State Street Corp (NYSE:STT) insider Jeff D. Conway sold 747 shares of State Street stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $103.07, for a total value of $76,993.29. The sale was disclosed in a filing with the SEC, which is available at this link.
State Street Corp (STT) opened at $103.79 on Wednesday. The firm has a market capitalization of $38,437.81, a price-to-earnings ratio of 16.28, a price-to-earnings-growth ratio of 1.72 and a beta of 1.31. The company has a quick ratio of 0.48, a current ratio of 0.49 and a debt-to-equity ratio of 0.61. State Street Corp has a fifty-two week low of $75.27 and a fifty-two week high of $114.27.
State Street (NYSE:STT) last announced its quarterly earnings data on Tuesday, January 23rd. The asset manager reported $1.61 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.71 by ($0.10). The company had revenue of $2.98 billion during the quarter, compared to analyst estimates of $2.98 billion. State Street had a net margin of 17.94% and a return on equity of 13.41%. State Street’s revenue was up 8.5% on a year-over-year basis. During the same period in the prior year, the firm earned $1.48 earnings per share. equities research analysts anticipate that State Street Corp will post 7.62 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, April 16th. Shareholders of record on Monday, April 2nd will be issued a $0.42 dividend. The ex-dividend date of this dividend is Thursday, March 29th. This represents a $1.68 annualized dividend and a yield of 1.62%. State Street’s dividend payout ratio is presently 32.12%.
Several brokerages have recently commented on STT. Buckingham Research lifted their target price on State Street from $124.00 to $131.00 and gave the stock a “buy” rating in a research note on Wednesday, January 24th. Zacks Investment Research downgraded State Street from a “buy” rating to a “hold” rating and set a $109.00 target price for the company. in a research note on Friday, January 5th. Royal Bank of Canada reduced their target price on State Street from $104.00 to $95.00 and set a “sector perform” rating for the company in a research note on Tuesday, October 24th. Keefe, Bruyette & Woods restated a “buy” rating and issued a $114.00 price target on shares of State Street in a research note on Friday, December 22nd. Finally, Morgan Stanley boosted their price target on State Street from $105.00 to $114.00 and gave the company an “equal weight” rating in a research note on Thursday, January 25th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, nine have given a buy rating and two have assigned a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus target price of $106.69.
Hedge funds and other institutional investors have recently made changes to their positions in the business. Raymond James Trust N.A. raised its holdings in State Street by 26.5% in the 3rd quarter. Raymond James Trust N.A. now owns 4,112 shares of the asset manager’s stock valued at $393,000 after acquiring an additional 862 shares in the last quarter. Boston Advisors LLC acquired a new position in State Street in the 3rd quarter valued at $13,279,000. Todd Asset Management LLC raised its holdings in State Street by 84.0% in the 3rd quarter. Todd Asset Management LLC now owns 399,013 shares of the asset manager’s stock valued at $38,122,000 after acquiring an additional 182,164 shares in the last quarter. Dupont Capital Management Corp raised its holdings in State Street by 36.8% in the 3rd quarter. Dupont Capital Management Corp now owns 76,455 shares of the asset manager’s stock valued at $7,305,000 after acquiring an additional 20,564 shares in the last quarter. Finally, Arrow Financial Corp raised its holdings in State Street by 71.6% in the 3rd quarter. Arrow Financial Corp now owns 10,498 shares of the asset manager’s stock valued at $1,003,000 after acquiring an additional 4,379 shares in the last quarter. 87.56% of the stock is owned by hedge funds and other institutional investors.
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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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