State Street Co. (NYSE:STT) Receives $84.04 Consensus Price Target from Brokerages

Shares of State Street Co. (NYSE:STTGet Free Report) have earned a consensus rating of “Hold” from the eleven research firms that are presently covering the firm, Marketbeat.com reports. Two equities research analysts have rated the stock with a sell recommendation, four have assigned a hold recommendation and five have issued a buy recommendation on the company. The average 1 year price objective among analysts that have issued ratings on the stock in the last year is $84.04.

Several research firms have recently issued reports on STT. Evercore ISI upped their price objective on State Street from $85.00 to $88.00 and gave the stock an “outperform” rating in a research report on Thursday, April 4th. JPMorgan Chase & Co. upped their price objective on State Street from $79.50 to $80.50 in a research report on Friday, April 12th. 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 report on Friday, April 12th. Morgan Stanley reaffirmed an “equal weight” rating and set a $90.00 price objective on shares of State Street in a research report on Wednesday. Finally, Argus boosted their target price on State Street from $84.00 to $86.00 and gave the company a “buy” rating in a report on Monday, April 15th.

View Our Latest Report on STT

Institutional Investors Weigh In On State Street

A number of large investors have recently bought and sold shares of STT. LRI Investments LLC purchased a new position in shares of State Street during the 1st quarter worth $25,000. CVA Family Office LLC purchased a new position in shares of State Street during the 4th quarter worth $27,000. Venturi Wealth Management LLC lifted its stake in shares of State Street by 92.5% during the 4th quarter. Venturi Wealth Management LLC now owns 383 shares of the asset manager’s stock worth $30,000 after purchasing an additional 184 shares during the period. Turtle Creek Wealth Advisors LLC purchased a new position in shares of State Street during the 4th quarter worth $35,000. Finally, Norwood Financial Corp purchased a new position in shares of State Street during the 1st quarter worth $35,000. Institutional investors and hedge funds own 87.44% of the company’s stock.

State Street Trading Down 0.7 %

STT opened at $71.60 on Friday. State Street has a 12 month low of $62.78 and a 12 month high of $79.90. The stock has a market capitalization of $21.57 billion, a price-to-earnings ratio of 13.41, a PEG ratio of 1.27 and a beta of 1.47. The company has a debt-to-equity ratio of 0.90, a current ratio of 0.61 and a quick ratio of 0.61. The business has a fifty day moving average price of $74.77 and a 200 day moving average price of $74.68.

State Street (NYSE:STTGet Free Report) last released its quarterly earnings data on Friday, April 12th. The asset manager reported $1.69 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.48 by $0.21. The business had revenue of $3.14 billion during the quarter, compared to analysts’ expectations of $3.06 billion. State Street had a return on equity of 12.03% and a net margin of 9.62%. Sell-side analysts expect that State Street will post 7.95 earnings per share for the current fiscal year.

State Street Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, July 11th. Shareholders of record on Monday, July 1st will be issued a dividend of $0.69 per share. This represents a $2.76 dividend on an annualized basis and a yield of 3.85%. The ex-dividend date of this dividend is Monday, July 1st. State Street’s dividend payout ratio (DPR) is presently 51.69%.

State Street Company Profile

(Get Free Report

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.

Further Reading

Analyst Recommendations for State Street (NYSE:STT)

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