Argus reissued their hold rating on shares of State Street (NYSE:STT) in a report published on Tuesday morning, TipRanks reports.
Several other equities research analysts also recently weighed in on STT. Jefferies Financial Group raised shares of State Street from a hold rating to a buy rating and lifted their price target for the company from $68.00 to $92.00 in a research note on Tuesday, January 7th. Evercore ISI assumed coverage on shares of State Street in a research note on Wednesday, November 20th. They issued a buy rating and a $75.00 price target for the company. Buckingham Research reissued a buy rating and set a $84.00 target price (up from $73.00) on shares of State Street in a research report on Monday, November 18th. They noted that the move was a valuation call. Goldman Sachs Group raised shares of State Street from a neutral rating to a buy rating and boosted their target price for the stock from $76.00 to $95.00 in a research report on Monday, January 6th. Finally, UBS Group boosted their target price on shares of State Street from $65.00 to $81.00 and gave the stock a neutral rating in a research report on Tuesday, December 17th. Three research analysts have rated the stock with a sell rating, five have assigned a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company. The company presently has an average rating of Hold and an average price target of $79.53.
STT opened at $78.34 on Tuesday. State Street has a 1-year low of $48.62 and a 1-year high of $85.89. The company has a current ratio of 0.50, a quick ratio of 0.48 and a debt-to-equity ratio of 0.58. The company has a market cap of $29.29 billion, a P/E ratio of 13.62, a price-to-earnings-growth ratio of 1.09 and a beta of 1.58. The company has a fifty day moving average price of $80.12 and a two-hundred day moving average price of $65.43.
State Street (NYSE:STT) last posted its quarterly earnings results on Friday, January 17th. The asset manager reported $1.98 earnings per share for the quarter, beating the consensus estimate of $1.70 by $0.28. State Street had a net margin of 18.14% and a return on equity of 11.79%. The firm had revenue of $3.05 billion during the quarter, compared to the consensus estimate of $2.94 billion. During the same period in the previous year, the firm posted $1.68 earnings per share. The business’s revenue was up 2.1% compared to the same quarter last year. On average, research analysts forecast that State Street will post 6.93 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Thursday, January 16th. Investors of record on Thursday, January 2nd were issued a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a yield of 2.66%. The ex-dividend date was Tuesday, December 31st. State Street’s dividend payout ratio (DPR) is presently 33.71%.
In related news, EVP Joerg Ambrosius sold 2,500 shares of the business’s stock in a transaction dated Friday, November 29th. The shares were sold at an average price of $75.08, for a total transaction of $187,700.00. Following the transaction, the executive vice president now directly owns 14,654 shares in the company, valued at $1,100,222.32. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Robert Willett sold 36,706 shares of the business’s stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $51.80, for a total transaction of $1,901,370.80. Over the last 90 days, insiders have sold 118,984 shares of company stock worth $7,709,865. 0.40% of the stock is owned by corporate insiders.
A number of institutional investors have recently added to or reduced their stakes in STT. FinTrust Capital Advisors LLC purchased a new position in State Street during the fourth quarter worth about $32,000. Reilly Financial Advisors LLC boosted its holdings in State Street by 91.7% during the third quarter. Reilly Financial Advisors LLC now owns 627 shares of the asset manager’s stock worth $37,000 after purchasing an additional 300 shares during the last quarter. Vestor Capital LLC purchased a new position in State Street in the third quarter valued at about $41,000. Evoke Wealth LLC purchased a new position in State Street in the third quarter valued at about $46,000. Finally, CSat Investment Advisory L.P. boosted its stake in State Street by 472.1% in the second quarter. CSat Investment Advisory L.P. now owns 944 shares of the asset manager’s stock valued at $53,000 after acquiring an additional 779 shares during the last quarter. Institutional investors and hedge funds own 89.89% 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. It offers investment servicing products and services, including custody; product and participant level accounting; daily pricing and administration; master trust and master custody; depotbank services; record-keeping; cash management; foreign exchange, brokerage, and other trading services; securities finance; deposit and short-term investment facilities; loans and lease financing; investment manager and alternative investment manager operations outsourcing; performance, risk, and compliance analytics; and financial data management to support institutional investors.
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