State Street Co. (NYSE:STT) Receives $84.04 Consensus PT from Analysts

State Street Co. (NYSE:STT) has been assigned an average rating of “Hold” from the eleven brokerages that are covering the firm, Marketbeat Ratings reports. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and five have issued a buy rating on the company. The average 1-year price objective among brokerages that have updated their coverage on the stock in the last year is $84.04.

STT has been the subject of several research reports. Keefe, Bruyette & Woods cut their price target on State Street from $89.00 to $86.00 and set a “market perform” rating for the company in a research note on Monday, January 22nd. JPMorgan Chase & Co. lifted their price target on State Street from $79.50 to $80.50 in a research note on Friday, April 12th. Barclays lifted their price target on State Street from $87.00 to $102.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 2nd. UBS Group lifted their price objective on State Street from $80.00 to $82.00 and gave the stock a “neutral” rating in a research report on Friday, April 12th. Finally, Argus lifted their price objective on State Street from $84.00 to $86.00 and gave the stock a “buy” rating in a research report on Monday, April 15th.

Insider Activity

In other news, EVP Anthony Bisegna sold 2,606 shares of State Street stock in a transaction dated 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 directly owns 17,737 shares of the company’s stock, valued at approximately $1,294,801. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CFO Eric W. Aboaf sold 12,000 shares of the business’s stock in a transaction that occurred on Thursday, February 29th. The stock was sold at an average price of $73.90, for a total transaction of $886,800.00. Following the transaction, the chief financial officer now directly owns 149,063 shares of the company’s stock, valued at approximately $11,015,755.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Anthony Bisegna sold 2,606 shares of the business’s 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 directly owns 17,737 shares in the company, valued at $1,294,801. The disclosure for this sale can be found here. Insiders have 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 Investors Weigh In On State Street

Institutional investors have recently made changes to their positions in the company. National Bank of Canada FI grew its stake in State Street by 36.6% during the 3rd quarter. National Bank of Canada FI now owns 81,251 shares of the asset manager’s stock worth $5,378,000 after buying an additional 21,774 shares during the last quarter. International Assets Investment Management LLC bought a new position in State Street during the 3rd quarter worth $743,000. CWM LLC grew its stake in shares of State Street by 17.2% in the third quarter. CWM LLC now owns 5,912 shares of the asset manager’s stock worth $396,000 after purchasing an additional 866 shares in the last quarter. Kentucky Retirement Systems bought a new position in shares of State Street in the third quarter worth $1,665,000. Finally, Kentucky Retirement Systems Insurance Trust Fund bought a new position in shares of State Street in the third quarter worth $743,000. 87.44% of the stock is currently owned by institutional investors.

State Street Trading Down 0.1 %

NYSE:STT opened at $74.29 on Friday. The stock has a fifty day moving average price of $74.14 and a two-hundred day moving average price of $72.68. The stock has a market capitalization of $22.43 billion, a price-to-earnings ratio of 13.91, a PEG ratio of 1.32 and a beta of 1.52. The company has a debt-to-equity ratio of 0.90, a quick ratio of 0.55 and a current ratio of 0.61. State Street has a 1 year low of $62.78 and a 1 year high of $79.90.

State Street Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, April 11th. Stockholders of record on Monday, April 1st were paid a $0.69 dividend. This represents a $2.76 annualized dividend and a dividend yield of 3.72%. The ex-dividend date was Thursday, March 28th. State Street’s dividend payout ratio is currently 51.69%.

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.