State Street Corporation (NYSE:STT) Given Consensus Rating of “Moderate Buy” by Brokerages

State Street Corporation (NYSE:STT) has been given an average recommendation of “Moderate Buy” by the thirteen analysts that are covering the firm, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, two have issued a hold recommendation, nine have given a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month price objective among brokerages that have issued a report on the stock in the last year is $135.8333.

STT has been the topic of a number of research reports. Wall Street Zen upgraded State Street from a “sell” rating to a “hold” rating in a report on Saturday, January 17th. Keefe, Bruyette & Woods upped their price target on State Street from $132.00 to $135.00 and gave the stock an “outperform” rating in a research report on Monday, October 20th. Truist Financial set a $136.00 price objective on shares of State Street in a report on Tuesday, January 20th. Wells Fargo & Company increased their target price on shares of State Street from $121.00 to $129.00 and gave the stock an “overweight” rating in a report on Monday, October 20th. Finally, Morgan Stanley lowered their price target on shares of State Street from $168.00 to $164.00 and set an “overweight” rating on the stock in a research note on Tuesday, January 20th.

Institutional Investors Weigh In On State Street

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. True Wealth Design LLC grew its stake in shares of State Street by 166.3% in the third quarter. True Wealth Design LLC now owns 253 shares of the asset manager’s stock valued at $29,000 after buying an additional 158 shares in the last quarter. JPL Wealth Management LLC acquired a new stake in State Street in the third quarter valued at $29,000. Flagship Wealth Advisors LLC acquired a new stake in State Street in the third quarter valued at $35,000. Measured Wealth Private Client Group LLC bought a new position in shares of State Street in the 3rd quarter valued at about $35,000. Finally, SJS Investment Consulting Inc. raised its holdings in shares of State Street by 2,142.9% in the 3rd quarter. SJS Investment Consulting Inc. now owns 314 shares of the asset manager’s stock valued at $36,000 after purchasing an additional 300 shares during the period. Institutional investors own 87.44% of the company’s stock.

State Street Stock Performance

Shares of STT stock opened at $128.72 on Friday. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.59 and a current ratio of 0.61. State Street has a 52 week low of $72.81 and a 52 week high of $137.05. The company’s 50 day moving average price is $128.74 and its two-hundred day moving average price is $119.11. The company has a market capitalization of $35.95 billion, a P/E ratio of 13.68, a price-to-earnings-growth ratio of 1.16 and a beta of 1.43.

State Street (NYSE:STT) last issued its quarterly earnings data on Friday, January 16th. The asset manager reported $2.97 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.82 by $0.15. The company had revenue of $3.67 billion during the quarter, compared to the consensus estimate of $3.57 billion. State Street had a net margin of 13.02% and a return on equity of 13.46%. The firm’s revenue was up 7.5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.60 earnings per share. On average, analysts expect that State Street will post 9.68 earnings per share for the current fiscal year.

State Street Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, January 12th. Investors of record on Friday, January 2nd were given a $0.84 dividend. The ex-dividend date of this dividend was Friday, January 2nd. This represents a $3.36 dividend on an annualized basis and a dividend yield of 2.6%. State Street’s payout ratio is currently 35.71%.

About State Street

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.