State Street Co. (NYSE:STT) Receives $84.04 Consensus PT from Analysts

Shares of State Street Co. (NYSE:STT) have earned a consensus rating of “Hold” from the eleven ratings firms that are currently covering the stock, Marketbeat.com reports. Two investment analysts have rated the stock with a sell recommendation, four have given a hold recommendation and five have assigned a buy recommendation to the company. The average 12 month target price among brokers that have updated their coverage on the stock in the last year is $84.04.

A number of brokerages have issued reports on STT. Evercore ISI lifted their target price on shares of State Street from $85.00 to $88.00 and gave the company an “outperform” rating in a research note on Thursday, April 4th. Argus boosted their target price on State Street from $84.00 to $86.00 and gave the company a “buy” rating in a research note on Monday, April 15th. JPMorgan Chase & Co. upped their target price on State Street from $79.50 to $80.50 in a research report on Friday, April 12th. UBS Group lifted their price target on State Street from $80.00 to $82.00 and gave the company a “neutral” rating in a report on Friday, April 12th. Finally, Morgan Stanley restated an “equal weight” rating and issued a $90.00 price objective on shares of State Street in a report on Wednesday.

Institutional Investors Weigh In On State Street

A number of hedge funds have recently bought and sold shares of the company. Invesco Ltd. lifted its position in shares of State Street by 0.3% during the 3rd quarter. Invesco Ltd. now owns 10,434,030 shares of the asset manager’s stock worth $698,663,000 after purchasing an additional 29,190 shares during the last quarter. Capital International Investors boosted its position in shares of State Street by 0.5% in the first quarter. Capital International Investors now owns 6,626,753 shares of the asset manager’s stock valued at $512,381,000 after acquiring an additional 31,314 shares during the period. Northern Trust Corp grew its stake in shares of State Street by 4.1% in the third quarter. Northern Trust Corp now owns 4,624,813 shares of the asset manager’s stock worth $309,677,000 after acquiring an additional 180,093 shares during the last quarter. LSV Asset Management increased its position in State Street by 10.5% during the first quarter. LSV Asset Management now owns 4,044,135 shares of the asset manager’s stock worth $312,693,000 after acquiring an additional 385,404 shares during the period. Finally, Metropolis Capital Ltd raised its stake in State Street by 5.3% during the 1st quarter. Metropolis Capital Ltd now owns 3,645,635 shares of the asset manager’s stock valued at $281,880,000 after purchasing an additional 183,591 shares during the last quarter. 87.44% of the stock is currently owned by institutional investors.

State Street Stock Down 1.0 %

NYSE:STT opened at $70.91 on Friday. The business’s fifty day moving average price is $74.67 and its 200 day moving average price is $74.72. The firm has a market capitalization of $21.36 billion, a price-to-earnings ratio of 13.28, a PEG ratio of 1.23 and a beta of 1.47. The company has a current ratio of 0.61, a quick ratio of 0.61 and a debt-to-equity ratio of 0.90. State Street has a 1-year low of $62.78 and a 1-year high of $79.90.

State Street (NYSE:STT) last issued its earnings results on Friday, April 12th. The asset manager reported $1.69 earnings per share for the quarter, beating analysts’ consensus estimates of $1.48 by $0.21. The company had revenue of $3.14 billion for the quarter, compared to the consensus estimate of $3.06 billion. State Street had a return on equity of 12.03% and a net margin of 9.62%. On average, sell-side analysts forecast that State Street will post 7.94 earnings per share for the current fiscal year.

State Street Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, July 11th. Investors of record on Monday, July 1st will be paid a $0.69 dividend. The ex-dividend date of this dividend is Monday, July 1st. This represents a $2.76 dividend on an annualized basis and a yield of 3.89%. State Street’s payout ratio is presently 51.69%.

About State Street

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.