State Street (NYSE:STT) Price Target Raised to $82.00 at UBS Group

State Street (NYSE:STTFree Report) had its target price boosted by UBS Group from $80.00 to $82.00 in a research report report published on Friday morning, Marketbeat Ratings reports. They currently have a neutral rating on the asset manager’s stock.

Several other research firms have also recently commented on STT. Keefe, Bruyette & Woods cut their target price on shares of State Street from $89.00 to $86.00 and set a market perform rating for the company in a research note on Monday, January 22nd. Evercore ISI boosted their price target on shares of State Street from $85.00 to $88.00 and gave the company an outperform rating in a report on Thursday, April 4th. Barclays increased their target price on State Street from $87.00 to $102.00 and gave the stock an overweight rating in a report on Tuesday, January 2nd. Royal Bank of Canada lifted their price target on shares of State Street from $75.00 to $85.00 and gave the company a sector perform rating in a report on Monday, January 22nd. Finally, Morgan Stanley boosted their price objective on State Street from $83.00 to $88.00 and gave the stock an equal weight rating in a research note on Tuesday, January 30th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of Hold and an average price target of $83.71.

Read Our Latest Research Report on State Street

State Street Trading Up 2.5 %

State Street stock opened at $75.78 on Friday. State Street has a 52 week low of $62.78 and a 52 week high of $81.37. The company has a debt-to-equity ratio of 0.86, a quick ratio of 0.55 and a current ratio of 0.55. The firm has a market capitalization of $22.88 billion, a PE ratio of 13.80, a PEG ratio of 1.37 and a beta of 1.52. The business’s 50-day simple moving average is $73.92 and its 200-day simple moving average is $72.19.

State Street (NYSE:STTGet Free Report) last issued its quarterly earnings results on Friday, April 12th. The asset manager reported $1.69 EPS for the quarter, topping the consensus estimate of $1.48 by $0.21. State Street had a return on equity of 11.86% and a net margin of 10.59%. The company had revenue of $3.14 billion for the quarter, compared to the consensus estimate of $3.06 billion. Equities research analysts forecast that State Street will post 7.87 earnings per share for the current year.

State Street Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, April 11th. Stockholders of record on Monday, April 1st were issued a dividend of $0.69 per share. This represents a $2.76 annualized dividend and a dividend yield of 3.64%. The ex-dividend date of this dividend was Thursday, March 28th. State Street’s dividend payout ratio (DPR) is currently 50.27%.

Insider Buying and Selling at State Street

In other State Street news, CFO Eric W. Aboaf sold 12,000 shares of the company’s stock in a transaction dated 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 of the company’s stock, valued at approximately $11,015,755.70. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, CFO Eric W. Aboaf sold 12,000 shares of State Street stock in a transaction dated 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 directly owns 149,063 shares of the company’s stock, valued at approximately $11,015,755.70. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Anthony Bisegna sold 2,606 shares of the stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $73.00, for a total transaction of $190,238.00. Following the transaction, the executive vice president now directly owns 17,737 shares in the company, valued at approximately $1,294,801. The disclosure for this sale can be found here. Insiders sold a total of 18,864 shares of company stock worth $1,390,597 over the last three months. Corporate insiders own 0.25% of the company’s stock.

Institutional Trading of State Street

Hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. increased its holdings in State Street by 0.4% during the first quarter. Vanguard Group Inc. now owns 34,410,077 shares of the asset manager’s stock worth $2,997,806,000 after buying an additional 146,048 shares during the last quarter. Invesco Ltd. increased its stake in shares of State Street by 0.3% during the 3rd quarter. Invesco Ltd. now owns 10,434,030 shares of the asset manager’s stock worth $698,663,000 after purchasing an additional 29,190 shares during the last quarter. Morgan Stanley raised its holdings in shares of State Street by 31.1% in the 4th quarter. Morgan Stanley now owns 6,031,661 shares of the asset manager’s stock worth $467,876,000 after purchasing an additional 1,430,237 shares during the period. JPMorgan Chase & Co. lifted its stake in State Street by 10.5% in the first quarter. JPMorgan Chase & Co. now owns 4,935,279 shares of the asset manager’s stock valued at $373,551,000 after purchasing an additional 469,309 shares during the last quarter. Finally, Northern Trust Corp grew its holdings in State Street by 4.1% during the third quarter. Northern Trust Corp now owns 4,624,813 shares of the asset manager’s stock valued at $309,677,000 after purchasing an additional 180,093 shares during the period. 87.44% of the stock is currently owned by institutional investors.

About State Street

(Get Free Report)

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.

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