Keefe, Bruyette & Woods Issues Positive Forecast for State Street (NYSE:STT) Stock Price

State Street (NYSE:STT) had its target price increased by Keefe, Bruyette & Woods from $157.00 to $175.00 in a report published on Monday morning,Benzinga reports. Keefe, Bruyette & Woods currently has an outperform rating on the asset manager’s stock.

STT has been the subject of a number of other research reports. Morgan Stanley cut their target price on shares of State Street from $168.00 to $164.00 and set an “overweight” rating for the company in a research note on Tuesday, January 20th. The Goldman Sachs Group lifted their target price on shares of State Street from $152.00 to $168.00 and gave the company a “buy” rating in a research note on Monday. Bank of America upgraded shares of State Street from an “underperform” rating to a “neutral” rating and set a $143.00 target price for the company in a research note on Monday, April 6th. Weiss Ratings reiterated a “buy (b)” rating on shares of State Street in a research note on Wednesday, January 21st. Finally, Citigroup started coverage on shares of State Street in a research note on Monday, February 23rd. They issued a “buy” rating and a $150.00 target price for the company. One equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat.com, State Street currently has an average rating of “Moderate Buy” and an average price target of $152.92.

State Street Stock Up 3.2%

Shares of STT opened at $150.04 on Monday. The stock has a market cap of $41.57 billion, a price-to-earnings ratio of 15.22, a P/E/G ratio of 0.93 and a beta of 1.37. The company has a quick ratio of 0.61, a current ratio of 0.57 and a debt-to-equity ratio of 1.04. State Street has a 12 month low of $79.56 and a 12 month high of $150.27. The company has a 50-day moving average price of $129.01 and a two-hundred day moving average price of $125.29.

State Street (NYSE:STT) last announced its quarterly earnings results on Friday, April 17th. The asset manager reported $2.84 EPS for the quarter, topping analysts’ consensus estimates of $2.64 by $0.20. The firm had revenue of $3.80 billion during the quarter, compared to analysts’ expectations of $3.59 billion. State Street had a net margin of 13.47% and a return on equity of 14.22%. The company’s revenue for the quarter was up 15.6% compared to the same quarter last year. During the same quarter last year, the company earned $2.04 earnings per share. Equities analysts predict that State Street will post 11.94 EPS for the current fiscal year.

State Street Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, April 13th. Investors of record on Wednesday, April 1st were issued a $0.84 dividend. The ex-dividend date of this dividend was Wednesday, April 1st. This represents a $3.36 dividend on an annualized basis and a dividend yield of 2.2%. State Street’s dividend payout ratio (DPR) is currently 34.08%.

Insider Buying and Selling at State Street

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

Institutional Trading of State Street

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Regents of The University of California increased its holdings in shares of State Street by 211.2% in the fourth quarter. Regents of The University of California now owns 8,706,195 shares of the asset manager’s stock valued at $1,123,186,000 after purchasing an additional 5,908,370 shares in the last quarter. Morgan Stanley increased its holdings in shares of State Street by 9.0% in the fourth quarter. Morgan Stanley now owns 5,222,382 shares of the asset manager’s stock valued at $673,740,000 after purchasing an additional 433,201 shares in the last quarter. Victory Capital Management Inc. increased its holdings in shares of State Street by 30.8% in the fourth quarter. Victory Capital Management Inc. now owns 4,559,546 shares of the asset manager’s stock valued at $588,227,000 after purchasing an additional 1,074,174 shares in the last quarter. Franklin Resources Inc. increased its holdings in shares of State Street by 1.7% in the fourth quarter. Franklin Resources Inc. now owns 3,926,321 shares of the asset manager’s stock valued at $506,534,000 after purchasing an additional 67,309 shares in the last quarter. Finally, First Trust Advisors LP increased its holdings in shares of State Street by 30.4% in the fourth quarter. First Trust Advisors LP now owns 3,582,977 shares of the asset manager’s stock valued at $462,240,000 after purchasing an additional 835,331 shares in the last quarter. Institutional investors and hedge funds own 87.44% of the company’s stock.

Key Stories Impacting State Street

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

• Positive Sentiment: Q1 was called a “blockbuster” by RBC after State Street reported stronger-than-expected results and a roughly 20% ROTCE, prompting analyst upgrades and helping lift momentum for the stock. State Street Had A ‘Blockbuster’ Q1, Analyst Says
• Positive Sentiment: Several analysts raised forecasts and price targets after STT beat Q1 estimates on both EPS and revenue, pushing upward consensus expectations and supporting near-term upside. These Analysts Increase Their Forecasts On State Street After Better-Than-Expected Q1 Earnings
• Positive Sentiment: Zacks upgraded STT to a Rank #2 (Buy), reflecting stronger earnings prospects and likely contributing to buying interest. State Street (STT) Upgraded to Buy: What Does It Mean for the Stock?
• Positive Sentiment: Keefe, Bruyette & Woods raised its price target to $175 with an Outperform rating, signaling substantial analyst conviction above current levels. Keefe, Bruyette & Woods Target Raise
• Positive Sentiment: Commentary urging investors not to take profits despite the rally suggests some strategists see more upside from improving fundamentals rather than a peak. Do Not Take Profits On State Street, Despite Its Impressive Rally
• Neutral Sentiment: Analysis pieces are revising the investment story and fair value for STT, which can recalibrate investor expectations but are neither a direct catalyst nor a negative signal by themselves. How The State Street (STT) Investment Story Is Shifting With New Targets And Fair Value
• Neutral Sentiment: Truist raised its target to $150 but kept a Hold rating, indicating some analysts see limited near-term upside from current levels despite better results. Truist Target Raise

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.