State Street Co. (NYSE:STT) Receives Consensus Rating of “Hold” from Analysts

Shares of State Street Co. (NYSE:STT) have been assigned a consensus rating of “Hold” from the twelve ratings firms that are covering the firm, MarketBeat Ratings reports. Three investment 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 target price among brokers that have issued a report on the stock in the last year is $83.11.

Several equities research analysts have commented on STT shares. Argus upped their price target on State Street from $84.00 to $86.00 and gave the stock a “buy” rating in a research note on Monday, April 15th. Keefe, Bruyette & Woods lowered their target price on State Street from $88.00 to $84.00 and set a “market perform” rating for the company in a research note on Thursday, June 27th. Morgan Stanley reiterated an “equal weight” rating and issued a $90.00 target price on shares of State Street in a research note on Wednesday, June 12th. JPMorgan Chase & Co. raised their price objective on State Street from $79.50 to $80.50 in a research note on Friday, April 12th. Finally, UBS Group increased their target price on State Street from $80.00 to $82.00 and gave the stock a “neutral” rating in a report on Friday, April 12th.

State Street Trading Down 0.5 %

Shares of STT stock opened at $73.37 on Thursday. The business’s fifty day moving average price is $74.29 and its 200 day moving average price is $74.51. State Street has a 1-year low of $62.78 and a 1-year high of $79.90. The firm has a market capitalization of $22.10 billion, a PE ratio of 13.74, a P/E/G ratio of 1.28 and a beta of 1.48. The company has a debt-to-equity ratio of 0.90, a current ratio of 0.61 and a quick ratio of 0.61.

State Street (NYSE:STT) last issued its quarterly earnings data on Friday, April 12th. The asset manager reported $1.69 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.48 by $0.21. State Street had a return on equity of 12.03% and a net margin of 9.62%. The business had revenue of $3.14 billion for the quarter, compared to the consensus estimate of $3.06 billion. As a group, sell-side analysts forecast that State Street will post 7.95 EPS for the current fiscal year.

State Street Dividend Announcement

The company also recently disclosed 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 annualized dividend and a yield of 3.76%. The ex-dividend date is Monday, July 1st. State Street’s dividend payout ratio is 51.69%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. LRI Investments LLC acquired a new stake in State Street during the 1st quarter worth $25,000. CVA Family Office LLC acquired a new stake in State Street during the 4th quarter worth $27,000. Venturi Wealth Management LLC raised its stake in 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 buying an additional 184 shares during the period. Turtle Creek Wealth Advisors LLC acquired a new stake in State Street during the 4th quarter worth $35,000. Finally, Norwood Financial Corp acquired a new stake in State Street during the 1st quarter worth $35,000. 87.44% of the stock is currently owned by 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.