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

State Street Co. (NYSE:STT) has earned an average rating of “Hold” from the fifteen ratings firms that are currently covering the stock, Marketbeat.com reports. One equities research analyst has rated the stock with a sell recommendation, seven have assigned a hold recommendation and seven have assigned a buy recommendation to the company. The average twelve-month price target among analysts that have issued a report on the stock in the last year is $101.20.

Several equities analysts have recently issued reports on STT shares. StockNews.com downgraded shares of State Street from a “buy” rating to a “hold” rating in a report on Friday, March 7th. Truist Financial cut their price target on shares of State Street from $106.00 to $104.00 and set a “hold” rating on the stock in a report on Tuesday, January 21st. Wells Fargo & Company increased their price target on shares of State Street from $108.00 to $118.00 and gave the stock an “overweight” rating in a report on Thursday, January 2nd. Barclays increased their price target on shares of State Street from $108.00 to $127.00 and gave the stock an “overweight” rating in a report on Monday, January 6th. Finally, JPMorgan Chase & Co. upgraded shares of State Street from an “underweight” rating to a “neutral” rating and set a $95.00 price target on the stock in a report on Friday, December 20th.

State Street Stock Performance

STT opened at $87.90 on Tuesday. State Street has a 52-week low of $70.20 and a 52-week high of $103.00. The company has a quick ratio of 0.56, a current ratio of 0.56 and a debt-to-equity ratio of 1.03. The company has a market cap of $25.36 billion, a P/E ratio of 10.67, a price-to-earnings-growth ratio of 1.11 and a beta of 1.44. The firm’s 50-day moving average price is $96.48 and its 200-day moving average price is $94.18.

State Street (NYSE:STT) last posted its quarterly earnings data on Friday, January 17th. The asset manager reported $2.60 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.29 by $0.31. State Street had a net margin of 12.14% and a return on equity of 12.60%. The firm had revenue of $3.41 billion for the quarter, compared to the consensus estimate of $3.27 billion. During the same quarter in the prior year, the company posted $2.04 earnings per share. The company’s revenue for the quarter was up 12.1% compared to the same quarter last year. As a group, equities analysts anticipate that State Street will post 9.68 EPS for the current fiscal year.

State Street Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 11th. Shareholders of record on Tuesday, April 1st will be given a $0.76 dividend. The ex-dividend date of this dividend is Tuesday, April 1st. This represents a $3.04 annualized dividend and a yield of 3.46%. State Street’s dividend payout ratio is presently 36.89%.

Insider Activity

In other news, EVP Ann Fogarty sold 3,705 shares of the stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $99.47, for a total transaction of $368,536.35. Following the transaction, the executive vice president now owns 50,816 shares in the company, valued at $5,054,667.52. This trade represents a 6.80 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Gregory L. Summe sold 10,815 shares of the stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $100.00, for a total value of $1,081,500.00. Following the transaction, the director now owns 100,023 shares in the company, valued at $10,002,300. This trade represents a 9.76 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.31% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Flagship Harbor Advisors LLC purchased a new position in State Street in the 4th quarter valued at $272,000. Charles Schwab Investment Management Inc. lifted its holdings in State Street by 0.6% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,874,936 shares of the asset manager’s stock valued at $184,025,000 after purchasing an additional 10,404 shares in the last quarter. KBC Group NV lifted its holdings in State Street by 20.5% in the 3rd quarter. KBC Group NV now owns 74,680 shares of the asset manager’s stock valued at $6,607,000 after purchasing an additional 12,707 shares in the last quarter. Janney Montgomery Scott LLC lifted its holdings in State Street by 11.1% in the 4th quarter. Janney Montgomery Scott LLC now owns 74,268 shares of the asset manager’s stock valued at $7,289,000 after purchasing an additional 7,446 shares in the last quarter. Finally, Merit Financial Group LLC purchased a new position in State Street in the 4th quarter valued at $395,000. 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.