Equities research analysts forecast that State Street Corp (NYSE:STT) will report sales of $2.96 billion for the current fiscal quarter, Zacks Investment Research reports. Three analysts have provided estimates for State Street’s earnings, with estimates ranging from $2.89 billion to $3.08 billion. State Street reported sales of $3.02 billion in the same quarter last year, which would suggest a negative year-over-year growth rate of 2%. The company is expected to issue its next quarterly earnings report on Friday, April 19th.

According to Zacks, analysts expect that State Street will report full year sales of $12.06 billion for the current fiscal year, with estimates ranging from $11.82 billion to $12.51 billion. For the next fiscal year, analysts expect that the firm will post sales of $12.44 billion, with estimates ranging from $12.18 billion to $12.94 billion. Zacks’ sales averages are a mean average based on a survey of research analysts that follow State Street.

State Street (NYSE:STT) last posted its quarterly earnings results on Friday, January 18th. The asset manager reported $1.68 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.67 by $0.01. State Street had a return on equity of 14.44% and a net margin of 20.05%. The business had revenue of $2.99 billion for the quarter, compared to analyst estimates of $2.96 billion. During the same period last year, the company earned $1.61 EPS. State Street’s revenue for the quarter was up 4.9% compared to the same quarter last year.

Several research firms recently issued reports on STT. Zacks Investment Research lowered State Street from a “hold” rating to a “sell” rating in a research report on Wednesday, November 28th. ValuEngine cut State Street from a “sell” rating to a “strong sell” rating in a report on Friday, March 1st. Keefe, Bruyette & Woods cut State Street from a “market perform” rating to an “underperform” rating and dropped their price objective for the stock from $72.00 to $70.00 in a report on Sunday, February 24th. Wells Fargo & Co cut State Street from an “outperform” rating to a “market perform” rating in a report on Tuesday, January 22nd. Finally, Goldman Sachs Group cut State Street from a “buy” rating to a “neutral” rating and set a $71.30 price objective for the company. in a report on Tuesday, January 22nd. Two research analysts have rated the stock with a sell rating, nine have given a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $87.24.

STT opened at $69.47 on Tuesday. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.53 and a current ratio of 0.53. State Street has a 1 year low of $57.87 and a 1 year high of $108.41. The company has a market cap of $26.48 billion, a P/E ratio of 9.62, a P/E/G ratio of 1.16 and a beta of 1.39.

The company also recently announced a quarterly dividend, which will be paid on Monday, April 15th. Stockholders of record on Monday, April 1st will be paid a $0.47 dividend. This represents a $1.88 dividend on an annualized basis and a dividend yield of 2.71%. The ex-dividend date is Friday, March 29th. State Street’s payout ratio is presently 26.04%.

In other news, EVP Andrew P. Kuritzkes sold 13,339 shares of the firm’s stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $72.10, for a total value of $961,741.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Hanley Ronald P. O sold 27,500 shares of the firm’s stock in a transaction that occurred on Thursday, February 28th. The shares were sold at an average price of $71.82, for a total value of $1,975,050.00. Following the completion of the transaction, the chief executive officer now owns 60,479 shares of the company’s stock, valued at approximately $4,343,601.78. The disclosure for this sale can be found here. In the last 90 days, insiders sold 74,389 shares of company stock valued at $5,300,338. 0.40% of the stock is currently owned by company insiders.

Several institutional investors and hedge funds have recently added to or reduced their stakes in STT. Pearl River Capital LLC purchased a new position in shares of State Street in the 4th quarter valued at approximately $25,000. Certified Advisory Corp lifted its stake in shares of State Street by 125.0% in the 4th quarter. Certified Advisory Corp now owns 450 shares of the asset manager’s stock valued at $28,000 after purchasing an additional 250 shares during the period. Strategic Wealth Partners Ltd. lifted its stake in shares of State Street by 1,038.7% in the 3rd quarter. Strategic Wealth Partners Ltd. now owns 353 shares of the asset manager’s stock valued at $30,000 after purchasing an additional 322 shares during the period. Moody National Bank Trust Division lifted its stake in shares of State Street by 199.4% in the 4th quarter. Moody National Bank Trust Division now owns 470 shares of the asset manager’s stock valued at $30,000 after purchasing an additional 313 shares during the period. Finally, Magellan Asset Management Ltd lifted its stake in shares of State Street by 80.1% in the 4th quarter. Magellan Asset Management Ltd now owns 526 shares of the asset manager’s stock valued at $33,000 after purchasing an additional 234 shares during the period. Institutional investors own 86.78% of the company’s stock.

About State Street

State Street Corporation, through its subsidiaries, provides a range of financial products and services to institutional investors worldwide. It 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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