State Street (NYSE:STT) Issues Earnings Results

State Street (NYSE:STT) issued its quarterly earnings data on Friday. The asset manager reported $2.60 EPS for the quarter, topping the consensus estimate of $2.29 by $0.31, Zacks reports. The business had revenue of $3.41 billion during the quarter, compared to analyst estimates of $3,267,560 billion. State Street had a net margin of 9.87% and a return on equity of 12.02%. The company’s revenue for the quarter was up 12.1% on a year-over-year basis. During the same period in the prior year, the business earned $2.04 EPS.

State Street Trading Down 3.0 %

Shares of NYSE:STT opened at $97.51 on Friday. The company has a debt-to-equity ratio of 0.91, a current ratio of 0.56 and a quick ratio of 0.56. The company has a market cap of $28.58 billion, a P/E ratio of 15.40, a PEG ratio of 0.97 and a beta of 1.43. The stock’s fifty day moving average price is $97.72 and its 200-day moving average price is $89.52. State Street has a 1 year low of $70.20 and a 1 year high of $101.91.

State Street Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, January 13th. Stockholders of record on Thursday, January 2nd were paid a $0.76 dividend. This represents a $3.04 annualized dividend and a dividend yield of 3.12%. The ex-dividend date of this dividend was Thursday, January 2nd. State Street’s dividend payout ratio is currently 48.03%.

Insider Activity

In related news, EVP Kathryn M. Horgan sold 12,500 shares of the company’s stock in a transaction on Monday, November 25th. The stock was sold at an average price of $97.97, for a total transaction of $1,224,625.00. Following the completion of the sale, the executive vice president now owns 111,042 shares in the company, valued at approximately $10,878,784.74. This represents a 10.12 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.31% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have commented on STT. The Goldman Sachs Group raised their price objective on shares of State Street from $98.00 to $100.00 and gave the stock a “buy” rating in a report on Thursday, September 26th. Morgan Stanley lowered their target price on State Street from $139.00 to $132.00 and set an “overweight” rating for the company in a research note on Friday, January 3rd. Evercore ISI increased their price objective on State Street from $89.00 to $94.00 and gave the stock an “outperform” rating in a report on Wednesday, October 16th. JPMorgan Chase & Co. upgraded shares of State Street from an “underweight” rating to a “neutral” rating and set a $95.00 target price on the stock in a report on Friday, December 20th. Finally, StockNews.com lowered shares of State Street from a “buy” rating to a “hold” rating in a research note on Friday. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, State Street presently has a consensus rating of “Hold” and a consensus target price of $100.33.

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.