State Street (NYSE:STT) Given New $195.00 Price Target at Keefe, Bruyette & Woods

State Street (NYSE:STT) had its price objective increased by Keefe, Bruyette & Woods from $175.00 to $195.00 in a research note published on Thursday,Benzinga reports. Keefe, Bruyette & Woods currently has an outperform rating on the asset manager’s stock.

Several other equities research analysts have also weighed in on the company. Argus upped their price objective on State Street from $140.00 to $168.00 and gave the company a “buy” rating in a research note on Tuesday, April 21st. Royal Bank Of Canada lifted their price target on shares of State Street from $135.00 to $155.00 and gave the company a “sector perform” rating in a report on Monday, April 20th. Weiss Ratings upgraded shares of State Street from a “buy (b)” rating to a “buy (b+)” rating in a research report on Thursday, May 28th. Seaport Research Partners reaffirmed a “buy” rating and set a $170.00 price objective on shares of State Street in a research note on Monday, April 20th. Finally, Evercore set a $186.00 price objective on shares of State Street and gave the stock an “outperform” rating in a report on Monday. One equities research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat.com, State Street presently has an average rating of “Moderate Buy” and an average price target of $173.91.

State Street Stock Performance

NYSE STT opened at $180.11 on Thursday. The company’s fifty day moving average is $161.92 and its two-hundred day moving average is $142.02. The company has a debt-to-equity ratio of 1.04, a current ratio of 0.57 and a quick ratio of 0.57. The firm has a market capitalization of $49.85 billion, a price-to-earnings ratio of 18.27, a P/E/G ratio of 0.91 and a beta of 1.42. State Street has a 52-week low of $101.98 and a 52-week high of $183.32.

State Street (NYSE:STT) last announced its quarterly earnings data on Friday, April 17th. The asset manager reported $2.84 earnings per share for the quarter, topping the consensus estimate of $2.64 by $0.20. State Street had a return on equity of 14.22% and a net margin of 13.47%.The company had revenue of $3.80 billion for the quarter, compared to analyst estimates of $3.59 billion. During the same quarter last year, the firm earned $2.04 EPS. State Street’s revenue for the quarter was up 15.6% compared to the same quarter last year. Equities research analysts forecast that State Street will post 12.75 EPS for the current year.

State Street Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, July 13th. Stockholders of record on Wednesday, July 1st will be given a $0.84 dividend. This represents a $3.36 annualized dividend and a dividend yield of 1.9%. The ex-dividend date is Wednesday, July 1st. State Street’s dividend payout ratio (DPR) is currently 34.08%.

Insider Buying and Selling

In other State Street news, COO Mostapha Tahiri sold 9,611 shares of the business’s stock in a transaction dated Wednesday, April 22nd. The stock was sold at an average price of $152.93, for a total value of $1,469,810.23. Following the completion of the transaction, the chief operating officer directly owned 64,642 shares of the company’s stock, valued at approximately $9,885,701.06. The trade was a 12.94% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Hanley Ronald P. O sold 14,553 shares of the business’s stock in a transaction that occurred on 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 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 sold 37,876 shares of company stock valued at $5,866,583 in the last three months. 0.27% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of STT. Harrell Investment Partners LLC bought a new position in shares of State Street during the second quarter worth about $264,000. Franklin Street Advisors Inc. NC bought a new stake in State Street during the second quarter worth about $237,000. Veery Capital LLC acquired a new position in State Street during the second quarter valued at approximately $201,000. Allied Private Wealth LLC acquired a new position in State Street during the second quarter valued at approximately $78,000. Finally, Hennion & Walsh Asset Management Inc. grew its stake in State Street by 37.0% in the second quarter. Hennion & Walsh Asset Management Inc. now owns 32,709 shares of the asset manager’s stock valued at $5,547,000 after purchasing an additional 8,841 shares in the last quarter. 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.