State Street (NYSE:STT) PT Raised to $90.00 at Morgan Stanley

State Street (NYSE:STT) had its price objective upped by Morgan Stanley from $89.00 to $90.00 in a research report sent to investors on Monday, Benzinga reports. The brokerage currently has an equal weight rating on the asset manager’s stock.

A number of other equities analysts have also recently commented on the stock. Argus lifted their target price on shares of State Street from $84.00 to $86.00 and gave the stock a buy rating in a research report on Monday. Barclays boosted their target price on State Street from $87.00 to $102.00 and gave the company an overweight rating in a research note on Tuesday, January 2nd. JPMorgan Chase & Co. raised their price target on State Street from $79.50 to $80.50 in a research report on Friday, April 12th. Royal Bank of Canada boosted their price objective on State Street from $75.00 to $85.00 and gave the company a sector perform rating in a research report on Monday, January 22nd. Finally, Keefe, Bruyette & Woods cut their target price on shares of State Street from $89.00 to $86.00 and set a market perform rating on the stock in a report on Monday, January 22nd. Two analysts have rated the stock with a sell rating, six have given a hold rating and five have given a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of Hold and a consensus price target of $84.04.

State Street Price Performance

Shares of State Street stock opened at $73.04 on Monday. The firm has a market capitalization of $22.05 billion, a PE ratio of 13.68, a price-to-earnings-growth ratio of 1.30 and a beta of 1.52. 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 has a 12 month low of $62.78 and a 12 month high of $79.90. The business’s 50-day moving average price is $73.99 and its 200-day moving average price is $72.37.

State Street (NYSE:STT) last issued its quarterly earnings results on Friday, January 19th. The asset manager reported $2.04 EPS for the quarter, beating analysts’ consensus estimates of $1.83 by $0.21. The business had revenue of $3.04 billion for the quarter, compared to analysts’ expectations of $2.95 billion. State Street had a net margin of 9.62% and a return on equity of 12.03%. The business’s quarterly revenue was down 3.5% on a year-over-year basis. During the same period last year, the business earned $2.07 earnings per share. Sell-side analysts forecast that State Street will post 7.91 EPS 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 issued a $0.69 dividend. The ex-dividend date was Thursday, March 28th. This represents a $2.76 annualized dividend 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 news, CFO Eric W. Aboaf sold 12,000 shares of the firm’s stock in a transaction that occurred 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 completion of the transaction, the chief financial officer now owns 149,063 shares in the company, valued at approximately $11,015,755.70. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other State Street news, CFO Eric W. Aboaf sold 12,000 shares of the 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 completion of the transaction, the chief financial officer now owns 149,063 shares in the company, valued at $11,015,755.70. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Anthony Bisegna sold 4,258 shares of the business’s stock in a transaction on Friday, March 1st. The shares were sold at an average price of $73.64, for a total transaction of $313,559.12. Following the sale, the executive vice president now owns 23,328 shares in the company, valued at approximately $1,717,873.92. The disclosure for this sale can be found here. In the last three months, insiders have sold 18,864 shares of company stock valued at $1,390,597. 0.31% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On State Street

A number of hedge funds and other institutional investors have recently bought and sold shares of STT. Norges Bank purchased a new stake in shares of State Street in the 4th quarter worth approximately $184,482,000. Morgan Stanley grew its stake in shares of State Street by 31.1% in the fourth quarter. Morgan Stanley now owns 6,031,661 shares of the asset manager’s stock worth $467,876,000 after acquiring an additional 1,430,237 shares during the last quarter. Eaton Vance Management increased its holdings in shares of State Street by 159.8% during the first quarter. Eaton Vance Management now owns 1,750,857 shares of the asset manager’s stock valued at $152,535,000 after acquiring an additional 1,077,013 shares in the last quarter. AustralianSuper Pty Ltd raised its position in shares of 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 purchasing an additional 1,015,022 shares during the last quarter. Finally, AEGON ASSET MANAGEMENT UK Plc bought a new position in State Street in the 4th quarter worth about $45,687,000. Hedge funds and other institutional investors own 87.44% of the company’s stock.

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.