State Street (NYSE:STT) Price Target Lowered to $132.00 at Morgan Stanley

State Street (NYSE:STT) had its price objective decreased by Morgan Stanley from $139.00 to $132.00 in a research note published on Wednesday,Benzinga reports. Morgan Stanley currently has an overweight rating on the asset manager’s stock.

A number of other research firms have also commented on STT. Wolfe Research raised State Street from an “underperform” rating to a “peer perform” rating in a research note on Monday, January 27th. Evercore ISI reduced their price objective on shares of State Street from $109.00 to $106.00 and set an “outperform” rating on the stock in a research note on Tuesday. Truist Financial lowered their target price on shares of State Street from $106.00 to $104.00 and set a “hold” rating for the company in a research note on Tuesday, January 21st. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a $103.00 price target (down previously from $104.00) on shares of State Street in a research report on Wednesday, January 22nd. Finally, Wells Fargo & Company lowered their price objective on State Street from $118.00 to $113.00 and set an “overweight” rating for the company in a research report on Friday, March 28th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $102.07.

State Street Trading Up 1.0 %

Shares of NYSE STT opened at $89.67 on Wednesday. The firm has a 50 day moving average price of $94.85 and a two-hundred day moving average price of $94.62. The stock has a market cap of $25.87 billion, a P/E ratio of 10.88, a price-to-earnings-growth ratio of 1.11 and a beta of 1.44. State Street has a 52-week low of $70.20 and a 52-week high of $103.00. The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.56 and a current ratio of 0.56.

State Street (NYSE:STT) last posted its quarterly earnings data on Friday, January 17th. The asset manager reported $2.60 earnings per share for the quarter, beating analysts’ consensus estimates of $2.29 by $0.31. The business had revenue of $3.41 billion during the quarter, compared to the consensus estimate of $3.27 billion. State Street had a return on equity of 12.60% and a net margin of 12.14%. State Street’s quarterly revenue was up 12.1% on a year-over-year basis. During the same period in the prior year, the business posted $2.04 earnings per share. As a group, equities analysts forecast that State Street will post 9.68 EPS for the current year.

State Street Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, April 11th. Investors of record on Tuesday, April 1st will be given a $0.76 dividend. This represents a $3.04 annualized dividend and a yield of 3.39%. The ex-dividend date is Tuesday, April 1st. State Street’s payout ratio is currently 36.89%.

Insider Buying and Selling at State Street

In other State Street news, Director Gregory L. Summe sold 10,815 shares of the business’s stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $100.00, for a total transaction of $1,081,500.00. Following the completion of the sale, the director now directly owns 100,023 shares of the company’s stock, valued at approximately $10,002,300. The trade was a 9.76 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Ann Fogarty sold 3,705 shares of the firm’s stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $99.47, for a total value of $368,536.35. Following the completion of the transaction, the executive vice president now owns 50,816 shares in the company, valued at $5,054,667.52. This represents a 6.80 % decrease in their position. The disclosure for this sale can be found here. 0.31% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On State Street

A number of institutional investors and hedge funds have recently bought and sold shares of STT. Adero Partners LLC grew its stake in shares of State Street by 3.6% in the 4th quarter. Adero Partners LLC now owns 2,900 shares of the asset manager’s stock worth $285,000 after acquiring an additional 100 shares in the last quarter. Peapack Gladstone Financial Corp grew its position in State Street by 2.0% in the 3rd quarter. Peapack Gladstone Financial Corp now owns 5,283 shares of the asset manager’s stock worth $467,000 after purchasing an additional 103 shares in the last quarter. Jacobi Capital Management LLC increased its stake in State Street by 1.0% in the 4th quarter. Jacobi Capital Management LLC now owns 12,232 shares of the asset manager’s stock valued at $1,201,000 after buying an additional 121 shares during the last quarter. Moors & Cabot Inc. lifted its position in shares of State Street by 0.7% during the 4th quarter. Moors & Cabot Inc. now owns 18,332 shares of the asset manager’s stock worth $1,799,000 after buying an additional 131 shares in the last quarter. Finally, MassMutual Private Wealth & Trust FSB boosted its stake in shares of State Street by 13.1% in the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 1,157 shares of the asset manager’s stock worth $104,000 after buying an additional 134 shares during the last quarter. 87.44% of the stock is owned by hedge funds and other institutional investors.

State Street Company Profile

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.