Citigroup Issues Pessimistic Forecast for State Street (NYSE:STT) Stock Price

State Street (NYSE:STT - Free Report) had its target price trimmed by Citigroup from $105.00 to $100.00 in a report published on Monday,Benzinga reports. They currently have a neutral rating on the asset manager's stock.

STT has been the subject of several other reports. Wolfe Research upgraded State Street from an "underperform" rating to a "peer perform" rating in a report on Monday, January 27th. Keefe, Bruyette & Woods upgraded shares of State Street from a "market perform" rating to an "outperform" rating and increased their price objective for the company from $105.00 to $120.00 in a research note on Tuesday, December 3rd. Truist Financial decreased their target price on shares of State Street from $106.00 to $104.00 and set a "hold" rating on the stock in a research report on Tuesday, January 21st. Deutsche Bank Aktiengesellschaft restated a "hold" rating and set a $103.00 price target (down previously from $104.00) on shares of State Street in a research note on Wednesday, January 22nd. Finally, JPMorgan Chase & Co. upgraded State Street from an "underweight" rating to a "neutral" rating and set a $95.00 price objective on the stock in a research note on Friday, December 20th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $101.53.

State Street Stock Down 3.1 %

State Street stock traded down $2.87 during trading hours on Monday, hitting $88.92. The company had a trading volume of 503,349 shares, compared to its average volume of 2,165,489. The firm has a market capitalization of $25.65 billion, a P/E ratio of 10.79, a price-to-earnings-growth ratio of 1.11 and a beta of 1.44. The company has a debt-to-equity ratio of 1.03, a current ratio of 0.56 and a quick ratio of 0.56. State Street has a fifty-two week low of $70.20 and a fifty-two week high of $103.00. The firm's fifty day moving average is $95.53 and its 200-day moving average is $94.36.

State Street (NYSE:STT - Get Free Report) last released its quarterly earnings data on Friday, January 17th. The asset manager reported $2.60 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.29 by $0.31. The business had revenue of $3.41 billion during the quarter, compared to analyst estimates of $3.27 billion. State Street had a net margin of 12.14% and a return on equity of 12.60%. State Street's quarterly revenue was up 12.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.04 EPS. On average, research analysts forecast that State Street will post 9.68 earnings per share for the current year.

State Street Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, April 11th. Stockholders of record on Tuesday, April 1st will be paid a $0.76 dividend. The ex-dividend date is Tuesday, April 1st. This represents a $3.04 dividend on an annualized basis and a dividend yield of 3.42%. State Street's dividend payout ratio (DPR) is presently 36.89%.

Insider Buying and Selling

In other State Street news, EVP Ann Fogarty sold 3,705 shares of the business's stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $99.47, for a total value of $368,536.35. Following the completion of the transaction, the executive vice president now directly owns 50,816 shares of the company's stock, valued at approximately $5,054,667.52. The trade was a 6.80 % 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, Director Gregory L. Summe sold 10,815 shares of the firm's stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $100.00, for a total value of $1,081,500.00. Following the sale, the director now directly owns 100,023 shares in the company, valued at approximately $10,002,300. This represents a 9.76 % decrease in their position. The disclosure for this sale can be found here. 0.31% of the stock is owned by insiders.

Institutional Investors Weigh In On State Street

Large investors have recently made changes to their positions in the stock. Albion Financial Group UT acquired a new position in State Street in the 4th quarter worth $25,000. Y.D. More Investments Ltd increased its stake in shares of State Street by 116.6% during the fourth quarter. Y.D. More Investments Ltd now owns 366 shares of the asset manager's stock worth $36,000 after purchasing an additional 197 shares during the period. Kohmann Bosshard Financial Services LLC bought a new position in State Street during the 4th quarter worth $42,000. Coppell Advisory Solutions LLC raised its stake in State Street by 2,942.9% in the 4th quarter. Coppell Advisory Solutions LLC now owns 426 shares of the asset manager's stock worth $42,000 after purchasing an additional 412 shares in the last quarter. Finally, Loomis Sayles & Co. L P boosted its holdings in State Street by 187.3% in the 4th quarter. Loomis Sayles & Co. L P now owns 477 shares of the asset manager's stock valued at $47,000 after purchasing an additional 311 shares during the period. Institutional investors own 87.44% of the company's stock.

About State Street

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.