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

Shares of State Street Co. (NYSE:STT) have received an average rating of “Hold” from the fourteen brokerages that are currently covering the stock, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a sell recommendation, five have given a hold recommendation and seven have assigned a buy recommendation to the company. The average twelve-month price objective among analysts that have issued ratings on the stock in the last year is $98.36.

A number of brokerages have commented on STT. Keefe, Bruyette & Woods raised shares of State Street from a “market perform” rating to an “outperform” rating and increased their price objective for the company from $105.00 to $120.00 in a research report on Tuesday, December 3rd. The Goldman Sachs Group boosted their target price on shares of State Street from $98.00 to $100.00 and gave the stock a “buy” rating in a research note on Thursday, September 26th. Barclays raised their price target on State Street from $103.00 to $108.00 and gave the company an “overweight” rating in a research note on Wednesday, October 16th. StockNews.com raised State Street from a “hold” rating to a “buy” rating in a research report on Thursday, December 19th. Finally, JPMorgan Chase & Co. upgraded State Street from an “underweight” rating to a “neutral” rating and set a $95.00 price objective on the stock in a report on Friday, December 20th.

Insider Buying and Selling

In other State Street news, EVP John Plansky sold 13,859 shares of the company’s stock in a transaction dated Friday, October 18th. The shares were sold at an average price of $91.32, for a total value of $1,265,603.88. Following the completion of the transaction, the executive vice president now directly owns 55,108 shares of the company’s stock, valued at $5,032,462.56. This represents a 20.10 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Kathryn M. Horgan sold 12,500 shares of the firm’s stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $97.97, for a total value of $1,224,625.00. Following the sale, the executive vice president now owns 111,042 shares of the company’s stock, valued at approximately $10,878,784.74. This trade represents a 10.12 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 26,460 shares of company stock valued at $2,499,860. 0.31% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in STT. Raymond James & Associates raised its stake in State Street by 0.4% during the second quarter. Raymond James & Associates now owns 81,472 shares of the asset manager’s stock valued at $6,029,000 after buying an additional 292 shares in the last quarter. HB Wealth Management LLC increased its holdings in shares of State Street by 9.2% in the 2nd quarter. HB Wealth Management LLC now owns 4,706 shares of the asset manager’s stock valued at $348,000 after acquiring an additional 397 shares during the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. raised its position in shares of State Street by 3.1% during the 2nd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 186,406 shares of the asset manager’s stock valued at $13,617,000 after acquiring an additional 5,646 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd lifted its stake in State Street by 0.9% during the second quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 30,704 shares of the asset manager’s stock worth $2,272,000 after purchasing an additional 274 shares during the last quarter. Finally, Kings Path Partners LLC acquired a new position in State Street in the second quarter worth $993,000. 87.44% of the stock is owned by institutional investors and hedge funds.

State Street Stock Up 1.1 %

NYSE:STT opened at $99.27 on Thursday. State Street has a 52 week low of $70.20 and a 52 week high of $101.91. The stock’s fifty day moving average is $95.85 and its two-hundred day moving average is $86.55. The stock has a market capitalization of $29.10 billion, a price-to-earnings ratio of 15.68, a price-to-earnings-growth ratio of 1.24 and a beta of 1.44. The company has a quick ratio of 0.56, a current ratio of 0.56 and a debt-to-equity ratio of 0.91.

State Street (NYSE:STT) last announced its quarterly earnings data on Tuesday, October 15th. The asset manager reported $2.26 earnings per share for the quarter, beating analysts’ consensus estimates of $2.12 by $0.14. The firm had revenue of $3.26 billion during the quarter, compared to analysts’ expectations of $3.19 billion. State Street had a net margin of 9.87% and a return on equity of 12.02%. The business’s quarterly revenue was up 21.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.93 earnings per share. Research analysts anticipate that State Street will post 8.42 EPS for the current year.

State Street Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, January 13th. Stockholders of record on Thursday, January 2nd will be issued a $0.76 dividend. The ex-dividend date is Thursday, January 2nd. This represents a $3.04 dividend on an annualized basis and a dividend yield of 3.06%. State Street’s dividend payout ratio (DPR) is 48.03%.

State Street Company Profile

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.