State Street (NYSE:STT) Stock Price Expected to Rise, Barclays Analyst Says

State Street (NYSE:STT) had its price objective increased by Barclays from $108.00 to $127.00 in a report issued on Monday morning,Benzinga reports. They currently have an overweight rating on the asset manager’s stock.

A number of other equities analysts also recently issued reports on the stock. Evercore ISI increased their price target on shares of State Street from $89.00 to $94.00 and gave the company an “outperform” rating in a report on Wednesday, October 16th. Morgan Stanley dropped their target price on shares of State Street from $139.00 to $132.00 and set an “overweight” rating for the company in a report on Friday. Wells Fargo & Company boosted their price target on State Street from $108.00 to $118.00 and gave the stock an “overweight” rating in a research note on Thursday, January 2nd. The Goldman Sachs Group raised their price objective on State Street from $98.00 to $100.00 and gave the company a “buy” rating in a research note on Thursday, September 26th. Finally, Keefe, Bruyette & Woods raised State Street from a “market perform” rating to an “outperform” rating and upped their target price for the company from $105.00 to $120.00 in a report on Tuesday, December 3rd. Two research analysts have rated the stock with a sell rating, six have given a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $99.93.

State Street Price Performance

Shares of STT opened at $98.38 on Monday. The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 0.91. The stock’s 50 day moving average is $97.10 and its two-hundred day moving average is $88.22. State Street has a twelve month low of $70.20 and a twelve month high of $101.91. The firm has a market capitalization of $28.84 billion, a PE ratio of 15.54, a P/E/G ratio of 1.24 and a beta of 1.43.

State Street (NYSE:STT) last posted its quarterly earnings results 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 for the quarter, compared to the consensus estimate of $3.19 billion. State Street had a return on equity of 12.02% and a net margin of 9.87%. The company’s revenue for the quarter was up 21.1% compared to the same quarter last year. During the same period in the previous year, the business earned $1.93 earnings per share. Research analysts anticipate that State Street will post 8.42 earnings per share for the current year.

State Street Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, January 13th. Shareholders of record on Thursday, January 2nd will be issued a $0.76 dividend. The ex-dividend date of this dividend is Thursday, January 2nd. This represents a $3.04 annualized dividend and a yield of 3.09%. State Street’s dividend payout ratio (DPR) is presently 48.03%.

Insiders Place Their Bets

In related news, EVP John Plansky sold 13,859 shares of the firm’s stock in a transaction that occurred on 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 sale, the executive vice president now directly owns 55,108 shares of the company’s stock, valued at approximately $5,032,462.56. This trade represents a 20.10 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Kathryn M. Horgan sold 12,500 shares of the business’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 transaction of $1,224,625.00. Following the completion of the sale, the executive vice president now owns 111,042 shares of the company’s stock, valued at approximately $10,878,784.74. The trade was a 10.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 26,460 shares of company stock valued at $2,499,860 in the last quarter. 0.31% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Ashton Thomas Private Wealth LLC acquired a new stake in State Street during the second quarter worth about $27,000. Coastline Trust Co purchased a new stake in shares of State Street during the 3rd quarter worth about $44,000. Capital Performance Advisors LLP acquired a new stake in State Street during the 3rd quarter worth approximately $54,000. Versant Capital Management Inc raised its holdings in State Street by 37.0% in the fourth quarter. Versant Capital Management Inc now owns 730 shares of the asset manager’s stock valued at $72,000 after buying an additional 197 shares during the period. Finally, Tobam acquired a new position in State Street during the third quarter valued at approximately $77,000. Institutional investors and hedge funds own 87.44% of the company’s stock.

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.