Zacks Research Forecasts Stronger Earnings for State Street

State Street Co. (NYSE:STT - Free Report) - Equities research analysts at Zacks Research lifted their FY2024 earnings estimates for State Street in a report issued on Thursday, January 9th. Zacks Research analyst R. Department now anticipates that the asset manager will post earnings of $8.38 per share for the year, up from their previous estimate of $8.33. The consensus estimate for State Street's current full-year earnings is $8.42 per share. Zacks Research also issued estimates for State Street's Q4 2024 earnings at $2.28 EPS, Q1 2025 earnings at $1.80 EPS, Q2 2025 earnings at $2.42 EPS, Q4 2025 earnings at $2.56 EPS, FY2025 earnings at $9.27 EPS, Q1 2026 earnings at $2.01 EPS and Q4 2026 earnings at $2.94 EPS.

A number of other research analysts have also recently issued reports on STT. Evercore ISI lifted their price objective on shares of State Street from $89.00 to $94.00 and gave the company an "outperform" rating in a report on Wednesday, October 16th. StockNews.com downgraded State Street from a "buy" rating to a "hold" rating in a research note on Wednesday. The Goldman Sachs Group increased their price objective on State Street from $98.00 to $100.00 and gave the stock a "buy" rating in a research note on Thursday, September 26th. Keefe, Bruyette & Woods raised State Street from a "market perform" rating to an "outperform" rating and lifted their target price for the company from $105.00 to $120.00 in a research report on Tuesday, December 3rd. Finally, JPMorgan Chase & Co. raised State Street from an "underweight" rating to a "neutral" rating and set a $95.00 price target for the company in a research report on Friday, December 20th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, the company has an average rating of "Hold" and a consensus target price of $100.33.

State Street Stock Down 3.8 %

NYSE STT traded down $3.69 during mid-day trading on Friday, hitting $94.04. The company's stock had a trading volume of 2,530,717 shares, compared to its average volume of 1,674,665. The firm has a market capitalization of $27.57 billion, a price-to-earnings ratio of 14.86, a PEG ratio of 1.24 and a beta of 1.43. The company's 50 day simple moving average is $97.41 and its 200 day simple moving average is $88.68. The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 0.91. State Street has a twelve month low of $70.20 and a twelve month high of $101.91.

State Street (NYSE:STT - Get Free Report) last posted its quarterly earnings results on Tuesday, October 15th. The asset manager reported $2.26 earnings per share for the quarter, topping analysts' consensus estimates of $2.12 by $0.14. The business had revenue of $3.26 billion for the quarter, compared to the consensus estimate of $3.19 billion. State Street had a return on equity of 12.02% and a net margin of 9.87%. The firm's revenue for the quarter was up 21.1% on a year-over-year basis. During the same period in the prior year, the business earned $1.93 EPS.

Institutional Investors Weigh In On State Street

A number of hedge funds and other institutional investors have recently bought and sold shares of STT. Graypoint LLC purchased a new stake in shares of State Street in the fourth quarter worth about $203,000. ST Germain D J Co. Inc. lifted its stake in State Street by 6.7% in the 4th quarter. ST Germain D J Co. Inc. now owns 2,869 shares of the asset manager's stock worth $282,000 after purchasing an additional 180 shares in the last quarter. Wealth Enhancement Advisory Services LLC lifted its stake in State Street by 1.9% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 29,321 shares of the asset manager's stock worth $2,878,000 after purchasing an additional 535 shares in the last quarter. InvesTrust bought a new position in State Street in the 4th quarter valued at $742,000. Finally, Neville Rodie & Shaw Inc. boosted its holdings in State Street by 337.3% in the 4th quarter. Neville Rodie & Shaw Inc. now owns 18,150 shares of the asset manager's stock valued at $1,782,000 after purchasing an additional 14,000 shares during the period. Institutional investors own 87.44% of the company's stock.

Insider Transactions at State Street

In related news, EVP John Plansky sold 13,859 shares of State Street stock in a transaction dated Friday, October 18th. The stock was sold at an average price of $91.32, for a total value of $1,265,603.88. Following the completion of the sale, the executive vice president now owns 55,108 shares of the company's stock, valued at approximately $5,032,462.56. This trade represents a 20.10 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Kathryn M. Horgan sold 12,500 shares of the company's stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $97.97, for a total transaction of $1,224,625.00. Following the sale, the executive vice president now directly owns 111,042 shares in the company, valued at approximately $10,878,784.74. This trade represents a 10.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 26,460 shares of company stock worth $2,499,860 in the last quarter. Insiders own 0.31% of the company's stock.

State Street Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, January 13th. Stockholders of record on Thursday, January 2nd will be given a dividend of $0.76 per share. This represents a $3.04 dividend on an annualized basis and a dividend yield of 3.23%. The ex-dividend date of this dividend is Thursday, January 2nd. State Street's dividend payout ratio is currently 48.03%.

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.