STT has been the subject of several other reports. Deutsche Bank AG boosted their price objective on State Street Corp. from $70.00 to $73.00 and gave the company a hold rating in a report on Friday, September 9th. Credit Agricole SA boosted their price objective on State Street Corp. from $60.00 to $73.00 and gave the company an underperform rating in a report on Friday, September 23rd. Jefferies Group boosted their price objective on State Street Corp. from $80.00 to $81.00 and gave the company a buy rating in a report on Monday. Credit Suisse Group AG reissued a hold rating on shares of State Street Corp. in a report on Tuesday, June 28th. Finally, Buckingham Research reissued a buy rating on shares of State Street Corp. in a report on Tuesday, June 21st. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and six have given a buy rating to the stock. State Street Corp. presently has a consensus rating of Hold and an average target price of $70.42.
Shares of State Street Corp. (NYSE:STT) opened at 68.76 on Tuesday. The stock has a 50 day moving average price of $70.26 and a 200 day moving average price of $62.98. State Street Corp. has a 12-month low of $50.60 and a 12-month high of $75.40. The firm has a market capitalization of $26.82 billion, a PE ratio of 14.03 and a beta of 1.52.
State Street Corp. (NYSE:STT) last announced its quarterly earnings data on Wednesday, July 27th. The company reported $1.46 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.26 by $0.20. The firm earned $2.57 billion during the quarter, compared to analyst estimates of $2.65 billion. State Street Corp. had a return on equity of 11.22% and a net margin of 20.19%. State Street Corp.’s quarterly revenue was down 1.3% on a year-over-year basis. During the same period in the previous year, the company earned $1.36 earnings per share. Analysts predict that State Street Corp. will post $0.02 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Monday, October 17th. Shareholders of record on Monday, October 3rd will be given a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a yield of 2.21%. This is an increase from State Street Corp.’s previous quarterly dividend of $0.34. The ex-dividend date of this dividend is Thursday, September 29th. State Street Corp.’s dividend payout ratio is 30.89%.
In other news, EVP Jeffrey N. Carp sold 15,000 shares of the stock in a transaction on Monday, October 3rd. The stock was sold at an average price of $69.26, for a total transaction of $1,038,900.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Karen C. Keenan sold 7,500 shares of the stock in a transaction on Thursday, July 28th. The shares were sold at an average price of $65.00, for a total value of $487,500.00. Following the sale, the executive vice president now owns 58,383 shares of the company’s stock, valued at approximately $3,794,895. The disclosure for this sale can be found here. 0.64% of the stock is owned by company insiders.
Large investors have recently made changes to their positions in the stock. Emerald Acquisition Ltd. bought a new stake in shares of State Street Corp. during the second quarter worth approximately $223,563,000. Evercore Trust Company N.A. bought a new stake in shares of State Street Corp. during the second quarter worth approximately $152,044,000. OMERS ADMINISTRATION Corp bought a new stake in shares of State Street Corp. during the second quarter worth approximately $56,266,000. American Century Companies Inc. increased its stake in shares of State Street Corp. by 47.8% in the second quarter. American Century Companies Inc. now owns 2,976,398 shares of the company’s stock worth $160,487,000 after buying an additional 962,464 shares during the period. Finally, Bank of Montreal Can bought a new stake in shares of State Street Corp. during the second quarter worth approximately $30,639,000. Institutional investors own 86.03% of the company’s stock.
About State Street Corp.
State Street Corporation, the parent company, is a financial holding company. The parent company provides financial and managerial support to its legal and operating subsidiaries. The Company, through its subsidiary, State Street Bank, provides a range of financial services and products to institutional investors across the world.
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