State Street (NYSE:STT) Sets New 52-Week High - What's Next?

State Street Corporation (NYSE:STT - Get Free Report) shares hit a new 52-week high on Monday . The company traded as high as $110.97 and last traded at $110.80, with a volume of 66759 shares. The stock had previously closed at $110.31.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the company. The Goldman Sachs Group lifted their price target on State Street from $98.00 to $111.00 and gave the stock a "buy" rating in a research note on Wednesday, July 2nd. Evercore ISI lifted their price target on State Street from $102.00 to $115.00 and gave the stock an "outperform" rating in a research note on Wednesday, July 2nd. Barclays decreased their price objective on State Street from $127.00 to $120.00 and set an "overweight" rating for the company in a research report on Monday, April 21st. Keefe, Bruyette & Woods decreased their price objective on State Street from $118.00 to $113.00 and set an "outperform" rating for the company in a research report on Monday, April 21st. Finally, Citigroup raised their price objective on State Street from $100.00 to $115.00 and gave the stock a "neutral" rating in a research report on Wednesday, July 2nd. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and seven have assigned a buy rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $106.46.

State Street Trading Down 0.5%

The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.57 and a current ratio of 0.57. The company has a 50-day simple moving average of $97.77 and a 200 day simple moving average of $94.54. The company has a market capitalization of $31.30 billion, a P/E ratio of 12.32, a P/E/G ratio of 1.28 and a beta of 1.45.

State Street (NYSE:STT - Get Free Report) last issued its quarterly earnings results on Thursday, April 17th. The asset manager reported $2.04 EPS for the quarter, topping the consensus estimate of $1.98 by $0.06. The company had revenue of $3.28 billion for the quarter, compared to the consensus estimate of $3.30 billion. State Street had a return on equity of 12.79% and a net margin of 12.85%. During the same period in the previous year, the business posted $1.69 EPS. Sell-side analysts expect that State Street Corporation will post 9.68 earnings per share for the current year.

State Street Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 11th. Stockholders of record on Tuesday, July 1st will be given a dividend of $0.76 per share. This represents a $3.04 dividend on an annualized basis and a dividend yield of 2.77%. The ex-dividend date of this dividend is Tuesday, July 1st. State Street's dividend payout ratio is presently 34.12%.

Insider Activity

In related news, CAO Elizabeth Schaefer sold 1,300 shares of the business's stock in a transaction on Tuesday, May 6th. The stock was sold at an average price of $90.72, for a total value of $117,936.00. Following the sale, the chief accounting officer owned 7,354 shares of the company's stock, valued at $667,154.88. The trade was a 15.02% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.29% of the company's stock.

Institutional Trading of State Street

Several institutional investors have recently bought and sold shares of STT. Brighton Jones LLC acquired a new stake in State Street in the 4th quarter valued at $296,000. Proficio Capital Partners LLC acquired a new position in State Street in the fourth quarter worth $203,000. Raymond James Financial Inc. acquired a new position in State Street in the fourth quarter worth $44,070,000. Callan Family Office LLC boosted its stake in State Street by 309.4% in the fourth quarter. Callan Family Office LLC now owns 11,234 shares of the asset manager's stock worth $1,103,000 after purchasing an additional 8,490 shares in the last quarter. Finally, Jackson Creek Investment Advisors LLC boosted its stake in State Street by 10.2% in the fourth quarter. Jackson Creek Investment Advisors LLC now owns 4,719 shares of the asset manager's stock worth $463,000 after purchasing an additional 435 shares in the last quarter. Institutional investors and hedge funds own 87.44% of the company's stock.

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.