Wall Street analysts predict that State Street Corp (NYSE:STT) will report sales of $3.01 billion for the current fiscal quarter, according to Zacks. Four analysts have provided estimates for State Street’s earnings, with estimates ranging from $2.99 billion to $3.02 billion. State Street reported sales of $2.85 billion during the same quarter last year, which indicates a positive year-over-year growth rate of 5.6%. The company is scheduled to issue its next earnings report before the market opens on Friday, October 19th.

According to Zacks, analysts expect that State Street will report full year sales of $12.18 billion for the current fiscal year, with estimates ranging from $12.12 billion to $12.31 billion. For the next financial year, analysts expect that the company will post sales of $12.83 billion, with estimates ranging from $12.56 billion to $13.19 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of research analysts that cover State Street.

State Street (NYSE:STT) last issued its earnings results on Friday, July 20th. The asset manager reported $1.88 earnings per share for the quarter, missing the Zacks’ consensus estimate of $2.01 by ($0.13). The business had revenue of $3.03 billion for the quarter, compared to the consensus estimate of $3.05 billion. State Street had a return on equity of 14.98% and a net margin of 19.56%. The company’s quarterly revenue was up 7.7% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.67 earnings per share.

A number of analysts recently weighed in on the stock. Morgan Stanley reduced their target price on shares of State Street from $117.00 to $113.00 and set an “equal weight” rating for the company in a report on Monday, July 2nd. Jefferies Financial Group restated a “hold” rating and set a $91.00 target price on shares of State Street in a report on Tuesday, July 24th. ValuEngine cut shares of State Street from a “hold” rating to a “sell” rating in a report on Monday, July 2nd. Keefe, Bruyette & Woods restated a “market perform” rating on shares of State Street in a report on Friday, August 3rd. Finally, Credit Suisse Group reduced their target price on shares of State Street from $110.00 to $103.00 and set a “$87.02” rating for the company in a report on Monday, July 23rd. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and eight have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $105.07.

NYSE:STT traded down $0.27 during trading hours on Friday, reaching $81.46. 3,073,693 shares of the company’s stock were exchanged, compared to its average volume of 2,080,244. The stock has a market capitalization of $30.65 billion, a price-to-earnings ratio of 13.67, a PEG ratio of 1.00 and a beta of 1.22. State Street has a 12 month low of $79.99 and a 12 month high of $114.27. The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.52 and a current ratio of 0.52.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 15th. Investors of record on Monday, October 1st will be paid a $0.47 dividend. This is a positive change from State Street’s previous quarterly dividend of $0.42. The ex-dividend date of this dividend is Friday, September 28th. This represents a $1.88 dividend on an annualized basis and a yield of 2.31%. State Street’s dividend payout ratio (DPR) is currently 31.54%.

In related news, EVP George E. Sullivan sold 1,611 shares of the firm’s stock in a transaction that occurred on Thursday, August 16th. The shares were sold at an average price of $83.18, for a total value of $134,002.98. Following the completion of the transaction, the executive vice president now owns 58,847 shares of the company’s stock, valued at approximately $4,894,893.46. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Jeff D. Conway sold 343 shares of the firm’s stock in a transaction that occurred on Thursday, August 16th. The stock was sold at an average price of $83.16, for a total transaction of $28,523.88. The disclosure for this sale can be found here. Insiders sold a total of 26,954 shares of company stock valued at $2,237,777 in the last ninety days. Company insiders own 0.40% of the company’s stock.

A number of institutional investors have recently bought and sold shares of the stock. Bay Colony Advisory Group Inc d b a Bay Colony Advisors purchased a new stake in State Street in the 2nd quarter worth approximately $109,000. Delta Asset Management LLC TN purchased a new stake in State Street in the 2nd quarter worth approximately $142,000. Ostrum Asset Management bought a new position in shares of State Street during the 1st quarter valued at $174,000. Private Capital Group LLC raised its holdings in shares of State Street by 2,270.9% during the 1st quarter. Private Capital Group LLC now owns 1,873 shares of the asset manager’s stock valued at $188,000 after purchasing an additional 1,794 shares in the last quarter. Finally, Financial Gravity Wealth Inc. bought a new position in shares of State Street during the 1st quarter valued at $193,000. 86.73% of the stock is owned by hedge funds and other institutional investors.

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; product and participant level 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; 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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