Keefe, Bruyette & Woods Cuts State Street (NYSE:STT) Price Target to $113.00

State Street (NYSE:STT - Free Report) had its target price cut by Keefe, Bruyette & Woods from $118.00 to $113.00 in a report issued on Monday,Benzinga reports. They currently have an outperform rating on the asset manager's stock.

STT has been the subject of several other research reports. Morgan Stanley cut their price objective on State Street from $139.00 to $132.00 and set an "overweight" rating for the company in a report on Wednesday, April 2nd. Evercore ISI reduced their price target on shares of State Street from $109.00 to $106.00 and set an "outperform" rating for the company in a research report on Tuesday, April 1st. Citigroup dropped their price objective on shares of State Street from $105.00 to $100.00 and set a "neutral" rating on the stock in a research note on Monday, March 24th. The Goldman Sachs Group set a $98.00 price objective on State Street and gave the company a "buy" rating in a research report on Thursday, April 17th. Finally, Barclays lowered their price target on State Street from $127.00 to $120.00 and set an "overweight" rating on the stock in a report on Monday. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $102.15.

State Street Stock Up 1.6 %

NYSE:STT traded up $1.35 during mid-day trading on Monday, reaching $86.87. The stock had a trading volume of 205,680 shares, compared to its average volume of 2,187,031. The company has a debt-to-equity ratio of 1.03, a current ratio of 0.56 and a quick ratio of 0.56. The company has a market capitalization of $25.07 billion, a price-to-earnings ratio of 10.52, a price-to-earnings-growth ratio of 1.11 and a beta of 1.42. State Street has a 1-year low of $70.20 and a 1-year high of $103.00. The stock's 50 day simple moving average is $88.30 and its two-hundred day simple moving average is $93.65.

State Street (NYSE:STT - Get Free Report) last released its quarterly earnings data on Thursday, April 17th. The asset manager reported $2.04 earnings per share for the quarter, topping the consensus estimate of $1.98 by $0.06. The firm had revenue of $3.28 billion for the quarter, compared to analyst estimates of $3.30 billion. State Street had a net margin of 12.14% and a return on equity of 12.60%. During the same quarter in the prior year, the business earned $1.69 earnings per share. Equities analysts anticipate that State Street will post 9.68 EPS for the current year.

State Street Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, April 11th. Investors of record on Tuesday, April 1st were paid a dividend of $0.76 per share. The ex-dividend date was Tuesday, April 1st. This represents a $3.04 dividend on an annualized basis and a dividend yield of 3.50%. State Street's dividend payout ratio (DPR) is presently 34.12%.

Insider Buying and Selling at State Street

In other State Street news, EVP Ann Fogarty sold 3,705 shares of State Street stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $99.47, for a total value of $368,536.35. Following the sale, the executive vice president now directly owns 50,816 shares in the company, valued at approximately $5,054,667.52. The trade was a 6.80 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Gregory L. Summe sold 10,815 shares of State Street stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $100.00, for a total value of $1,081,500.00. Following the completion of 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. Insiders own 0.29% of the company's stock.

Hedge Funds Weigh In On State Street

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Adero Partners LLC grew its stake in State Street by 3.6% in the 4th quarter. Adero Partners LLC now owns 2,900 shares of the asset manager's stock valued at $285,000 after buying an additional 100 shares during the last quarter. Peapack Gladstone Financial Corp grew its stake in State Street by 2.0% during the third quarter. Peapack Gladstone Financial Corp now owns 5,283 shares of the asset manager's stock worth $467,000 after buying an additional 103 shares in the last quarter. Sequoia Financial Advisors LLC raised its position in shares of State Street by 2.7% in the 1st quarter. Sequoia Financial Advisors LLC now owns 4,414 shares of the asset manager's stock valued at $395,000 after buying an additional 118 shares in the last quarter. Jacobi Capital Management LLC lifted its holdings in shares of State Street by 1.0% during the 4th quarter. Jacobi Capital Management LLC now owns 12,232 shares of the asset manager's stock worth $1,201,000 after acquiring an additional 121 shares during the period. Finally, Moors & Cabot Inc. raised its position in State Street by 0.7% during the fourth quarter. Moors & Cabot Inc. now owns 18,332 shares of the asset manager's stock valued at $1,799,000 after purchasing an additional 131 shares in the last quarter. 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.