State Street (NYSE:STT) Price Target Raised to $86.00 at Argus

State Street (NYSE:STT) had its price target upped by Argus from $84.00 to $86.00 in a report published on Monday, Benzinga reports. The firm currently has a buy rating on the asset manager’s stock.

Several other analysts also recently commented on the company. JPMorgan Chase & Co. increased their target price on State Street from $79.50 to $80.50 in a research note on Friday, April 12th. Barclays increased their target price on State Street from $87.00 to $102.00 and gave the company an overweight rating in a research note on Tuesday, January 2nd. Royal Bank of Canada increased their price target on State Street from $75.00 to $85.00 and gave the company a sector perform rating in a report on Monday, January 22nd. Keefe, Bruyette & Woods lowered their price target on State Street from $89.00 to $86.00 and set a market perform rating on the stock in a report on Monday, January 22nd. Finally, Evercore ISI increased their price target on State Street from $85.00 to $88.00 and gave the company an outperform rating in a report on Thursday, April 4th. Two analysts have rated the stock with a sell rating, six have issued a hold rating and five have issued 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 $84.04.

State Street Stock Performance

State Street stock opened at $73.04 on Monday. The stock’s 50 day moving average is $73.99 and its 200 day moving average is $72.37. 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 has a twelve month low of $62.78 and a twelve month high of $79.90. The company has a market capitalization of $22.05 billion, a P/E ratio of 13.68, a PEG ratio of 1.30 and a beta of 1.52.

State Street (NYSE:STT) last issued its earnings results on Friday, January 19th. The asset manager reported $2.04 EPS for the quarter, beating the consensus estimate of $1.83 by $0.21. State Street had a return on equity of 12.03% and a net margin of 9.62%. The business had revenue of $3.04 billion for the quarter, compared to the consensus estimate of $2.95 billion. During the same period last year, the business posted $2.07 EPS. The company’s revenue was down 3.5% compared to the same quarter last year. On average, equities research analysts predict that State Street will post 7.91 earnings per share for the current fiscal year.

State Street Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, April 11th. Stockholders of record on Monday, April 1st were given a $0.69 dividend. The ex-dividend date was Thursday, March 28th. This represents a $2.76 dividend on an annualized basis and a dividend yield of 3.78%. State Street’s payout ratio is currently 51.69%.

Insider Buying and Selling

In other news, CFO Eric W. Aboaf sold 12,000 shares of State Street stock in a transaction that occurred on Thursday, February 29th. The shares were sold at an average price of $73.90, for a total value of $886,800.00. Following the transaction, the chief financial officer now owns 149,063 shares of the company’s stock, valued at approximately $11,015,755.70. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other State Street news, CFO Eric W. Aboaf sold 12,000 shares of State Street stock in a transaction that occurred on Thursday, February 29th. The shares were sold at an average price of $73.90, for a total value of $886,800.00. Following the completion of the sale, the chief financial officer now directly owns 149,063 shares in the company, valued at $11,015,755.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Anthony Bisegna sold 4,258 shares of State Street stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $73.64, for a total transaction of $313,559.12. Following the completion of the transaction, the executive vice president now directly owns 23,328 shares in the company, valued at approximately $1,717,873.92. The disclosure for this sale can be found here. Insiders have sold a total of 18,864 shares of company stock valued at $1,390,597 in the last quarter. Company insiders own 0.31% of the company’s stock.

Institutional Investors Weigh In On State Street

Hedge funds have recently added to or reduced their stakes in the stock. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH acquired a new stake in shares of State Street in the 1st quarter valued at approximately $1,178,000. Diversified Trust Co raised its holdings in State Street by 252.7% during the 1st quarter. Diversified Trust Co now owns 38,848 shares of the asset manager’s stock worth $3,004,000 after buying an additional 27,832 shares during the period. LVW Advisors LLC raised its holdings in State Street by 23.6% during the 1st quarter. LVW Advisors LLC now owns 5,265 shares of the asset manager’s stock worth $407,000 after buying an additional 1,004 shares during the period. Trilogy Capital Inc. acquired a new stake in State Street during the 1st quarter worth approximately $2,752,000. Finally, Norwood Financial Corp acquired a new stake in State Street during the 1st quarter worth approximately $35,000. Institutional investors own 87.44% of the company’s stock.

About State Street

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.