Brokerages Set State Street Corporation (NYSE:STT) Price Target at $184.72

State Street Corporation (NYSE:STTGet Free Report) has been given a consensus rating of “Moderate Buy” by the sixteen brokerages that are presently covering the firm, Marketbeat reports. Five research analysts have rated the stock with a hold rating, nine have issued a buy rating and two have assigned a strong buy rating to the company. The average twelve-month price objective among brokerages that have issued ratings on the stock in the last year is $184.7188.

Several equities analysts recently weighed in on STT shares. UBS Group set a $176.00 price objective on shares of State Street in a report on Friday, June 26th. The Goldman Sachs Group boosted their target price on shares of State Street from $168.00 to $194.00 and gave the company a “buy” rating in a research note on Tuesday, June 30th. JPMorgan Chase & Co. increased their target price on shares of State Street from $158.50 to $176.50 and gave the company a “neutral” rating in a research report on Monday, July 6th. Bank of America increased their target price on shares of State Street from $160.00 to $190.00 and gave the company a “neutral” rating in a research report on Tuesday, July 7th. Finally, Zacks Research upgraded shares of State Street from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, July 21st.

Check Out Our Latest Stock Report on State Street

Insiders Place Their Bets

In other State Street news, CEO Hanley Ronald P. O sold 14,553 shares of the firm’s stock in a transaction on Tuesday, May 26th. The stock was sold at an average price of $155.35, for a total value of $2,260,808.55. Following the completion of the sale, the chief executive officer directly owned 255,512 shares of the company’s stock, valued at $39,693,789.20. This trade represents a 5.39% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP W. Bradford Hu sold 9,212 shares of the business’s stock in a transaction on Tuesday, May 26th. The shares were sold at an average price of $155.35, for a total value of $1,431,084.20. Following the completion of the sale, the executive vice president owned 59,552 shares in the company, valued at approximately $9,251,403.20. The trade was a 13.40% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 25,265 shares of company stock valued at $3,935,103 over the last ninety days. 0.27% of the stock is currently owned by insiders.

Institutional Investors Weigh In On State Street

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in STT. Regents of The University of California boosted its position in State Street by 15.6% during the first quarter. Regents of The University of California now owns 10,065,118 shares of the asset manager’s stock worth $1,273,841,000 after purchasing an additional 1,358,923 shares during the period. Morgan Stanley raised its position in shares of State Street by 9.0% in the fourth quarter. Morgan Stanley now owns 5,222,382 shares of the asset manager’s stock valued at $673,740,000 after purchasing an additional 433,201 shares during the period. Victory Capital Management Inc. raised its position in shares of State Street by 30.8% in the fourth quarter. Victory Capital Management Inc. now owns 4,559,546 shares of the asset manager’s stock valued at $588,227,000 after purchasing an additional 1,074,174 shares during the period. Franklin Resources Inc. lifted its stake in shares of State Street by 1.7% during the 4th quarter. Franklin Resources Inc. now owns 3,926,321 shares of the asset manager’s stock valued at $506,534,000 after buying an additional 67,309 shares in the last quarter. Finally, First Trust Advisors LP lifted its stake in shares of State Street by 30.4% during the 4th quarter. First Trust Advisors LP now owns 3,582,977 shares of the asset manager’s stock valued at $462,240,000 after buying an additional 835,331 shares in the last quarter. 87.44% of the stock is currently owned by institutional investors.

State Street Stock Down 0.1%

STT stock opened at $185.25 on Friday. The stock has a market cap of $51.27 billion, a P/E ratio of 16.34, a P/E/G ratio of 0.77 and a beta of 1.42. The company has a current ratio of 0.59, a quick ratio of 0.57 and a debt-to-equity ratio of 1.04. The stock’s fifty day simple moving average is $169.06 and its two-hundred day simple moving average is $146.08. State Street has a 1-year low of $104.64 and a 1-year high of $192.51.

State Street (NYSE:STTGet Free Report) last announced its earnings results on Thursday, July 16th. The asset manager reported $3.65 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.34 by $0.31. The firm had revenue of $4.05 billion during the quarter, compared to analyst estimates of $3.88 billion. State Street had a return on equity of 15.26% and a net margin of 15.02%.The business’s revenue was up 23.3% compared to the same quarter last year. During the same period last year, the firm posted $2.04 EPS. Analysts expect that State Street will post 13.68 EPS for the current year.

State Street Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 13th. Shareholders of record on Thursday, October 1st will be issued a dividend of $0.92 per share. This represents a $3.68 annualized dividend and a yield of 2.0%. This is a positive change from State Street’s previous quarterly dividend of $0.84. The ex-dividend date of this dividend is Thursday, October 1st. State Street’s dividend payout ratio is currently 29.63%.

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About State Street

(Get Free Report)

State Street Corporation is a global financial services company that provides a range of investment servicing, investment management and investment research and trading services to institutional investors. Its principal activities include custody and fund administration, securities lending, performance and risk analytics, trading and execution services, and foreign exchange. The company also offers investment management through State Street Global Advisors, a major provider of exchange-traded funds and institutional investment strategies.

State Street serves a broad client base of asset managers, insurance companies, pension funds, endowments, and other institutions across North America, Europe, Asia and other global markets.

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Analyst Recommendations for State Street (NYSE:STT)

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