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

State Street Co. (NYSE:STT) has been assigned a consensus recommendation of “Hold” from the fifteen research firms that are presently covering the firm, Marketbeat Ratings reports. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and seven have issued a buy rating on the company. The average 12-month price target among brokerages that have covered the stock in the last year is $101.20.

A number of equities research analysts recently weighed in on the stock. Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a $103.00 price objective (down from $104.00) on shares of State Street in a research note on Wednesday, January 22nd. Wolfe Research upgraded shares of State Street from an “underperform” rating to a “peer perform” rating in a research note on Monday, January 27th. JPMorgan Chase & Co. upgraded shares of State Street from an “underweight” rating to a “neutral” rating and set a $95.00 price objective on the stock in a research note on Friday, December 20th. Keefe, Bruyette & Woods upgraded shares of State Street from a “market perform” rating to an “outperform” rating and lifted their price objective for the company from $105.00 to $120.00 in a research note on Tuesday, December 3rd. Finally, Morgan Stanley cut their price objective on shares of State Street from $142.00 to $139.00 and set an “overweight” rating on the stock in a research note on Thursday, March 6th.

Insider Buying and Selling at State Street

In related news, EVP Ann Fogarty sold 3,705 shares of the business’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 value of $368,536.35. Following the completion of the sale, the executive vice president now owns 50,816 shares of the company’s stock, valued at approximately $5,054,667.52. The trade was a 6.80 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Gregory L. Summe sold 10,815 shares of the business’s stock in a transaction that occurred on 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 sale, the director now directly owns 100,023 shares of the company’s stock, valued at approximately $10,002,300. The trade was a 9.76 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.31% of the company’s stock.

Institutional Investors Weigh In On State Street

Several large investors have recently made changes to their positions in STT. Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in State Street in the 4th quarter worth approximately $30,624,000. Integrated Advisors Network LLC acquired a new stake in State Street in the 4th quarter worth approximately $207,000. Aurdan Capital Management LLC acquired a new stake in State Street in the 4th quarter worth approximately $5,515,000. Forum Financial Management LP lifted its holdings in State Street by 5.5% in the 4th quarter. Forum Financial Management LP now owns 4,483 shares of the asset manager’s stock worth $440,000 after purchasing an additional 232 shares during the last quarter. Finally, Toronto Dominion Bank lifted its holdings in State Street by 4.4% in the 4th quarter. Toronto Dominion Bank now owns 162,126 shares of the asset manager’s stock worth $15,912,000 after purchasing an additional 6,907 shares during the last quarter. Institutional investors own 87.44% of the company’s stock.

State Street Stock Performance

Shares of STT opened at $86.90 on Tuesday. State Street has a 1 year low of $70.20 and a 1 year high of $103.00. The company has a market cap of $25.07 billion, a price-to-earnings ratio of 10.55, a price-to-earnings-growth ratio of 1.11 and a beta of 1.44. The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.56 and a current ratio of 0.56. The firm has a fifty day moving average of $96.69 and a 200-day moving average of $94.10.

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

State Street Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 11th. Shareholders of record on Tuesday, April 1st will be paid a dividend of $0.76 per share. The ex-dividend date of this dividend is Tuesday, April 1st. This represents a $3.04 annualized dividend and a yield of 3.50%. State Street’s dividend payout ratio (DPR) is presently 36.89%.

About State Street

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.