State Street (NYSE:STT – Get Rating) is scheduled to post its quarterly earnings results before the market opens on Monday, April 17th. Analysts expect State Street to post earnings of $1.70 per share for the quarter. Investors interested in registering for the company’s conference call can do so using this link.
State Street (NYSE:STT – Get Rating) last released its earnings results on Friday, January 20th. The asset manager reported $2.07 EPS for the quarter, topping the consensus estimate of $2.00 by $0.07. State Street had a return on equity of 12.03% and a net margin of 20.92%. The firm had revenue of $3.16 billion during the quarter, compared to analysts’ expectations of $3.06 billion. 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 Price Performance
STT stock opened at $76.16 on Monday. The business’s 50-day moving average is $83.85 and its two-hundred day moving average is $78.07. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.56 and a quick ratio of 0.56. The firm has a market capitalization of $25.62 billion, a P/E ratio of 10.59, a P/E/G ratio of 1.01 and a beta of 1.56. State Street has a 1 year low of $58.62 and a 1 year high of $94.74.
State Street Dividend Announcement
Insider Buying and Selling
In other news, EVP David C. Phelan sold 15,000 shares of the firm’s stock in a transaction dated Friday, February 24th. The stock was sold at an average price of $86.63, for a total value of $1,299,450.00. Following the transaction, the executive vice president now directly owns 72,491 shares in the company, valued at approximately $6,279,895.33. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, CAO Ian Appleyard sold 6,725 shares of the company’s stock in a transaction on Friday, February 24th. The shares were sold at an average price of $88.42, for a total transaction of $594,624.50. Following the completion of the sale, the chief accounting officer now directly owns 14,493 shares of the company’s stock, valued at approximately $1,281,471.06. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP David C. Phelan sold 15,000 shares of State Street stock in a transaction on Friday, February 24th. The stock was sold at an average price of $86.63, for a total transaction of $1,299,450.00. Following the sale, the executive vice president now directly owns 72,491 shares in the company, valued at approximately $6,279,895.33. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 32,893 shares of company stock valued at $2,923,987. 0.25% of the stock is currently owned by company insiders.
Institutional Inflows and Outflows
Several hedge funds have recently added to or reduced their stakes in the stock. Norges Bank bought a new stake in State Street during the fourth quarter valued at $184,482,000. Morgan Stanley boosted its stake in State Street by 31.1% during the 4th quarter. Morgan Stanley now owns 6,031,661 shares of the asset manager’s stock valued at $467,876,000 after purchasing an additional 1,430,237 shares in the last quarter. Eaton Vance Management grew its stake in shares of State Street by 159.8% in the 1st quarter. Eaton Vance Management now owns 1,750,857 shares of the asset manager’s stock worth $152,535,000 after purchasing an additional 1,077,013 shares during the last quarter. Neuberger Berman Group LLC raised its position in shares of State Street by 1,943.4% during the third quarter. Neuberger Berman Group LLC now owns 390,180 shares of the asset manager’s stock worth $23,726,000 after purchasing an additional 371,085 shares during the period. Finally, Goldman Sachs Group Inc. lifted its stake in State Street by 23.8% during the second quarter. Goldman Sachs Group Inc. now owns 1,814,554 shares of the asset manager’s stock valued at $111,867,000 after buying an additional 348,782 shares in the last quarter. 88.41% of the stock is owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
A number of brokerages have weighed in on STT. Royal Bank of Canada lowered their price objective on State Street from $85.00 to $80.00 in a report on Friday, March 24th. Bank of America started coverage on State Street in a research report on Thursday, January 12th. They set a “neutral” rating and a $86.00 price target for the company. Credit Suisse Group upped their price objective on State Street from $76.00 to $84.00 and gave the company a “neutral” rating in a research report on Monday, January 23rd. StockNews.com initiated coverage on shares of State Street in a research report on Thursday, March 16th. They issued a “hold” rating for the company. Finally, Evercore ISI decreased their target price on shares of State Street from $92.00 to $87.00 and set an “outperform” rating on the stock in a research report on Wednesday, April 5th. Eight investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $88.35.
About State Street
State Street Corp. engages in the provision of financial services to institutional investors. It operates through the Commercial and Financial, and Commercial Real Estate segments. The company was founded in 1792 and is headquartered in Boston, MA.
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