State Street Co. (NYSE:STT) Receives Consensus Rating of “Hold” from Analysts

State Street Co. (NYSE:STT) has been given an average rating of “Hold” by the fourteen ratings firms that are presently covering the stock, MarketBeat Ratings reports. Two investment analysts have rated the stock with a sell recommendation, five have assigned a hold recommendation and seven have issued a buy recommendation on the company. The average 12 month target price among analysts that have issued a report on the stock in the last year is $98.36.

Several equities research analysts recently weighed in on STT shares. The Goldman Sachs Group boosted their price target on shares of State Street from $98.00 to $100.00 and gave the stock a “buy” rating in a research report on Thursday, September 26th. JPMorgan Chase & Co. upgraded shares of State Street from an “underweight” rating to a “neutral” rating and set a $95.00 target price on the stock in a report on Friday, December 20th. StockNews.com downgraded shares of State Street from a “buy” rating to a “hold” rating in a report on Friday. Morgan Stanley raised State Street from an “equal weight” rating to an “overweight” rating and boosted their price objective for the stock from $102.00 to $139.00 in a research note on Monday, December 9th. Finally, Deutsche Bank Aktiengesellschaft raised their price objective on State Street from $90.00 to $95.00 and gave the company a “hold” rating in a research note on Monday, November 11th.

State Street Stock Performance

Shares of NYSE STT opened at $98.28 on Thursday. The company has a market cap of $28.81 billion, a P/E ratio of 15.53, a P/E/G ratio of 1.24 and a beta of 1.44. State Street has a 52-week low of $70.20 and a 52-week high of $101.91. The company has a debt-to-equity ratio of 0.91, a quick ratio of 0.56 and a current ratio of 0.56. The firm’s fifty day moving average is $96.42 and its two-hundred day moving average is $87.30.

State Street (NYSE:STT) last announced its quarterly earnings results on Tuesday, October 15th. The asset manager reported $2.26 EPS for the quarter, beating analysts’ consensus estimates of $2.12 by $0.14. State Street had a return on equity of 12.02% and a net margin of 9.87%. The company had revenue of $3.26 billion during the quarter, compared to analyst estimates of $3.19 billion. During the same period in the prior year, the company earned $1.93 earnings per share. The firm’s revenue was up 21.1% on a year-over-year basis. As a group, analysts anticipate that State Street will post 8.42 EPS for the current fiscal year.

State Street Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, January 13th. Stockholders of record on Thursday, January 2nd will be issued a $0.76 dividend. This represents a $3.04 dividend on an annualized basis and a dividend yield of 3.09%. The ex-dividend date is Thursday, January 2nd. State Street’s payout ratio is presently 48.03%.

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 on Monday, November 25th. The stock was sold at an average price of $97.97, for a total transaction of $1,224,625.00. Following the completion of the sale, the executive vice president now directly owns 111,042 shares of the company’s stock, 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 SEC, which is available at this hyperlink. Also, EVP John Plansky sold 13,859 shares of the stock in a transaction on Friday, October 18th. The stock was sold at an average price of $91.32, for a total value of $1,265,603.88. Following the transaction, the executive vice president now directly owns 55,108 shares in the company, valued at $5,032,462.56. The trade was a 20.10 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 26,460 shares of company stock worth $2,499,860 in the last 90 days. 0.31% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On State Street

Hedge funds and other institutional investors have recently modified their holdings of the business. Geode Capital Management LLC raised its stake in State Street by 0.6% in the third quarter. Geode Capital Management LLC now owns 7,169,070 shares of the asset manager’s stock worth $632,111,000 after buying an additional 41,442 shares in the last quarter. FMR LLC raised its position in shares of State Street by 15.8% in the 3rd quarter. FMR LLC now owns 6,112,758 shares of the asset manager’s stock worth $540,796,000 after acquiring an additional 833,679 shares in the last quarter. Hotchkis & Wiley Capital Management LLC lifted its stake in shares of State Street by 30.4% during the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 5,811,415 shares of the asset manager’s stock worth $514,136,000 after purchasing an additional 1,354,560 shares during the last quarter. LSV Asset Management boosted its position in State Street by 30.6% during the second quarter. LSV Asset Management now owns 5,282,386 shares of the asset manager’s stock valued at $390,897,000 after purchasing an additional 1,238,251 shares in the last quarter. Finally, Metropolis Capital Ltd raised its holdings in State Street by 3.9% in the third quarter. Metropolis Capital Ltd now owns 4,286,306 shares of the asset manager’s stock worth $379,209,000 after purchasing an additional 161,466 shares in the last quarter. 87.44% of the stock is currently owned by 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.