State Street (STT) Scheduled to Post Quarterly Earnings on Friday

State Street (NYSE:STT) will be posting its quarterly earnings results before the market opens on Friday, April 12th. Analysts expect State Street to post earnings of $1.52 per share for the quarter. Individual that wish to listen to the company’s earnings conference call can do so using this link.

State Street (NYSE:STT) last posted its quarterly earnings data on Friday, January 19th. The asset manager reported $2.04 earnings per share (EPS) for the quarter, topping the consensus estimate 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 return on equity of 11.86% and a net margin of 10.59%. State Street’s revenue was down 3.5% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.07 EPS. On average, analysts expect State Street to post $8 EPS for the current fiscal year and $9 EPS for the next fiscal year.

State Street Trading Down 3.0 %

Shares of State Street stock opened at $74.37 on Thursday. The stock has a market cap of $22.46 billion, a P/E ratio of 13.55, a P/E/G ratio of 1.33 and a beta of 1.52. The stock’s 50 day simple moving average is $73.86 and its 200-day simple moving average is $72.12. State Street has a 1-year low of $62.78 and a 1-year high of $81.37. The company has a debt-to-equity ratio of 0.86, a current ratio of 0.55 and a quick ratio of 0.55.

State Street Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, April 11th. Stockholders of record on Monday, April 1st will be issued a dividend of $0.69 per share. This represents a $2.76 annualized dividend and a dividend yield of 3.71%. The ex-dividend date is Thursday, March 28th. State Street’s dividend payout ratio is currently 50.27%.

Insider Activity at State Street

In related news, 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 transaction, the executive vice president now directly owns 17,737 shares in the company, valued at $1,294,801. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 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 of the company’s stock, valued at $1,294,801. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Eric W. Aboaf sold 12,000 shares of the business’s stock in a transaction that occurred on Thursday, February 29th. The shares were sold at an average price of $73.90, for a total value of $886,800.00. Following the completion of 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 three months, insiders have sold 18,864 shares of company stock worth $1,390,597. Insiders own 0.34% of the company’s stock.

Institutional Trading of State Street

A number of institutional investors and hedge funds have recently added to or reduced their stakes in STT. Norges Bank purchased a new stake in shares of State Street during the fourth quarter worth $184,482,000. Morgan Stanley increased its position in shares of State Street by 31.1% during the fourth quarter. Morgan Stanley now owns 6,031,661 shares of the asset manager’s stock worth $467,876,000 after acquiring an additional 1,430,237 shares during the period. Eaton Vance Management increased its position in shares of State Street by 159.8% during the first quarter. Eaton Vance Management now owns 1,750,857 shares of the asset manager’s stock worth $152,535,000 after acquiring an additional 1,077,013 shares during the period. Barclays PLC increased its position in shares of State Street by 44.5% during the fourth quarter. Barclays PLC now owns 1,599,575 shares of the asset manager’s stock worth $123,905,000 after acquiring an additional 492,580 shares during the period. Finally, JPMorgan Chase & Co. increased its position in shares of State Street by 10.5% during the first quarter. JPMorgan Chase & Co. now owns 4,935,279 shares of the asset manager’s stock worth $373,551,000 after acquiring an additional 469,309 shares during the period. Hedge funds and other institutional investors own 87.44% of the company’s stock.

Analyst Ratings Changes

STT has been the topic of several recent research reports. Evercore ISI boosted their target price on State Street from $85.00 to $88.00 and gave the stock an “outperform” rating in a report on Thursday, April 4th. Keefe, Bruyette & Woods lowered their target price on State Street from $89.00 to $86.00 and set a “market perform” rating on the stock in a report on Monday, January 22nd. Bank of America restated an “underperform” rating and set a $81.00 target price on shares of State Street in a report on Thursday, January 4th. UBS Group boosted their target price on State Street from $70.00 to $82.00 and gave the stock a “neutral” rating in a report on Tuesday, January 9th. Finally, Royal Bank of Canada upped 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. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $82.92.

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.