State Street Co. (NYSE:STT) Receives $102.15 Average PT from Analysts

State Street Co. (NYSE:STT - Get Free Report) has earned an average recommendation of "Hold" from the thirteen brokerages that are covering the firm, Marketbeat.com reports. One investment analyst has rated the stock with a sell recommendation, five have issued a hold recommendation and seven have issued a buy recommendation on the company. The average 12 month target price among brokerages that have covered the stock in the last year is $104.23.

A number of research analysts have recently commented on STT shares. Wells Fargo & Company cut their price objective on shares of State Street from $118.00 to $113.00 and set an "overweight" rating for the company in a research report on Friday, March 28th. Citigroup cut their price objective on shares of State Street from $105.00 to $100.00 and set a "neutral" rating for the company in a research report on Monday, March 24th. Truist Financial raised shares of State Street from a "hold" rating to a "buy" rating and increased their price target for the stock from $85.00 to $112.00 in a research report on Wednesday. Barclays dropped their price target on shares of State Street from $127.00 to $120.00 and set an "overweight" rating for the company in a research report on Monday, April 21st. Finally, Bank of America increased their price target on shares of State Street from $98.00 to $99.00 and gave the stock an "underperform" rating in a research report on Wednesday, April 2nd.

Insider Activity

In other State Street news, CAO Elizabeth Schaefer sold 1,300 shares of the firm's stock in a transaction that occurred on Tuesday, May 6th. The shares were sold at an average price of $90.72, for a total value of $117,936.00. Following the transaction, the chief accounting officer now directly owns 7,354 shares of the company's stock, valued at approximately $667,154.88. This trade represents a 15.02% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.29% of the stock is owned by insiders.

Hedge Funds Weigh In On State Street

Hedge funds and other institutional investors have recently bought and sold shares of the business. Merit Financial Group LLC acquired a new stake in State Street in the fourth quarter worth $395,000. Atomi Financial Group Inc. raised its holdings in shares of State Street by 9.9% during the fourth quarter. Atomi Financial Group Inc. now owns 3,366 shares of the asset manager's stock worth $330,000 after acquiring an additional 302 shares during the period. SG Americas Securities LLC raised its holdings in shares of State Street by 569.1% during the fourth quarter. SG Americas Securities LLC now owns 16,861 shares of the asset manager's stock worth $1,655,000 after acquiring an additional 14,341 shares during the period. Janney Montgomery Scott LLC raised its holdings in shares of State Street by 11.1% during the fourth quarter. Janney Montgomery Scott LLC now owns 74,268 shares of the asset manager's stock worth $7,289,000 after acquiring an additional 7,446 shares during the period. Finally, Mutual Advisors LLC acquired a new stake in shares of State Street during the fourth quarter worth $207,000. 87.44% of the stock is owned by institutional investors.

State Street Stock Performance

STT stock traded up $0.17 during mid-day trading on Friday, reaching $97.02. 1,389,717 shares of the stock traded hands, compared to its average volume of 2,137,715. The company has a quick ratio of 0.56, a current ratio of 0.56 and a debt-to-equity ratio of 1.03. State Street has a 52 week low of $70.20 and a 52 week high of $103.00. The business has a 50-day moving average of $88.71 and a two-hundred day moving average of $93.98. The firm has a market capitalization of $27.67 billion, a PE ratio of 11.77, a P/E/G 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 EPS for the quarter, beating analysts' consensus estimates of $1.98 by $0.06. The business had revenue of $3.28 billion during the quarter, compared to analyst estimates of $3.30 billion. State Street had a net margin of 12.14% and a return on equity of 12.60%. During the same quarter in the prior year, the business earned $1.69 earnings per share. As a group, equities analysts predict that State Street will post 9.68 EPS for the current fiscal year.

State Street Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, July 11th. Stockholders of record on Tuesday, July 1st will be paid a dividend of $0.76 per share. The ex-dividend date of this dividend is Tuesday, July 1st. This represents a $3.04 annualized dividend and a dividend yield of 3.13%. State Street's dividend payout ratio (DPR) is currently 34.12%.

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.