Analysts Set State Street Corporation (NYSE:STT) PT at $140.50

by · The Markets Daily

State Street Corporation (NYSE:STTGet Free Report) has been given an average rating of “Moderate Buy” by the thirteen ratings firms that are currently covering the firm, Marketbeat Ratings reports. Three analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company. The average 1 year price objective among brokers that have issued a report on the stock in the last year is $140.50.

Several research firms recently issued reports on STT. Bank of America raised shares of State Street from an “underperform” rating to a “neutral” rating and set a $143.00 target price on the stock in a research report on Monday, April 6th. Loop Capital set a $144.00 target price on shares of State Street in a research report on Tuesday, January 6th. Wall Street Zen raised shares of State Street from a “sell” rating to a “hold” rating in a research report on Saturday, January 17th. The Goldman Sachs Group reissued a “buy” rating on shares of State Street in a research report on Tuesday, January 6th. Finally, Truist Financial set a $136.00 target price on shares of State Street in a research report on Tuesday, January 20th.

View Our Latest Stock Analysis on STT

State Street Price Performance

STT opened at $145.31 on Wednesday. The company’s 50 day simple moving average is $128.69 and its 200 day simple moving average is $125.05. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.61 and a current ratio of 0.57. State Street has a 1 year low of $79.56 and a 1 year high of $148.99. The stock has a market capitalization of $40.26 billion, a PE ratio of 14.74, a P/E/G ratio of 0.93 and a beta of 1.37.

State Street (NYSE:STTGet Free Report) last released its earnings results on Friday, April 17th. The asset manager reported $2.84 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.64 by $0.20. State Street had a net margin of 13.47% and a return on equity of 14.22%. The business had revenue of $3.80 billion for the quarter, compared to analysts’ expectations of $3.59 billion. During the same period last year, the company earned $2.04 earnings per share. The company’s quarterly revenue was up 15.6% on a year-over-year basis. As a group, sell-side analysts expect that State Street will post 9.68 EPS for the current year.

State Street Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, April 13th. Shareholders of record on Wednesday, April 1st were given a dividend of $0.84 per share. This represents a $3.36 dividend on an annualized basis and a yield of 2.3%. The ex-dividend date of this dividend was Wednesday, April 1st. State Street’s payout ratio is 35.71%.

State Street News Summary

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

Insiders Place Their Bets

In other State Street news, EVP John Plansky sold 16,100 shares of State Street stock in a transaction that occurred on Wednesday, March 11th. The shares were sold at an average price of $124.32, for a total transaction of $2,001,552.00. Following the transaction, the executive vice president directly owned 56,162 shares of the company’s stock, valued at $6,982,059.84. The trade was a 22.28% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. 0.29% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Chicago Partners Investment Group LLC lifted its position in State Street by 1.6% during the fourth quarter. Chicago Partners Investment Group LLC now owns 5,351 shares of the asset manager’s stock valued at $675,000 after buying an additional 83 shares in the last quarter. Wedmont Private Capital lifted its position in State Street by 1.3% during the fourth quarter. Wedmont Private Capital now owns 6,498 shares of the asset manager’s stock valued at $861,000 after buying an additional 85 shares in the last quarter. Annis Gardner Whiting Capital Advisors LLC lifted its position in State Street by 38.2% during the third quarter. Annis Gardner Whiting Capital Advisors LLC now owns 340 shares of the asset manager’s stock valued at $39,000 after buying an additional 94 shares in the last quarter. Arjuna Capital lifted its position in State Street by 0.4% during the fourth quarter. Arjuna Capital now owns 25,139 shares of the asset manager’s stock valued at $3,243,000 after buying an additional 95 shares in the last quarter. Finally, LVW Advisors LLC lifted its position in State Street by 1.7% during the fourth quarter. LVW Advisors LLC now owns 5,605 shares of the asset manager’s stock valued at $723,000 after buying an additional 96 shares in the last quarter. 87.44% of the stock is owned by institutional investors and hedge funds.

State Street Company Profile

(Get Free Report)

State Street Corporation is a global financial services company that provides a range of investment servicing, investment management and investment research and trading services to institutional investors. Its principal activities include custody and fund administration, securities lending, performance and risk analytics, trading and execution services, and foreign exchange. The company also offers investment management through State Street Global Advisors, a major provider of exchange-traded funds and institutional investment strategies.

State Street serves a broad client base of asset managers, insurance companies, pension funds, endowments, and other institutions across North America, Europe, Asia and other global markets.

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