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

State Street Co. (NYSE:STT - Get Free Report) has received a consensus recommendation of "Hold" from the thirteen ratings firms that are covering the firm, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, five have assigned a hold recommendation and seven have issued a buy recommendation on the company. The average twelve-month price target among brokerages that have covered the stock in the last year is $104.23.

Several research firms have weighed in on STT. Wells Fargo & Company cut their target price on shares of State Street from $118.00 to $113.00 and set an "overweight" rating on the stock in a report on Friday, March 28th. Truist Financial upgraded shares of State Street from a "hold" rating to a "buy" rating and upped their price target for the company from $85.00 to $112.00 in a research note on Wednesday. Morgan Stanley cut their price objective on shares of State Street from $139.00 to $132.00 and set an "overweight" rating for the company in a report on Wednesday, April 2nd. Barclays dropped their price objective on shares of State Street from $127.00 to $120.00 and set an "overweight" rating for the company in a research note on Monday, April 21st. Finally, Keefe, Bruyette & Woods decreased their price target on shares of State Street from $118.00 to $113.00 and set an "outperform" rating for the company in a research report on Monday, April 21st.

State Street Trading Up 0.0%

NYSE STT traded up $0.01 on Friday, hitting $97.44. 815,352 shares of the stock were exchanged, compared to its average volume of 2,129,740. The company has a debt-to-equity ratio of 1.03, a current ratio of 0.56 and a quick ratio of 0.56. State Street has a 52-week low of $70.20 and a 52-week high of $103.00. The company's 50-day moving average price is $88.50 and its two-hundred day moving average price is $93.95. The company has a market capitalization of $27.79 billion, a price-to-earnings ratio of 11.83, a P/E/G ratio of 1.11 and a beta of 1.42.

State Street (NYSE:STT - Get Free Report) last posted its quarterly earnings data on Thursday, April 17th. The asset manager reported $2.04 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.98 by $0.06. State Street had a net margin of 12.14% and a return on equity of 12.60%. The company had revenue of $3.28 billion for the quarter, compared to the consensus estimate of $3.30 billion. During the same quarter in the previous year, the firm posted $1.69 EPS. Research analysts predict that State Street will post 9.68 EPS for the current year.

State Street Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, July 11th. Investors of record on Tuesday, July 1st will be given a dividend of $0.76 per share. The ex-dividend date is Tuesday, July 1st. This represents a $3.04 annualized dividend and a yield of 3.12%. State Street's dividend payout ratio is presently 34.12%.

Insider Buying and Selling at State Street

In other news, CAO Elizabeth Schaefer sold 1,300 shares of the business'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 sale, the chief accounting officer now directly owns 7,354 shares of the company's stock, valued at approximately $667,154.88. The trade was a 15.02% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.29% of the company's stock.

Institutional Trading of State Street

A number of large investors have recently bought and sold shares of the business. Jacobi Capital Management LLC increased its holdings in State Street by 7.8% during the 1st quarter. Jacobi Capital Management LLC now owns 13,189 shares of the asset manager's stock valued at $1,181,000 after acquiring an additional 957 shares in the last quarter. Geneos Wealth Management Inc. raised its position in State Street by 23.6% in the first quarter. Geneos Wealth Management Inc. now owns 1,234 shares of the asset manager's stock worth $110,000 after acquiring an additional 236 shares in the last quarter. IFM Investors Pty Ltd raised its position in State Street by 10.2% in the first quarter. IFM Investors Pty Ltd now owns 65,518 shares of the asset manager's stock worth $5,866,000 after acquiring an additional 6,084 shares in the last quarter. Ransom Advisory Ltd acquired a new stake in State Street during the 1st quarter worth about $190,000. Finally, Bayforest Capital Ltd raised its holdings in State Street by 99.1% during the 1st quarter. Bayforest Capital Ltd now owns 3,397 shares of the asset manager's stock worth $304,000 after buying an additional 1,691 shares during the period. Institutional investors and hedge funds own 87.44% of the company's stock.

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.