State Street Co. (NYSE:STT) Given Consensus Rating of “Hold” by Brokerages

Shares of State Street Co. (NYSE:STT – Get Rating) have been assigned an average recommendation of “Hold” from the sixteen ratings firms that are currently covering the company, Marketbeat Ratings reports. Eight investment analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average 1-year target price among analysts that have issued a report on the stock in the last year is $88.68.

Several research firms have recently issued reports on STT. Citigroup lifted their target price on shares of State Street from $81.00 to $85.00 and gave the company a “neutral” rating in a report on Thursday, December 1st. Morgan Stanley reduced their price target on shares of State Street from $96.00 to $95.00 and set an “equal weight” rating for the company in a research report on Friday, March 10th. StockNews.com assumed coverage on shares of State Street in a research report on Thursday. They set a “hold” rating for the company. Credit Suisse Group raised their price target on shares of State Street from $76.00 to $84.00 and gave the company a “neutral” rating in a research report on Monday, January 23rd. Finally, Bank of America assumed coverage on shares of State Street in a research report on Thursday, January 12th. They set a “neutral” rating and a $86.00 price target for the company.

State Street Price Performance

STT stock opened at $74.75 on Friday. The firm has a 50 day moving average price of $86.94 and a 200-day moving average price of $77.46. State Street has a 52-week low of $58.62 and a 52-week high of $94.74. The firm has a market capitalization of $25.75 billion, a price-to-earnings ratio of 10.40, a PEG ratio of 0.97 and a beta of 1.59. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.56 and a current ratio of 0.56.

State Street Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, April 13th. Shareholders of record on Monday, April 3rd will be given a $0.63 dividend. This represents a $2.52 dividend on an annualized basis and a yield of 3.37%. The ex-dividend date of this dividend is Friday, March 31st. State Street’s dividend payout ratio (DPR) is presently 35.05%.

Insider Activity

In other news, CAO Ian Appleyard sold 6,725 shares of the business’s stock in a transaction on Friday, February 24th. The shares were sold at an average price of $88.42, for a total transaction of $594,624.50. Following the completion of the sale, the chief accounting officer now owns 14,493 shares of the company’s stock, valued at approximately $1,281,471.06. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, EVP John Plansky sold 11,168 shares of the business’s stock in a transaction on Friday, February 17th. The shares were sold at an average price of $92.22, for a total transaction of $1,029,912.96. Following the completion of the sale, the executive vice president now owns 42,455 shares of the company’s stock, valued at approximately $3,915,200.10. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CAO Ian Appleyard sold 6,725 shares of State Street stock in a transaction on Friday, February 24th. The shares were sold at an average price of $88.42, for a total transaction of $594,624.50. Following the transaction, the chief accounting officer now owns 14,493 shares in the company, valued at approximately $1,281,471.06. The disclosure for this sale can be found here. Insiders sold a total of 32,893 shares of company stock valued at $2,923,987 in the last 90 days. Company insiders own 0.25% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. Assetmark Inc. lifted its stake in shares of State Street by 2.9% during the 4th quarter. Assetmark Inc. now owns 4,075 shares of the asset manager’s stock valued at $316,000 after buying an additional 116 shares in the last quarter. Kentucky Retirement Systems lifted its stake in State Street by 0.4% in the 4th quarter. Kentucky Retirement Systems now owns 28,903 shares of the asset manager’s stock worth $2,242,000 after purchasing an additional 127 shares in the last quarter. CVA Family Office LLC lifted its stake in State Street by 16.5% in the 3rd quarter. CVA Family Office LLC now owns 920 shares of the asset manager’s stock worth $56,000 after purchasing an additional 130 shares in the last quarter. Citizens Financial Group Inc RI lifted its stake in State Street by 1.7% in the 4th quarter. Citizens Financial Group Inc RI now owns 8,447 shares of the asset manager’s stock worth $661,000 after purchasing an additional 141 shares in the last quarter. Finally, First Manhattan Co. lifted its stake in State Street by 7.5% in the 4th quarter. First Manhattan Co. now owns 2,119 shares of the asset manager’s stock worth $164,000 after purchasing an additional 148 shares in the last quarter. Hedge funds and other institutional investors own 88.41% of the company’s stock.

State Street Company Profile

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State Street Corp. engages in the provision of financial services to institutional investors. It operates through the Commercial and Financial, and Commercial Real Estate segments. The company was founded in 1792 and is headquartered in Boston, MA.