BMO Capital Markets Cuts State Street (NYSE:STT) Price Target to $200.00

State Street (NYSE:STT) had its price objective decreased by BMO Capital Markets from $212.00 to $200.00 in a research note released on Tuesday morning,Benzinga reports. BMO Capital Markets currently has an outperform rating on the asset manager’s stock.

Other analysts have also recently issued research reports about the stock. Evercore set a $200.00 price objective on shares of State Street in a research note on Monday, July 20th. The Goldman Sachs Group upped their target price on shares of State Street from $168.00 to $194.00 and gave the stock a “buy” rating in a research report on Tuesday, June 30th. JPMorgan Chase & Co. lifted their price target on shares of State Street from $187.00 to $187.50 and gave the company a “neutral” rating in a research report on Friday, October 2nd. Keefe, Bruyette & Woods boosted their price target on State Street from $195.00 to $215.00 and gave the stock an “outperform” rating in a research note on Friday, July 17th. Finally, Zacks Research cut State Street from a “strong-buy” rating to a “hold” rating in a report on Friday, September 18th. Ten research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to data from MarketBeat.com, State Street currently has a consensus rating of “Moderate Buy” and an average price target of $193.38.

State Street Trading Up 0.6%

Shares of STT stock opened at $175.27 on Tuesday. The business’s fifty day moving average price is $185.94 and its 200 day moving average price is $167.95. The firm has a market capitalization of $48.15 billion, a PE ratio of 15.46, a P/E/G ratio of 0.83 and a beta of 1.41. The company has a debt-to-equity ratio of 1.04, a current ratio of 0.59 and a quick ratio of 0.59. State Street has a 1-year low of $104.64 and a 1-year high of $195.93.

State Street (NYSE:STT) last released its earnings results on Thursday, July 16th. The asset manager reported $3.65 EPS for the quarter, beating analysts’ consensus estimates of $3.34 by $0.31. The company had revenue of $4.05 billion during the quarter, compared to the consensus estimate of $3.88 billion. State Street had a return on equity of 15.26% and a net margin of 15.02%.State Street’s quarterly revenue was up 23.3% compared to the same quarter last year. During the same quarter last year, the company earned $2.04 earnings per share. As a group, sell-side analysts forecast that State Street will post 13.8 EPS for the current fiscal year.

State Street Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 13th. Shareholders of record on Thursday, October 1st will be issued a dividend of $0.92 per share. This is an increase from State Street’s previous quarterly dividend of $0.84. The ex-dividend date is Thursday, October 1st. This represents a $3.68 annualized dividend and a yield of 2.1%. State Street’s payout ratio is 32.45%.

Insider Transactions at State Street

In other State Street news, EVP W. Hu sold 9,758 shares of the company’s stock in a transaction dated Friday, July 24th. The shares were sold at an average price of $184.52, for a total value of $1,800,546.16. Following the sale, the executive vice president owned 49,794 shares of the company’s stock, valued at $9,187,988.88. This represents a 16.39% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Ronald O’Hanley sold 14,553 shares of the firm’s stock in a transaction that occurred on Tuesday, July 21st. The stock was sold at an average price of $184.17, for a total transaction of $2,680,226.01. Following the transaction, the chief executive officer directly owned 240,959 shares of the company’s stock, valued at approximately $44,377,419.03. This trade represents a 5.70% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 0.27% of the company’s stock.

Hedge Funds Weigh In On State Street

Several hedge funds have recently bought and sold shares of the stock. BlackRock Inc. purchased a new stake in shares of State Street in the second quarter valued at $4,139,389,000. State Street Corp increased its position in State Street by 1.2% during the 2nd quarter. State Street Corp now owns 13,538,311 shares of the asset manager’s stock worth $2,296,098,000 after purchasing an additional 163,362 shares in the last quarter. Regents of The University of California raised its stake in State Street by 15.6% in the 1st quarter. Regents of The University of California now owns 10,065,118 shares of the asset manager’s stock valued at $1,273,841,000 after purchasing an additional 1,358,923 shares during the last quarter. Victory Capital Management Inc. raised its stake in State Street by 30.8% in the 4th quarter. Victory Capital Management Inc. now owns 4,559,546 shares of the asset manager’s stock valued at $588,227,000 after purchasing an additional 1,074,174 shares during the last quarter. Finally, Franklin Resources Inc. lifted its holdings in State Street by 1.7% in the 4th quarter. Franklin Resources Inc. now owns 3,926,321 shares of the asset manager’s stock valued at $506,534,000 after purchasing an additional 67,309 shares in the last quarter. Hedge funds and other institutional investors own 87.44% of the company’s stock.

More State Street News

Here are the key news stories impacting State Street this week:

• Positive Sentiment: TD Cowen initiated coverage with a “buy” rating and a $205 price target, implying approximately 17% potential upside from the referenced stock price. The endorsement provides a new positive valuation signal for State Street. Benzinga coverage of State Street
• Positive Sentiment: State Street’s SPYM ETF is the initial default investment vehicle for Trump Accounts, which now cover nearly 70 million children. If contributions remain invested in the fund, the program could create substantial long-term assets under management and recurring fee revenue for State Street Investment Management. Trump Accounts and State Street
• Positive Sentiment: Analysts expect earnings growth and a potential beat in State Street’s upcoming report. Recent operating momentum, including stronger prior-quarter revenue and earnings, supports investor optimism ahead of results. Zacks State Street earnings expectations
• Neutral Sentiment: Active ETF inflows reached a record $576.2 billion through September. The industry trend could benefit State Street’s ETF platform, although the report does not identify a specific revenue impact for STT. Active ETF inflows report
• Neutral Sentiment: State Street Investment Management is highlighting ETF liquidity research, arguing that expense ratios alone may not reflect investors’ total trading costs. The thought leadership may support the business’s competitive positioning but is not a material near-term earnings catalyst. ETF liquidity myths
• Negative Sentiment: State Street reported falling below a substantial-holder threshold in SRG Global, indicating a reduced disclosed stake. The development appears company-specific to the investment holding and is unlikely to materially affect STT’s core operations. State Street SRG Global holding update

About State Street

State Street Corporation (NYSE: STT) is a financial services company that provides institutional investors, asset managers, asset owners, insurance companies, official institutions and other organizations with investment servicing, investment management and related financial services. Its offerings include custody and fund administration, accounting, transfer agency, collateral management, securities lending, foreign exchange, trading and other capital markets services.

Through State Street Investment Management, the company manages investment strategies and offers products such as exchange-traded funds, index strategies, active strategies and other portfolio solutions.