State Street Co. (NYSE:STT) Receives $84.04 Average PT from Brokerages

State Street Co. (NYSE:STT) has received an average rating of “Hold” from the eleven ratings firms that are covering the stock, MarketBeat.com reports. Two analysts have rated the stock with a sell recommendation, four have assigned a hold recommendation and five have issued a buy recommendation on the company. The average twelve-month price objective among brokerages that have covered the stock in the last year is $84.04.

A number of equities research analysts have recently issued reports on STT shares. Keefe, Bruyette & Woods lowered their target price on State Street from $89.00 to $86.00 and set a “market perform” rating for the company in a research note on Monday, January 22nd. Morgan Stanley increased their target price on State Street from $89.00 to $90.00 and gave the company an “equal weight” rating in a research note on Monday, April 15th. JPMorgan Chase & Co. increased their target price on State Street from $79.50 to $80.50 in a research note on Friday, April 12th. UBS Group increased their price target on State Street from $80.00 to $82.00 and gave the company a “neutral” rating in a report on Friday, April 12th. Finally, Royal Bank of Canada increased their price target on State Street from $75.00 to $85.00 and gave the company a “sector perform” rating in a report on Monday, January 22nd.

Insiders Place Their Bets

In other State Street news, CFO Eric W. Aboaf sold 12,000 shares of the stock in a transaction that occurred on Thursday, February 29th. The stock was sold at an average price of $73.90, for a total transaction of $886,800.00. Following the transaction, the chief financial officer now owns 149,063 shares of the company’s stock, valued at approximately $11,015,755.70. The transaction was disclosed in a document filed with the SEC, which is available at this link. In related news, EVP Anthony Bisegna sold 4,258 shares of the firm’s stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $73.64, for a total value of $313,559.12. Following the sale, the executive vice president now owns 23,328 shares of the company’s stock, valued at approximately $1,717,873.92. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Eric W. Aboaf sold 12,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 29th. The stock was sold at an average price of $73.90, for a total value of $886,800.00. Following the completion of the sale, the chief financial officer now directly owns 149,063 shares in the company, valued at approximately $11,015,755.70. The disclosure for this sale can be found here. Insiders have sold a total of 18,864 shares of company stock valued at $1,390,597 in the last quarter. Insiders own 0.31% of the company’s stock.

Institutional Trading of State Street

Several hedge funds have recently made changes to their positions in STT. CVA Family Office LLC bought a new stake in shares of State Street in the 4th quarter worth approximately $27,000. Venturi Wealth Management LLC lifted its holdings in shares of State Street by 92.5% in the 4th quarter. Venturi Wealth Management LLC now owns 383 shares of the asset manager’s stock worth $30,000 after purchasing an additional 184 shares during the last quarter. Turtle Creek Wealth Advisors LLC bought a new stake in shares of State Street in the 4th quarter worth approximately $35,000. Norwood Financial Corp acquired a new stake in State Street in the 1st quarter valued at approximately $35,000. Finally, Accent Capital Management LLC acquired a new stake in State Street in the 4th quarter valued at approximately $39,000. Institutional investors own 87.44% of the company’s stock.

State Street Price Performance

STT stock opened at $74.29 on Friday. The company has a debt-to-equity ratio of 0.90, a quick ratio of 0.55 and a current ratio of 0.61. State Street has a 1 year low of $62.78 and a 1 year high of $79.90. The firm has a market cap of $22.43 billion, a P/E ratio of 13.91, a price-to-earnings-growth ratio of 1.32 and a beta of 1.52. The stock has a 50-day simple moving average of $74.14 and a 200-day simple moving average of $72.68.

State Street Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, April 11th. Shareholders of record on Monday, April 1st were issued a dividend of $0.69 per share. This represents a $2.76 dividend on an annualized basis and a yield of 3.72%. The ex-dividend date of this dividend was Thursday, March 28th. State Street’s dividend payout ratio is presently 51.69%.

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.