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
NYSE:STT traded up $0.08 during midday trading on Wednesday, hitting $70.38. The company had a trading volume of 894,593 shares, compared to its average volume of 2,618,236. The company has a quick ratio of 0.53, a current ratio of 0.53 and a debt-to-equity ratio of 0.57. The stock has a market cap of $25.87 billion, a price-to-earnings ratio of 9.75, a P/E/G ratio of 1.23 and a beta of 1.61. The firm has a fifty day simple moving average of $66.22 and a two-hundred day simple moving average of $76.91. State Street has a fifty-two week low of $58.79 and a fifty-two week high of $104.87.
State Street Increases Dividend
The business also recently declared a quarterly dividend, which will be paid on Thursday, October 13th. Shareholders of record on Monday, October 3rd will be given a $0.63 dividend. This represents a $2.52 annualized dividend and a yield of 3.58%. This is a positive change from State Street's previous quarterly dividend of $0.57. The ex-dividend date is Friday, September 30th. State Street's dividend payout ratio (DPR) is currently 31.58%.
Analyst Ratings Changes
STT has been the subject of several research analyst reports. Citigroup upped their price target on shares of State Street to $74.00 in a research report on Friday, July 22nd. Barclays reduced their price target on shares of State Street from $130.00 to $115.00 in a research report on Monday, April 18th. Argus upgraded shares of State Street from a "hold" rating to a "buy" rating and set a $93.00 price target for the company in a research report on Thursday, April 21st. Morgan Stanley cut their target price on shares of State Street from $106.00 to $86.00 and set an "overweight" rating for the company in a research report on Wednesday, July 6th. Finally, Wells Fargo & Company cut their target price on shares of State Street from $95.00 to $71.00 and set an "equal weight" rating for the company in a research report on Friday, July 1st. Eight investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $84.12.