State Street Corp (STT) Rating Lowered to Hold at Jefferies Group LLC

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.

Analyst Recommendations for State Street Corp (NYSE:STT)

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%.

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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.

5 Day Chart for NYSE:STT

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