2 weeks Ago By ABMN Staff
State Street ( NYSE:STT – Free Report ) had its price target lifted by Morgan Stanley from $93.00 to $100.00 in a research note published on Monday, Benzinga reports.
Morgan Stanley currently has an equal weight rating on the asset manager’s stock. STT has been the subject of a number of other research reports. Barclays raised their price target on shares of State Street from $102.
00 to $103.00 and gave the stock an overweight rating in a research report on Wednesday, July 17th. Deutsche Bank Aktiengesellschaft raised their price target on shares of State Street from $79.
00 to $87.00 and gave the stock a hold rating in a research report on Monday, September 23rd. Wells Fargo & Company raised their price target on shares of State Street from $91.
00 to $98.00 and gave the stock an overweight rating in a research report on Wednesday, July 17th. Keefe, Bruyette & Woods decreased their price target on shares of State Street from $88.
00 to $84.00 and set a market perform rating for the company in a research report on Thursday, June 27th. Finally, Evercore ISI raised their price objective on State Street from $88.
00 to $91.00 and gave the stock an outperform rating in a research note on Wednesday, July 17th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and five have assigned a buy rating to the company’s stock.
According to data from MarketBeat.com, the stock currently has an average rating of Hold and an average price target of $90.11.
View Our Latest Stock Analysis on State Street State Street Stock Up 0.3 % State Street ( NYSE:STT – Get Free Report ) last issued its quarterly earnings data on Tuesday, July 16th. The asset manager reported $2.
15 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.03 by $0.12.
State Street had a net margin of 8.98% and a return on equity of 11.78%.
The company had revenue of $3.19 billion during the quarter, compared to the consensus estimate of $3.15 billion.
During the same quarter last year, the company earned $2.17 earnings per share. State Street’s revenue for the quarter was up 2.
6% on a year-over-year basis. As a group, analysts forecast that State Street will post 8.15 earnings per share for the current fiscal year.
State Street Increases Dividend The business also recently announced a quarterly dividend, which will be paid on Friday, October 11th. Shareholders of record on Tuesday, October 1st will be paid a $0.76 dividend.
This represents a $3.04 dividend on an annualized basis and a yield of 3.44%.
This is a boost from State Street’s previous quarterly dividend of $0.69. The ex-dividend date of this dividend is Tuesday, October 1st.
State Street’s dividend payout ratio (DPR) is presently 56.93%. Institutional Investors Weigh In On State Street A number of hedge funds have recently added to or reduced their stakes in STT.
LSV Asset Management lifted its stake in State Street by 30.6% in the second quarter. LSV Asset Management now owns 5,282,386 shares of the asset manager’s stock valued at $390,897,000 after buying an additional 1,238,251 shares during the last quarter.
Jacobs Levy Equity Management Inc. lifted its stake in State Street by 541.2% in the first quarter.
Jacobs Levy Equity Management Inc. now owns 751,641 shares of the asset manager’s stock valued at $58,117,000 after buying an additional 634,422 shares during the last quarter. SG Americas Securities LLC lifted its stake in State Street by 430.
5% in the first quarter. SG Americas Securities LLC now owns 735,136 shares of the asset manager’s stock valued at $56,841,000 after buying an additional 596,567 shares during the last quarter. Balyasny Asset Management L.
P. increased its holdings in shares of State Street by 57.8% during the fourth quarter.
Balyasny Asset Management L.P. now owns 1,563,964 shares of the asset manager’s stock valued at $121,145,000 after purchasing an additional 573,016 shares during the period.
Finally, Lazard Asset Management LLC increased its holdings in shares of State Street by 168.7% during the first quarter. Lazard Asset Management LLC now owns 807,950 shares of the asset manager’s stock valued at $62,469,000 after purchasing an additional 507,270 shares during the period.
87.44% of the stock is currently owned by institutional investors. About State Street ( Get Free Report ) 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. Featured Stories Receive News & Ratings for State Street Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for State Street and related companies with MarketBeat.com's FREE daily email newsletter .
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