State Street (NYSE:STT) Announces Quarterly Earnings Results

State Street (NYSE:STT – Get Rating) posted its quarterly earnings data on Friday. The asset manager reported $2.07 EPS for the quarter, beating analysts’ consensus estimates of $2.00 by $0.07, reports. State Street had a net margin of 22.48% and a return on equity of 11.72%. The company had revenue of $3.16 billion during the quarter, compared to analyst estimates of $3.06 billion.

State Street Price Performance

STT traded up $3.76 during trading on Friday, hitting $84.28. The company’s stock had a trading volume of 4,790,157 shares, compared to its average volume of 2,180,675. The company has a quick ratio of 0.54, a current ratio of 0.54 and a debt-to-equity ratio of 0.59. The stock has a market capitalization of $30.93 billion, a price-to-earnings ratio of 11.72, a price-to-earnings-growth ratio of 1.42 and a beta of 1.57. The firm’s 50 day moving average price is $78.70 and its two-hundred day moving average price is $72.22. State Street has a 12 month low of $58.62 and a 12 month high of $103.76.

State Street Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, January 13th. Investors of record on Tuesday, January 3rd were given a dividend of $0.63 per share. The ex-dividend date was Friday, December 30th. This represents a $2.52 dividend on an annualized basis and a yield of 2.99%. State Street’s dividend payout ratio (DPR) is presently 35.05%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in STT. Vanguard Group Inc. raised its stake in shares of State Street by 0.4% in the first quarter. Vanguard Group Inc. now owns 34,410,077 shares of the asset manager’s stock worth $2,997,806,000 after acquiring an additional 146,048 shares during the last quarter. State Street Corp increased its holdings in shares of State Street by 7.9% in the third quarter. State Street Corp now owns 18,758,945 shares of the asset manager’s stock valued at $1,152,445,000 after purchasing an additional 1,365,681 shares in the last quarter. Cooke & Bieler LP raised its position in State Street by 37.6% in the 2nd quarter. Cooke & Bieler LP now owns 4,095,509 shares of the asset manager’s stock worth $252,489,000 after purchasing an additional 1,118,713 shares during the last quarter. LSV Asset Management raised its position in State Street by 0.8% in the 3rd quarter. LSV Asset Management now owns 3,608,913 shares of the asset manager’s stock worth $219,458,000 after purchasing an additional 29,500 shares during the last quarter. Finally, Nordea Investment Management AB lifted its holdings in State Street by 5.5% during the 2nd quarter. Nordea Investment Management AB now owns 3,572,222 shares of the asset manager’s stock worth $216,905,000 after buying an additional 185,913 shares in the last quarter. Institutional investors and hedge funds own 88.41% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently issued reports on the stock. Deutsche Bank Aktiengesellschaft increased their price target on shares of State Street from $82.00 to $85.00 in a research report on Wednesday, January 11th. Bank of America initiated coverage on shares of State Street in a research note on Thursday, January 12th. They set a “neutral” rating and a $86.00 target price for the company. Morgan Stanley lowered State Street from an “overweight” rating to an “equal weight” rating in a report on Tuesday, December 6th. StockNews.com began coverage on State Street in a research note on Wednesday, October 12th. They issued a “hold” rating on the stock. Finally, Wells Fargo & Company raised their price target on State Street to $86.00 in a research note on Monday, December 12th. Ten investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, State Street has an average rating of “Hold” and a consensus price target of $87.61.

About State Street

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State Street Corp. operates as a financial holding company. It conducts business primarily through State Street Bank. The firm operates through following business lines: Investment Servicing and Investment Management. The Investment Servicing business offers custody, product and participant-level accounting, daily pricing and administration, master trust and master custody, 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, and performance, risk and compliance analytics.