State Street (NYSE:STT) Given New $100.00 Price Target at The Goldman Sachs Group

State Street (NYSE:STT) had its price target raised by The Goldman Sachs Group from $98.00 to $100.00 in a research report report published on Thursday, Benzinga reports. The firm currently has a buy rating on the asset manager’s stock.

Several other research analysts also recently weighed in on the company. Barclays increased their price target on State Street from $102.00 to $103.00 and gave the stock an overweight rating in a research note on Wednesday, July 17th. Wells Fargo & Company upped their price target on State Street from $91.00 to $98.00 and gave the stock an overweight rating in a research note on Wednesday, July 17th. Evercore ISI increased their target price on State Street from $88.00 to $91.00 and gave the stock an outperform rating in a research note on Wednesday, July 17th. Wolfe Research reaffirmed an underperform rating and issued a $73.00 price target on shares of State Street in a research report on Monday, July 8th. Finally, Royal Bank of Canada raised their price objective on shares of State Street from $85.00 to $91.00 and gave the company a sector perform rating in a research note on Wednesday, July 17th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of Hold and an average price target of $89.61.

State Street Trading Up 0.1 %

Shares of STT stock opened at $88.20 on Thursday. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.54 and a current ratio of 0.54. The company has a market capitalization of $26.57 billion, a price-to-earnings ratio of 16.52, a PEG ratio of 1.44 and a beta of 1.48. State Street has a 52-week low of $62.78 and a 52-week high of $89.49. The company has a 50-day simple moving average of $83.69 and a two-hundred day simple moving average of $78.11.

State Street (NYSE:STT) last issued its quarterly earnings results on Tuesday, July 16th. The asset manager reported $2.15 EPS for the quarter, beating analysts’ consensus estimates of $2.03 by $0.12. State Street had a return on equity of 11.78% and a net margin of 8.98%. The company had revenue of $3.19 billion during the quarter, compared to the consensus estimate of $3.15 billion. During the same period last year, the business posted $2.17 earnings per share. State Street’s revenue was up 2.6% on a year-over-year basis. Research analysts anticipate that State Street will post 8.15 EPS for the current fiscal year.

State Street Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, October 11th. Investors of record on Tuesday, October 1st will be issued a $0.76 dividend. The ex-dividend date is Tuesday, October 1st. This represents a $3.04 annualized dividend and a yield of 3.45%. This is an increase from State Street’s previous quarterly dividend of $0.69. State Street’s dividend payout ratio is currently 56.93%.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. LRI Investments LLC bought a new position in State Street in the 1st quarter worth $25,000. Ashton Thomas Private Wealth LLC bought a new position in shares of State Street during the 2nd quarter valued at about $27,000. Norwood Financial Corp bought a new position in shares of State Street during the 1st quarter valued at about $35,000. Accent Capital Management LLC bought a new position in shares of State Street during the 4th quarter valued at about $39,000. Finally, Quarry LP bought a new position in shares of State Street during the 4th quarter valued at about $39,000. 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.