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.
Analyst Upgrades and Downgrades
Several analysts recently issued reports on STT shares. Argus upgraded State Street from a "hold" rating to a "buy" rating and set a $93.00 price objective for the company in a report on Thursday, April 21st. JPMorgan Chase & Co. cut their target price on State Street from $82.00 to $74.50 in a report on Monday, July 11th. Barclays lowered their price target on State Street from $130.00 to $115.00 in a research report on Monday, April 18th. 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, UBS Group decreased their target price on State Street from $101.00 to $91.00 in a research report on Monday, July 11th. Eight equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $84.81.
State Street Trading Down 0.5 %
STT Stock traded down $0.38 during trading on Monday, hitting $74.55. The company had a trading volume of 53,420 shares, compared to its average volume of 2,591,843. The firm has a 50-day moving average price of $66.35 and a 200-day moving average price of $76.37. The company has a quick ratio of 0.53, a current ratio of 0.53 and a debt-to-equity ratio of 0.57. State Street has a 12 month low of $58.79 and a 12 month high of $104.87. The stock has a market cap of $27.41 billion, a price-to-earnings ratio of 10.38, a PEG ratio of 1.30 and a beta of 1.61.
State Street Increases Dividend
The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 13th. Shareholders of record on Monday, October 3rd will be issued a dividend of $0.63 per share. This represents a $2.52 dividend on an annualized basis and a yield of 3.38%. The ex-dividend date is Friday, September 30th. This is a positive change from State Street's previous quarterly dividend of $0.57. State Street's payout ratio is currently 31.58%.