State Street (NYSE:STT) Price Target Raised to $82.00

State Street (NYSE:STT) had its price objective upped by UBS Group from $80.00 to $82.00 in a research report report published on Friday, Marketbeat.com reports. UBS Group currently has a neutral rating on the asset manager’s stock.

Other equities research analysts also recently issued research reports about the company. The Goldman Sachs Group raised State Street from a neutral rating to a buy rating and lifted their target price for the stock from $69.00 to $92.00 in a report on Wednesday, January 3rd. Royal Bank of Canada increased their target price on shares of State Street from $75.00 to $85.00 and gave the stock a sector perform rating in a report on Monday, January 22nd. Keefe, Bruyette & Woods dropped their target price on shares of State Street from $89.00 to $86.00 and set a market perform rating for the company in a report on Monday, January 22nd. Barclays upped their price objective on State Street from $87.00 to $102.00 and gave the company an overweight rating in a research note on Tuesday, January 2nd. Finally, Bank of America reaffirmed an underperform rating and issued a $81.00 price objective on shares of State Street in a research note on Thursday, January 4th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, State Street presently has a consensus rating of Hold and an average price target of $84.04.

State Street Price Performance

NYSE:STT opened at $74.93 on Friday. State Street has a 1-year low of $62.78 and a 1-year high of $79.90. The company has a current ratio of 0.61, a quick ratio of 0.55 and a debt-to-equity ratio of 0.90. The firm has a fifty day simple moving average of $73.96 and a 200 day simple moving average of $72.32. The stock has a market capitalization of $22.62 billion, a PE ratio of 14.03, a P/E/G ratio of 1.42 and a beta of 1.52.

State Street (NYSE:STT) last released its quarterly earnings data on Friday, January 19th. The asset manager reported $2.04 EPS for the quarter, topping analysts’ consensus estimates of $1.83 by $0.21. State Street had a net margin of 9.62% and a return on equity of 12.03%. The firm had revenue of $3.04 billion during the quarter, compared to analysts’ expectations of $2.95 billion. During the same period in the previous year, the business posted $2.07 earnings per share. The company’s revenue for the quarter was down 3.5% compared to the same quarter last year. On average, research analysts expect that State Street will post 7.85 EPS for the current fiscal year.

State Street Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, April 11th. Investors of record on Monday, April 1st were issued a $0.69 dividend. This represents a $2.76 annualized dividend and a yield of 3.68%. The ex-dividend date of this dividend was Thursday, March 28th. State Street’s dividend payout ratio (DPR) is currently 51.69%.

Insider Buying and Selling at State Street

In other news, CFO Eric W. Aboaf sold 12,000 shares of State Street stock in a transaction dated Thursday, February 29th. The stock was sold at an average price of $73.90, for a total transaction of $886,800.00. Following the completion of the sale, the chief financial officer now owns 149,063 shares in the company, valued at approximately $11,015,755.70. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, CFO Eric W. Aboaf sold 12,000 shares of State Street stock in a transaction dated Thursday, February 29th. The stock was sold at an average price of $73.90, for a total transaction of $886,800.00. Following the completion of the sale, the chief financial officer now owns 149,063 shares in the company, valued at approximately $11,015,755.70. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Anthony Bisegna sold 4,258 shares of the business’s stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $73.64, for a total value of $313,559.12. Following the completion of the sale, the executive vice president now owns 23,328 shares of the company’s stock, valued at approximately $1,717,873.92. The disclosure for this sale can be found here. Insiders sold 18,864 shares of company stock valued at $1,390,597 in the last quarter. 0.31% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On State Street

Several hedge funds have recently made changes to their positions in STT. Raymond James Trust N.A. grew its stake in State Street by 29.3% in the first quarter. Raymond James Trust N.A. now owns 4,505 shares of the asset manager’s stock worth $392,000 after purchasing an additional 1,021 shares during the period. Blair William & Co. IL increased its position in State Street by 14.3% in the first quarter. Blair William & Co. IL now owns 17,756 shares of the asset manager’s stock worth $1,547,000 after buying an additional 2,216 shares in the last quarter. Sei Investments Co. increased its position in State Street by 3.8% in the first quarter. Sei Investments Co. now owns 280,353 shares of the asset manager’s stock worth $24,436,000 after buying an additional 10,187 shares in the last quarter. Prudential PLC purchased a new stake in State Street in the first quarter worth about $812,000. Finally, Cetera Investment Advisers grew its position in shares of State Street by 16.5% during the first quarter. Cetera Investment Advisers now owns 23,170 shares of the asset manager’s stock worth $2,019,000 after purchasing an additional 3,276 shares in the last quarter. 87.44% of the stock is owned by hedge funds and other institutional investors.

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.