State Street (NYSE:STT) Upgraded at Wolfe Research

Wolfe Research upgraded shares of State Street (NYSE:STT) from an underperform rating to a peer perform rating in a research note published on Monday, MarketBeat Ratings reports.

Other research analysts have also issued research reports about the company. Wells Fargo & Company raised their price objective on State Street from $108.00 to $118.00 and gave the company an “overweight” rating in a report on Thursday, January 2nd. Keefe, Bruyette & Woods raised shares of State Street from a “market perform” rating to an “outperform” rating and raised their price target for the stock from $105.00 to $120.00 in a research note on Tuesday, December 3rd. Barclays upped their price objective on shares of State Street from $108.00 to $127.00 and gave the company an “overweight” rating in a research note on Monday, January 6th. StockNews.com raised shares of State Street from a “hold” rating to a “buy” rating in a research note on Saturday, January 25th. Finally, Morgan Stanley dropped their price target on State Street from $139.00 to $132.00 and set an “overweight” rating for the company in a research report on Friday, January 3rd. One research analyst has rated the stock with a sell rating, seven have given a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, State Street has a consensus rating of “Hold” and an average price target of $100.73.

State Street Stock Up 0.5 %

STT stock opened at $100.90 on Monday. The stock has a market capitalization of $29.58 billion, a P/E ratio of 12.25, a P/E/G ratio of 1.11 and a beta of 1.43. State Street has a 52 week low of $70.20 and a 52 week high of $102.63. The firm has a 50-day simple moving average of $98.20 and a 200-day simple moving average of $90.90. The company has a quick ratio of 0.56, a current ratio of 0.56 and a debt-to-equity ratio of 1.03.

State Street (NYSE:STT) last posted its quarterly earnings data on Friday, January 17th. The asset manager reported $2.60 EPS for the quarter, topping the consensus estimate of $2.29 by $0.31. The company had revenue of $3.41 billion during the quarter, compared to analyst estimates of $3.27 billion. State Street had a return on equity of 12.60% and a net margin of 12.14%. State Street’s quarterly revenue was up 12.1% on a year-over-year basis. During the same period in the previous year, the business earned $2.04 EPS. Equities analysts forecast that State Street will post 9.43 earnings per share for the current fiscal year.

State Street Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, January 13th. Investors of record on Thursday, January 2nd were given a dividend of $0.76 per share. This represents a $3.04 dividend on an annualized basis and a dividend yield of 3.01%. The ex-dividend date was Thursday, January 2nd. State Street’s payout ratio is 36.89%.

Insider Activity at State Street

In other State Street news, EVP Kathryn M. Horgan sold 12,500 shares of the business’s stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $97.97, for a total value of $1,224,625.00. Following the sale, the executive vice president now owns 111,042 shares of the company’s stock, valued at $10,878,784.74. The trade was a 10.12 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.31% of the stock is owned by insiders.

Institutional Investors Weigh In On State Street

A number of institutional investors have recently modified their holdings of the company. Albion Financial Group UT acquired a new position in State Street during the 4th quarter worth about $25,000. Y.D. More Investments Ltd increased its stake in State Street by 116.6% during the fourth quarter. Y.D. More Investments Ltd now owns 366 shares of the asset manager’s stock worth $36,000 after purchasing an additional 197 shares during the period. Coastline Trust Co acquired a new stake in shares of State Street during the third quarter worth about $44,000. Friedenthal Financial purchased a new position in shares of State Street in the fourth quarter valued at approximately $49,000. Finally, Hager Investment Management Services LLC acquired a new position in shares of State Street in the fourth quarter valued at approximately $56,000. 87.44% of the stock is owned by institutional investors and hedge funds.

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.