State Street Corp (NYSE:STT) was downgraded by Jefferies Group LLC from a “buy” rating to a “hold” rating in a research note issued on Tuesday, April 11th. They presently have a $87.00 price target on the asset manager’s stock, down from their prior price target of $89.00. Jefferies Group LLC’s price target would indicate a potential upside of 5.09% from the company’s current price.
A number of other research analysts have also issued reports on the stock. Royal Bank of Canada reiterated a “hold” rating and issued a $86.00 price objective on shares of State Street Corp in a report on Wednesday, January 4th. Barclays PLC raised their price objective on shares of State Street Corp from $77.00 to $92.00 and gave the company an “overweight” rating in a report on Tuesday, January 3rd. Argus lowered shares of State Street Corp from a “buy” rating to a “hold” rating in a report on Thursday, January 26th. Evercore ISI lowered shares of State Street Corp from a “hold” rating to an “underperform” rating and set a $82.00 price target for the company. in a report on Friday, March 3rd. Finally, Deutsche Bank AG lowered their price target on shares of State Street Corp from $85.00 to $84.00 and set a “hold” rating for the company in a report on Thursday, April 6th. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating and four have given a buy rating to the company’s stock. State Street Corp has an average rating of “Hold” and a consensus price target of $84.62.
State Street Corp (NYSE:STT) traded down 0.02% during trading on Tuesday, reaching $82.77. 784,692 shares of the company’s stock were exchanged. The company’s 50-day moving average is $80.46 and its 200-day moving average is $78.77. The company has a market capitalization of $31.14 billion, a PE ratio of 15.49 and a beta of 1.40. State Street Corp has a 1-year low of $50.60 and a 1-year high of $85.38.
State Street Corp (NYSE:STT) last posted its earnings results on Wednesday, April 26th. The asset manager reported $1.21 EPS for the quarter, topping analysts’ consensus estimates of $1.10 by $0.11. The firm had revenue of $2.67 billion during the quarter, compared to analysts’ expectations of $2.75 billion. State Street Corp had a net margin of 20.16% and a return on equity of 12.13%. The business’s revenue for the quarter was up 7.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.98 earnings per share. Equities research analysts expect that State Street Corp will post $5.94 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 18th. Investors of record on Monday, April 3rd were given a $0.38 dividend. This represents a $1.52 annualized dividend and a yield of 1.84%. The ex-dividend date was Thursday, March 30th. State Street Corp’s payout ratio is currently 30.52%.
ILLEGAL ACTIVITY WARNING: “State Street Corp (STT) Rating Lowered to Hold at Jefferies Group LLC” was first posted by Community Financial News and is owned by of Community Financial News. If you are reading this news story on another domain, it was stolen and reposted in violation of US & international trademark & copyright law. The original version of this news story can be accessed at https://www.com-unik.info/2017/05/16/state-street-corp-stt-lowered-to-hold-at-jefferies-group-llc-updated-updated-updated.html.
In other State Street Corp news, insider Wai-Kwong Seck sold 20,000 shares of the firm’s stock in a transaction on Monday, February 27th. The stock was sold at an average price of $79.04, for a total transaction of $1,580,800.00. Following the transaction, the insider now directly owns 60,093 shares in the company, valued at approximately $4,749,750.72. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Andrew P. Kuritzkes sold 4,675 shares of State Street Corp stock in a transaction on Thursday, February 16th. The stock was sold at an average price of $80.59, for a total value of $376,758.25. The disclosure for this sale can be found here. In the last three months, insiders sold 27,851 shares of company stock valued at $2,216,862. 0.64% of the stock is currently owned by insiders.
Several large investors have recently added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD boosted its stake in State Street Corp by 10.6% in the third quarter. Price T Rowe Associates Inc. MD now owns 37,536,973 shares of the asset manager’s stock worth $2,613,699,000 after buying an additional 3,594,037 shares during the last quarter. Vanguard Group Inc. boosted its stake in State Street Corp by 5.3% in the first quarter. Vanguard Group Inc. now owns 23,574,037 shares of the asset manager’s stock worth $1,876,730,000 after buying an additional 1,180,527 shares during the last quarter. BlackRock Inc. boosted its stake in State Street Corp by 2,256.7% in the first quarter. BlackRock Inc. now owns 20,603,959 shares of the asset manager’s stock worth $1,640,284,000 after buying an additional 19,729,678 shares during the last quarter. State Street Corp boosted its stake in State Street Corp by 6.3% in the fourth quarter. State Street Corp now owns 18,780,438 shares of the asset manager’s stock worth $1,459,614,000 after buying an additional 1,116,274 shares during the last quarter. Finally, FMR LLC boosted its stake in State Street Corp by 3.5% in the first quarter. FMR LLC now owns 18,048,219 shares of the asset manager’s stock worth $1,436,818,000 after buying an additional 607,920 shares during the last quarter. Institutional investors own 85.06% of the company’s stock.
State Street Corp Company Profile
State Street Corporation is a financial holding company. The Company operates through two lines of business: Investment Servicing and Investment Management. The Company, through its subsidiary, State Street Bank and Trust Company (State Street Bank), provides a range of financial products and services to institutional investors across the world.
What are top analysts saying about State Street Corp? - Enter your email address in the form below to receive our free daily email newsletter that contains the latest headlines and analysts' recommendations for for State Street Corp and related companies.