State Street Corporation (NYSE:STT) Given Consensus Recommendation of “Moderate Buy” by Analysts

State Street Corporation (NYSE:STT) has earned a consensus rating of “Moderate Buy” from the fifteen analysts that are currently covering the firm, Marketbeat.com reports. Four equities research analysts have rated the stock with a hold rating, eight have given a buy rating and three have given a strong buy rating to the company. The average twelve-month price objective among brokerages that have covered the stock in the last year is $158.5667.

STT has been the topic of several analyst reports. Morgan Stanley lifted their price objective on State Street from $155.00 to $166.00 and gave the stock an “overweight” rating in a report on Monday, April 20th. The Goldman Sachs Group boosted their price target on State Street from $152.00 to $168.00 and gave the company a “buy” rating in a report on Monday, April 20th. Truist Financial boosted their price target on State Street from $136.00 to $150.00 and gave the company a “hold” rating in a report on Monday, April 20th. Argus boosted their price target on State Street from $140.00 to $168.00 and gave the company a “buy” rating in a report on Tuesday, April 21st. Finally, Weiss Ratings upgraded State Street from a “buy (b)” rating to a “buy (b+)” rating in a report on Thursday, May 28th.

State Street Stock Up 0.1%

STT opened at $161.91 on Thursday. The company has a market cap of $44.81 billion, a P/E ratio of 16.42, a P/E/G ratio of 0.88 and a beta of 1.43. The business’s 50-day moving average price is $147.70 and its 200-day moving average price is $134.16. The company has a current ratio of 0.57, a quick ratio of 0.57 and a debt-to-equity ratio of 1.04. State Street has a 12 month low of $95.67 and a 12 month high of $163.95.

State Street (NYSE:STT) last released its quarterly earnings data on Friday, April 17th. The asset manager reported $2.84 EPS for the quarter, topping the consensus estimate of $2.64 by $0.20. The firm had revenue of $3.80 billion for the quarter, compared to the consensus estimate of $3.59 billion. State Street had a return on equity of 14.22% and a net margin of 13.47%.The company’s quarterly revenue was up 15.6% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.04 earnings per share. On average, equities analysts expect that State Street will post 12.35 EPS for the current year.

State Street Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, July 13th. Investors of record on Wednesday, July 1st will be issued a dividend of $0.84 per share. This represents a $3.36 dividend on an annualized basis and a yield of 2.1%. The ex-dividend date is Wednesday, July 1st. State Street’s payout ratio is currently 34.08%.

Insider Activity at State Street

In related news, EVP John Plansky sold 16,100 shares of the business’s stock in a transaction dated Wednesday, March 11th. The stock was sold at an average price of $124.32, for a total transaction of $2,001,552.00. Following the transaction, the executive vice president owned 56,162 shares in the company, valued at $6,982,059.84. The trade was a 22.28% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Hanley Ronald P. O sold 14,553 shares of the business’s stock in a transaction dated Tuesday, May 26th. The shares were sold at an average price of $155.35, for a total value of $2,260,808.55. Following the transaction, the chief executive officer owned 255,512 shares in the company, valued at approximately $39,693,789.20. This represents a 5.39% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 52,476 shares of company stock worth $7,624,925 over the last 90 days. 0.27% of the stock is owned by insiders.

Institutional Trading of State Street

Several large investors have recently bought and sold shares of the company. Parallel Advisors LLC boosted its position in State Street by 18.1% during the 1st quarter. Parallel Advisors LLC now owns 4,602 shares of the asset manager’s stock valued at $583,000 after acquiring an additional 705 shares in the last quarter. Regents of The University of California boosted its position in State Street by 15.6% during the 1st quarter. Regents of The University of California now owns 10,065,118 shares of the asset manager’s stock valued at $1,273,841,000 after acquiring an additional 1,358,923 shares in the last quarter. Carlson Capital L.P. boosted its position in State Street by 156.9% during the 1st quarter. Carlson Capital L.P. now owns 15,413 shares of the asset manager’s stock valued at $1,951,000 after acquiring an additional 9,413 shares in the last quarter. Axiom Investment Management LLC bought a new stake in State Street during the 1st quarter valued at approximately $89,000. Finally, CCM Investment Advisers LLC boosted its position in State Street by 8.8% during the 1st quarter. CCM Investment Advisers LLC now owns 83,669 shares of the asset manager’s stock valued at $10,589,000 after acquiring an additional 6,790 shares in the last quarter. 87.44% of the stock is owned by institutional investors.

State Street Company Profile

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.