State Street Corp (NYSE:STT) has been assigned a consensus rating of “Buy” from the eighteen ratings firms that are currently covering the firm, MarketBeat reports. One research analyst has rated the stock with a sell rating, six have given a hold rating, nine have given a buy rating and two have given a strong buy rating to the company. The average 12 month price objective among analysts that have updated their coverage on the stock in the last year is $106.69.
A number of analysts have recently commented on the company. Morgan Stanley boosted their price objective on State Street from $105.00 to $114.00 and gave the company an “equal weight” rating in a research report on Thursday, January 25th. ValuEngine upgraded State Street from a “hold” rating to a “buy” rating in a research report on Friday, February 2nd. Vining Sparks restated a “buy” rating and issued a $120.00 price objective on shares of State Street in a research report on Monday, January 8th. Barclays boosted their price objective on State Street from $104.00 to $120.00 and gave the company an “overweight” rating in a research report on Tuesday, January 2nd. Finally, Keefe, Bruyette & Woods set a $120.00 price objective on State Street and gave the company a “buy” rating in a research report on Tuesday, January 23rd.
State Street (NYSE STT) traded up $1.78 during trading on Wednesday, hitting $104.50. The stock had a trading volume of 904,102 shares, compared to its average volume of 1,649,893. The stock has a market capitalization of $37,765.01, a PE ratio of 19.98, a PEG ratio of 1.67 and a beta of 1.31. State Street has a 1-year low of $75.27 and a 1-year high of $114.27. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.49 and a quick ratio of 0.48.
State Street (NYSE:STT) last posted its quarterly earnings data on Tuesday, January 23rd. The asset manager reported $1.61 EPS for the quarter, missing the Zacks’ consensus estimate of $1.71 by ($0.10). The business had revenue of $2.98 billion during the quarter, compared to analysts’ expectations of $2.98 billion. State Street had a net margin of 17.94% and a return on equity of 13.41%. The firm’s quarterly revenue was up 8.5% compared to the same quarter last year. During the same quarter last year, the firm earned $1.48 earnings per share. equities analysts forecast that State Street will post 7.69 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Monday, April 16th. Investors of record on Monday, April 2nd will be given a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a dividend yield of 1.61%. The ex-dividend date is Thursday, March 29th. State Street’s payout ratio is 32.12%.
In other State Street news, EVP George E. Sullivan sold 3,495 shares of the business’s stock in a transaction on Friday, February 16th. The stock was sold at an average price of $103.07, for a total transaction of $360,229.65. Following the transaction, the executive vice president now owns 58,340 shares of the company’s stock, valued at $6,013,103.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Joseph L. Hooley sold 33,568 shares of the business’s stock in a transaction on Friday, February 16th. The stock was sold at an average price of $102.65, for a total value of $3,445,755.20. The disclosure for this sale can be found here. Insiders have sold 37,810 shares of company stock valued at $3,882,978 over the last quarter. 0.71% of the stock is owned by company insiders.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Raymond James Trust N.A. boosted its stake in State Street by 26.5% during the third quarter. Raymond James Trust N.A. now owns 4,112 shares of the asset manager’s stock worth $393,000 after buying an additional 862 shares during the last quarter. Boston Advisors LLC acquired a new position in State Street during the third quarter worth $13,279,000. Todd Asset Management LLC boosted its stake in State Street by 84.0% during the third quarter. Todd Asset Management LLC now owns 399,013 shares of the asset manager’s stock worth $38,122,000 after buying an additional 182,164 shares during the last quarter. Dupont Capital Management Corp boosted its stake in State Street by 36.8% during the third quarter. Dupont Capital Management Corp now owns 76,455 shares of the asset manager’s stock worth $7,305,000 after buying an additional 20,564 shares during the last quarter. Finally, Amundi Pioneer Asset Management Inc. boosted its stake in State Street by 7.4% during the third quarter. Amundi Pioneer Asset Management Inc. now owns 696,179 shares of the asset manager’s stock worth $66,513,000 after buying an additional 48,253 shares during the last quarter. 87.56% of the stock is currently owned by institutional investors.
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About State Street
State Street Corporation is a financial holding company. The Company operates through two lines of business: Investment Servicing and Investment Management. The Company, through its subsidiary, State Street Bank and Trust Company (State Street Bank), provides a range of financial products and services to institutional investors across the world.
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