State Street Co. (NYSE:STT) Receives Average Recommendation of “Hold” from Brokerages

State Street Co. (NYSE:STT) has been given a consensus rating of “Hold” by the fifteen brokerages that are covering the stock, Marketbeat.com reports. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and seven have assigned a buy rating to the company. The average 12 month target price among brokerages that have covered the stock in the last year is $100.73.

A number of equities research analysts have recently weighed in on the stock. Wells Fargo & Company lifted their target price on shares of State Street from $108.00 to $118.00 and gave the company an “overweight” rating in a research note on Thursday, January 2nd. Truist Financial cut their price objective on State Street from $106.00 to $104.00 and set a “hold” rating on the stock in a research report on Tuesday, January 21st. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and issued a $103.00 target price (down previously from $104.00) on shares of State Street in a research report on Wednesday, January 22nd. JPMorgan Chase & Co. upgraded State Street from an “underweight” rating to a “neutral” rating and set a $95.00 target price for the company in a research note on Friday, December 20th. Finally, Morgan Stanley reduced their price target 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.

State Street Trading Down 0.2 %

NYSE STT opened at $99.63 on Friday. The stock has a market cap of $28.74 billion, a P/E ratio of 12.09, a price-to-earnings-growth ratio of 1.12 and a beta of 1.43. State Street has a fifty-two week low of $70.20 and a fifty-two week high of $103.00. The stock has a 50 day simple moving average of $98.58 and a two-hundred day simple moving average of $92.64. The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.56 and a current ratio of 0.56.

State Street (NYSE:STT) last announced its quarterly earnings results on Friday, January 17th. The asset manager reported $2.60 EPS for the quarter, topping analysts’ consensus estimates of $2.29 by $0.31. The company had revenue of $3.41 billion during the quarter, compared to analyst estimates of $3.27 billion. State Street had a return on equity of 12.60% and a net margin of 12.14%. The firm’s revenue was up 12.1% on a year-over-year basis. During the same quarter last year, the firm posted $2.04 earnings per share. On average, analysts forecast that State Street will post 9.65 earnings per share for the current year.

State Street Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, April 11th. Stockholders of record on Tuesday, April 1st will be paid a $0.76 dividend. This represents a $3.04 annualized dividend and a dividend yield of 3.05%. State Street’s dividend payout ratio is presently 36.89%.

Insider Activity at State Street

In other State Street news, EVP Ann Fogarty sold 3,705 shares of State Street stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $99.47, for a total value of $368,536.35. Following the completion of the sale, the executive vice president now owns 50,816 shares of the company’s stock, valued at approximately $5,054,667.52. This trade represents a 6.80 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Gregory L. Summe sold 10,815 shares of the company’s stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $100.00, for a total value of $1,081,500.00. Following the transaction, the director now directly owns 100,023 shares in the company, valued at approximately $10,002,300. The trade was a 9.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 27,020 shares of company stock valued at $2,674,661 over the last 90 days. Corporate insiders own 0.31% of the company’s stock.

Institutional Trading of State Street

Large investors have recently made changes to their positions in the stock. Albion Financial Group UT purchased a new stake in State Street in the fourth quarter worth approximately $25,000. Y.D. More Investments Ltd lifted its holdings in shares of State Street by 116.6% during the 4th quarter. Y.D. More Investments Ltd now owns 366 shares of the asset manager’s stock valued at $36,000 after buying an additional 197 shares during the period. Kohmann Bosshard Financial Services LLC purchased a new position in shares of State Street in the 4th quarter worth $42,000. Coppell Advisory Solutions LLC boosted its stake in shares of State Street by 2,942.9% in the 4th quarter. Coppell Advisory Solutions LLC now owns 426 shares of the asset manager’s stock worth $42,000 after buying an additional 412 shares during the last quarter. Finally, Coastline Trust Co bought a new stake in shares of State Street in the third quarter worth $44,000. 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.