State Street Co. (NYSE:STT) Given Average Rating of “Hold” by Analysts

State Street Co. (NYSE:STT) has been assigned an average rating of “Hold” from the eleven analysts that are currently covering the stock, Marketbeat.com reports. Two equities research analysts have rated the stock with a sell recommendation, four have given a hold recommendation and five have issued a buy recommendation on the company. The average twelve-month price target among brokers that have issued a report on the stock in the last year is $84.04.

Several equities research analysts recently issued reports on STT shares. Argus increased their target price on shares of State Street from $84.00 to $86.00 and gave the stock a “buy” rating in a report on Monday, April 15th. Keefe, Bruyette & Woods cut their price objective on shares of State Street from $89.00 to $86.00 and set a “market perform” rating for the company in a report on Monday, January 22nd. Royal Bank of Canada increased their price objective on shares of State Street from $75.00 to $85.00 and gave the company a “sector perform” rating in a report on Monday, January 22nd. The Goldman Sachs Group raised shares of State Street from a “neutral” rating to a “buy” rating and raised their target price for the company from $69.00 to $92.00 in a report on Wednesday, January 3rd. Finally, JPMorgan Chase & Co. raised their target price on shares of State Street from $79.50 to $80.50 in a report on Friday, April 12th.

Insider Transactions at State Street

In related news, EVP Anthony Bisegna sold 4,258 shares of State Street stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $73.64, for a total value of $313,559.12. Following the completion of the sale, the executive vice president now directly owns 23,328 shares in the company, valued at $1,717,873.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, EVP Anthony Bisegna sold 4,258 shares of State Street stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $73.64, for a total value of $313,559.12. Following the completion of the sale, the executive vice president now directly owns 23,328 shares in the company, valued at $1,717,873.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Eric W. Aboaf sold 12,000 shares of State Street stock in a transaction dated Thursday, February 29th. The shares were sold at an average price of $73.90, for a total value of $886,800.00. Following the completion of the sale, the chief financial officer now owns 149,063 shares of the company’s stock, valued at $11,015,755.70. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 18,864 shares of company stock worth $1,390,597. 0.31% of the stock is currently owned by insiders.

Hedge Funds Weigh In On State Street

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Norges Bank purchased a new stake in shares of State Street during the fourth quarter worth about $184,482,000. Morgan Stanley lifted its holdings in shares of State Street by 31.1% during the fourth quarter. Morgan Stanley now owns 6,031,661 shares of the asset manager’s stock worth $467,876,000 after purchasing an additional 1,430,237 shares during the period. Eaton Vance Management lifted its holdings in shares of State Street by 159.8% during the first quarter. Eaton Vance Management now owns 1,750,857 shares of the asset manager’s stock worth $152,535,000 after purchasing an additional 1,077,013 shares during the period. AustralianSuper Pty Ltd lifted its holdings in shares of State Street by 327.0% during the third quarter. AustralianSuper Pty Ltd now owns 1,325,417 shares of the asset manager’s stock worth $88,750,000 after purchasing an additional 1,015,022 shares during the period. Finally, AEGON ASSET MANAGEMENT UK Plc acquired a new stake in shares of State Street during the fourth quarter worth about $45,687,000. Hedge funds and other institutional investors own 87.44% of the company’s stock.

State Street Price Performance

Shares of NYSE:STT opened at $73.37 on Friday. The firm’s 50 day moving average price is $74.00 and its 200-day moving average price is $72.42. The stock has a market capitalization of $22.15 billion, a PE ratio of 13.74, a price-to-earnings-growth ratio of 1.30 and a beta of 1.52. State Street has a twelve month low of $62.78 and a twelve month high of $79.90. The company has a quick ratio of 0.55, a current ratio of 0.61 and a debt-to-equity ratio of 0.90.

State Street (NYSE:STT) last released its earnings results on Friday, January 19th. The asset manager reported $2.04 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.83 by $0.21. The company had revenue of $3.04 billion during the quarter, compared to analyst estimates of $2.95 billion. State Street had a net margin of 9.62% and a return on equity of 12.03%. The firm’s quarterly revenue was down 3.5% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.07 EPS. Equities research analysts expect that State Street will post 7.91 EPS for the current year.

State Street Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, April 11th. Stockholders of record on Monday, April 1st were given a dividend of $0.69 per share. The ex-dividend date was Thursday, March 28th. This represents a $2.76 annualized dividend and a dividend yield of 3.76%. State Street’s dividend payout ratio (DPR) is 51.69%.

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.