State Street (NYSE:STT) Price Target Increased to $90.00 by Analysts at Morgan Stanley

State Street (NYSE:STT) had its target price increased by Morgan Stanley from $89.00 to $90.00 in a report published on Monday morning, Benzinga reports. Morgan Stanley currently has an equal weight rating on the asset manager’s stock.

A number of other equities research analysts have also recently weighed in on STT. UBS Group upped their price objective on State Street from $80.00 to $82.00 and gave the stock a neutral rating in a research note on Friday, April 12th. Keefe, Bruyette & Woods lowered their price target on shares of State Street from $89.00 to $86.00 and set a market perform rating on the stock in a report on Monday, January 22nd. Bank of America reiterated an underperform rating and set a $81.00 price objective on shares of State Street in a research note on Thursday, January 4th. Evercore ISI raised their target price on shares of State Street from $85.00 to $88.00 and gave the company an outperform rating in a research note on Thursday, April 4th. Finally, The Goldman Sachs Group raised shares of State Street from a neutral rating to a buy rating and lifted their price target for the stock from $69.00 to $92.00 in a report on Wednesday, January 3rd. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of Hold and a consensus price target of $84.04.

State Street Stock Up 0.3 %

Shares of State Street stock opened at $73.04 on Monday. 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 $22.05 billion, a price-to-earnings ratio of 13.68, a PEG ratio of 1.30 and a beta of 1.52. The firm’s 50-day moving average is $73.99 and its two-hundred day moving average is $72.37. State Street has a 1 year low of $62.78 and a 1 year high of $79.90.

State Street (NYSE:STT) last released its quarterly earnings data on Friday, January 19th. The asset manager reported $2.04 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.83 by $0.21. State Street had a net margin of 9.62% and a return on equity of 12.03%. The firm had revenue of $3.04 billion for the quarter, compared to the consensus estimate of $2.95 billion. During the same period last year, the firm earned $2.07 earnings per share. The company’s quarterly revenue was down 3.5% on a year-over-year basis. As a group, research analysts expect that State Street will post 7.91 earnings per share for the current fiscal year.

State Street Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, April 11th. Shareholders of record on Monday, April 1st were paid a dividend of $0.69 per share. The ex-dividend date of this dividend was Thursday, March 28th. This represents a $2.76 annualized dividend and a yield of 3.78%. State Street’s payout ratio is presently 51.69%.

Insider Activity

In related news, CFO Eric W. Aboaf sold 12,000 shares of State Street stock in a transaction dated Thursday, February 29th. The stock was sold at an average price of $73.90, for a total transaction of $886,800.00. Following the completion of the sale, the chief financial officer now owns 149,063 shares of the company’s stock, valued at $11,015,755.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, CFO Eric W. Aboaf sold 12,000 shares of the firm’s stock in a transaction on Thursday, February 29th. The shares were sold at an average price of $73.90, for a total transaction of $886,800.00. Following the completion of the transaction, the chief financial officer now owns 149,063 shares of the company’s stock, valued at $11,015,755.70. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Anthony Bisegna sold 4,258 shares of the business’s stock in a transaction on Friday, March 1st. The shares were sold at an average price of $73.64, for a total transaction of $313,559.12. Following the transaction, the executive vice president now owns 23,328 shares of the company’s stock, valued at $1,717,873.92. The disclosure for this sale can be found here. Over the last three months, insiders have sold 18,864 shares of company stock valued at $1,390,597. Company insiders own 0.31% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the stock. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH acquired a new stake in shares of State Street during the 1st quarter worth approximately $1,178,000. Diversified Trust Co grew its position in State Street by 252.7% during the first quarter. Diversified Trust Co now owns 38,848 shares of the asset manager’s stock valued at $3,004,000 after buying an additional 27,832 shares during the period. LVW Advisors LLC increased its holdings in State Street by 23.6% in the first quarter. LVW Advisors LLC now owns 5,265 shares of the asset manager’s stock valued at $407,000 after buying an additional 1,004 shares in the last quarter. Trilogy Capital Inc. acquired a new position in shares of State Street in the first quarter worth about $2,752,000. Finally, Norwood Financial Corp purchased a new stake in shares of State Street during the 1st quarter worth about $35,000. 87.44% of the stock is currently owned by hedge funds and other institutional investors.

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.