State Street (NYSE:STT) Given a $110.00 Price Target by Morgan Stanley Analysts

Morgan Stanley set a $110.00 price target on State Street (NYSE:STT - Free Report) in a report released on Tuesday, MarketBeat Ratings reports. The brokerage currently has an overweight rating on the asset manager's stock.

STT has been the topic of several other research reports. Truist Financial raised State Street from a "hold" rating to a "buy" rating and boosted their price target for the company from $85.00 to $112.00 in a research note on Wednesday, May 28th. Citigroup reduced their price objective on State Street from $105.00 to $100.00 and set a "neutral" rating on the stock in a research note on Monday, March 24th. Wells Fargo & Company reduced their price objective on State Street from $118.00 to $113.00 and set an "overweight" rating on the stock in a research note on Friday, March 28th. Bank of America boosted their price objective on State Street from $98.00 to $99.00 and gave the stock an "underperform" rating in a research note on Wednesday, April 2nd. Finally, Barclays reduced their price objective on State Street from $127.00 to $120.00 and set an "overweight" rating on the stock in a research note on Monday, April 21st. One research analyst has rated the stock with a sell rating, seven have given a hold rating and seven have issued a buy rating to the company's stock. According to data from MarketBeat.com, State Street currently has a consensus rating of "Hold" and a consensus target price of $102.54.

State Street Price Performance

STT stock traded up $2.15 during trading on Tuesday, hitting $98.63. The company had a trading volume of 880,575 shares, compared to its average volume of 2,121,500. The company has a fifty day moving average price of $89.43 and a two-hundred day moving average price of $94.04. The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 1.03. The company has a market cap of $28.13 billion, a P/E ratio of 11.97, a P/E/G ratio of 1.11 and a beta of 1.45. State Street has a fifty-two week low of $70.20 and a fifty-two week high of $103.00.

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

State Street Announces Dividend

The company also recently announced 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. The ex-dividend date of this dividend is Tuesday, July 1st. This represents a $3.04 dividend on an annualized basis and a dividend yield of 3.08%. State Street's payout ratio is currently 34.12%.

Insider Transactions at State Street

In related news, CAO Elizabeth Schaefer sold 1,300 shares of the company's stock in a transaction dated Tuesday, May 6th. The stock was 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 represents a 15.02% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 0.29% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On State Street

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. First Pacific Financial bought a new stake in State Street in the first quarter valued at about $25,000. Capital Analysts LLC increased its holdings in State Street by 3,914.3% in the first quarter. Capital Analysts LLC now owns 281 shares of the asset manager's stock valued at $25,000 after purchasing an additional 274 shares during the last quarter. Y.D. More Investments Ltd increased its holdings in State Street by 116.6% in the fourth quarter. Y.D. More Investments Ltd now owns 366 shares of the asset manager's stock valued at $36,000 after purchasing an additional 197 shares during the last quarter. Larson Financial Group LLC increased its holdings in State Street by 40.8% in the first quarter. Larson Financial Group LLC now owns 407 shares of the asset manager's stock valued at $36,000 after purchasing an additional 118 shares during the last quarter. Finally, Kohmann Bosshard Financial Services LLC bought a new stake in State Street in the fourth quarter valued at about $42,000. Institutional investors 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.