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

State Street Co. (NYSE:STT) has received a consensus recommendation of “Hold” from the eleven brokerages that are covering the stock, Marketbeat reports. Two analysts have rated the stock with a sell recommendation, four have given a hold recommendation and five 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 $84.04.

A number of brokerages recently issued reports on STT. Barclays lifted their target price on State Street from $87.00 to $102.00 and gave the stock an “overweight” rating in a report on Tuesday, January 2nd. Royal Bank of Canada lifted their target price on State Street from $75.00 to $85.00 and gave the stock a “sector perform” rating in a report on Monday, January 22nd. Argus lifted their target price on State Street from $84.00 to $86.00 and gave the stock a “buy” rating in a report on Monday, April 15th. JPMorgan Chase & Co. raised their target price on State Street from $79.50 to $80.50 in a research report on Friday, April 12th. Finally, UBS Group raised their target price on State Street from $80.00 to $82.00 and gave the stock a “neutral” rating in a research report on Friday, April 12th.

State Street Stock Up 0.5 %

Shares of STT stock opened at $73.37 on Friday. State Street has a 1 year low of $62.78 and a 1 year high of $79.90. The stock has a market cap of $22.15 billion, a PE ratio of 13.74, a price-to-earnings-growth ratio of 1.30 and a beta of 1.52. The business’s fifty day moving average is $74.00 and its 200-day moving average is $72.42. 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 (NYSE:STT) last issued its quarterly earnings results on Friday, January 19th. The asset manager reported $2.04 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.83 by $0.21. The company had revenue of $3.04 billion for the quarter, compared to analysts’ expectations of $2.95 billion. State Street had a return on equity of 12.03% and a net margin of 9.62%. The firm’s revenue for the quarter was down 3.5% on a year-over-year basis. During the same period last year, the firm earned $2.07 EPS. Equities analysts expect that State Street will post 7.91 earnings per share for the current fiscal year.

State Street Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, April 11th. Investors of record on Monday, April 1st were given a dividend of $0.69 per share. The ex-dividend date of this dividend was Thursday, March 28th. This represents a $2.76 dividend on an annualized basis and a yield of 3.76%. State Street’s payout ratio is 51.69%.

Insider Activity at State Street

In related news, CFO Eric W. Aboaf sold 12,000 shares of State Street stock in a transaction 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 completion of the sale, the chief financial officer now owns 149,063 shares of the company’s stock, valued at $11,015,755.70. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other State Street news, CFO Eric W. Aboaf sold 12,000 shares of the firm’s stock in a transaction dated 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 directly owns 149,063 shares in the company, valued at $11,015,755.70. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, EVP Anthony Bisegna sold 4,258 shares of the firm’s stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $73.64, for a total value of $313,559.12. Following the transaction, the executive vice president now owns 23,328 shares in the company, valued at $1,717,873.92. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 18,864 shares of company stock valued at $1,390,597. Insiders own 0.31% of the company’s stock.

Hedge Funds Weigh In On State Street

Institutional investors have recently bought and sold shares of the stock. Banque Cantonale Vaudoise increased its stake in shares of State Street by 54.9% in the third quarter. Banque Cantonale Vaudoise now owns 10,839 shares of the asset manager’s stock worth $726,000 after purchasing an additional 3,841 shares during the period. AEGON ASSET MANAGEMENT UK Plc bought a new position in shares of State Street in the fourth quarter worth about $45,687,000. Crestwood Advisors Group LLC increased its stake in shares of State Street by 11.0% in the third quarter. Crestwood Advisors Group LLC now owns 83,069 shares of the asset manager’s stock worth $5,562,000 after purchasing an additional 8,202 shares during the period. Ferguson Wellman Capital Management Inc. increased its stake in shares of State Street by 3.7% in the fourth quarter. Ferguson Wellman Capital Management Inc. now owns 484,411 shares of the asset manager’s stock worth $37,522,000 after purchasing an additional 17,270 shares during the period. Finally, Private Management Group Inc. bought a new position in shares of State Street in the third quarter worth about $36,022,000. 87.44% of the stock is currently owned by institutional investors.

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.