State Street Co. (NYSE:STT) Short Interest Update

State Street Co. (NYSE:STT - Get Free Report) saw a large decrease in short interest during the month of May. As of May 15th, there was short interest totalling 4,160,000 shares, a decrease of 17.8% from the April 30th total of 5,060,000 shares. Based on an average daily volume of 2,230,000 shares, the short-interest ratio is presently 1.9 days. Currently, 1.5% of the company's stock are short sold.

Analysts Set New Price Targets

A number of research analysts recently commented on the stock. Bank of America increased their target price on shares of State Street from $98.00 to $99.00 and gave the company an "underperform" rating in a research 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 research note on Tuesday, April 1st. Morgan Stanley lifted their target price on State Street from $107.00 to $110.00 and gave the stock an "overweight" rating in a research report on Tuesday. Wells Fargo & Company decreased their target price on State Street from $118.00 to $113.00 and set an "overweight" rating for the company in a research report on Friday, March 28th. Finally, The Goldman Sachs Group set a $98.00 price target on State Street and gave the stock a "buy" rating in a research report on Thursday, April 17th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and seven have given a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $102.54.

Insider Buying and Selling at State Street

In related news, CAO Elizabeth Schaefer sold 1,300 shares of the business's stock in a transaction that occurred on Tuesday, May 6th. The stock was sold at an average price of $90.72, for a total transaction of $117,936.00. Following the completion of the sale, the chief accounting officer now owns 7,354 shares in the company, valued at $667,154.88. The trade was a 15.02% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.29% of the company's stock.

Hedge Funds Weigh In On State Street

Several hedge funds have recently bought and sold shares of the stock. Mitsubishi UFJ Asset Management Co. Ltd. increased its position in State Street by 3.3% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 457,924 shares of the asset manager's stock worth $44,725,000 after purchasing an additional 14,476 shares in the last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of State Street by 0.6% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,874,936 shares of the asset manager's stock worth $184,025,000 after buying an additional 10,404 shares in the last quarter. Bank of Montreal Can grew its holdings in shares of State Street by 54.6% during the fourth quarter. Bank of Montreal Can now owns 720,909 shares of the asset manager's stock worth $70,757,000 after buying an additional 254,510 shares in the last quarter. Raymond James Financial Inc. acquired a new position in shares of State Street in the fourth quarter valued at approximately $44,070,000. Finally, Deutsche Bank AG lifted its stake in shares of State Street by 2.9% during the fourth quarter. Deutsche Bank AG now owns 1,736,708 shares of the asset manager's stock valued at $170,458,000 after buying an additional 48,464 shares during the period. Hedge funds and other institutional investors own 87.44% of the company's stock.

State Street Price Performance

State Street stock traded down $0.93 during trading hours on Wednesday, hitting $96.08. The stock had a trading volume of 1,068,624 shares, compared to its average volume of 2,126,080. The stock has a market capitalization of $27.40 billion, a price-to-earnings ratio of 11.66, a PEG ratio of 1.11 and a beta of 1.45. 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 1-year low of $70.20 and a 1-year high of $103.00. The stock's fifty day moving average is $88.96 and its two-hundred day moving average is $94.00.

State Street (NYSE:STT - Get Free Report) last posted its earnings results on Thursday, April 17th. The asset manager reported $2.04 earnings per share for the quarter, beating 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 firm had revenue of $3.28 billion during the quarter, compared to the consensus estimate of $3.30 billion. During the same period last year, the firm posted $1.69 EPS. As a group, analysts predict that State Street will post 9.68 earnings per share for the current fiscal year.

State Street Dividend Announcement

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 dividend on an annualized basis and a yield of 3.16%. The ex-dividend date is Tuesday, July 1st. State Street's payout ratio 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.