State Street Co. (NYSE:STT) Receives $100.33 Average PT from Analysts

Shares of State Street Co. (NYSE:STT) have been given an average rating of “Hold” by the fifteen brokerages that are currently covering the company, Marketbeat Ratings reports. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and seven have assigned a buy rating to the company. The average 12-month price target among analysts that have issued a report on the stock in the last year is $100.73.

STT has been the subject of several research reports. Evercore ISI increased their price objective on shares of State Street from $89.00 to $94.00 and gave the company an “outperform” rating in a research note on Wednesday, October 16th. Truist Financial cut their price objective on State Street from $106.00 to $104.00 and set a “hold” rating on the stock in a report on Tuesday. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and issued a $103.00 target price (down previously from $104.00) on shares of State Street in a report on Wednesday. StockNews.com raised State Street from a “hold” rating to a “buy” rating in a research note on Saturday. Finally, Wells Fargo & Company upped their price objective on State Street from $108.00 to $118.00 and gave the company an “overweight” rating in a research note on Thursday, January 2nd.

State Street Trading Up 1.6 %

Shares of STT stock opened at $99.09 on Monday. The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.56 and a current ratio of 0.56. State Street has a fifty-two week low of $70.20 and a fifty-two week high of $101.91. The company 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 stock’s fifty day moving average price is $97.93 and its two-hundred day moving average price is $90.18.

State Street (NYSE:STT) last released its earnings results on Friday, January 17th. The asset manager reported $2.60 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 return on equity of 12.60% and a net margin of 12.14%. The business’s revenue for the quarter was up 12.1% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.04 earnings per share. Equities analysts predict that State Street will post 9.43 EPS for the current fiscal year.

State Street Dividend Announcement

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

Insiders Place Their Bets

In other State Street news, EVP Kathryn M. Horgan sold 12,500 shares of the business’s stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $97.97, for a total value of $1,224,625.00. Following the transaction, the executive vice president now directly owns 111,042 shares of the company’s stock, valued at approximately $10,878,784.74. The trade was a 10.12 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.31% of the company’s stock.

Institutional Trading of State Street

Several large investors have recently modified their holdings of STT. KBC Group NV grew its holdings in State Street by 20.5% in the third quarter. KBC Group NV now owns 74,680 shares of the asset manager’s stock worth $6,607,000 after purchasing an additional 12,707 shares during the period. Asset Management One Co. Ltd. boosted its position in shares of State Street by 17.3% during the 3rd quarter. Asset Management One Co. Ltd. now owns 137,040 shares of the asset manager’s stock worth $12,124,000 after purchasing an additional 20,183 shares in the last quarter. Ensign Peak Advisors Inc grew its stake in shares of State Street by 39.3% in the 2nd quarter. Ensign Peak Advisors Inc now owns 145,859 shares of the asset manager’s stock valued at $10,794,000 after buying an additional 41,180 shares during the period. Banque Cantonale Vaudoise increased its position in State Street by 118.9% in the 3rd quarter. Banque Cantonale Vaudoise now owns 42,667 shares of the asset manager’s stock valued at $3,775,000 after buying an additional 23,171 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. raised its stake in State Street by 43.8% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 68,815 shares of the asset manager’s stock worth $6,069,000 after buying an additional 20,968 shares during the period. Institutional investors and hedge funds 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.