State Street Co. (NYSE:STT – Get Rating) – Research analysts at Jefferies Financial Group lifted their Q1 2022 EPS estimates for State Street in a research note issued on Monday, April 11th. Jefferies Financial Group analyst K. Usdin now anticipates that the asset manager will post earnings of $1.51 per share for the quarter, up from their previous forecast of $1.45. Jefferies Financial Group also issued estimates for State Street’s Q2 2022 earnings at $2.14 EPS, Q3 2022 earnings at $2.30 EPS, Q4 2022 earnings at $2.40 EPS, Q1 2023 earnings at $2.03 EPS, Q2 2023 earnings at $2.64 EPS, Q3 2023 earnings at $2.68 EPS, Q4 2023 earnings at $2.66 EPS and FY2023 earnings at $10.00 EPS.
State Street (NYSE:STT – Get Rating) last issued its earnings results on Wednesday, January 19th. The asset manager reported $2.00 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.91 by $0.09. The business had revenue of $3.05 billion during the quarter, compared to analysts’ expectations of $3 billion. State Street had a net margin of 22.39% and a return on equity of 11.49%. The business’s revenue for the quarter was up 4.7% compared to the same quarter last year. During the same period in the previous year, the company earned $1.69 earnings per share.
Shares of State Street stock opened at $82.85 on Tuesday. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.55 and a current ratio of 0.55. The stock has a market capitalization of $30.44 billion, a PE ratio of 11.54, a price-to-earnings-growth ratio of 1.27 and a beta of 1.54. State Street has a 52-week low of $76.92 and a 52-week high of $104.87. The company has a 50-day simple moving average of $88.82 and a two-hundred day simple moving average of $92.74.
The firm also recently announced a quarterly dividend, which was paid on Monday, April 11th. Investors of record on Friday, April 1st were given a dividend of $0.57 per share. The ex-dividend date was Thursday, March 31st. This represents a $2.28 annualized dividend and a yield of 2.75%. State Street’s dividend payout ratio (DPR) is 31.75%.
In related news, EVP Andrew Erickson sold 16,000 shares of the business’s stock in a transaction that occurred on Monday, January 24th. The shares were sold at an average price of $89.00, for a total transaction of $1,424,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.27% of the company’s stock.
Several institutional investors and hedge funds have recently bought and sold shares of the business. TIAA FSB boosted its position in shares of State Street by 60.8% in the first quarter. TIAA FSB now owns 180,193 shares of the asset manager’s stock worth $15,675,000 after purchasing an additional 68,140 shares during the period. Crestwood Advisors Group LLC boosted its position in shares of State Street by 1.0% in the first quarter. Crestwood Advisors Group LLC now owns 685,554 shares of the asset manager’s stock worth $59,725,000 after purchasing an additional 7,046 shares during the period. Dividend Assets Capital LLC lifted its holdings in shares of State Street by 84.2% in the first quarter. Dividend Assets Capital LLC now owns 976 shares of the asset manager’s stock worth $85,000 after buying an additional 446 shares in the last quarter. Carnegie Capital Asset Management LLC lifted its holdings in shares of State Street by 1.3% in the first quarter. Carnegie Capital Asset Management LLC now owns 34,588 shares of the asset manager’s stock worth $3,013,000 after buying an additional 453 shares in the last quarter. Finally, Allied Investment Advisors LLC lifted its holdings in shares of State Street by 6.3% in the first quarter. Allied Investment Advisors LLC now owns 81,150 shares of the asset manager’s stock worth $7,070,000 after buying an additional 4,774 shares in the last quarter. Institutional investors and hedge funds own 88.89% of the company’s stock.
State Street Company Profile (Get Rating)
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; product accounting; daily pricing and administration; master trust and master custody; depotbank services; record-keeping; cash management; foreign exchange, brokerage and other trading services; securities finance and enhanced custody products; deposit and short-term investment facilities; loans and lease financing; investment manager and alternative investment manager operations outsourcing; performance, risk, and compliance analytics; and financial data management to support institutional investors.
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