State Street Corporation (NYSE:STT) Given Consensus Recommendation of "Hold" by Analysts

State Street Corporation (NYSE:STT - Get Free Report) has been given a consensus recommendation of "Hold" by the fourteen analysts that are currently covering the stock, Marketbeat.com reports. One research analyst has rated the stock with a sell rating, six have issued a hold rating and seven have given a buy rating to the company. The average 12-month price target among analysts that have issued ratings on the stock in the last year is $109.92.

A number of research analysts have recently commented on STT shares. Bank of America increased their target price 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. Truist Financial increased their target price on shares of State Street from $112.00 to $122.00 and gave the stock a "buy" rating in a report on Thursday, July 3rd. Evercore ISI increased their target price on shares of State Street from $102.00 to $115.00 and gave the stock an "outperform" rating in a report on Wednesday, July 2nd. Cfra Research cut shares of State Street from a "moderate buy" rating to a "hold" rating in a report on Thursday, May 29th. Finally, Keefe, Bruyette & Woods dropped their target price on shares of State Street from $118.00 to $113.00 and set an "outperform" rating for the company in a report on Monday, April 21st.

State Street Trading Down 0.6%

Shares of State Street stock opened at $109.55 on Monday. The firm has a 50-day moving average of $99.86 and a 200-day moving average of $94.91. The stock has a market cap of $31.24 billion, a PE ratio of 12.30, a PEG ratio of 1.25 and a beta of 1.45. State Street has a 52-week low of $72.81 and a 52-week high of $110.97. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.57 and a current ratio of 0.57.

State Street (NYSE:STT - Get Free Report) last announced its earnings results on Thursday, April 17th. The asset manager reported $2.04 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.98 by $0.06. State Street had a net margin of 12.85% and a return on equity of 12.79%. The company had revenue of $3.28 billion during the quarter, compared to analysts' expectations of $3.30 billion. During the same quarter in the previous year, the business posted $1.69 earnings per share. As a group, sell-side analysts forecast that State Street will post 9.68 EPS for the current year.

State Street Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, July 11th. Stockholders of record on Tuesday, July 1st were paid a $0.76 dividend. The ex-dividend date was Tuesday, July 1st. This represents a $3.04 annualized dividend and a dividend yield of 2.77%. State Street's dividend payout ratio is currently 34.12%.

Insider Buying and Selling at State Street

In other State Street news, CAO Elizabeth Schaefer sold 1,300 shares of the business's stock in a transaction on Tuesday, May 6th. The shares were 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 owned 7,354 shares in the company, valued at approximately $667,154.88. The trade was a 15.02% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.29% of the stock is owned by corporate insiders.

Institutional Trading of State Street

Institutional investors have recently made changes to their positions in the company. First Pacific Financial bought a new stake in shares of State Street in the 1st quarter worth $25,000. Capital Analysts LLC grew its position in State Street by 3,914.3% during the first quarter. Capital Analysts LLC now owns 281 shares of the asset manager's stock valued at $25,000 after buying an additional 274 shares during the period. Larson Financial Group LLC grew its position in State Street by 40.8% during the first quarter. Larson Financial Group LLC now owns 407 shares of the asset manager's stock valued at $36,000 after buying an additional 118 shares during the period. Coppell Advisory Solutions LLC grew its position in State Street by 2,942.9% during the fourth quarter. Coppell Advisory Solutions LLC now owns 426 shares of the asset manager's stock valued at $42,000 after buying an additional 412 shares during the period. Finally, Golden State Wealth Management LLC grew its position in State Street by 186.7% during the first quarter. Golden State Wealth Management LLC now owns 476 shares of the asset manager's stock valued at $43,000 after buying an additional 310 shares during the period. Institutional investors 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.