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

State Street Co. (NYSE:STT - Get Free Report) has earned a consensus recommendation of "Hold" from the thirteen ratings firms that are presently covering the company, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, six have issued a hold recommendation and six have given a buy recommendation to the company. The average 1-year price objective among brokerages that have issued a report on the stock in the last year is $102.15.

Several research analysts have issued reports on STT shares. Barclays cut their price objective on State Street from $127.00 to $120.00 and set an "overweight" rating for the company in a research report on Monday, April 21st. StockNews.com downgraded shares of State Street from a "buy" rating to a "hold" rating in a report on Friday, March 7th. Evercore ISI decreased their price objective on shares of State Street from $109.00 to $106.00 and set an "outperform" rating on the stock in a report on Tuesday, April 1st. The Goldman Sachs Group set a $98.00 price target on shares of State Street and gave the company a "buy" rating in a research report on Thursday, April 17th. Finally, Wells Fargo & Company lowered their price target on State Street from $118.00 to $113.00 and set an "overweight" rating on the stock in a report on Friday, March 28th.

Insider Activity

In related news, Director Gregory L. Summe sold 10,815 shares of the company's stock in a transaction 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 transaction, the director now directly owns 100,023 shares in the company, valued at approximately $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 can be accessed through the SEC website. Also, EVP Ann Fogarty sold 3,705 shares of the firm's stock in a transaction dated 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 directly owns 50,816 shares in the company, valued at approximately $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. Company insiders own 0.29% of the company's stock.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. Bank of New York Mellon Corp grew its holdings in State Street by 6.0% in the first quarter. Bank of New York Mellon Corp now owns 2,186,569 shares of the asset manager's stock valued at $195,764,000 after purchasing an additional 123,259 shares during the period. Wayfinding Financial LLC acquired a new position in shares of State Street in the 1st quarter valued at $49,000. Eukles Asset Management grew its stake in shares of State Street by 7.0% during the 1st quarter. Eukles Asset Management now owns 32,369 shares of the asset manager's stock valued at $2,898,000 after buying an additional 2,122 shares during the period. Pacific Heights Asset Management LLC increased its holdings in shares of State Street by 9.1% during the 1st quarter. Pacific Heights Asset Management LLC now owns 60,000 shares of the asset manager's stock worth $5,372,000 after buying an additional 5,000 shares during the last quarter. Finally, IFM Investors Pty Ltd raised its position in shares of State Street by 10.1% in the 1st quarter. IFM Investors Pty Ltd now owns 65,427 shares of the asset manager's stock worth $5,788,000 after buying an additional 5,993 shares during the period. 87.44% of the stock is currently owned by hedge funds and other institutional investors.

State Street Stock Up 1.2 %

STT stock opened at $88.61 on Wednesday. State Street has a one year low of $70.20 and a one year high of $103.00. 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 company has a fifty day moving average of $87.35 and a 200-day moving average of $93.65. The stock has a market capitalization of $25.57 billion, a PE ratio of 10.75, a price-to-earnings-growth ratio of 1.11 and a beta of 1.42.

State Street (NYSE:STT - Get Free Report) last announced its quarterly earnings data on Thursday, April 17th. The asset manager reported $2.04 earnings per share for the quarter, beating analysts' consensus estimates of $1.98 by $0.06. The company had revenue of $3.28 billion for the quarter, compared to analyst estimates of $3.30 billion. State Street had a return on equity of 12.60% and a net margin of 12.14%. During the same quarter in the previous year, the company earned $1.69 EPS. As a group, 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 was paid on Friday, April 11th. Stockholders of record on Tuesday, April 1st were issued a dividend of $0.76 per share. The ex-dividend date was Tuesday, April 1st. This represents a $3.04 dividend on an annualized basis and a dividend yield of 3.43%. State Street's dividend payout ratio (DPR) is presently 34.12%.

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.

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