State Street (NYSE:STT) PT Raised to $86.00 at Argus

State Street (NYSE:STT) had its price objective upped by Argus from $84.00 to $86.00 in a report published on Monday, Benzinga reports. They currently have a buy rating on the asset manager’s stock.

Other equities analysts have also recently issued reports about the company. JPMorgan Chase & Co. lifted their price objective on State Street from $79.50 to $80.50 in a report on Friday, April 12th. Evercore ISI boosted their price target on State Street from $85.00 to $88.00 and gave the stock an outperform rating in a report on Thursday, April 4th. Barclays boosted their price target on State Street from $87.00 to $102.00 and gave the stock an overweight rating in a report on Tuesday, January 2nd. Bank of America reissued an underperform rating and set a $81.00 price target on shares of State Street in a report on Thursday, January 4th. Finally, Morgan Stanley boosted their price objective on State Street from $83.00 to $88.00 and gave the stock an equal weight rating in a research report on Tuesday, January 30th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of Hold and a consensus target price of $84.04.

State Street Stock Performance

STT opened at $72.81 on Monday. The business has a fifty day simple moving average of $73.97 and a 200 day simple moving average of $72.37. The company has a market capitalization of $21.98 billion, a PE ratio of 13.63, a price-to-earnings-growth ratio of 1.40 and a beta of 1.52. State Street has a 1 year low of $62.78 and a 1 year high of $79.90. The company has a debt-to-equity ratio of 0.90, a current ratio of 0.61 and a quick ratio of 0.55.

State Street (NYSE:STT) last released its quarterly earnings results on Friday, January 19th. The asset manager reported $2.04 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.83 by $0.21. The business had revenue of $3.04 billion during the quarter, compared to the consensus estimate of $2.95 billion. State Street had a return on equity of 12.03% and a net margin of 9.62%. The firm’s quarterly revenue was down 3.5% on a year-over-year basis. During the same period in the previous year, the company posted $2.07 EPS. Research analysts expect that State Street will post 7.87 EPS for the current year.

State Street Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, April 11th. Shareholders of record on Monday, April 1st were given a $0.69 dividend. The ex-dividend date was Thursday, March 28th. This represents a $2.76 dividend on an annualized basis and a dividend yield of 3.79%. State Street’s dividend payout ratio (DPR) is presently 51.69%.

Insider Buying and Selling at State Street

In related news, CFO Eric W. Aboaf sold 12,000 shares of the company’s stock in a transaction dated Thursday, February 29th. The stock was sold at an average price of $73.90, for a total transaction of $886,800.00. Following the sale, the chief financial officer now owns 149,063 shares in the company, valued at approximately $11,015,755.70. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, EVP Anthony Bisegna sold 4,258 shares of the company’s stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $73.64, for a total transaction of $313,559.12. Following the transaction, the executive vice president now directly owns 23,328 shares of the company’s stock, valued at approximately $1,717,873.92. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CFO Eric W. Aboaf sold 12,000 shares of the firm’s stock in a transaction that occurred on 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 transaction, the chief financial officer now owns 149,063 shares in the company, valued at approximately $11,015,755.70. The disclosure for this sale can be found here. In the last quarter, insiders have sold 18,864 shares of company stock worth $1,390,597. Insiders own 0.25% of the company’s stock.

Institutional Trading of State Street

A number of hedge funds have recently bought and sold shares of STT. Dagco Inc. purchased a new stake in State Street in the fourth quarter worth $26,000. CVA Family Office LLC purchased a new position in shares of State Street in the fourth quarter valued at $27,000. Venturi Wealth Management LLC grew its position in shares of State Street by 92.5% in the fourth quarter. Venturi Wealth Management LLC now owns 383 shares of the asset manager’s stock valued at $30,000 after purchasing an additional 184 shares in the last quarter. Turtle Creek Wealth Advisors LLC purchased a new position in shares of State Street in the fourth quarter valued at $35,000. Finally, Norwood Financial Corp purchased a new position in shares of State Street in the first quarter valued at $35,000. 87.44% of the stock is currently owned by institutional investors.

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.