Seaport Res Ptn Reduces Earnings Estimates for State Street

State Street Co. (NYSE:STT - Free Report) - Investment analysts at Seaport Res Ptn cut their Q2 2025 earnings per share (EPS) estimates for State Street in a research note issued on Thursday, April 3rd. Seaport Res Ptn analyst J. Mitchell now forecasts that the asset manager will post earnings per share of $2.50 for the quarter, down from their prior forecast of $2.55. The consensus estimate for State Street's current full-year earnings is $9.68 per share. Seaport Res Ptn also issued estimates for State Street's FY2025 earnings at $9.80 EPS.

State Street (NYSE:STT - Get Free Report) last released its quarterly earnings results on Friday, January 17th. The asset manager reported $2.60 EPS for the quarter, topping analysts' consensus estimates of $2.29 by $0.31. State Street had a net margin of 12.14% and a return on equity of 12.60%. The firm had revenue of $3.41 billion during the quarter, compared to analysts' expectations of $3.27 billion. During the same period in the previous year, the company earned $2.04 EPS. The firm's revenue for the quarter was up 12.1% compared to the same quarter last year.

A number of other brokerages have also issued reports on STT. Evercore ISI decreased their price target on State Street from $109.00 to $106.00 and set an "outperform" rating for the company in a research note on Tuesday, April 1st. Bank of America boosted their target price on shares of State Street from $98.00 to $99.00 and gave the company an "underperform" rating in a research note on Wednesday, April 2nd. Citigroup reduced their price target on shares of State Street from $105.00 to $100.00 and set a "neutral" rating on the stock in a research note on Monday, March 24th. JPMorgan Chase & Co. raised shares of State Street from an "underweight" rating to a "neutral" rating and set a $95.00 price objective for the company in a research report on Friday, December 20th. Finally, Wolfe Research raised shares of State Street from an "underperform" rating to a "peer perform" rating in a research report on Monday, January 27th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $101.07.

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State Street Trading Up 0.5 %

NYSE STT traded up $0.41 during trading on Monday, hitting $79.41. The stock had a trading volume of 2,338,352 shares, compared to its average volume of 2,197,920. The stock has a market capitalization of $22.92 billion, a price-to-earnings ratio of 9.64, a P/E/G ratio of 1.11 and a beta of 1.42. The stock has a 50 day simple moving average of $91.04 and a 200 day simple moving average of $93.99. State Street has a one year low of $70.20 and a one year high of $103.00. The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.56 and a current ratio of 0.56.

Institutional Investors Weigh In On State Street

Several large investors have recently modified their holdings of the company. Godsey & Gibb Inc. lifted its position in State Street by 4.2% in the first quarter. Godsey & Gibb Inc. now owns 212,072 shares of the asset manager's stock valued at $18,987,000 after purchasing an additional 8,592 shares during the period. Vest Financial LLC acquired a new stake in shares of State Street in the 1st quarter valued at approximately $8,715,000. AEGON ASSET MANAGEMENT UK Plc boosted its stake in shares of State Street by 2.4% in the first quarter. AEGON ASSET MANAGEMENT UK Plc now owns 347,054 shares of the asset manager's stock valued at $31,079,000 after buying an additional 8,093 shares in the last quarter. Whipplewood Advisors LLC grew its holdings in State Street by 3,431.8% during the first quarter. Whipplewood Advisors LLC now owns 22,003 shares of the asset manager's stock worth $1,970,000 after acquiring an additional 21,380 shares during the period. Finally, Merit Financial Group LLC raised its position in State Street by 45.3% in the first quarter. Merit Financial Group LLC now owns 5,846 shares of the asset manager's stock worth $523,000 after acquiring an additional 1,822 shares in the last quarter. 87.44% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, 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 transaction, the director now owns 100,023 shares in the company, valued at $10,002,300. The trade was a 9.76 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Ann Fogarty sold 3,705 shares of the company's stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $99.47, for a total value of $368,536.35. Following the transaction, the executive vice president now directly owns 50,816 shares of the company's stock, valued at approximately $5,054,667.52. This represents a 6.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.31% of the stock is currently owned by corporate insiders.

State Street Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, April 11th. Stockholders of record on Tuesday, April 1st will be paid a $0.76 dividend. This represents a $3.04 annualized dividend and a dividend yield of 3.83%. The ex-dividend date of this dividend is Tuesday, April 1st. State Street's dividend payout ratio is currently 36.89%.

About State Street

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.