State Street Co. (NYSE:STT) Receives $100.73 Consensus Target Price from Analysts

Shares of State Street Co. (NYSE:STT) have received an average recommendation of “Hold” from the fifteen ratings firms that are covering the firm, Marketbeat.com reports. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and seven have issued a buy rating on the company. The average 12 month target price among brokers that have covered the stock in the last year is $100.73.

A number of brokerages recently issued reports on STT. Wolfe Research raised shares of State Street from an “underperform” rating to a “peer perform” rating in a research note on Monday, January 27th. StockNews.com cut State Street from a “buy” rating to a “hold” rating in a report on Friday, February 14th. 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 report on Friday, December 20th. Wells Fargo & Company boosted their price objective on State Street from $108.00 to $118.00 and gave the stock an “overweight” rating in a research note on Thursday, January 2nd. Finally, Truist Financial decreased their target price on State Street from $106.00 to $104.00 and set a “hold” rating for the company in a research note on Tuesday, January 21st.

Insider Buying and Selling at State Street

In other State Street news, EVP Kathryn M. Horgan sold 12,500 shares of the business’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 completion of the transaction, the executive vice president now directly owns 111,042 shares of the company’s stock, valued at approximately $10,878,784.74. The trade was a 10.12 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Company insiders own 0.31% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Norges Bank bought a new stake in shares of State Street in the fourth quarter worth about $161,021,000. Price T Rowe Associates Inc. MD increased its stake in State Street by 236.3% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 2,309,130 shares of the asset manager’s stock worth $226,642,000 after purchasing an additional 1,622,408 shares in the last quarter. Hotchkis & Wiley Capital Management LLC raised its holdings in State Street by 30.4% during the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 5,811,415 shares of the asset manager’s stock worth $514,136,000 after buying an additional 1,354,560 shares during the period. FMR LLC boosted its holdings in shares of State Street by 14.2% in the fourth quarter. FMR LLC now owns 6,983,607 shares of the asset manager’s stock valued at $685,441,000 after buying an additional 870,849 shares during the period. Finally, Azora Capital LP bought a new stake in shares of State Street during the fourth quarter worth $80,294,000. Institutional investors own 87.44% of the company’s stock.

State Street Stock Performance

State Street stock opened at $100.40 on Friday. State Street has a 12-month low of $70.20 and a 12-month high of $103.00. The company has a market capitalization of $29.43 billion, a price-to-earnings ratio of 12.18, a price-to-earnings-growth ratio of 1.12 and a beta of 1.43. The company has a debt-to-equity ratio of 1.03, a current ratio of 0.56 and a quick ratio of 0.56. The firm’s fifty day moving average price is $98.58 and its 200 day moving average price is $92.40.

State Street (NYSE:STT) last posted 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 business had revenue of $3.41 billion during the quarter, compared to the consensus estimate of $3.27 billion. State Street had a return on equity of 12.60% and a net margin of 12.14%. The company’s revenue for the quarter was up 12.1% compared to the same quarter last year. During the same period last year, the firm earned $2.04 earnings per share. On average, research analysts forecast that State Street will post 9.6 EPS for the current fiscal year.

State Street Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, January 13th. Shareholders of record on Thursday, January 2nd were issued a $0.76 dividend. This represents a $3.04 dividend on an annualized basis and a yield of 3.03%. The ex-dividend date of this dividend was Thursday, January 2nd. State Street’s dividend payout ratio (DPR) is presently 36.89%.

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.