Brokerages Set State Street Corporation (NYSE:STT) PT at $114.18

State Street Corporation (NYSE:STT) has earned an average rating of “Moderate Buy” from the fifteen analysts that are currently covering the stock, MarketBeat Ratings reports. One analyst has rated the stock with a sell rating, three have issued a hold rating and eleven have issued a buy rating on the company. The average 12 month target price among analysts that have issued a report on the stock in the last year is $122.6667.

Several equities analysts have recently commented on the stock. Cfra Research raised shares of State Street from a “hold” rating to a “moderate buy” rating in a research note on Tuesday, July 15th. Bank of America upped their price target on State Street from $106.00 to $109.00 and gave the company an “underperform” rating in a research report on Wednesday, July 16th. Wells Fargo & Company lifted their price objective on State Street from $113.00 to $121.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 8th. Weiss Ratings reissued a “buy (b)” rating on shares of State Street in a research note on Saturday, September 27th. Finally, BMO Capital Markets began coverage on State Street in a research note on Friday. They issued an “outperform” rating and a $130.00 price target for the company.

Insider Activity

In related news, EVP Michael L. Richards sold 990 shares of the business’s stock in a transaction dated Tuesday, July 22nd. The shares were sold at an average price of $109.29, for a total transaction of $108,197.10. Following the transaction, the executive vice president owned 41,332 shares in the company, valued at $4,517,174.28. The trade was a 2.34% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.29% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Aaron Wealth Advisors LLC raised its position in shares of State Street by 289.8% in the 3rd quarter. Aaron Wealth Advisors LLC now owns 10,318 shares of the asset manager’s stock worth $1,197,000 after acquiring an additional 7,671 shares in the last quarter. GAMMA Investing LLC grew its stake in State Street by 19.0% in the third quarter. GAMMA Investing LLC now owns 6,401 shares of the asset manager’s stock worth $743,000 after purchasing an additional 1,020 shares during the period. Corient Private Wealth LLC raised its holdings in State Street by 0.4% in the second quarter. Corient Private Wealth LLC now owns 171,677 shares of the asset manager’s stock worth $18,256,000 after purchasing an additional 747 shares in the last quarter. Valeo Financial Advisors LLC lifted its position in State Street by 15.2% during the second quarter. Valeo Financial Advisors LLC now owns 3,614 shares of the asset manager’s stock valued at $384,000 after buying an additional 476 shares during the period. Finally, Osaic Holdings Inc. lifted its position in State Street by 42.8% during the second quarter. Osaic Holdings Inc. now owns 32,130 shares of the asset manager’s stock valued at $3,414,000 after buying an additional 9,625 shares during the period. Hedge funds and other institutional investors own 87.44% of the company’s stock.

State Street Stock Performance

NYSE:STT opened at $116.35 on Friday. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.57 and a current ratio of 0.57. State Street has a fifty-two week low of $72.81 and a fifty-two week high of $118.06. The firm has a market cap of $33.01 billion, a PE ratio of 13.03, a price-to-earnings-growth ratio of 1.12 and a beta of 1.46. The business has a 50 day moving average price of $112.83 and a 200-day moving average price of $101.38.

State Street (NYSE:STT) last posted its quarterly earnings results on Tuesday, July 15th. The asset manager reported $2.53 EPS for the quarter, beating analysts’ consensus estimates of $2.36 by $0.17. The company had revenue of $3.47 billion during the quarter, compared to analyst estimates of $3.33 billion. State Street had a net margin of 12.59% and a return on equity of 12.96%. The firm’s revenue was up 2.9% compared to the same quarter last year. During the same period in the prior year, the business posted $2.15 EPS. Equities research analysts predict that State Street will post 9.68 earnings per share for the current year.

State Street Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 14th. Stockholders of record on Wednesday, October 1st will be given a $0.84 dividend. The ex-dividend date of this dividend is Wednesday, October 1st. This represents a $3.36 annualized dividend and a dividend yield of 2.9%. This is a positive change from State Street’s previous quarterly dividend of $0.76. State Street’s dividend payout ratio is 37.63%.

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.