State Street (NYSE:STT) Price Target Raised to $157.00

State Street (NYSE:STT) had its price target boosted by Keefe, Bruyette & Woods from $147.00 to $157.00 in a research report released on Thursday,Benzinga reports. Keefe, Bruyette & Woods currently has an outperform rating on the asset manager’s stock.

A number of other research firms have also commented on STT. Loop Capital set a $144.00 price objective on shares of State Street in a research report on Tuesday, January 6th. Bank of America upgraded shares of State Street from an “underperform” rating to a “neutral” rating and set a $143.00 price objective for the company in a research report on Monday, April 6th. Citigroup started coverage on shares of State Street in a research report on Monday, February 23rd. They issued a “buy” rating and a $150.00 price objective for the company. The Goldman Sachs Group restated a “buy” rating on shares of State Street in a research report on Tuesday, January 6th. Finally, Truist Financial set a $136.00 price objective on shares of State Street in a research report on Tuesday, January 20th. One analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $140.50.

State Street Price Performance

STT stock opened at $139.37 on Thursday. The firm has a 50 day moving average of $127.54 and a 200-day moving average of $124.01. The company has a current ratio of 0.61, a quick ratio of 0.61 and a debt-to-equity ratio of 1.04. State Street has a 12 month low of $75.50 and a 12 month high of $139.90. The firm has a market capitalization of $38.61 billion, a P/E ratio of 14.81, a price-to-earnings-growth ratio of 0.91 and a beta of 1.37.

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 analysts’ consensus estimates of $2.82 by $0.15. State Street had a net margin of 13.02% and a return on equity of 13.46%. The company had revenue of $3.67 billion during the quarter, compared to analyst estimates of $3.57 billion. During the same period last year, the business earned $2.60 earnings per share. State Street’s revenue was up 7.5% compared to the same quarter last year. As a group, sell-side analysts predict that State Street will post 9.68 earnings per share for the current fiscal year.

State Street Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, April 13th. Shareholders of record on Wednesday, April 1st will be given a dividend of $0.84 per share. The ex-dividend date is Wednesday, April 1st. This represents a $3.36 annualized dividend and a yield of 2.4%. State Street’s payout ratio is presently 35.71%.

Insider Transactions at State Street

In other State Street news, EVP John Plansky sold 16,100 shares of State Street stock in a transaction that occurred on Wednesday, March 11th. The shares were sold at an average price of $124.32, for a total transaction of $2,001,552.00. Following the completion of the sale, the executive vice president directly owned 56,162 shares in the company, valued at $6,982,059.84. The trade was a 22.28% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.29% of the stock is currently owned by insiders.

Institutional Investors Weigh In On State Street

Hedge funds have recently bought and sold shares of the stock. Regents of The University of California bought a new position in shares of State Street during the 3rd quarter valued at $324,576,000. Jones Financial Companies Lllp grew its holdings in shares of State Street by 11.7% during the 3rd quarter. Jones Financial Companies Lllp now owns 208,600 shares of the asset manager’s stock valued at $24,139,000 after purchasing an additional 21,810 shares during the last quarter. Machina Capital S.A.S. bought a new position in shares of State Street during the 3rd quarter valued at $2,622,000. AE Wealth Management LLC bought a new position in shares of State Street during the 3rd quarter valued at $6,611,000. Finally, Impax Asset Management Group plc grew its holdings in shares of State Street by 49.2% during the 3rd quarter. Impax Asset Management Group plc now owns 127,984 shares of the asset manager’s stock valued at $14,847,000 after purchasing an additional 42,198 shares during the last quarter. 87.44% of the stock is currently owned by institutional investors.

More State Street News

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

• Positive Sentiment: Keefe, Bruyette & Woods raised its price target to $157 and kept an “outperform” rating, giving formal analyst momentum and a clear upside signal to investors. Keefe Bruyette & Woods raises price target to $157
• Positive Sentiment: Zacks says STT is a top dividend stock right now, highlighting yield and payout durability that can attract income-focused investors and support multiple expansion. State Street Corporation (STT) is a Top Dividend Stock Right Now: Should You Buy?
• Positive Sentiment: Another Zacks piece flags that State Street has the ingredients for an earnings beat (momentum in revenue/fee trends), which can lift short-term sentiment ahead of future quarterly results. State Street Corporation (STT) Earnings Expected to Grow: Should You Buy?
• Positive Sentiment: State Street expanded a long-running partnership with Thornburg to support new ETF share classes — a direct business win that can increase custody/administration fee flows as ETF assets scale. State Street Expands Long Partnership With Thornburg to Support New ETF Share Classes
• Neutral Sentiment: State Street analysts published a bullish gold outlook (gold above $5,000 long term); informative for macro strategy but indirect for STT’s fees/earnings. State Street sees gold pushing above $5,000 despite near-term headwinds
• Neutral Sentiment: TipRanks notes State Street Group ceased to be a substantial holder in SRG Global (AU); likely an isolated portfolio change with limited impact on STT fundamentals. State Street Group Ceases to Be Substantial Holder in SRG Global
• Neutral Sentiment: A Barron’s piece on copper/miners is market color for commodity investors but does not directly affect State Street’s operating outlook. Copper Is a ‘Peace’ Commodity. Own These Miners in a Market Recovery.

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.