Analysts Set State Street Co. (NYSE:STT) Target Price at $98.36

State Street Co. (NYSE:STT) has earned a consensus rating of “Hold” from the fourteen ratings firms that are currently covering the stock, MarketBeat.com reports. Two equities research analysts have rated the stock with a sell recommendation, five have given a hold recommendation and seven have given a buy recommendation to the company. The average 1-year target price among brokerages that have issued ratings on the stock in the last year is $98.36.

A number of brokerages have recently weighed in on STT. Evercore ISI lifted their price objective on State Street from $89.00 to $94.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 16th. Morgan Stanley raised shares of State Street from an “equal weight” rating to an “overweight” rating and boosted their price objective for the company from $102.00 to $139.00 in a research report on Monday, December 9th. Wells Fargo & Company raised their target price on shares of State Street from $106.00 to $108.00 and gave the stock an “overweight” rating in a research report on Friday, November 15th. StockNews.com cut shares of State Street from a “buy” rating to a “hold” rating in a research report on Friday, December 27th. Finally, Deutsche Bank Aktiengesellschaft raised their price objective on shares of State Street from $90.00 to $95.00 and gave the stock a “hold” rating in a report on Monday, November 11th.

State Street Stock Down 0.1 %

Shares of NYSE STT opened at $98.15 on Thursday. The company has a market cap of $28.77 billion, a price-to-earnings ratio of 15.51, a PEG 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. The firm’s fifty day moving average is $96.72 and its 200 day moving average is $87.57. State Street has a 52 week low of $70.20 and a 52 week high of $101.91.

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

State Street Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, January 13th. Stockholders of record on Thursday, January 2nd will be issued a dividend of $0.76 per share. The ex-dividend date of this dividend is Thursday, January 2nd. This represents a $3.04 annualized dividend and a dividend yield of 3.10%. State Street’s payout ratio is presently 48.03%.

Insider Transactions at State Street

In related news, 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 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 $10,878,784.74. This trade represents a 10.12 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP John Plansky sold 13,859 shares of the business’s stock in a transaction that occurred on Friday, October 18th. The stock was sold at an average price of $91.32, for a total transaction of $1,265,603.88. Following the completion of the transaction, the executive vice president now owns 55,108 shares of the company’s stock, valued at approximately $5,032,462.56. The trade was a 20.10 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders 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 owned by insiders.

Institutional Investors Weigh In On State Street

Several large investors have recently bought and sold shares of the business. Ashton Thomas Private Wealth LLC purchased a new stake in shares of State Street during the 2nd quarter valued at about $27,000. Coastline Trust Co purchased a new stake in State Street in the third quarter worth approximately $44,000. Capital Performance Advisors LLP bought a new stake in State Street in the 3rd quarter worth approximately $54,000. Tobam bought a new stake in State Street in the 3rd quarter worth approximately $77,000. Finally, Brooklyn Investment Group purchased a new stake in State Street during the 3rd quarter valued at $79,000. 87.44% of the stock is currently owned by institutional investors.

About State Street

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.