State Street Corporation (NYSE:STT) Given Average Recommendation of “Moderate Buy” by Analysts

State Street Corporation (NYSE:STT) has received a consensus rating of “Moderate Buy” from the fifteen ratings firms that are presently covering the firm, Marketbeat reports. Five investment analysts have rated the stock with a hold recommendation, nine have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year price objective among brokers that have issued ratings on the stock in the last year is $166.8438.

STT has been the topic of a number of research analyst reports. Zacks Research lowered shares of State Street from a “strong-buy” rating to a “hold” rating in a research note on Monday, June 22nd. Evercore set a $158.00 target price on State Street and gave the stock an “outperform” rating in a research report on Monday, April 20th. Bank of America raised State Street from an “underperform” rating to a “neutral” rating and set a $143.00 price target for the company in a research note on Monday, April 6th. Wells Fargo & Company lifted their price target on State Street from $171.00 to $196.00 and gave the company an “overweight” rating in a research report on Wednesday, June 24th. Finally, Truist Financial upped their price objective on State Street from $150.00 to $176.00 and gave the company a “hold” rating in a report on Friday, June 26th.

Insider Buying and Selling at State Street

In other news, CEO Hanley Ronald P. O sold 14,553 shares of State Street stock in a transaction that occurred on Tuesday, May 26th. The shares were sold at an average price of $155.35, for a total value of $2,260,808.55. Following the transaction, the chief executive officer owned 255,512 shares of the company’s stock, valued at $39,693,789.20. The trade was a 5.39% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Mostapha Tahiri sold 9,611 shares of State Street stock in a transaction that occurred on Wednesday, April 22nd. The stock was sold at an average price of $152.93, for a total transaction of $1,469,810.23. Following the completion of the transaction, the chief operating officer directly owned 64,642 shares in the company, valued at $9,885,701.06. This represents a 12.94% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 37,876 shares of company stock valued at $5,866,583 in the last ninety days. 0.27% of the stock is owned by insiders.

Institutional Trading of State Street

A number of large investors have recently added to or reduced their stakes in the business. Nordea Investment Management AB lifted its holdings in shares of State Street by 15.4% during the fourth quarter. Nordea Investment Management AB now owns 2,829,271 shares of the asset manager’s stock valued at $367,041,000 after purchasing an additional 377,568 shares during the last quarter. Clean Yield Group increased its stake in State Street by 8,247.4% in the 4th quarter. Clean Yield Group now owns 19,199 shares of the asset manager’s stock worth $2,477,000 after purchasing an additional 18,969 shares in the last quarter. Concurrent Investment Advisors LLC purchased a new position in State Street in the 4th quarter worth about $1,959,000. Heritage Family Offices LLP acquired a new stake in State Street during the 4th quarter worth about $1,220,000. Finally, IFM Investors Pty Ltd raised its holdings in State Street by 9.7% during the 1st quarter. IFM Investors Pty Ltd now owns 84,534 shares of the asset manager’s stock worth $10,699,000 after buying an additional 7,469 shares during the period. 87.44% of the stock is currently owned by institutional investors.

State Street Stock Down 0.1%

State Street stock opened at $170.57 on Monday. The stock has a market cap of $47.21 billion, a price-to-earnings ratio of 17.30, a PEG ratio of 0.92 and a beta of 1.42. The company has a current ratio of 0.57, a quick ratio of 0.57 and a debt-to-equity ratio of 1.04. The company’s 50-day moving average price is $159.83 and its two-hundred day moving average price is $140.59. State Street has a 52 week low of $101.98 and a 52 week high of $175.46.

State Street (NYSE:STT) last released its quarterly earnings results on Friday, April 17th. The asset manager reported $2.84 EPS for the quarter, topping analysts’ consensus estimates of $2.64 by $0.20. The company had revenue of $3.80 billion for the quarter, compared to the consensus estimate of $3.59 billion. State Street had a net margin of 13.47% and a return on equity of 14.22%. State Street’s revenue was up 15.6% on a year-over-year basis. During the same period in the previous year, the firm earned $2.04 EPS. On average, analysts expect that State Street will post 12.53 EPS for the current fiscal year.

State Street Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, July 13th. Investors of record on Wednesday, July 1st will be issued a dividend of $0.84 per share. This represents a $3.36 dividend on an annualized basis and a yield of 2.0%. The ex-dividend date of this dividend is Wednesday, July 1st. State Street’s payout ratio is presently 34.08%.

State Street Company Profile

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.