State Street Co. (NYSE:STT) Receives $100.73 Average PT from Analysts

State Street Co. (NYSE:STT - Get Free Report) has earned an average recommendation of "Hold" from the fifteen analysts that are presently covering the firm, MarketBeat.com reports. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and seven have issued a buy rating on the company. The average twelve-month price objective among analysts that have covered the stock in the last year is $100.73.

STT has been the topic of several recent analyst reports. Wells Fargo & Company upped their price target on shares of State Street from $108.00 to $118.00 and gave the company an "overweight" rating in a report on Thursday, January 2nd. Keefe, Bruyette & Woods raised shares of State Street from a "market perform" rating to an "outperform" rating and upped their price target for the company from $105.00 to $120.00 in a report on Tuesday, December 3rd. StockNews.com cut shares of State Street from a "buy" rating to a "hold" rating in a report on Friday. Truist Financial cut their price target on shares of State Street from $106.00 to $104.00 and set a "hold" rating on the stock in a report on Tuesday, January 21st. Finally, Barclays upped their price target on shares of State Street from $108.00 to $127.00 and gave the company an "overweight" rating in a report on Monday, January 6th.

Insider Buying and Selling at State Street

In other news, EVP Kathryn M. Horgan sold 12,500 shares of the stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $97.97, for a total value of $1,224,625.00. Following the completion of the sale, the executive vice president now directly owns 111,042 shares of the company's stock, valued at $10,878,784.74. This represents a 10.12 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.31% of the company's stock.

Hedge Funds Weigh In On State Street

A number of hedge funds have recently added to or reduced their stakes in STT. Adero Partners LLC grew its holdings in State Street by 3.6% during the fourth quarter. Adero Partners LLC now owns 2,900 shares of the asset manager's stock valued at $285,000 after purchasing an additional 100 shares during the last quarter. Peapack Gladstone Financial Corp grew its holdings 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 valued at $467,000 after purchasing an additional 103 shares during the last quarter. Jacobi Capital Management LLC grew its holdings in State Street by 1.0% during the fourth quarter. Jacobi Capital Management LLC now owns 12,232 shares of the asset manager's stock valued at $1,201,000 after purchasing an additional 121 shares during the last quarter. Moors & Cabot Inc. grew its holdings 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 during the last quarter. Finally, Apollon Wealth Management LLC grew its holdings in State Street by 1.4% during the fourth quarter. Apollon Wealth Management LLC now owns 10,050 shares of the asset manager's stock valued at $986,000 after purchasing an additional 138 shares during the last quarter. Institutional investors and hedge funds own 87.44% of the company's stock.

State Street Trading Up 0.1 %

Shares of NYSE STT traded up $0.14 during midday trading on Friday, reaching $99.16. 1,520,694 shares of the stock were exchanged, compared to its average volume of 2,132,460. The company has a market capitalization of $29.07 billion, a P/E ratio of 12.03, a P/E/G ratio of 1.12 and a beta of 1.43. State Street has a 52-week low of $70.20 and a 52-week high of $103.00. The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 1.03. The stock has a 50 day moving average price of $98.59 and a 200-day moving average price of $92.29.

State Street (NYSE:STT - Get Free Report) last released its earnings results on Friday, January 17th. The asset manager reported $2.60 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.29 by $0.31. State Street had a net margin of 12.14% and a return on equity of 12.60%. The firm had revenue of $3.41 billion during the quarter, compared to the consensus estimate of $3.27 billion. During the same period in the previous year, the firm earned $2.04 earnings per share. State Street's revenue was up 12.1% compared to the same quarter last year. Equities research analysts expect that State Street will post 9.6 earnings per share for the current fiscal year.

State Street Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, January 13th. Shareholders of record on Thursday, January 2nd were paid a dividend of $0.76 per share. This represents a $3.04 dividend on an annualized basis and a yield of 3.07%. The ex-dividend date of this dividend was Thursday, January 2nd. State Street's dividend payout ratio is presently 36.89%.

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.