Argus Raises State Street (NYSE:STT) Price Target to $86.00

State Street (NYSE:STT) had its price target upped by Argus from $84.00 to $86.00 in a research report sent to investors on Monday, Benzinga reports. They currently have a buy rating on the asset manager’s stock.

A number of other research analysts also recently weighed in on the company. Royal Bank of Canada upped their target price on State Street from $75.00 to $85.00 and gave the stock a sector perform rating in a report on Monday, January 22nd. Barclays upped their price target on State Street from $87.00 to $102.00 and gave the stock an overweight rating in a research note on Tuesday, January 2nd. JPMorgan Chase & Co. upped their price target on State Street from $79.50 to $80.50 in a research note on Friday, April 12th. UBS Group increased their target price on State Street from $80.00 to $82.00 and gave the company a neutral rating in a research note on Friday, April 12th. Finally, Evercore ISI increased their target price on State Street from $85.00 to $88.00 and gave the company an outperform rating in a research note on Thursday, April 4th. Two analysts have rated the stock with a sell rating, seven have given a hold rating and five have given a buy rating to the company. According to MarketBeat.com, the company has an average rating of Hold and an average target price of $84.04.

State Street Trading Down 0.3 %

STT opened at $72.81 on Monday. The business has a 50 day simple moving average of $73.97 and a two-hundred day simple moving average of $72.37. The firm has a market capitalization of $21.98 billion, a price-to-earnings ratio of 13.63, a PEG ratio of 1.40 and a beta of 1.52. The company has a debt-to-equity ratio of 0.90, a current ratio of 0.61 and a quick ratio of 0.55. State Street has a one year low of $62.78 and a one year high of $79.90.

State Street (NYSE:STT) last released its quarterly earnings results on Friday, January 19th. The asset manager reported $2.04 EPS for the quarter, beating analysts’ consensus estimates of $1.83 by $0.21. State Street had a return on equity of 12.03% and a net margin of 9.62%. The business had revenue of $3.04 billion during the quarter, compared to analyst estimates of $2.95 billion. During the same quarter in the prior year, the company posted $2.07 EPS. State Street’s quarterly revenue was down 3.5% compared to the same quarter last year. Analysts predict that State Street will post 7.87 EPS for the current year.

State Street Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, April 11th. Investors of record on Monday, April 1st were issued a $0.69 dividend. The ex-dividend date of this dividend was Thursday, March 28th. This represents a $2.76 dividend on an annualized basis and a yield of 3.79%. State Street’s dividend payout ratio is currently 51.69%.

Insider Buying and Selling

In related news, EVP Anthony Bisegna sold 2,606 shares of the firm’s stock in a transaction on Friday, February 16th. The stock was sold at an average price of $73.00, for a total value of $190,238.00. Following the transaction, the executive vice president now directly owns 17,737 shares of the company’s stock, valued at approximately $1,294,801. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In other State Street news, EVP Anthony Bisegna sold 2,606 shares of the stock in a transaction on Friday, February 16th. The stock was sold at an average price of $73.00, for a total value of $190,238.00. Following the completion of the sale, the executive vice president now owns 17,737 shares in the company, valued at approximately $1,294,801. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Eric W. Aboaf sold 12,000 shares of the stock in a transaction on Thursday, February 29th. The stock was sold at an average price of $73.90, for a total value of $886,800.00. Following the completion of the sale, the chief financial officer now owns 149,063 shares of the company’s stock, valued at approximately $11,015,755.70. The disclosure for this sale can be found here. In the last three months, insiders have sold 18,864 shares of company stock valued at $1,390,597. 0.25% of the stock is owned by company insiders.

Institutional Investors Weigh In On State Street

A number of institutional investors have recently bought and sold shares of STT. Symmetry Partners LLC grew its position in shares of State Street by 3.5% during the first quarter. Symmetry Partners LLC now owns 3,802 shares of the asset manager’s stock valued at $294,000 after purchasing an additional 130 shares in the last quarter. IFP Advisors Inc grew its position in shares of State Street by 24.9% during the second quarter. IFP Advisors Inc now owns 733 shares of the asset manager’s stock valued at $54,000 after purchasing an additional 146 shares in the last quarter. First Manhattan Co. grew its position in shares of State Street by 7.5% during the fourth quarter. First Manhattan Co. now owns 2,119 shares of the asset manager’s stock valued at $164,000 after purchasing an additional 148 shares in the last quarter. Apollon Wealth Management LLC grew its position in shares of State Street by 1.8% during the fourth quarter. Apollon Wealth Management LLC now owns 8,337 shares of the asset manager’s stock valued at $647,000 after purchasing an additional 149 shares in the last quarter. Finally, Tompkins Financial Corp grew its position in State Street by 28.3% in the first quarter. Tompkins Financial Corp now owns 680 shares of the asset manager’s stock worth $53,000 after acquiring an additional 150 shares in the last quarter. Hedge funds and other institutional investors own 87.44% of the company’s stock.

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.