State Street Co. (NYSE:STT – Get Rating) – Investment analysts at Jefferies Financial Group upped their Q1 2022 earnings per share estimates for shares of State Street in a report released on Monday, April 11th. Jefferies Financial Group analyst K. Usdin now forecasts that the asset manager will post earnings of $1.51 per share for the quarter, up from their previous estimate 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 quarterly earnings data on Wednesday, January 19th. The asset manager reported $2.00 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.91 by $0.09. State Street had a net margin of 22.39% and a return on equity of 11.49%. The business had revenue of $3.05 billion during the quarter, compared to the consensus estimate of $3 billion. During the same period in the prior year, the firm posted $1.69 EPS. The firm’s quarterly revenue was up 4.7% compared to the same quarter last year.
State Street stock opened at $82.85 on Tuesday. State Street has a twelve month low of $76.92 and a twelve month high of $104.87. The firm has a 50 day moving average price of $88.82 and a 200-day moving average price of $92.74. The company has a market capitalization of $30.44 billion, a P/E ratio of 11.54, a P/E/G ratio of 1.27 and a beta of 1.54. The company has a quick ratio of 0.55, a current ratio of 0.55 and a debt-to-equity ratio of 0.53.
Institutional investors have recently bought and sold shares of the company. Invesco Ltd. raised its position in shares of State Street by 63.7% during the 3rd quarter. Invesco Ltd. now owns 7,419,940 shares of the asset manager’s stock valued at $628,620,000 after buying an additional 2,886,287 shares in the last quarter. Janney Montgomery Scott LLC grew its holdings in shares of State Street by 27.3% during the 4th quarter. Janney Montgomery Scott LLC now owns 75,515 shares of the asset manager’s stock valued at $7,023,000 after purchasing an additional 16,195 shares during the last quarter. Nomura Asset Management Co. Ltd. grew its holdings in shares of State Street by 2.2% during the 4th quarter. Nomura Asset Management Co. Ltd. now owns 78,842 shares of the asset manager’s stock valued at $7,332,000 after purchasing an additional 1,672 shares during the last quarter. Shell Asset Management Co. grew its holdings in shares of State Street by 7.2% during the 3rd quarter. Shell Asset Management Co. now owns 22,675 shares of the asset manager’s stock valued at $1,921,000 after purchasing an additional 1,514 shares during the last quarter. Finally, Toroso Investments LLC grew its holdings in shares of State Street by 17.4% during the 3rd quarter. Toroso Investments LLC now owns 3,020 shares of the asset manager’s stock valued at $256,000 after purchasing an additional 447 shares during the last quarter. Hedge funds and other institutional investors own 88.89% of the company’s stock.
In other State Street news, EVP Andrew Erickson sold 16,000 shares of the stock in a transaction that occurred on Monday, January 24th. The shares were sold at an average price of $89.00, for a total value of $1,424,000.00. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 0.27% of the company’s stock.
The company also recently announced a quarterly dividend, which was paid on Monday, April 11th. Shareholders of record on Friday, April 1st were paid a $0.57 dividend. This represents a $2.28 annualized dividend and a yield of 2.75%. The ex-dividend date of this dividend was Thursday, March 31st. State Street’s dividend payout ratio is presently 31.75%.
About State Street (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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