State Street (NYSE:STT) Posts Earnings Results, Beats Expectations By $0.06 EPS

State Street (NYSE:STT - Get Free Report) issued its earnings results on Thursday. The asset manager reported $2.04 EPS for the quarter, beating analysts' consensus estimates of $1.98 by $0.06, RTT News reports. The firm had revenue of $3.28 billion for the quarter, compared to the consensus estimate of $3.30 billion. State Street had a return on equity of 12.60% and a net margin of 12.14%. During the same quarter in the previous year, the company posted $1.69 earnings per share.

State Street Trading Up 2.2 %

Shares of STT traded up $1.76 on Friday, reaching $81.39. 5,521,939 shares of the company's stock were exchanged, compared to its average volume of 2,182,146. The business has a 50 day moving average price of $89.24 and a two-hundred day moving average price of $93.77. State Street has a 12 month low of $70.20 and a 12 month high of $103.00. The stock has a market capitalization of $23.49 billion, a P/E ratio of 9.88, a price-to-earnings-growth ratio of 1.11 and a beta of 1.42. The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 1.03.

State Street Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, April 11th. Stockholders of record on Tuesday, April 1st were given a dividend of $0.76 per share. This represents a $3.04 annualized dividend and a dividend yield of 3.74%. The ex-dividend date was Tuesday, April 1st. State Street's dividend payout ratio is 34.12%.

Insider Buying and Selling at State Street

In other State Street news, EVP Ann Fogarty sold 3,705 shares of the 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 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 transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Gregory L. Summe sold 10,815 shares of the business's stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $100.00, for a total value of $1,081,500.00. Following the transaction, the director now owns 100,023 shares of the company's stock, valued at $10,002,300. The trade was a 9.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.29% of the company's stock.

Institutional Trading of State Street

An institutional investor recently bought a new position in State Street stock. Brighton Jones LLC purchased a new stake in State Street Co. (NYSE:STT - Free Report) in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 3,012 shares of the asset manager's stock, valued at approximately $296,000. Institutional investors own 87.44% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on STT shares. Wolfe Research raised State Street from an "underperform" rating to a "peer perform" rating in a report on Monday, January 27th. Evercore ISI dropped their price target on shares of State Street from $109.00 to $106.00 and set an "outperform" rating on the stock in a research report on Tuesday, April 1st. Wells Fargo & Company decreased their price objective on shares of State Street from $118.00 to $113.00 and set an "overweight" rating for the company in a report on Friday, March 28th. Morgan Stanley lowered their target price on shares of State Street from $139.00 to $132.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 2nd. Finally, Deutsche Bank Aktiengesellschaft restated a "hold" rating and set a $103.00 price target (down from $104.00) on shares of State Street in a report on Wednesday, January 22nd. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and six have given a buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $103.54.

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.