Research Analysts’ Weekly Ratings Updates for State Street (STT)

Posted by Logan Wallace on Apr 26th, 2024

Several brokerages have updated their recommendations and price targets on shares of State Street (NYSE: STT) in the last few weeks:

4/15/2024 – State Street had its price target raised by analysts at Morgan Stanley from $89.00 to $90.00. They now have an “equal weight” rating on the stock.
4/15/2024 – State Street had its price target raised by analysts at Argus from $84.00 to $86.00. They now have a “buy” rating on the stock.
4/12/2024 – State Street had its price target raised by analysts at UBS Group AG from $80.00 to $82.00. They now have a “neutral” rating on the stock.
4/12/2024 – State Street had its price target raised by analysts at JPMorgan Chase & Co. from $79.50 to $80.50.
4/4/2024 – State Street had its price target raised by analysts at Evercore ISI from $85.00 to $88.00. They now have an “outperform” rating on the stock.

State Street Stock Up 0.4 %

NYSE STT traded up $0.30 on Friday, hitting $73.59. 1,148,929 shares of the stock were exchanged, compared to its average volume of 2,393,496. State Street Co. has a fifty-two week low of $62.78 and a fifty-two week high of $79.90. The company has a 50-day moving average price of $74.14 and a 200-day moving average price of $72.68. The company has a market cap of $22.22 billion, a PE ratio of 13.78, a PEG ratio of 1.32 and a beta of 1.52. The company has a quick ratio of 0.55, a current ratio of 0.61 and a debt-to-equity ratio of 0.90.

State Street Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, April 11th. Shareholders of record on Monday, April 1st were paid a $0.69 dividend. This represents a $2.76 dividend on an annualized basis and a yield of 3.75%. The ex-dividend date was Thursday, March 28th. State Street’s dividend payout ratio is presently 51.69%.

Insiders Place Their Bets

In other State Street news, EVP Anthony Bisegna sold 2,606 shares of the stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $73.00, for a total value of $190,238.00. Following the transaction, the executive vice president now directly owns 17,737 shares in the company, valued at $1,294,801. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 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 shares were sold at an average price of $73.90, for a total transaction of $886,800.00. Following the transaction, the chief financial officer now directly owns 149,063 shares in the company, valued at $11,015,755.70. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Anthony Bisegna sold 2,606 shares of the stock in a transaction on Friday, February 16th. The stock was sold at an average price of $73.00, for a total transaction of $190,238.00. Following the sale, the executive vice president now owns 17,737 shares of the company’s stock, valued at approximately $1,294,801. The disclosure for this sale can be found here. Insiders sold 18,864 shares of company stock valued at $1,390,597 in the last ninety days. Insiders own 0.31% of the company’s stock.

Hedge Funds Weigh In On State Street

Hedge funds and other institutional investors have recently made changes to their positions in the stock. CVA Family Office LLC acquired a new stake in shares of State Street in the 4th quarter worth $27,000. Venturi Wealth Management LLC raised its stake in shares of State Street by 92.5% during the 4th quarter. Venturi Wealth Management LLC now owns 383 shares of the asset manager’s stock worth $30,000 after buying an additional 184 shares in the last quarter. Turtle Creek Wealth Advisors LLC purchased a new stake in shares of State Street in the fourth quarter valued at approximately $35,000. Norwood Financial Corp acquired a new position in State Street during the first quarter worth $35,000. Finally, Accent Capital Management LLC acquired a new stake in State Street in the fourth quarter valued at $39,000. Hedge funds and other institutional investors own 87.44% of the company’s stock.

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.