Analysts Set State Street Co. (NYSE:STT) Price Target at $100.73

Shares of State Street Co. (NYSE:STT) have earned a consensus rating of “Hold” from the fifteen analysts that are presently covering the company, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, seven have given a hold recommendation and seven have given a buy recommendation to the company. The average 1 year price objective among analysts that have issued a report on the stock in the last year is $100.73.

STT has been the subject of a number of recent analyst reports. JPMorgan Chase & Co. raised shares of State Street from an “underweight” rating to a “neutral” rating and set a $95.00 price target for the company in a report on Friday, December 20th. Wells Fargo & Company increased their price target on State Street from $108.00 to $118.00 and gave the company an “overweight” rating in a research note on Thursday, January 2nd. Keefe, Bruyette & Woods raised State Street from a “market perform” rating to an “outperform” rating and lifted their price objective for the stock from $105.00 to $120.00 in a research note on Tuesday, December 3rd. Barclays increased their target price on shares of State Street from $108.00 to $127.00 and gave the company an “overweight” rating in a research report on Monday, January 6th. Finally, Wolfe Research upgraded shares of State Street from an “underperform” rating to a “peer perform” rating in a report on Monday, January 27th.

State Street Trading Up 1.2 %

Shares of NYSE:STT opened at $100.40 on Friday. The company has a market capitalization of $29.43 billion, a P/E ratio of 12.18, a P/E/G ratio of 1.12 and a beta of 1.43. The company has a debt-to-equity ratio of 1.03, a current ratio of 0.56 and a quick ratio of 0.56. The business’s 50 day simple moving average is $98.58 and its 200 day simple moving average is $92.40. State Street has a 1 year low of $70.20 and a 1 year high of $103.00.

State Street (NYSE:STT) last issued its quarterly earnings results on Friday, January 17th. The asset manager reported $2.60 EPS for the quarter, topping analysts’ consensus estimates of $2.29 by $0.31. State Street had a return on equity of 12.60% and a net margin of 12.14%. The company had revenue of $3.41 billion for the quarter, compared to analysts’ expectations of $3.27 billion. During the same quarter last year, the business earned $2.04 earnings per share. State Street’s revenue was up 12.1% on a year-over-year basis. On average, research analysts anticipate that State Street will post 9.6 EPS for the current fiscal year.

State Street Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, January 13th. Shareholders of record on Thursday, January 2nd were paid a $0.76 dividend. The ex-dividend date of this dividend was Thursday, January 2nd. This represents a $3.04 dividend on an annualized basis and a yield of 3.03%. State Street’s dividend payout ratio (DPR) is currently 36.89%.

Insider Activity

In other State Street news, EVP Kathryn M. Horgan sold 12,500 shares of the firm’s stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $97.97, for a total transaction of $1,224,625.00. Following the completion of the transaction, the executive vice president now owns 111,042 shares of the company’s stock, valued at approximately $10,878,784.74. This trade represents a 10.12 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.31% of the company’s stock.

Institutional Trading of State Street

Several hedge funds and other institutional investors have recently made changes to their positions in STT. Invesco Ltd. grew its stake in shares of State Street by 5.7% in the fourth quarter. Invesco Ltd. now owns 7,510,570 shares of the asset manager’s stock worth $737,162,000 after acquiring an additional 406,396 shares during the last quarter. Geode Capital Management LLC grew its position in State Street by 0.3% during the fourth quarter. Geode Capital Management LLC now owns 7,193,687 shares of the asset manager’s stock valued at $704,238,000 after buying an additional 24,617 shares during the period. FMR LLC raised its position in State Street by 14.2% in the fourth quarter. FMR LLC now owns 6,983,607 shares of the asset manager’s stock worth $685,441,000 after acquiring an additional 870,849 shares during the period. Hotchkis & Wiley Capital Management LLC boosted 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 acquiring an additional 1,354,560 shares during the last quarter. Finally, Amundi grew its position in shares of State Street by 11.1% during the 4th quarter. Amundi now owns 5,602,547 shares of the asset manager’s stock valued at $547,636,000 after acquiring an additional 561,773 shares during the period. Hedge funds and other institutional investors own 87.44% of the company’s stock.

About State Street

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.