State Street Co. (NYSE:STT) Receives $83.88 Average PT from Analysts

State Street Co. (NYSE:STT) has been given a consensus rating of “Hold” by the twelve research firms that are covering the stock, MarketBeat.com reports. Three equities research analysts have rated the stock with a sell rating, four have issued a hold rating and five have given a buy rating to the company. The average 1-year price target among analysts that have issued a report on the stock in the last year is $83.11.

Several brokerages have recently weighed in on STT. Evercore ISI reissued an “outperform” rating and issued a $88.00 target price on shares of State Street in a research note on Wednesday, July 3rd. Keefe, Bruyette & Woods reduced their price target on shares of State Street from $88.00 to $84.00 and set a “market perform” rating on the stock in a research note on Thursday, June 27th. UBS Group raised their price target on shares of State Street from $80.00 to $82.00 and gave the stock a “neutral” rating in a research note on Friday, April 12th. Morgan Stanley reaffirmed an “equal weight” rating and issued a $90.00 price target on shares of State Street in a research note on Wednesday, June 12th. Finally, Argus raised their price target on shares of State Street from $84.00 to $86.00 and gave the stock a “buy” rating in a research note on Monday, April 15th.

State Street Price Performance

Shares of NYSE:STT opened at $75.49 on Thursday. The firm has a market cap of $22.74 billion, a price-to-earnings ratio of 14.14, a P/E/G ratio of 1.27 and a beta of 1.48. The firm has a fifty day moving average price of $74.38 and a 200 day moving average price of $74.50. The company has a debt-to-equity ratio of 0.90, a quick ratio of 0.61 and a current ratio of 0.61. State Street has a fifty-two week low of $62.78 and a fifty-two week high of $79.90.

State Street (NYSE:STT) last released its quarterly earnings results on Friday, April 12th. The asset manager reported $1.69 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.48 by $0.21. The company had revenue of $3.14 billion for the quarter, compared to the consensus estimate of $3.06 billion. State Street had a net margin of 9.62% and a return on equity of 12.03%. As a group, sell-side analysts expect that State Street will post 7.95 earnings per share for the current fiscal year.

State Street Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 11th. Investors of record on Monday, July 1st will be given a $0.69 dividend. This represents a $2.76 annualized dividend and a dividend yield of 3.66%. The ex-dividend date is Monday, July 1st. State Street’s payout ratio is currently 51.69%.

Hedge Funds Weigh In On State Street

Several hedge funds and other institutional investors have recently modified their holdings of STT. LRI Investments LLC purchased a new position in State Street during the 1st quarter worth approximately $25,000. CVA Family Office LLC purchased a new position in State Street during the 4th quarter worth approximately $27,000. Venturi Wealth Management LLC raised its position in State Street by 92.5% during the 4th quarter. Venturi Wealth Management LLC now owns 383 shares of the asset manager’s stock worth $30,000 after buying an additional 184 shares during the last quarter. Turtle Creek Wealth Advisors LLC purchased a new position in State Street during the 4th quarter worth approximately $35,000. Finally, Norwood Financial Corp purchased a new position in State Street during the 1st quarter worth approximately $35,000. 87.44% of the stock is owned by hedge funds and other institutional investors.

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.