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

State Street Corporation (NYSE:STT) has earned a consensus rating of “Moderate Buy” from the fifteen ratings firms that are currently covering the stock, MarketBeat reports. Four equities research analysts have rated the stock with a hold rating, eight have given a buy rating and three have assigned a strong buy rating to the company. The average 1-year price target among brokerages that have issued ratings on the stock in the last year is $158.5667.

A number of equities research analysts have weighed in on STT shares. Keefe, Bruyette & Woods lifted their price target on shares of State Street from $157.00 to $175.00 and gave the stock an “outperform” rating in a research note on Monday, April 20th. Zacks Research upgraded shares of State Street from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, April 21st. Evercore set a $158.00 price target on shares of State Street and gave the stock an “outperform” rating in a research note on Monday, April 20th. Seaport Research Partners reiterated a “buy” rating and set a $170.00 price target on shares of State Street in a research note on Monday, April 20th. Finally, Argus lifted their price target on shares of State Street from $140.00 to $168.00 and gave the stock a “buy” rating in a research note on Tuesday, April 21st.

Insider Buying and Selling

In related news, EVP Michael L. Richards sold 3,000 shares of State Street stock in a transaction dated Wednesday, April 22nd. The stock was sold at an average price of $153.89, for a total value of $461,670.00. Following the completion of the transaction, the executive vice president directly owned 43,522 shares of the company’s stock, valued at $6,697,600.58. The trade was a 6.45% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Hanley Ronald P. O sold 14,553 shares of State Street 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 completion of the transaction, the chief executive officer directly owned 255,512 shares of the company’s stock, valued at $39,693,789.20. This represents a 5.39% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 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 in the last three months. Company insiders own 0.27% of the company’s stock.

Institutional Trading of State Street

Several institutional investors and hedge funds have recently added to or reduced their stakes in STT. Regents of The University of California acquired a new position in shares of State Street during the 3rd quarter worth about $324,576,000. Jones Financial Companies Lllp grew its position in shares of State Street by 11.7% during the 3rd quarter. Jones Financial Companies Lllp now owns 208,600 shares of the asset manager’s stock worth $24,139,000 after buying an additional 21,810 shares during the period. Machina Capital S.A.S. acquired a new position in shares of State Street in the 3rd quarter valued at approximately $2,622,000. Impax Asset Management Group plc grew its position in shares of State Street by 49.2% in 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. Finally, Nordea Investment Management AB grew its position in shares of State Street by 15.4% in the 4th quarter. Nordea Investment Management AB now owns 2,829,271 shares of the asset manager’s stock valued at $367,041,000 after purchasing an additional 377,568 shares during the period. 87.44% of the stock is owned by institutional investors.

State Street Stock Down 1.0%

STT opened at $158.19 on Thursday. The business has a 50 day moving average of $145.54 and a 200-day moving average of $133.15. The stock has a market capitalization of $43.78 billion, a price-to-earnings ratio of 16.04, a P/E/G ratio of 0.87 and a beta of 1.43. 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 1-year low of $95.61 and a 1-year high of $161.79.

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

State Street Dividend Announcement

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

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.