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

State Street Co. (NYSE:STT - Get Free Report) has been given an average rating of "Hold" by the thirteen research firms that are presently covering the company, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and six have given a buy rating to the company. The average 12-month price objective among analysts that have issued a report on the stock in the last year is $102.15.

A number of brokerages recently issued reports on STT. Morgan Stanley decreased 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. Wells Fargo & Company decreased their price objective on shares of State Street from $118.00 to $113.00 and set an "overweight" rating for the company in a report on Friday, March 28th. Bank of America upped their price objective on shares of State Street from $98.00 to $99.00 and gave the stock an "underperform" rating in a report on Wednesday, April 2nd. Evercore ISI decreased their price objective on shares of State Street from $109.00 to $106.00 and set an "outperform" rating for the company in a report on Tuesday, April 1st. Finally, Citigroup decreased their price objective on shares of State Street from $105.00 to $100.00 and set a "neutral" rating for the company in a report on Monday, March 24th.

Insider Activity at State Street

In related news, CAO Elizabeth Schaefer sold 1,300 shares of the stock in a transaction dated Tuesday, May 6th. The shares were sold at an average price of $90.72, for a total value of $117,936.00. Following the completion of the sale, the chief accounting officer now owns 7,354 shares in the company, valued at approximately $667,154.88. This trade represents a 15.02% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.29% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On State Street

Hedge funds have recently made changes to their positions in the stock. Jacobi Capital Management LLC raised its position in State Street by 7.8% in the first quarter. Jacobi Capital Management LLC now owns 13,189 shares of the asset manager's stock worth $1,181,000 after purchasing 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 purchasing 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 purchasing an additional 6,084 shares in the last quarter. Ransom Advisory Ltd acquired a new position in State Street in the first quarter worth about $190,000. Finally, Bayforest Capital Ltd raised its position in State Street by 99.1% in the first quarter. Bayforest Capital Ltd now owns 3,397 shares of the asset manager's stock worth $304,000 after purchasing an additional 1,691 shares in the last quarter. Institutional investors own 87.44% of the company's stock.

State Street Stock Up 1.3%

Shares of NYSE STT traded up $1.25 during mid-day trading on Friday, reaching $97.35. The company had a trading volume of 2,815,688 shares, compared to its average volume of 2,138,234. State Street has a twelve month low of $70.20 and a twelve month 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 stock has a market capitalization of $27.76 billion, a PE ratio of 11.81, a price-to-earnings-growth ratio of 1.11 and a beta of 1.42. The stock's 50 day moving average is $88.36 and its 200-day moving average is $93.93.

State Street (NYSE:STT - Get Free Report) last posted its quarterly earnings results on Thursday, April 17th. The asset manager reported $2.04 earnings per share for the quarter, topping analysts' consensus estimates of $1.98 by $0.06. State Street had a net margin of 12.14% and a return on equity of 12.60%. The business had revenue of $3.28 billion for the quarter, compared to the consensus estimate of $3.30 billion. During the same period in the prior year, the business posted $1.69 earnings per share. As a group, equities analysts anticipate that State Street will post 9.68 earnings per share for the current fiscal year.

State Street Announces Dividend

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