State Street Corporation (NYSE:STT) Given Average Rating of “Moderate Buy” by Brokerages

State Street Corporation (NYSE:STT) has received a consensus recommendation of “Moderate Buy” from the thirteen ratings firms that are currently covering the firm, MarketBeat.com reports. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company. The average twelve-month price target among analysts that have issued ratings on the stock in the last year is $135.8333.

STT has been the topic of a number of recent analyst reports. Weiss Ratings reaffirmed a “buy (b)” rating on shares of State Street in a research report on Wednesday, January 21st. Citigroup initiated coverage on shares of State Street in a research note on Monday. They issued a “buy” rating and a $150.00 price objective for the company. Zacks Research cut State Street from a “strong-buy” rating to a “hold” rating in a research report on Monday, December 1st. Wall Street Zen raised State Street from a “sell” rating to a “hold” rating in a report on Saturday, January 17th. Finally, Morgan Stanley dropped their price target on State Street from $168.00 to $164.00 and set an “overweight” rating on the stock in a research note on Tuesday, January 20th.

Institutional Trading of State Street

A number of large investors have recently bought and sold shares of the business. Regents of The University of California purchased a new stake in shares of State Street during the 3rd quarter worth $324,576,000. Jones Financial Companies Lllp lifted its stake in shares of State Street by 11.7% in 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 during the period. Machina Capital S.A.S. purchased a new stake in State Street during the third quarter worth about $2,622,000. AE Wealth Management LLC purchased a new stake in State Street during the third quarter worth about $6,611,000. Finally, Impax Asset Management Group plc grew its position in State Street by 49.2% during the third quarter. Impax Asset Management Group plc now owns 127,984 shares of the asset manager’s stock worth $14,847,000 after buying an additional 42,198 shares during the period. Institutional investors and hedge funds own 87.44% of the company’s stock.

State Street Price Performance

Shares of NYSE STT opened at $125.00 on Tuesday. The stock’s 50-day simple moving average is $130.01 and its 200-day simple moving average is $120.78. The firm has a market capitalization of $34.84 billion, a PE ratio of 13.28, a price-to-earnings-growth ratio of 1.12 and a beta of 1.43. State Street has a fifty-two week low of $72.81 and a fifty-two week high of $137.05. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.61 and a current ratio of 0.61.

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

State Street Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, April 13th. Stockholders of record on Wednesday, April 1st will be given a dividend of $0.84 per share. The ex-dividend date is Wednesday, April 1st. This represents a $3.36 dividend on an annualized basis and a dividend yield of 2.7%. State Street’s dividend payout ratio (DPR) is 35.71%.

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.