State Street (NYSE:STT) Now Covered by Truist Financial

Truist Financial started coverage on shares of State Street (NYSE:STT) in a research note published on Tuesday,Benzinga reports. The brokerage issued a hold rating and a $106.00 price target on the asset manager’s stock.

A number of other equities research analysts have also recently commented on the stock. StockNews.com cut shares of State Street from a “buy” rating to a “hold” rating in a research report on Friday, December 27th. Wells Fargo & Company increased their price objective on State Street from $108.00 to $118.00 and gave the company an “overweight” rating in a report on Thursday, January 2nd. Morgan Stanley dropped their target price on State Street from $139.00 to $132.00 and set an “overweight” rating on the stock in a research note on Friday, January 3rd. Evercore ISI increased their price target on State Street from $89.00 to $94.00 and gave the company an “outperform” rating in a research note on Wednesday, October 16th. Finally, Deutsche Bank Aktiengesellschaft boosted their price target on State Street from $90.00 to $95.00 and gave the stock a “hold” rating in a research note on Monday, November 11th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $100.33.

State Street Stock Down 0.7 %

Shares of NYSE STT opened at $97.74 on Tuesday. The stock has a market capitalization of $28.65 billion, a PE ratio of 15.44, a price-to-earnings-growth ratio of 1.24 and a beta of 1.43. The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 0.91. State Street has a 12-month low of $70.20 and a 12-month high of $101.91. The stock’s fifty day simple moving average is $97.19 and its two-hundred day simple moving average is $88.40.

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

State Street Announces Dividend

The business 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 annualized dividend and a dividend yield of 3.11%. State Street’s dividend payout ratio (DPR) is presently 48.03%.

Insider Buying and Selling

In other news, EVP John Plansky sold 13,859 shares of the stock in a transaction dated Friday, October 18th. The shares were sold at an average price of $91.32, for a total transaction 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 $5,032,462.56. This represents a 20.10 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Kathryn M. Horgan sold 12,500 shares of the firm’s stock in a transaction dated 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 in the company, valued at $10,878,784.74. This trade represents 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 over the last ninety days. Company insiders own 0.31% of the company’s stock.

Hedge Funds Weigh In On State Street

A number of hedge funds have recently bought and sold shares of the business. TD Asset Management Inc lifted its position in shares of State Street by 2.3% during the 2nd quarter. TD Asset Management Inc now owns 123,488 shares of the asset manager’s stock valued at $9,138,000 after buying an additional 2,731 shares in the last quarter. Candriam S.C.A. lifted its holdings in State Street by 21.9% during the second quarter. Candriam S.C.A. now owns 48,686 shares of the asset manager’s stock valued at $3,603,000 after purchasing an additional 8,761 shares in the last quarter. Savant Capital LLC grew its position in shares of State Street by 125.0% in the second quarter. Savant Capital LLC now owns 27,527 shares of the asset manager’s stock valued at $2,037,000 after purchasing an additional 15,293 shares during the period. Caprock Group LLC increased its stake in shares of State Street by 292.7% during the second quarter. Caprock Group LLC now owns 17,956 shares of the asset manager’s stock worth $1,329,000 after purchasing an additional 13,383 shares in the last quarter. Finally, Oak Thistle LLC acquired a new position in shares of State Street during the 2nd quarter worth about $393,000. Hedge funds and other institutional investors 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.