Brokerages Set State Street Co. (NYSE:STT) PT at $101.07

Shares of State Street Co. (NYSE:STT - Get Free Report) have received an average rating of "Hold" from the fifteen ratings firms that are covering the firm, MarketBeat.com reports. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and seven have assigned a buy rating to the company. The average 1-year price objective among analysts that have issued ratings on the stock in the last year is $101.07.

STT has been the topic of a number of analyst reports. StockNews.com downgraded shares of State Street from a "buy" rating to a "hold" rating in a research note on Friday, March 7th. Citigroup decreased 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. Evercore ISI reduced their target price on State Street from $109.00 to $106.00 and set an "outperform" rating on the stock in a report on Tuesday, April 1st. JPMorgan Chase & Co. raised State Street from an "underweight" rating to a "neutral" rating and set a $95.00 price target for the company in a report on Friday, December 20th. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a "hold" rating and issued a $103.00 price objective (down from $104.00) on shares of State Street in a research note on Wednesday, January 22nd.

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State Street Stock Performance

Shares of NYSE:STT traded up $7.14 on Friday, reaching $82.47. 2,892,206 shares of the company's stock were exchanged, compared to its average volume of 2,196,140. The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 1.03. State Street has a twelve month low of $70.20 and a twelve month high of $103.00. The company has a fifty day moving average of $91.80 and a 200-day moving average of $94.12. The company has a market capitalization of $23.80 billion, a price-to-earnings ratio of 10.01, a PEG ratio of 1.11 and a beta of 1.42.

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

State Street Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, April 11th. Shareholders of record on Tuesday, April 1st will be issued a dividend of $0.76 per share. This represents a $3.04 annualized dividend and a yield of 3.69%. The ex-dividend date is Tuesday, April 1st. State Street's payout ratio is presently 36.89%.

Insider Activity

In related 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 transaction of $368,536.35. Following the completion of the transaction, the executive vice president now owns 50,816 shares of the company's stock, valued at $5,054,667.52. This trade represents a 6.80 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Gregory L. Summe sold 10,815 shares of the company's stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $100.00, for a total transaction of $1,081,500.00. Following the sale, the director now directly owns 100,023 shares in the company, valued at $10,002,300. This trade represents a 9.76 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.31% of the company's stock.

Hedge Funds Weigh In On State Street

A number of institutional investors and hedge funds have recently modified their holdings of STT. Norges Bank bought a new position in State Street during the fourth quarter worth $161,021,000. Price T Rowe Associates Inc. MD raised its holdings in shares of State Street by 236.3% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 2,309,130 shares of the asset manager's stock valued at $226,642,000 after purchasing an additional 1,622,408 shares during the period. FMR LLC boosted its position in shares of State Street by 14.2% during the 4th quarter. FMR LLC now owns 6,983,607 shares of the asset manager's stock worth $685,441,000 after purchasing an additional 870,849 shares in the last quarter. Azora Capital LP acquired a new stake in shares of State Street in the 4th quarter valued at about $80,294,000. Finally, Northern Trust Corp increased its position in State Street by 15.7% in the 4th quarter. Northern Trust Corp now owns 4,148,410 shares of the asset manager's stock valued at $407,166,000 after buying an additional 563,790 shares in the last quarter. 87.44% of the stock is currently owned by institutional investors.

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.