Wall Street analysts predict that State Street Corp (NYSE:STT) will report $3.02 billion in sales for the current fiscal quarter, Zacks reports. Four analysts have issued estimates for State Street’s earnings, with estimates ranging from $3.00 billion to $3.06 billion. State Street reported sales of $2.78 billion during the same quarter last year, which indicates a positive year-over-year growth rate of 8.6%. The company is expected to issue its next earnings report on Wednesday, April 25th.
According to Zacks, analysts expect that State Street will report full-year sales of $3.02 billion for the current year, with estimates ranging from $12.16 billion to $12.49 billion. For the next financial year, analysts expect that the firm will report sales of $12.77 billion per share, with estimates ranging from $12.59 billion to $12.92 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research analysts that cover State Street.
State Street (NYSE:STT) last issued its earnings results on Tuesday, January 23rd. The asset manager reported $1.61 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.71 by ($0.10). The business had revenue of $2.98 billion for the quarter, compared to analysts’ expectations of $2.98 billion. State Street had a return on equity of 13.41% and a net margin of 17.94%. The business’s quarterly revenue was up 8.5% on a year-over-year basis. During the same period last year, the company posted $1.48 earnings per share.
In other State Street news, EVP Andrew P. Kuritzkes sold 10,248 shares of the stock in a transaction on Wednesday, February 28th. The stock was sold at an average price of $108.17, for a total transaction of $1,108,526.16. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP George E. Sullivan sold 3,495 shares of the stock in a transaction on Friday, February 16th. The shares were sold at an average price of $103.07, for a total value of $360,229.65. Following the sale, the executive vice president now owns 58,340 shares in the company, valued at approximately $6,013,103.80. The disclosure for this sale can be found here. In the last quarter, insiders have sold 49,531 shares of company stock worth $5,146,169. 0.71% of the stock is owned by insiders.
A number of large investors have recently made changes to their positions in the business. Todd Asset Management LLC lifted its stake in shares of State Street by 84.0% during the 3rd quarter. Todd Asset Management LLC now owns 399,013 shares of the asset manager’s stock worth $38,122,000 after purchasing an additional 182,164 shares during the period. First Trust Advisors LP lifted its stake in shares of State Street by 7.9% during the 4th quarter. First Trust Advisors LP now owns 254,980 shares of the asset manager’s stock worth $24,889,000 after purchasing an additional 18,704 shares during the period. California Public Employees Retirement System lifted its stake in shares of State Street by 0.7% during the 4th quarter. California Public Employees Retirement System now owns 1,073,380 shares of the asset manager’s stock worth $104,773,000 after purchasing an additional 7,607 shares during the period. Amundi Pioneer Asset Management Inc. lifted its stake in shares of State Street by 7.4% during the 3rd quarter. Amundi Pioneer Asset Management Inc. now owns 696,179 shares of the asset manager’s stock worth $66,513,000 after purchasing an additional 48,253 shares during the period. Finally, Twin Capital Management Inc. lifted its stake in shares of State Street by 3.8% during the 4th quarter. Twin Capital Management Inc. now owns 90,250 shares of the asset manager’s stock worth $8,809,000 after purchasing an additional 3,268 shares during the period. Hedge funds and other institutional investors own 89.15% of the company’s stock.
State Street (STT) opened at $108.83 on Tuesday. The stock has a market capitalization of $40,360.00, a P/E ratio of 18.38, a PEG ratio of 1.43 and a beta of 1.29. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.49 and a current ratio of 0.49. State Street has a one year low of $75.27 and a one year high of $114.27.
The business also recently announced a quarterly dividend, which will be paid on Monday, April 16th. Shareholders of record on Monday, April 2nd will be issued a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a yield of 1.54%. The ex-dividend date of this dividend is Thursday, March 29th. State Street’s dividend payout ratio (DPR) is presently 28.38%.
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State Street Company Profile
State Street Corporation is a financial holding company. The Company operates through two lines of business: Investment Servicing and Investment Management. The Company, through its subsidiary, State Street Bank and Trust Company (State Street Bank), provides a range of financial products and services to institutional investors across the world.
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