Evercore ISI upgraded shares of State Street (NYSE:STT) from an in-line rating to an outperform rating in a research note published on Tuesday morning, MarketBeat Ratings reports. Evercore ISI currently has $64.99 price target on the asset manager’s stock.

Several other analysts also recently weighed in on the company. Zacks Investment Research downgraded State Street from a hold rating to a sell rating in a research report on Tuesday, October 23rd. Keefe, Bruyette & Woods restated a hold rating and issued a $72.00 price target on shares of State Street in a research report on Thursday, December 13th. ValuEngine cut State Street from a sell rating to a strong sell rating in a research note on Friday, October 19th. Wolfe Research began coverage on State Street in a research report on Tuesday, September 25th. They set a market perform rating for the company. Finally, TheStreet lowered shares of State Street from a b- rating to a c+ rating in a report on Tuesday, December 18th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and ten have given a buy rating to the company’s stock. The stock currently has an average rating of Buy and an average target price of $92.03.

STT stock traded down $0.16 during trading on Tuesday, reaching $66.35. The stock had a trading volume of 35,352 shares, compared to its average volume of 3,277,170. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.50 and a quick ratio of 0.50. State Street has a 1-year low of $57.87 and a 1-year high of $114.27. The firm has a market capitalization of $25.35 billion, a P/E ratio of 11.04, a P/E/G ratio of 0.96 and a beta of 1.35.

State Street (NYSE:STT) last released its quarterly earnings data on Friday, October 19th. The asset manager reported $1.87 EPS for the quarter, missing analysts’ consensus estimates of $1.89 by ($0.02). The business had revenue of $2.95 billion for the quarter, compared to the consensus estimate of $3.02 billion. State Street had a return on equity of 14.99% and a net margin of 19.90%. State Street’s revenue was up 3.7% on a year-over-year basis. During the same period in the previous year, the business posted $1.71 earnings per share. On average, sell-side analysts anticipate that State Street will post 7.31 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 16th. Shareholders of record on Wednesday, January 2nd will be given a dividend of $0.47 per share. This represents a $1.88 dividend on an annualized basis and a yield of 2.83%. The ex-dividend date of this dividend is Monday, December 31st. State Street’s dividend payout ratio is presently 31.54%.

In related news, Director Saint-Aignan Patrick De acquired 500 shares of the stock in a transaction dated Tuesday, October 23rd. The stock was acquired at an average cost of $68.62 per share, with a total value of $34,310.00. Following the purchase, the director now directly owns 25,138 shares of the company’s stock, valued at $1,724,969.56. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Louis D. Maiuri purchased 740 shares of the firm’s stock in a transaction that occurred on Wednesday, October 24th. The shares were acquired at an average cost of $67.60 per share, with a total value of $50,024.00. Following the completion of the purchase, the executive vice president now directly owns 45,314 shares in the company, valued at approximately $3,063,226.40. The disclosure for this purchase can be found here. Insiders own 0.40% of the company’s stock.

A number of institutional investors have recently bought and sold shares of STT. Strategic Wealth Partners Ltd. grew its stake in State Street by 1,038.7% in the 3rd quarter. Strategic Wealth Partners Ltd. now owns 353 shares of the asset manager’s stock worth $30,000 after acquiring an additional 322 shares during the period. Moody National Bank Trust Division grew its stake in State Street by 199.4% in the 4th quarter. Moody National Bank Trust Division now owns 470 shares of the asset manager’s stock valued at $30,000 after buying an additional 313 shares during the last quarter. CI Investments Inc. bought a new position in shares of State Street during the 3rd quarter worth about $101,000. Moneta Group Investment Advisors LLC increased its position in State Street by 3,604.1% in the 2nd quarter. Moneta Group Investment Advisors LLC now owns 29,633 shares of the asset manager’s stock valued at $103,000 after acquiring an additional 28,833 shares in the last quarter. Finally, Patriot Financial Group Insurance Agency LLC lifted its stake in State Street by 1,855.1% in the third quarter. Patriot Financial Group Insurance Agency LLC now owns 1,349 shares of the asset manager’s stock valued at $113,000 after buying an additional 1,280 shares in the last quarter. Institutional investors own 87.19% of the company’s stock.

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; product and participant level accounting; daily pricing and administration; master trust and master custody; depotbank services; record-keeping; cash management; foreign exchange, brokerage, and other trading services; securities finance; deposit and short-term investment facilities; loans and lease financing; investment manager and alternative investment manager operations outsourcing; performance, risk, and compliance analytics; and financial data management to support institutional investors.

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Analyst Recommendations for State Street (NYSE:STT)

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