State Street Co. (NYSE:STT - Free Report) - Investment analysts at Seaport Res Ptn reduced their Q3 2024 earnings estimates for State Street in a research report issued to clients and investors on Sunday, April 14th. Seaport Res Ptn analyst J. Mitchell now expects that the asset manager will earn $2.03 per share for the quarter, down from their prior estimate of $2.09. The consensus estimate for State Street's current full-year earnings is $7.85 per share. Seaport Res Ptn also issued estimates for State Street's Q1 2025 earnings at $1.66 EPS and Q3 2025 earnings at $2.42 EPS.
Other equities analysts have also issued research reports about the stock. Bank of America reiterated an "underperform" rating and issued a $81.00 target price on shares of State Street in a research report on Thursday, January 4th. UBS Group raised their price objective on shares of State Street from $80.00 to $82.00 and gave the company a "neutral" rating in a research report on Friday. JPMorgan Chase & Co. raised their price objective on shares of State Street from $79.50 to $80.50 in a research report on Friday. Evercore ISI raised their price objective on shares of State Street from $85.00 to $88.00 and gave the company an "outperform" rating in a research report on Thursday, April 4th. Finally, Keefe, Bruyette & Woods reduced their price objective on shares of State Street from $89.00 to $86.00 and set a "market perform" rating for the company in a research report on Monday, January 22nd. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and five have given a buy rating to the company. According to MarketBeat.com, State Street has a consensus rating of "Hold" and a consensus target price of $84.04.
Check Out Our Latest Stock Report on STT
State Street Price Performance
STT traded down $1.91 on Tuesday, reaching $73.02. The company had a trading volume of 3,018,348 shares, compared to its average volume of 2,291,066. The company has a fifty day moving average of $73.96 and a 200-day moving average of $72.32. The company has a market capitalization of $22.05 billion, a P/E ratio of 13.67, a PEG ratio of 1.42 and a beta of 1.52. The company has a current ratio of 0.61, a quick ratio of 0.55 and a debt-to-equity ratio of 0.90. State Street has a one year low of $62.78 and a one year high of $79.90.
State Street (NYSE:STT - Get Free Report) last issued its earnings results on Friday, January 19th. The asset manager reported $2.04 earnings per share for the quarter, topping analysts' consensus estimates of $1.83 by $0.21. The company had revenue of $3.04 billion for the quarter, compared to analysts' expectations of $2.95 billion. State Street had a net margin of 9.62% and a return on equity of 12.03%. The firm's revenue was down 3.5% compared to the same quarter last year. During the same period in the prior year, the company earned $2.07 earnings per share.
State Street Announces Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, April 11th. Stockholders of record on Monday, April 1st were issued a dividend of $0.69 per share. This represents a $2.76 annualized dividend and a dividend yield of 3.78%. The ex-dividend date of this dividend was Thursday, March 28th. State Street's dividend payout ratio (DPR) is presently 51.69%.
Insider Activity
In other State Street news, EVP Anthony Bisegna sold 2,606 shares of the business's stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $73.00, for a total value of $190,238.00. Following the sale, the executive vice president now owns 17,737 shares in the company, valued at approximately $1,294,801. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CFO Eric W. Aboaf sold 12,000 shares of the company's stock in a transaction that occurred on Thursday, February 29th. The stock was sold at an average price of $73.90, for a total transaction of $886,800.00. Following the sale, the chief financial officer now owns 149,063 shares in the company, valued at approximately $11,015,755.70. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Anthony Bisegna sold 2,606 shares of the company's stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $73.00, for a total value of $190,238.00. Following the sale, the executive vice president now owns 17,737 shares in the company, valued at approximately $1,294,801. The disclosure for this sale can be found here. Insiders have sold 18,864 shares of company stock worth $1,390,597 in the last 90 days. Corporate insiders own 0.31% of the company's stock.
Institutional Inflows and Outflows
A number of institutional investors have recently made changes to their positions in the business. Raymond James Trust N.A. grew its holdings in shares of State Street by 29.3% during the 1st quarter. Raymond James Trust N.A. now owns 4,505 shares of the asset manager's stock worth $392,000 after purchasing an additional 1,021 shares in the last quarter. Blair William & Co. IL grew its holdings in shares of State Street by 14.3% during the 1st quarter. Blair William & Co. IL now owns 17,756 shares of the asset manager's stock worth $1,547,000 after purchasing an additional 2,216 shares in the last quarter. Sei Investments Co. grew its holdings in shares of State Street by 3.8% during the 1st quarter. Sei Investments Co. now owns 280,353 shares of the asset manager's stock worth $24,436,000 after purchasing an additional 10,187 shares in the last quarter. Prudential PLC acquired a new stake in shares of State Street during the 1st quarter worth $812,000. Finally, Cetera Investment Advisers grew its holdings in shares of State Street by 16.5% during the 1st quarter. Cetera Investment Advisers now owns 23,170 shares of the asset manager's stock worth $2,019,000 after purchasing an additional 3,276 shares in the last quarter. 87.44% of the stock is owned by institutional investors and hedge funds.
State Street Company Profile
(
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.
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