State Street (STT) to Release Earnings on Thursday

State Street (NYSE:STT) will likely be posting its quarterly earnings results before the market opens on Thursday, April 17th. Analysts expect State Street to post earnings of $1.98 per share and revenue of $3.30 billion for the quarter. Investors interested in registering for the company’s conference call can do so using this link.

State Street (NYSE:STT) last released its earnings results on Friday, January 17th. The asset manager reported $2.60 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.29 by $0.31. The firm had revenue of $3.41 billion during the quarter, compared to analyst estimates of $3.27 billion. State Street had a return on equity of 12.60% and a net margin of 12.14%. State Street’s revenue was up 12.1% compared to the same quarter last year. During the same period last year, the business posted $2.04 earnings per share. On average, analysts expect State Street to post $10 EPS for the current fiscal year and $11 EPS for the next fiscal year.

State Street Price Performance

STT stock opened at $81.35 on Wednesday. The business’s 50-day moving average is $90.31 and its two-hundred day moving average is $93.89. The company has a debt-to-equity ratio of 1.03, a current ratio of 0.56 and a quick ratio of 0.56. The firm has a market capitalization of $23.48 billion, a P/E ratio of 9.87, a P/E/G ratio of 1.11 and a beta of 1.42. State Street has a 1 year low of $70.20 and a 1 year high of $103.00.

State Street Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, April 11th. Investors of record on Tuesday, April 1st were paid a $0.76 dividend. The ex-dividend date of this dividend was Tuesday, April 1st. This represents a $3.04 dividend on an annualized basis and a yield of 3.74%. State Street’s dividend payout ratio is currently 36.89%.

Insider Buying and Selling at State Street

In related news, EVP Ann Fogarty sold 3,705 shares of the firm’s stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $99.47, for a total value of $368,536.35. Following the completion of the sale, the executive vice president now owns 50,816 shares in the company, valued at $5,054,667.52. This trade represents a 6.80 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Gregory L. Summe sold 10,815 shares of State Street stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $100.00, for a total value of $1,081,500.00. Following the completion of the sale, the director now owns 100,023 shares in the company, valued at approximately $10,002,300. This trade represents a 9.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.31% of the company’s stock.

Institutional Trading of State Street

A hedge fund recently bought a new stake in State Street stock. Brighton Jones LLC acquired a new position in shares of State Street Co. (NYSE:STT) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 3,012 shares of the asset manager’s stock, valued at approximately $296,000. 87.44% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the stock. Barclays lifted their price objective on shares of State Street from $108.00 to $127.00 and gave the stock an “overweight” rating in a research report on Monday, January 6th. Wells Fargo & Company dropped their price objective on State Street from $118.00 to $113.00 and set an “overweight” rating on the stock in a report on Friday, March 28th. JPMorgan Chase & Co. upgraded State Street from an “underweight” rating to a “neutral” rating and set a $95.00 target price for the company in a research note on Friday, December 20th. Truist Financial dropped their price target on shares of State Street from $104.00 to $89.00 and set a “hold” rating on the stock in a research note on Friday, April 4th. Finally, Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a $103.00 price objective (down previously from $104.00) on shares of State Street in a research report on Wednesday, January 22nd. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and six have given a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $103.69.

State Street Company Profile

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.