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

Shares of State Street Co. (NYSE:STT) have been assigned a consensus recommendation of “Hold” from the eleven research firms that are presently covering the stock, Marketbeat.com reports. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and five have given a buy rating to the company. The average 1 year target price among analysts that have updated their coverage on the stock in the last year is $84.04.

Several equities analysts have issued reports on the stock. Morgan Stanley upped their price target on shares of State Street from $89.00 to $90.00 and gave the company an “equal weight” rating in a research report on Monday, April 15th. Evercore ISI raised their price objective on State Street from $85.00 to $88.00 and gave the stock an “outperform” rating in a research report on Thursday, April 4th. JPMorgan Chase & Co. raised their price target on shares of State Street from $79.50 to $80.50 in a report on Friday, April 12th. UBS Group upped their price objective on shares of State Street from $80.00 to $82.00 and gave the company a “neutral” rating in a research note on Friday, April 12th. Finally, The Goldman Sachs Group raised shares of State Street from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $69.00 to $92.00 in a research note on Wednesday, January 3rd.

State Street Price Performance

STT stock opened at $73.39 on Friday. State Street has a 1 year low of $62.78 and a 1 year high of $79.90. The company has a debt-to-equity ratio of 0.90, a current ratio of 0.61 and a quick ratio of 0.55. The stock has a market cap of $22.16 billion, a price-to-earnings ratio of 13.74, a P/E/G ratio of 1.32 and a beta of 1.52. The company has a 50 day simple moving average of $74.16 and a 200 day simple moving average of $72.74.

State Street Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, April 11th. Stockholders of record on Monday, April 1st were paid a $0.69 dividend. The ex-dividend date was Thursday, March 28th. This represents a $2.76 annualized dividend and a dividend yield of 3.76%. State Street’s dividend payout ratio is presently 51.69%.

Insider Activity at State Street

In other State Street news, EVP Anthony Bisegna sold 2,606 shares of the stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $73.00, for a total value of $190,238.00. Following the transaction, the executive vice president now owns 17,737 shares in the company, valued at $1,294,801. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other news, EVP Anthony Bisegna sold 2,606 shares of the business’s stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $73.00, for a total transaction of $190,238.00. Following the completion of the sale, the executive vice president now directly owns 17,737 shares of the company’s stock, valued at $1,294,801. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Eric W. Aboaf sold 12,000 shares of the stock in a transaction that occurred on Thursday, February 29th. The stock was sold at an average price of $73.90, for a total value of $886,800.00. Following the completion of the sale, the chief financial officer now directly owns 149,063 shares of the company’s stock, valued at $11,015,755.70. The disclosure for this sale can be found here. Insiders sold 18,864 shares of company stock valued at $1,390,597 in the last three months. Corporate insiders own 0.31% of the company’s stock.

Institutional Trading of State Street

Institutional investors and hedge funds have recently made changes to their positions in the company. Norges Bank bought a new stake in State Street in the 4th quarter worth about $147,421,000. AustralianSuper Pty Ltd increased its position in shares of State Street by 327.0% during the third quarter. AustralianSuper Pty Ltd now owns 1,325,417 shares of the asset manager’s stock valued at $88,750,000 after acquiring an additional 1,015,022 shares during the last quarter. AEGON ASSET MANAGEMENT UK Plc bought a new stake in State Street during the fourth quarter worth $45,687,000. Balyasny Asset Management L.P. boosted its position in State Street by 57.8% in the fourth quarter. Balyasny Asset Management L.P. now owns 1,563,964 shares of the asset manager’s stock worth $121,145,000 after purchasing an additional 573,016 shares during the last quarter. Finally, Private Management Group Inc. bought a new position in State Street in the 3rd quarter valued at $36,022,000. 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.