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.
Wall Street Analyst Weigh In
Several equities analysts have commented on the stock. Argus raised shares of State Street from a "hold" rating to a "buy" rating and set a $93.00 target price on the stock in a research report on Thursday, April 21st. JPMorgan Chase & Co. lowered their price objective on shares of State Street from $82.00 to $74.50 in a research report on Monday, July 11th. Credit Suisse Group reduced their price objective on shares of State Street from $106.00 to $90.00 and set a "neutral" rating for the company in a research note on Monday, April 18th. Deutsche Bank Aktiengesellschaft cut their price target on shares of State Street from $67.00 to $65.00 in a research note on Wednesday, July 13th. Finally, Barclays lowered their price target on shares of State Street from $130.00 to $115.00 in a report on Monday, April 18th. Eight research 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, the stock currently has a consensus rating of "Hold" and an average price target of $84.12.
State Street Trading Down 0.2 %
State Street stock traded down $0.16 during trading on Tuesday, hitting $70.14. The company's stock had a trading volume of 13,552 shares, compared to its average volume of 2,581,607. The stock's fifty day moving average is $66.26 and its 200 day moving average is $76.96. State Street has a 1-year low of $58.79 and a 1-year high of $104.87. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.53 and a current ratio of 0.53. The stock has a market capitalization of $25.78 billion, a price-to-earnings ratio of 9.74, a P/E/G ratio of 1.23 and a beta of 1.61.
State Street Increases Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 13th. Shareholders of record on Monday, October 3rd will be paid a dividend of $0.63 per share. The ex-dividend date is Friday, September 30th. This represents a $2.52 annualized dividend and a yield of 3.59%. This is a boost from State Street's previous quarterly dividend of $0.57. State Street's dividend payout ratio is presently 31.58%.