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

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

Several other research firms have also issued reports on STT. JPMorgan Chase & Co. boosted their price target on State Street from $79.50 to $80.50 in a report on Friday, April 12th. Morgan Stanley boosted their price target on State Street from $83.00 to $88.00 and gave the company an equal weight rating in a report on Tuesday, January 30th. Bank of America reaffirmed an underperform rating and issued a $81.00 price objective on shares of State Street in a research note on Thursday, January 4th. Barclays upped their price objective on State Street from $87.00 to $102.00 and gave the stock an overweight rating in a research note on Tuesday, January 2nd. Finally, The Goldman Sachs Group raised State Street from a neutral rating to a buy rating and upped their price objective for the stock from $69.00 to $92.00 in a research note on Wednesday, January 3rd. Two research analysts have rated the stock with a sell rating, six have given a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of Hold and an average price target of $84.04.

State Street Stock Up 0.3 %

Shares of NYSE:STT opened at $73.04 on Monday. The stock has a fifty day simple moving average of $73.99 and a two-hundred day simple moving average of $72.37. The stock has a market capitalization of $22.05 billion, a price-to-earnings ratio of 13.68, a PEG ratio of 1.30 and a beta of 1.52. State Street has a 12-month low of $62.78 and a 12-month high of $79.90. The company has a current ratio of 0.61, a quick ratio of 0.55 and a debt-to-equity ratio of 0.90.

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. State Street had a return on equity of 12.03% and a net margin of 9.62%. The business had revenue of $3.04 billion during the quarter, compared to analyst estimates of $2.95 billion. During the same quarter in the previous year, the company posted $2.07 earnings per share. State Street’s revenue for the quarter was down 3.5% on a year-over-year basis. On average, research analysts anticipate that State Street will post 7.91 earnings per share for the current fiscal year.

State Street Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, April 11th. Shareholders of record on Monday, April 1st were given a dividend of $0.69 per share. The ex-dividend date was Thursday, March 28th. This represents a $2.76 dividend on an annualized basis and a yield of 3.78%. State Street’s dividend payout ratio (DPR) is presently 51.69%.

Insider Buying and Selling at State Street

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

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Symmetry Partners LLC lifted its position in State Street by 3.5% during the 1st quarter. Symmetry Partners LLC now owns 3,802 shares of the asset manager’s stock worth $294,000 after acquiring an additional 130 shares during the period. IFP Advisors Inc lifted its position in State Street by 24.9% during the 2nd quarter. IFP Advisors Inc now owns 733 shares of the asset manager’s stock worth $54,000 after acquiring an additional 146 shares during the period. First Manhattan Co. lifted its position in State Street by 7.5% during the 4th quarter. First Manhattan Co. now owns 2,119 shares of the asset manager’s stock worth $164,000 after acquiring an additional 148 shares during the period. Apollon Wealth Management LLC lifted its position in State Street by 1.8% during the 4th quarter. Apollon Wealth Management LLC now owns 8,337 shares of the asset manager’s stock worth $647,000 after acquiring an additional 149 shares during the period. Finally, Tompkins Financial Corp lifted its position in State Street by 28.3% during the 1st quarter. Tompkins Financial Corp now owns 680 shares of the asset manager’s stock worth $53,000 after acquiring an additional 150 shares during the period. 87.44% of the stock is currently owned by hedge funds and other 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.