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; product accounting; daily pricing and administration; master trust and master custody; depotbank services; record-keeping; cash management; foreign exchange, brokerage and other trading services; securities finance and enhanced custody products; deposit and short-term investment facilities; loans and lease financing; investment manager and alternative investment manager operations outsourcing; performance, risk, and compliance analytics; and financial data management to support institutional investors. It also engages in the provision of portfolio management and risk analytics, as well as trading and post-trade settlement services with integrated compliance and managed data. In addition, the company offers investment management strategies and products, such as core and enhanced indexing, multi-asset strategies, active quantitative and fundamental active capabilities, and alternative investment strategies. Further, it provides services and solutions, including environmental, social, and governance investing; defined benefit and defined contribution; and global fiduciary solutions, as well as exchange-traded fund under the SPDR ETF brand. The company provides its products and services to mutual funds, collective investment funds and other investment pools, corporate and public retirement plans, insurance companies, foundations, endowments, and investment managers. State Street Corporation was founded in 1792 and is headquartered in Boston, Massachusetts.
State Street Stock Performance
STT opened at $74.20 on Friday. The company has a debt-to-equity ratio of 0.57, a current ratio of 0.53 and a quick ratio of 0.53. The business has a fifty day simple moving average of $66.66 and a 200 day simple moving average of $76.06. State Street has a 1 year low of $58.79 and a 1 year high of $104.87. The company has a market capitalization of $27.28 billion, a PE ratio of 10.28, a price-to-earnings-growth ratio of 1.29 and a beta of 1.61.
State Street Increases Dividend
The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 13th. Investors of record on Monday, October 3rd will be paid a $0.63 dividend. The ex-dividend date of this dividend is Friday, September 30th. This is an increase from State Street's previous quarterly dividend of $0.57. This represents a $2.52 annualized dividend and a dividend yield of 3.40%. State Street's dividend payout ratio is 31.58%.
Wall Street Analyst Weigh In
Several research firms have commented on STT. JPMorgan Chase & Co. cut their target price on State Street from $82.00 to $74.50 in a research note on Monday, July 11th. UBS Group lowered their target price on State Street from $101.00 to $91.00 in a research report on Monday, July 11th. Piper Sandler reduced their price target on State Street from $78.00 to $75.00 and set a "neutral" rating for the company in a research report on Friday, July 1st. Royal Bank of Canada lowered their price target on State Street from $90.00 to $80.00 in a research report on Tuesday, June 14th. Finally, Wells Fargo & Company lowered their target price on shares of State Street from $95.00 to $71.00 and set an "equal weight" rating on the stock in a report on Friday, July 1st. Eight investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $84.81.