FY2024 Earnings Estimate for State Street Co. Issued By Zacks Research (NYSE:STT)

State Street Co. (NYSE:STT - Free Report) - Zacks Research lifted their FY2024 earnings estimates for State Street in a research note issued on Wednesday, May 1st. Zacks Research analyst S. Shah now expects that the asset manager will earn $7.83 per share for the year, up from their previous forecast of $7.64. The consensus estimate for State Street's current full-year earnings is $7.93 per share. Zacks Research also issued estimates for State Street's Q1 2025 earnings at $1.56 EPS.

STT has been the topic of a number of other reports. UBS Group raised their price target on shares of State Street from $80.00 to $82.00 and gave the company a "neutral" rating in a research note on Friday, April 12th. Keefe, Bruyette & Woods lowered their price target on shares of State Street from $89.00 to $86.00 and set a "market perform" rating for the company in a report on Monday, January 22nd. Royal Bank of Canada raised their price objective on State Street from $75.00 to $85.00 and gave the company a "sector perform" rating in a report on Monday, January 22nd. JPMorgan Chase & Co. upped their target price on State Street from $79.50 to $80.50 in a report on Friday, April 12th. Finally, Bank of America reissued an "underperform" rating and set a $81.00 price target on shares of State Street in a research note on Thursday, January 4th. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $84.04.

State Street Price Performance

Shares of STT stock traded up $1.19 on Friday, hitting $74.39. 1,596,642 shares of the company's stock were exchanged, compared to its average volume of 2,384,009. State Street has a 12 month low of $62.78 and a 12 month high of $79.90. The company has a debt-to-equity ratio of 0.90, a current ratio of 0.61 and a quick ratio of 0.55. The company has a 50 day moving average of $74.24 and a 200 day moving average of $72.98. The stock has a market cap of $22.46 billion, a P/E ratio of 13.93, a price-to-earnings-growth ratio of 1.30 and a beta of 1.52.

State Street Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, April 11th. Investors of record on Monday, April 1st were paid a $0.69 dividend. This represents a $2.76 dividend on an annualized basis and a yield of 3.71%. The ex-dividend date was Thursday, March 28th. State Street's payout ratio is 51.69%.

Insider Transactions at State Street

In other news, EVP Anthony Bisegna sold 2,606 shares of the stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $73.00, for a total value of $190,238.00. Following the transaction, the executive vice president now owns 17,737 shares in the company, valued at approximately $1,294,801. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, EVP Anthony Bisegna sold 2,606 shares of the firm's stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $73.00, for a total transaction of $190,238.00. Following the completion of the transaction, the executive vice president now owns 17,737 shares in the company, valued at $1,294,801. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Eric W. Aboaf sold 12,000 shares of the company's stock in a transaction on Thursday, February 29th. The shares were sold at an average price of $73.90, for a total transaction of $886,800.00. Following the sale, the chief financial officer now directly owns 149,063 shares in the company, valued at approximately $11,015,755.70. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 18,864 shares of company stock worth $1,390,597. Corporate insiders own 0.31% of the company's stock.

Hedge Funds Weigh In On State Street

A number of hedge funds and other institutional investors have recently made changes to their positions in STT. CVA Family Office LLC acquired a new position in shares of State Street during the fourth quarter worth $27,000. Venturi Wealth Management LLC raised its stake in State Street by 92.5% in the fourth quarter. Venturi Wealth Management LLC now owns 383 shares of the asset manager's stock valued at $30,000 after buying an additional 184 shares during the last quarter. Turtle Creek Wealth Advisors LLC acquired a new stake in State Street in the fourth quarter worth about $35,000. Norwood Financial Corp purchased a new stake in State Street during the 1st quarter worth approximately $35,000. Finally, Accent Capital Management LLC acquired a new position in State Street during the 4th quarter valued at approximately $39,000. Institutional investors own 87.44% of the company's stock.

About State Street

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.