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

State Street Co. (NYSE:STTGet Free Report) has earned a consensus recommendation of “Hold” from the eleven brokerages that are currently covering the company, MarketBeat reports. Two research analysts have rated the stock with a sell rating, four have given a hold rating and five have assigned a buy rating to the company. The average 12 month target price among brokerages that have covered the stock in the last year is $84.04.

A number of equities analysts have recently issued reports on the stock. Argus upped their target price on shares of State Street from $84.00 to $86.00 and gave the stock a “buy” rating in a research report on Monday, April 15th. UBS Group upped their target price on shares of State Street from $80.00 to $82.00 and gave the stock a “neutral” rating in a research report on Friday, April 12th. Evercore ISI upped their target price on shares of State Street from $85.00 to $88.00 and gave the stock an “outperform” rating in a research report on Thursday, April 4th. Morgan Stanley upped their target price on shares of State Street from $89.00 to $90.00 and gave the stock an “equal weight” rating in a research report on Monday, April 15th. Finally, JPMorgan Chase & Co. boosted their price target on shares of State Street from $79.50 to $80.50 in a research note on Friday, April 12th.

Get Our Latest Analysis on State Street

Institutional Trading of State Street

A number of large investors have recently added to or reduced their stakes in the company. Oppenheimer & Co. Inc. increased its position in State Street by 9.5% during the third quarter. Oppenheimer & Co. Inc. now owns 6,284 shares of the asset manager’s stock worth $421,000 after acquiring an additional 545 shares during the period. Spire Wealth Management increased its position in State Street by 244.6% during the third quarter. Spire Wealth Management now owns 1,706 shares of the asset manager’s stock worth $114,000 after acquiring an additional 1,211 shares during the period. Janney Montgomery Scott LLC increased its position in State Street by 1.3% during the third quarter. Janney Montgomery Scott LLC now owns 57,570 shares of the asset manager’s stock worth $3,855,000 after acquiring an additional 719 shares during the period. Burney Co. increased its position in State Street by 2.9% during the third quarter. Burney Co. now owns 10,637 shares of the asset manager’s stock worth $712,000 after acquiring an additional 299 shares during the period. Finally, Vanguard Personalized Indexing Management LLC increased its holdings in State Street by 1.6% in the 3rd quarter. Vanguard Personalized Indexing Management LLC now owns 29,579 shares of the asset manager’s stock valued at $1,981,000 after buying an additional 456 shares during the period. Institutional investors and hedge funds own 87.44% of the company’s stock.

State Street Price Performance

NYSE:STT opened at $74.76 on Friday. The firm has a market cap of $22.52 billion, a PE ratio of 14.00, a price-to-earnings-growth ratio of 1.27 and a beta of 1.47. State Street has a 12 month low of $62.78 and a 12 month high of $79.90. The company has a quick ratio of 0.61, a current ratio of 0.61 and a debt-to-equity ratio of 0.90. The company’s 50-day moving average price is $75.13 and its two-hundred day moving average price is $74.65.

State Street (NYSE:STTGet Free Report) last announced its earnings results on Friday, April 12th. The asset manager reported $1.69 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.48 by $0.21. State Street had a net margin of 9.62% and a return on equity of 12.03%. The company had revenue of $3.14 billion for the quarter, compared to analyst estimates of $3.06 billion. On average, equities analysts anticipate that State Street will post 7.95 EPS for the current fiscal year.

State Street Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 11th. Investors of record on Monday, July 1st will be issued a dividend of $0.69 per share. This represents a $2.76 annualized dividend and a yield of 3.69%. The ex-dividend date of this dividend is Monday, July 1st. State Street’s payout ratio is 51.69%.

About State Street

(Get Free Report

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.

Featured Articles

Analyst Recommendations for State Street (NYSE:STT)

Receive News & Ratings for State Street Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for State Street and related companies with MarketBeat.com's FREE daily email newsletter.