State Street Corp (NYSE:STT) has been given a consensus recommendation of “Hold” by the eighteen analysts that are presently covering the company, MarketBeat reports. One analyst has rated the stock with a sell rating, ten have issued a hold rating, five have given a buy rating and two have given a strong buy rating to the company. The average twelve-month price target among brokers that have issued ratings on the stock in the last year is $99.40.
A number of equities research analysts have weighed in on the company. Zacks Investment Research lowered State Street from a “buy” rating to a “hold” rating and set a $109.00 price objective on the stock. in a report on Friday. ValuEngine lowered State Street from a “buy” rating to a “hold” rating in a report on Friday, November 10th. Jefferies Group reaffirmed a “hold” rating and issued a $100.00 price objective on shares of State Street in a report on Friday, September 15th. Citigroup reaffirmed a “neutral” rating and issued a $102.00 price objective (up previously from $88.00) on shares of State Street in a report on Monday, October 9th. Finally, Barclays lifted their price objective on State Street from $104.00 to $120.00 and gave the company an “overweight” rating in a report on Tuesday.
In other news, insider Hannah M. Grove sold 3,200 shares of State Street stock in a transaction that occurred on Thursday, November 2nd. The shares were sold at an average price of $92.64, for a total transaction of $296,448.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Chairman Joseph L. Hooley sold 25,000 shares of State Street stock in a transaction that occurred on Wednesday, November 1st. The shares were sold at an average price of $92.60, for a total transaction of $2,315,000.00. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 28,724 shares of company stock valued at $2,659,741. Insiders own 0.71% of the company’s stock.
Institutional investors have recently modified their holdings of the stock. Zions Bancorporation raised its position in shares of State Street by 318.0% during the 3rd quarter. Zions Bancorporation now owns 1,045 shares of the asset manager’s stock worth $100,000 after purchasing an additional 795 shares during the last quarter. Bronfman E.L. Rothschild L.P. raised its position in shares of State Street by 15.3% during the 2nd quarter. Bronfman E.L. Rothschild L.P. now owns 1,266 shares of the asset manager’s stock worth $114,000 after purchasing an additional 168 shares during the last quarter. Eagle Asset Management Inc. acquired a new position in shares of State Street during the 2nd quarter worth approximately $200,000. Sabal Trust CO acquired a new position in shares of State Street during the 3rd quarter worth approximately $201,000. Finally, Trustmark National Bank Trust Department acquired a new position in shares of State Street during the 3rd quarter worth approximately $204,000. Hedge funds and other institutional investors own 88.12% of the company’s stock.
Shares of State Street (NYSE STT) traded up $0.09 on Tuesday, reaching $98.57. The company’s stock had a trading volume of 1,134,927 shares, compared to its average volume of 1,283,325. State Street has a 12 month low of $74.45 and a 12 month high of $100.90. The stock has a market cap of $36,260.00, a price-to-earnings ratio of 17.05, a PEG ratio of 1.48 and a beta of 1.35. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.48 and a quick ratio of 0.48.
State Street (NYSE:STT) last announced its quarterly earnings data on Monday, October 23rd. The asset manager reported $1.71 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.61 by $0.10. State Street had a return on equity of 13.03% and a net margin of 20.56%. The company had revenue of $2.97 billion for the quarter, compared to analyst estimates of $2.94 billion. During the same quarter in the previous year, the company earned $1.35 EPS. The firm’s revenue for the quarter was up 7.7% compared to the same quarter last year. equities analysts predict that State Street will post 6.25 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 17th. Stockholders of record on Tuesday, January 2nd will be given a dividend of $0.42 per share. The ex-dividend date of this dividend is Friday, December 29th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 1.70%. State Street’s payout ratio is 29.07%.
State Street Company Profile
State Street Corporation is a financial holding company. The Company operates through two lines of business: Investment Servicing and Investment Management. The Company, through its subsidiary, State Street Bank and Trust Company (State Street Bank), provides a range of financial products and services to institutional investors across the world.
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