State Street Co. (NYSE:STT) Given Average Recommendation of “Hold” by Brokerages

State Street Co. (NYSE:STT) has earned an average rating of “Hold” from the fifteen research firms that are covering the stock, MarketBeat.com reports. Two research analysts have rated the stock with a sell recommendation, six have assigned a hold recommendation and seven have given a buy recommendation to the company. The average twelve-month price objective among analysts that have issued ratings on the stock in the last year is $100.73.

STT has been the subject of a number of analyst reports. Morgan Stanley decreased their price target on State Street from $139.00 to $132.00 and set an “overweight” rating for the company in a research note on Friday, January 3rd. Wells Fargo & Company boosted their target price on shares of State Street from $108.00 to $118.00 and gave the stock an “overweight” rating in a report on Thursday, January 2nd. Keefe, Bruyette & Woods upgraded shares of State Street from a “market perform” rating to an “outperform” rating and increased their price target for the company from $105.00 to $120.00 in a research note on Tuesday, December 3rd. Barclays upped their target price on shares of State Street from $108.00 to $127.00 and gave the company an “overweight” rating in a report on Monday, January 6th. Finally, JPMorgan Chase & Co. upgraded State Street from an “underweight” rating to a “neutral” rating and set a $95.00 price target for the company in a report on Friday, December 20th.

Insider Activity at State Street

In other State Street news, EVP Kathryn M. Horgan sold 12,500 shares of State Street stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $97.97, for a total value of $1,224,625.00. Following the completion of the sale, the executive vice president now owns 111,042 shares in the company, valued at $10,878,784.74. The trade was a 10.12 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.31% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On State Street

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Albion Financial Group UT acquired a new stake in State Street during the fourth quarter worth approximately $25,000. Coastline Trust Co bought a new stake in shares of State Street during the 3rd quarter valued at $44,000. Friedenthal Financial acquired a new stake in shares of State Street during the 4th quarter worth $49,000. Capital Performance Advisors LLP bought a new position in shares of State Street in the third quarter worth $54,000. Finally, R Squared Ltd acquired a new position in State Street in the fourth quarter valued at about $58,000. 87.44% of the stock is currently owned by institutional investors and hedge funds.

State Street Stock Performance

Shares of STT stock opened at $99.09 on Monday. State Street has a 12 month low of $70.20 and a 12 month high of $101.91. The company’s fifty day simple moving average is $97.93 and its 200-day simple moving average is $90.18. The firm has a market cap of $29.05 billion, a PE ratio of 12.03, a P/E/G ratio of 1.11 and a beta of 1.43. The company has a quick ratio of 0.56, a current ratio of 0.56 and a debt-to-equity ratio of 1.03.

State Street (NYSE:STT) last issued its quarterly earnings results on Friday, January 17th. The asset manager reported $2.60 EPS for the quarter, topping the consensus estimate of $2.29 by $0.31. The firm had revenue of $3.41 billion for the quarter, compared to analysts’ expectations of $3,267,560 billion. State Street had a net margin of 12.14% and a return on equity of 12.60%. The company’s revenue for the quarter was up 12.1% on a year-over-year basis. During the same period in the previous year, the firm posted $2.04 EPS. Equities research analysts expect that State Street will post 9.43 EPS for the current fiscal year.

State Street Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, January 13th. Stockholders of record on Thursday, January 2nd were issued a dividend of $0.76 per share. This represents a $3.04 dividend on an annualized basis and a dividend yield of 3.07%. The ex-dividend date of this dividend was Thursday, January 2nd. State Street’s dividend payout ratio is currently 36.89%.

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.