State Street (NYSE:STT) Price Target Raised to $175.00

State Street (NYSE:STT) had its target price raised by Keefe, Bruyette & Woods from $157.00 to $175.00 in a report issued on Monday,Benzinga reports. The brokerage currently has an outperform rating on the asset manager’s stock.

Several other equities research analysts have also issued reports on STT. TD Cowen reissued a “buy” rating on shares of State Street in a research note on Wednesday, January 7th. Wall Street Zen upgraded State Street from a “sell” rating to a “hold” rating in a research report on Saturday, January 17th. Citigroup started coverage on State Street in a research report on Monday, February 23rd. They set a “buy” rating and a $150.00 target price on the stock. Morgan Stanley decreased their target price on State Street from $168.00 to $164.00 and set an “overweight” rating on the stock in a research report on Tuesday, January 20th. Finally, Truist Financial increased their target price on State Street from $136.00 to $150.00 and gave the company a “hold” rating in a research report on Monday. One equities research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat, State Street presently has a consensus rating of “Moderate Buy” and a consensus price target of $154.00.

State Street Trading Down 0.8%

STT stock opened at $152.28 on Monday. The company’s 50-day simple moving average is $129.85 and its 200-day simple moving average is $125.74. The company has a quick ratio of 0.61, a current ratio of 0.57 and a debt-to-equity ratio of 1.04. State Street has a 52-week low of $85.05 and a 52-week high of $156.18. The firm has a market cap of $42.19 billion, a P/E ratio of 15.44, a PEG ratio of 0.96 and a beta of 1.37.

State Street (NYSE:STT) last posted its earnings results on Friday, April 17th. The asset manager reported $2.84 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.64 by $0.20. State Street had a net margin of 13.47% and a return on equity of 14.22%. The business had revenue of $3.80 billion for the quarter, compared to analyst estimates of $3.59 billion. During the same period in the prior year, the company posted $2.04 EPS. The company’s revenue for the quarter was up 15.6% on a year-over-year basis. As a group, equities analysts forecast that State Street will post 12.21 EPS for the current fiscal year.

State Street Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, April 13th. Investors of record on Wednesday, April 1st were paid a $0.84 dividend. The ex-dividend date of this dividend was Wednesday, April 1st. This represents a $3.36 dividend on an annualized basis and a yield of 2.2%. State Street’s dividend payout ratio (DPR) is currently 34.08%.

Insiders Place Their Bets

In other State Street news, EVP John Plansky sold 16,100 shares of the firm’s stock in a transaction on Wednesday, March 11th. The stock was sold at an average price of $124.32, for a total value of $2,001,552.00. Following the transaction, the executive vice president owned 56,162 shares in the company, valued at approximately $6,982,059.84. This trade represents a 22.28% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 0.29% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in STT. True Wealth Design LLC lifted its holdings in State Street by 166.3% in the 3rd quarter. True Wealth Design LLC now owns 253 shares of the asset manager’s stock valued at $29,000 after purchasing an additional 158 shares in the last quarter. Wilkerson Advisory Group LLC purchased a new position in State Street in the 4th quarter valued at $29,000. JPL Wealth Management LLC purchased a new position in State Street in the 3rd quarter valued at $29,000. Phillip James Consulting Co. purchased a new position in State Street in the 4th quarter worth approximately $30,000. Finally, Flagship Wealth Advisors LLC purchased a new position in State Street in the 3rd quarter worth approximately $35,000. Hedge funds and other institutional investors own 87.44% of the company’s stock.

Key Headlines Impacting State Street

Here are the key news stories impacting State Street this week:

• Positive Sentiment: Earnings-estimate revisions are moving higher for State Street, suggesting analysts expect continued profit momentum — a near-term positive catalyst. Earnings Estimates Moving Higher for State Street (STT): Time to Buy?
• Positive Sentiment: Keefe, Bruyette & Woods raised its price target to $175, signaling upside vs. current levels and supporting investor optimism. Keefe, Bruyette & Woods Boosts State Street (NYSE:STT) Price Target to $175.00
• Positive Sentiment: Momentum and Q1 commentary: observers note STT rallied recently (up ~4.3% over a week) and some analysts described Q1 as a “blockbuster,” reflecting strong EPS/revenue beats that underpin the bullish case. State Street Corporation (STT) Is Up 4.31% in One Week: What You Should Know
• Neutral Sentiment: Analyst coverage is mixed: several outlets highlight conflicting views across brokerages (some Holds, some constructive), leaving consensus direction unclear for investors. Analysts’ Opinions Are Mixed on These Financial Stocks: Simmons 1st Nat’l (SFNC) and State Street (STT)
• Neutral Sentiment: State Street’s asset-management units have trimmed/ceased “substantial holder” positions in several foreign names — routine portfolio moves that are unlikely to materially affect STT’s fundamentals but may show portfolio flow activity. State Street Exits Substantial Holder Position in Washington H. Soul Pattinson
• Negative Sentiment: Bank of America (via coverage reported on TipRanks) reiterated a Hold, noting that while near-term delivery is solid, a valuation re-rating limits upside — a cautionary signal that can cap multiple expansion. State Street: Solid Near?term Delivery but Valuation Re?Rating Leaves Risk?Reward Balanced at Hold
• Negative Sentiment: RBC Capital issued a Hold on STT, reinforcing the cautious theme among some brokers and contributing to today’s selling pressure. State Street (STT) Receives a Hold from RBC Capital

State Street Company Profile

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.