42 EPS for the current year.

State Street Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, January 13th. Investors of record on Thursday, January 2nd will be given a $0.76 dividend. The ex-dividend date of this dividend is Thursday, January 2nd. This represents a $3.04 annualized dividend and a dividend yield of 3.11%. State Street’s dividend payout ratio is presently 48.03%.

Insider Buying and Selling at State Street

In related news, EVP John Plansky sold 13,859 shares of the stock in a transaction on Friday, October 18th. The stock was sold at an average price of $91.32, for a total transaction of $1,265,603.88. Following the sale, the executive vice president now owns 55,108 shares of the company’s stock, valued at $5,032,462.56. This trade represents a 20.10 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Kathryn M. Horgan sold 12,500 shares of the business’s stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $97.97, for a total transaction of $1,224,625.00. Following the completion of the transaction, the executive vice president now directly owns 111,042 shares of the company’s stock, valued at $10,878,784.74. The trade was a 10.12 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 26,460 shares of company stock worth $2,499,860. 0.31% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On State Street

A number of hedge funds and other institutional investors have recently modified their holdings of the company. InvesTrust acquired a new stake in State Street during the fourth quarter worth approximately $742,000. Neville Rodie & Shaw Inc. raised its holdings in State Street by 337.3% in the 4th quarter. Neville Rodie & Shaw Inc. now owns 18,150 shares of the asset manager’s stock valued at $1,782,000 after acquiring an additional 14,000 shares during the last quarter. Nordea Investment Management AB lifted its stake in shares of State Street by 21.2% during the 4th quarter. Nordea Investment Management AB now owns 2,180,504 shares of the asset manager’s stock worth $214,998,000 after purchasing an additional 381,260 shares during the period. GAMMA Investing LLC boosted its holdings in shares of State Street by 28.4% during the fourth quarter. GAMMA Investing LLC now owns 3,202 shares of the asset manager’s stock worth $314,000 after purchasing an additional 709 shares during the last quarter. Finally, Versant Capital Management Inc grew its position in shares of State Street by 37.0% in the fourth quarter. Versant Capital Management Inc now owns 730 shares of the asset manager’s stock valued at $72,000 after purchasing an additional 197 shares during the period. 87.44% of the stock is currently owned by hedge funds and other 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.