State Street Corporation (NYSE:STT) Receives Consensus Rating of “Moderate Buy” from Brokerages

Shares of State Street Corporation (NYSE:STT) have received an average rating of “Moderate Buy” from the thirteen brokerages that are covering the company, MarketBeat reports. One analyst has rated the stock with a sell rating, two have given a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company. The average 12-month price objective among analysts that have updated their coverage on the stock in the last year is $135.8333.

Several analysts have weighed in on the company. Zacks Research downgraded State Street from a “strong-buy” rating to a “hold” rating in a research report on Monday, December 1st. Morgan Stanley lowered their price target on shares of State Street from $168.00 to $164.00 and set an “overweight” rating for the company in a report on Tuesday, January 20th. Loop Capital set a $144.00 price target on shares of State Street in a research report on Tuesday, January 6th. Wall Street Zen upgraded shares of State Street from a “sell” rating to a “hold” rating in a research report on Saturday, January 17th. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of State Street in a report on Wednesday, January 21st.

State Street Stock Performance

NYSE STT opened at $128.42 on Tuesday. The company has a 50-day simple moving average of $130.19 and a two-hundred day simple moving average of $121.25. State Street has a 12-month low of $72.81 and a 12-month high of $137.05. The firm has a market cap of $35.79 billion, a price-to-earnings ratio of 13.65, a PEG ratio of 1.13 and a beta of 1.43. The company has a quick ratio of 0.61, a current ratio of 0.61 and a debt-to-equity ratio of 1.04.

State Street (NYSE:STT) last released its earnings results on Friday, January 16th. The asset manager reported $2.97 earnings per share for the quarter, beating analysts’ consensus estimates of $2.82 by $0.15. The company had revenue of $3.67 billion during the quarter, compared to analyst estimates of $3.57 billion. State Street had a return on equity of 13.46% and a net margin of 13.02%.State Street’s revenue for the quarter was up 7.5% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.60 EPS. On average, equities analysts forecast that State Street will post 9.68 EPS for the current year.

State Street Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, April 13th. Shareholders of record on Wednesday, April 1st will be issued a $0.84 dividend. The ex-dividend date is Wednesday, April 1st. This represents a $3.36 annualized dividend and a yield of 2.6%. State Street’s dividend payout ratio (DPR) is 35.71%.

Hedge Funds Weigh In On State Street

Hedge funds and other institutional investors have recently made changes to their positions in the business. Regents of The University of California bought a new position in shares of State Street during the 3rd quarter valued at approximately $324,576,000. Jones Financial Companies Lllp lifted its holdings in State Street by 11.7% during the third quarter. Jones Financial Companies Lllp now owns 208,600 shares of the asset manager’s stock valued at $24,139,000 after purchasing an additional 21,810 shares in the last quarter. Machina Capital S.A.S. bought a new position in shares of State Street in the third quarter worth approximately $2,622,000. AE Wealth Management LLC purchased a new stake in shares of State Street in the third quarter worth $6,611,000. Finally, Impax Asset Management Group plc raised its position in shares of State Street by 49.2% during the 3rd quarter. Impax Asset Management Group plc now owns 127,984 shares of the asset manager’s stock valued at $14,847,000 after purchasing an additional 42,198 shares during the period. Institutional investors own 87.44% of the company’s stock.

About State Street

State Street Corporation is a global financial services company that provides a range of investment servicing, investment management and investment research and trading services to institutional investors. Its principal activities include custody and fund administration, securities lending, performance and risk analytics, trading and execution services, and foreign exchange. The company also offers investment management through State Street Global Advisors, a major provider of exchange-traded funds and institutional investment strategies.

State Street serves a broad client base of asset managers, insurance companies, pension funds, endowments, and other institutions across North America, Europe, Asia and other global markets.