State Street Corporation (NYSE:STT) Given Consensus Recommendation of “Moderate Buy” by Analysts

State Street Corporation (NYSE:STT) has earned an average recommendation of “Moderate Buy” from the thirteen ratings firms that are presently covering the firm, MarketBeat reports. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company. The average 12 month target price among brokerages that have issued ratings on the stock in the last year is $135.8333.

STT has been the topic of a number of recent analyst reports. Loop Capital set a $144.00 target price on State Street in a research note on Tuesday, January 6th. TD Cowen reaffirmed a “buy” rating on shares of State Street in a research note on Wednesday, January 7th. Wall Street Zen raised shares of State Street from a “sell” rating to a “hold” rating in a research report on Saturday, January 17th. BMO Capital Markets assumed coverage on shares of State Street in a research note on Friday, October 3rd. They issued an “outperform” rating and a $130.00 target price on the stock. Finally, Morgan Stanley reduced their target price on shares of State Street from $168.00 to $164.00 and set an “overweight” rating on the stock in a research report on Tuesday, January 20th.

Hedge Funds Weigh In On State Street

Institutional investors have recently made changes to their positions in the company. Nordea Investment Management AB boosted its stake in State Street by 2.2% in the 2nd quarter. Nordea Investment Management AB now owns 2,273,567 shares of the asset manager’s stock worth $241,862,000 after purchasing an additional 49,475 shares in the last quarter. Rakuten Investment Management Inc. acquired a new position in State Street during the 3rd quarter valued at approximately $1,353,000. Boston Common Asset Management LLC purchased a new position in shares of State Street in the third quarter worth $7,848,000. Pacific Heights Asset Management LLC lifted its stake in shares of State Street by 32.1% during the third quarter. Pacific Heights Asset Management LLC now owns 185,000 shares of the asset manager’s stock worth $21,462,000 after buying an additional 45,000 shares during the period. Finally, Milestone Asset Management LLC purchased a new stake in shares of State Street during the third quarter valued at $4,048,000. Hedge funds and other institutional investors own 87.44% of the company’s stock.

State Street Price Performance

Shares of NYSE:STT opened at $131.43 on Friday. The firm has a market cap of $36.71 billion, a price-to-earnings ratio of 13.97, a P/E/G ratio of 1.12 and a beta of 1.43. The firm has a fifty day moving average price of $127.28 and a 200 day moving average price of $118.27. State Street has a fifty-two week low of $72.81 and a fifty-two week high of $137.05. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.59 and a current ratio of 0.61.

State Street (NYSE:STT) last released its quarterly earnings data on Friday, January 16th. The asset manager reported $2.97 EPS for the quarter, beating the consensus estimate of $2.82 by $0.15. State Street had a net margin of 13.02% and a return on equity of 13.46%. The business had revenue of $3.67 billion during the quarter, compared to the consensus estimate of $3.57 billion. During the same quarter in the prior year, the firm earned $2.60 EPS. The business’s revenue was up 7.5% on a year-over-year basis. As a group, sell-side analysts expect that State Street will post 9.68 earnings per share for the current fiscal year.

State Street Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, January 12th. Shareholders of record on Friday, January 2nd were given a dividend of $0.84 per share. The ex-dividend date of this dividend was Friday, January 2nd. This represents a $3.36 dividend on an annualized basis and a yield of 2.6%. State Street’s payout ratio is 35.71%.

State Street Company Profile

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.