TD Cowen Issues Positive Forecast for State Street (NYSE:STT) Stock Price

State Street (NYSE:STT) had its target price raised by TD Cowen from $135.00 to $155.00 in a report released on Wednesday morning,Benzinga reports. They currently have a buy rating on the asset manager’s stock.

STT has been the subject of several other research reports. The Goldman Sachs Group reiterated a “buy” rating on shares of State Street in a report on Tuesday. Wells Fargo & Company upped their price objective on shares of State Street from $121.00 to $129.00 and gave the stock an “overweight” rating in a research report on Monday, October 20th. BMO Capital Markets assumed coverage on shares of State Street in a research report on Friday, October 3rd. They set an “outperform” rating and a $130.00 target price on the stock. Cowen restated a “buy” rating on shares of State Street in a research note on Wednesday. Finally, Keefe, Bruyette & Woods upped their target price on State Street from $132.00 to $135.00 and gave the company an “outperform” rating in a report on Monday, October 20th. One equities research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, State Street presently has a consensus rating of “Moderate Buy” and a consensus target price of $133.77.

State Street Stock Down 1.4%

STT stock opened at $132.43 on Wednesday. The firm has a market capitalization of $36.99 billion, a PE ratio of 14.01, a P/E/G ratio of 1.11 and a beta of 1.43. The company has a quick ratio of 0.59, a current ratio of 0.59 and a debt-to-equity ratio of 1.03. State Street has a twelve month low of $72.81 and a twelve month high of $134.67. The stock’s 50 day moving average is $123.00 and its 200-day moving average is $115.83.

State Street (NYSE:STT) last announced its quarterly earnings results on Friday, October 17th. The asset manager reported $2.78 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.57 by $0.21. State Street had a return on equity of 13.37% and a net margin of 13.14%.The business had revenue of $3.55 billion during the quarter, compared to the consensus estimate of $3.43 billion. During the same quarter in the prior year, the company posted $2.26 earnings per share. State Street’s revenue was up 8.8% compared to the same quarter last year. Sell-side analysts expect that State Street will post 9.68 EPS for the current fiscal year.

State Street Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, January 12th. Shareholders of record on Friday, January 2nd will be paid a $0.84 dividend. The ex-dividend date is Friday, January 2nd. This represents a $3.36 annualized dividend and a yield of 2.5%. State Street’s dividend payout ratio (DPR) is currently 35.56%.

Insider Buying and Selling at State Street

In other news, EVP Michael L. Richards sold 1,500 shares of the stock in a transaction dated Monday, October 27th. The shares were sold at an average price of $117.24, for a total value of $175,860.00. Following the sale, the executive vice president directly owned 38,626 shares of the company’s stock, valued at approximately $4,528,512.24. This represents a 3.74% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.29% of the stock is currently owned by corporate insiders.

Institutional Trading of State Street

Hedge funds and other institutional investors have recently bought and sold shares of the company. Brighton Jones LLC bought a new stake in State Street in the 4th quarter worth approximately $296,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of State Street by 2.9% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 32,223 shares of the asset manager’s stock worth $2,885,000 after acquiring an additional 918 shares in the last quarter. NewEdge Advisors LLC lifted its holdings in shares of State Street by 105.2% in the 1st quarter. NewEdge Advisors LLC now owns 10,193 shares of the asset manager’s stock worth $913,000 after acquiring an additional 5,226 shares during the last quarter. UniSuper Management Pty Ltd boosted its stake in shares of State Street by 7.5% in the 1st quarter. UniSuper Management Pty Ltd now owns 31,712 shares of the asset manager’s stock valued at $2,839,000 after purchasing an additional 2,224 shares in the last quarter. Finally, Caxton Associates LLP bought a new position in shares of State Street during the 1st quarter valued at $1,414,000. Institutional investors own 87.44% of the company’s stock.

Trending Headlines about State Street

Here are the key news stories impacting State Street this week:

• Positive Sentiment: TD Cowen raised its price target to $155 and kept a Buy rating, signaling ~17% upside from the current price and suggesting confidence in revenue/earnings momentum. TD Cowen raises PT to $155
• Neutral Sentiment: State Street disclosed it ceased to be a substantial holder in Australia’s Temple & Webster — a routine portfolio change by its funds that is unlikely to materially affect STT’s fundamentals. State Street Ceases to Be Substantial Holder in Temple & Webster
• Neutral Sentiment: Equity-research pieces on valuation and momentum have circulated (Zacks, Yahoo/finance commentary), highlighting that STT is trading near fair-value estimates and remains a momentum candidate for longer-term investors; these are background reads rather than immediate catalysts. Zacks momentum note
• Negative Sentiment: Barclays downgraded STT to a Hold, trimming the buy-side conviction and adding near-term selling pressure from institutional and model-driven flows. Barclays downgrades State Street to Hold
• Negative Sentiment: Truist moved its rating to Hold (reports indicate a downgrade from Buy) even as it lifted the price target to $138 — this combination can sap momentum because the rating change reduces buy-side recommendations while the modest PT lift doesn’t offset the downgrade signal. Truist downgrades State Street

About State Street

State Street Corporation is a global financial services company that provides a range of investment servicing, investment management and investment research and trading services to institutional investors. Its principal activities include custody and fund administration, securities lending, performance and risk analytics, trading and execution services, and foreign exchange. The company also offers investment management through State Street Global Advisors, a major provider of exchange-traded funds and institutional investment strategies.

State Street serves a broad client base of asset managers, insurance companies, pension funds, endowments, and other institutions across North America, Europe, Asia and other global markets.