Brokerages Set State Street Co. (NYSE:STT) Target Price at $100.33

Shares of State Street Co. (NYSE:STT - Get Free Report) have received an average rating of "Hold" from the fifteen research firms that are presently covering the firm, MarketBeat reports. Two investment analysts have rated the stock with a sell recommendation, six have assigned a hold recommendation and seven have assigned a buy recommendation to the company. The average 1-year target price among brokerages that have issued ratings on the stock in the last year is $100.33.

Several equities analysts have commented on STT shares. Deutsche Bank Aktiengesellschaft upped their price objective on State Street from $90.00 to $95.00 and gave the company a "hold" rating in a research report on Monday, November 11th. Barclays lifted their price target on State Street from $108.00 to $127.00 and gave the company an "overweight" rating in a report on Monday, January 6th. StockNews.com cut shares of State Street from a "buy" rating to a "hold" rating in a research report on Friday. Keefe, Bruyette & Woods upgraded State Street from a "market perform" rating to an "outperform" rating and increased their price target for the company from $105.00 to $120.00 in a research note on Tuesday, December 3rd. Finally, Truist Financial assumed coverage on State Street in a research note on Tuesday, January 7th. They set a "hold" rating and a $106.00 price target on the stock.

State Street Price Performance

Shares of NYSE:STT traded down $2.98 on Monday, reaching $97.51. The company's stock had a trading volume of 4,204,955 shares, compared to its average volume of 1,658,874. The company has a 50-day simple moving average of $97.72 and a 200 day simple moving average of $89.74. State Street has a 52-week low of $70.20 and a 52-week high of $101.91. The company has a debt-to-equity ratio of 0.91, a quick ratio of 0.56 and a current ratio of 0.56. The company has a market cap of $28.58 billion, a P/E ratio of 15.40, a PEG ratio of 0.97 and a beta of 1.43.

State Street (NYSE:STT - Get Free Report) last released its quarterly earnings results on Friday, January 17th. The asset manager reported $2.60 earnings per share for the quarter, beating the consensus estimate of $2.29 by $0.31. The company had revenue of $3.41 billion for the quarter, compared to analyst estimates of $3,267,560 billion. State Street had a return on equity of 12.02% and a net margin of 9.87%. State Street's quarterly revenue was up 12.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.04 EPS. As a group, equities research analysts anticipate that State Street will post 8.45 EPS for the current fiscal year.

State Street Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, January 13th. Shareholders of record on Thursday, January 2nd were issued a $0.76 dividend. This represents a $3.04 annualized dividend and a yield of 3.12%. The ex-dividend date of this dividend was Thursday, January 2nd. State Street's payout ratio is 48.03%.

Insiders Place Their Bets

In other news, EVP Kathryn M. Horgan sold 12,500 shares of State Street stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $97.97, for a total transaction of $1,224,625.00. Following the completion of the transaction, the executive vice president now directly owns 111,042 shares of the company's stock, valued at $10,878,784.74. The trade was a 10.12 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.31% of the stock is owned by insiders.

Institutional Trading of State Street

Several hedge funds and other institutional investors have recently added to or reduced their stakes in STT. Benjamin F. Edwards & Company Inc. raised its stake in shares of State Street by 5.4% during the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 2,514 shares of the asset manager's stock worth $186,000 after buying an additional 129 shares during the period. Skandinaviska Enskilda Banken AB publ lifted its holdings in State Street by 152.0% during the second quarter. Skandinaviska Enskilda Banken AB publ now owns 150,022 shares of the asset manager's stock valued at $11,102,000 after purchasing an additional 90,500 shares in the last quarter. Pacer Advisors Inc. grew its position in shares of State Street by 4.6% in the second quarter. Pacer Advisors Inc. now owns 20,939 shares of the asset manager's stock valued at $1,549,000 after purchasing an additional 922 shares during the period. Sei Investments Co. increased its stake in shares of State Street by 14.5% during the second quarter. Sei Investments Co. now owns 500,238 shares of the asset manager's stock worth $37,017,000 after purchasing an additional 63,438 shares in the last quarter. Finally, Ensign Peak Advisors Inc raised its position in shares of State Street by 39.3% during the 2nd quarter. Ensign Peak Advisors Inc now owns 145,859 shares of the asset manager's stock worth $10,794,000 after purchasing an additional 41,180 shares during the last quarter. Institutional investors and hedge funds own 87.44% of the company's stock.

State Street Company Profile

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.