Other equities analysts also recently issued research reports about the stock. Wolfe Research downgraded shares of State Street from an outperform rating to a peer perform rating and set a $101.00 price objective on the stock. in a report on Thursday, March 31st. Morgan Stanley reduced their price objective on State Street from $128.00 to $123.00 and set an overweight rating for the company in a research note on Monday, March 28th. StockNews.com began coverage on State Street in a research note on Thursday, March 31st. They issued a hold rating for the company. Barclays raised their target price on State Street from $110.00 to $130.00 and gave the stock an overweight rating in a research note on Monday, January 3rd. Finally, Zacks Investment Research cut State Street from a buy rating to a hold rating and set a $99.00 price target for the company. in a report on Friday, January 21st. Six analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, State Street has an average rating of Buy and a consensus target price of $108.25.
State Street stock opened at $84.17 on Thursday. The firm’s 50 day moving average price is $89.69 and its 200-day moving average price is $92.90. State Street has a 1 year low of $76.92 and a 1 year high of $104.87. The stock has a market cap of $30.81 billion, a P/E ratio of 11.72, a PEG ratio of 1.27 and a beta of 1.54. The company has a debt-to-equity ratio of 0.53, a current ratio of 0.55 and a quick ratio of 0.55.
The firm also recently announced a quarterly dividend, which will be paid on Monday, April 11th. Investors of record on Friday, April 1st will be given a $0.57 dividend. This represents a $2.28 annualized dividend and a yield of 2.71%. The ex-dividend date is Thursday, March 31st. State Street’s dividend payout ratio is currently 31.75%.
In other State Street news, EVP Andrew Erickson sold 16,000 shares of the stock in a transaction on Monday, January 24th. The stock was sold at an average price of $89.00, for a total transaction of $1,424,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.28% of the company’s stock.
Hedge funds and other institutional investors have recently bought and sold shares of the business. Louisiana State Employees Retirement System increased its holdings in State Street by 0.4% during the 4th quarter. Louisiana State Employees Retirement System now owns 22,900 shares of the asset manager’s stock valued at $2,130,000 after purchasing an additional 100 shares in the last quarter. Samalin Investment Counsel LLC increased its holdings in State Street by 5.0% during the 4th quarter. Samalin Investment Counsel LLC now owns 2,124 shares of the asset manager’s stock valued at $197,000 after purchasing an additional 101 shares in the last quarter. Integrated Wealth Concepts LLC increased its holdings in State Street by 4.0% during the 4th quarter. Integrated Wealth Concepts LLC now owns 2,755 shares of the asset manager’s stock valued at $256,000 after purchasing an additional 106 shares in the last quarter. IFM Investors Pty Ltd boosted its position in State Street by 0.3% in the 4th quarter. IFM Investors Pty Ltd now owns 48,049 shares of the asset manager’s stock valued at $4,469,000 after buying an additional 121 shares during the last quarter. Finally, MMA Asset Management LLC boosted its position in State Street by 4.8% in the 4th quarter. MMA Asset Management LLC now owns 2,691 shares of the asset manager’s stock valued at $250,000 after buying an additional 124 shares during the last quarter. Institutional investors own 88.89% of the company’s stock.
About State Street (Get Rating)
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; product 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 and enhanced custody products; 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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