State Street Co. (NYSE:STT) Given Average Rating of “Hold” by Analysts

Shares of State Street Co. (NYSE:STT) have earned a consensus recommendation of “Hold” from the eleven research firms that are presently covering the firm, Marketbeat reports. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and five have issued a buy rating on the company. The average 1 year price objective among brokerages that have covered the stock in the last year is $84.04.

STT has been the topic of several analyst reports. Morgan Stanley upped their target price on shares of State Street from $89.00 to $90.00 and gave the stock an “equal weight” rating in a research note on Monday, April 15th. Evercore ISI upped their price objective on State Street from $85.00 to $88.00 and gave the company an “outperform” rating in a research report on Thursday, April 4th. UBS Group lifted their target price on State Street from $80.00 to $82.00 and gave the stock a “neutral” rating in a report on Friday, April 12th. Argus boosted their price target on State Street from $84.00 to $86.00 and gave the stock a “buy” rating in a research note on Monday, April 15th. Finally, Bank of America reaffirmed an “underperform” rating and set a $81.00 price objective on shares of State Street in a research report on Thursday, January 4th.

State Street Stock Performance

Shares of STT stock opened at $73.39 on Friday. The company has a market capitalization of $22.16 billion, a price-to-earnings ratio of 13.74, a price-to-earnings-growth ratio of 1.32 and a beta of 1.52. The company has a debt-to-equity ratio of 0.90, a quick ratio of 0.55 and a current ratio of 0.61. State Street has a one year low of $62.78 and a one year high of $79.90. The company’s 50-day moving average is $74.16 and its 200 day moving average is $72.74.

State Street Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, April 11th. Shareholders of record on Monday, April 1st were issued a $0.69 dividend. This represents a $2.76 dividend on an annualized basis and a yield of 3.76%. The ex-dividend date of this dividend was Thursday, March 28th. State Street’s dividend payout ratio is 51.69%.

Insiders Place Their Bets

In other news, EVP Anthony Bisegna sold 2,606 shares of the company’s stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $73.00, for a total transaction of $190,238.00. Following the completion of the sale, the executive vice president now owns 17,737 shares of the company’s stock, valued at approximately $1,294,801. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, EVP Anthony Bisegna sold 2,606 shares of the business’s stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $73.00, for a total transaction of $190,238.00. Following the completion of the sale, the executive vice president now directly owns 17,737 shares in the company, valued at $1,294,801. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Eric W. Aboaf sold 12,000 shares of the stock in a transaction that occurred on Thursday, February 29th. The stock was sold at an average price of $73.90, for a total transaction of $886,800.00. Following the completion of the transaction, the chief financial officer now owns 149,063 shares in the company, valued at $11,015,755.70. The disclosure for this sale can be found here. Over the last three months, insiders have sold 18,864 shares of company stock valued at $1,390,597. Insiders own 0.31% of the company’s stock.

Hedge Funds Weigh In On State Street

Institutional investors and hedge funds have recently bought and sold shares of the stock. Norges Bank bought a new position in shares of State Street in the fourth quarter worth about $147,421,000. AustralianSuper Pty Ltd increased its holdings in State Street by 327.0% in the 3rd quarter. AustralianSuper Pty Ltd now owns 1,325,417 shares of the asset manager’s stock worth $88,750,000 after acquiring an additional 1,015,022 shares in the last quarter. AEGON ASSET MANAGEMENT UK Plc bought a new stake in State Street during the 4th quarter worth approximately $45,687,000. Balyasny Asset Management L.P. lifted its holdings in State Street by 57.8% during the fourth quarter. Balyasny Asset Management L.P. now owns 1,563,964 shares of the asset manager’s stock valued at $121,145,000 after purchasing an additional 573,016 shares in the last quarter. Finally, Private Management Group Inc. bought a new position in shares of State Street in the third quarter worth approximately $36,022,000. 87.44% of the stock is currently owned by hedge funds and other institutional investors.

About State Street

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.