State Street Corporation (NYSE:STT) Given Consensus Rating of “Moderate Buy” by Brokerages

Shares of State Street Corporation (NYSE:STT) have earned a consensus recommendation of “Moderate Buy” from the thirteen analysts that are covering the company, MarketBeat.com reports. One equities research analyst has rated the stock with a sell recommendation, two have given a hold recommendation, nine have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year price objective among brokerages that have covered the stock in the last year is $135.8333.

Several equities research analysts have commented on the stock. TD Cowen restated a “buy” rating on shares of State Street in a research note on Wednesday, January 7th. Weiss Ratings restated a “buy (b)” rating on shares of State Street in a research report on Wednesday, January 21st. Wall Street Zen raised State Street from a “sell” rating to a “hold” rating in a research note on Saturday, January 17th. Truist Financial set a $136.00 price objective on shares of State Street in a report on Tuesday, January 20th. Finally, Morgan Stanley lowered their target price on shares of State Street from $168.00 to $164.00 and set an “overweight” rating on the stock in a research note on Tuesday, January 20th.

Hedge Funds Weigh In On State Street

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Brighton Jones LLC acquired a new stake in shares of State Street in the fourth quarter valued at $296,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in State Street by 2.9% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 32,223 shares of the asset manager’s stock worth $2,885,000 after acquiring an additional 918 shares in the last quarter. NewEdge Advisors LLC lifted its holdings in State Street by 105.2% in the 1st quarter. NewEdge Advisors LLC now owns 10,193 shares of the asset manager’s stock valued at $913,000 after acquiring an additional 5,226 shares during the last quarter. Empowered Funds LLC boosted its position in shares of State Street by 220.1% during the 1st quarter. Empowered Funds LLC now owns 23,263 shares of the asset manager’s stock valued at $2,065,000 after purchasing an additional 15,996 shares in the last quarter. Finally, Woodline Partners LP boosted its position in shares of State Street by 38.4% during the 1st quarter. Woodline Partners LP now owns 24,372 shares of the asset manager’s stock valued at $2,182,000 after purchasing an additional 6,767 shares in the last quarter. 87.44% of the stock is owned by institutional investors.

State Street Stock Performance

Shares of STT opened at $129.50 on Tuesday. State Street has a 1 year low of $72.81 and a 1 year high of $137.05. The company has a market cap of $36.10 billion, a price-to-earnings ratio of 13.76, a price-to-earnings-growth ratio of 1.13 and a beta of 1.43. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.61 and a current ratio of 0.61. The firm has a fifty day moving average of $130.17 and a 200-day moving average of $121.43.

State Street (NYSE:STT) last released its quarterly earnings data on Friday, January 16th. The asset manager reported $2.97 earnings per share for the quarter, topping analysts’ consensus estimates of $2.82 by $0.15. The business had revenue of $3.67 billion for the quarter, compared to analysts’ expectations of $3.57 billion. State Street had a net margin of 13.02% and a return on equity of 13.46%. The company’s revenue for the quarter was up 7.5% compared to the same quarter last year. During the same quarter last year, the company earned $2.60 EPS. As a group, equities analysts anticipate that State Street will post 9.68 earnings per share for the current year.

State Street Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, April 13th. Investors of record on Wednesday, April 1st will be issued a dividend of $0.84 per share. The ex-dividend date of this dividend is Wednesday, April 1st. This represents a $3.36 annualized dividend and a yield of 2.6%. State Street’s payout ratio is presently 35.71%.

About State Street

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.