State Street (NYSE:STT) Price Target Raised to $127.00

State Street (NYSE:STT) had its price objective hoisted by Barclays from $108.00 to $127.00 in a report issued on Monday morning,Benzinga reports. They currently have an overweight rating on the asset manager’s stock.

Other equities analysts have also recently issued reports about the company. Deutsche Bank Aktiengesellschaft increased their price target on State Street from $90.00 to $95.00 and gave the stock a “hold” rating in a report on Monday, November 11th. StockNews.com lowered shares of State Street from a “buy” rating to a “hold” rating in a research note on Friday, December 27th. JPMorgan Chase & Co. raised shares of State Street from an “underweight” rating to a “neutral” rating and set a $95.00 price target on the stock in a research note on Friday, December 20th. The Goldman Sachs Group upped their price objective on shares of State Street from $98.00 to $100.00 and gave the stock a “buy” rating in a report on Thursday, September 26th. Finally, Keefe, Bruyette & Woods upgraded shares of State Street from a “market perform” rating to an “outperform” rating and lifted their target price for the company from $105.00 to $120.00 in a report on Tuesday, December 3rd. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $100.33.

State Street Price Performance

Shares of STT stock opened at $97.68 on Monday. The company has a debt-to-equity ratio of 0.91, a current ratio of 0.56 and a quick ratio of 0.56. The firm’s 50-day moving average is $97.29 and its two-hundred day moving average is $88.47. State Street has a 12 month low of $70.20 and a 12 month high of $101.91. The company has a market capitalization of $28.63 billion, a PE ratio of 15.43, a price-to-earnings-growth ratio of 1.24 and a beta of 1.43.

State Street (NYSE:STT) last released its quarterly earnings results on Tuesday, October 15th. The asset manager reported $2.26 EPS for the quarter, beating the consensus estimate of $2.12 by $0.14. The firm had revenue of $3.26 billion for the quarter, compared to analyst estimates of $3.19 billion. State Street had a net margin of 9.87% and a return on equity of 12.02%. The business’s revenue for the quarter was up 21.1% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.93 EPS. Analysts predict that State Street will post 8.42 earnings per share for the current year.

State Street Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, January 13th. Shareholders of record on Thursday, January 2nd will be given a $0.76 dividend. This represents a $3.04 dividend on an annualized basis and a yield of 3.11%. The ex-dividend date is Thursday, January 2nd. State Street’s dividend payout ratio is currently 48.03%.

Insider Transactions at State Street

In other news, EVP Kathryn M. Horgan sold 12,500 shares of State Street stock in a transaction on Monday, November 25th. The shares were sold at an average price of $97.97, for a total transaction of $1,224,625.00. Following the completion of the sale, the executive vice president now directly owns 111,042 shares of the company’s stock, valued at approximately $10,878,784.74. The trade was a 10.12 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP John Plansky sold 13,859 shares of the stock in a transaction on Friday, October 18th. The shares were sold at an average price of $91.32, for a total value of $1,265,603.88. Following the completion of the transaction, the executive vice president now directly owns 55,108 shares in the company, valued at $5,032,462.56. This trade represents a 20.10 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 26,460 shares of company stock valued at $2,499,860. 0.31% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On State Street

Institutional investors have recently added to or reduced their stakes in the business. InvesTrust acquired a new stake in State Street during the fourth quarter worth approximately $742,000. Neville Rodie & Shaw Inc. grew its position in shares of State Street by 337.3% in the 4th quarter. Neville Rodie & Shaw Inc. now owns 18,150 shares of the asset manager’s stock valued at $1,782,000 after buying an additional 14,000 shares during the last quarter. Nordea Investment Management AB raised its stake in State Street by 21.2% during the 4th quarter. Nordea Investment Management AB now owns 2,180,504 shares of the asset manager’s stock worth $214,998,000 after acquiring an additional 381,260 shares in the last quarter. GAMMA Investing LLC raised its stake in State Street by 28.4% during the 4th quarter. GAMMA Investing LLC now owns 3,202 shares of the asset manager’s stock worth $314,000 after acquiring an additional 709 shares in the last quarter. Finally, Versant Capital Management Inc lifted its position in State Street by 37.0% in the fourth quarter. Versant Capital Management Inc now owns 730 shares of the asset manager’s stock valued at $72,000 after acquiring an additional 197 shares during the last quarter. Hedge funds and other institutional investors own 87.44% of the company’s stock.

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.