State Street (STT) Declares $0.63 Dividend
State Street said on May 17, 2023 that its board of directors declared a regular quarterly dividend of $0.63 per share ($2.52 annualized). Previously, the company paid $0.63 per share.
Shares must be purchased before the ex-div date of June 30, 2023 to qualify for the dividend. Shareholders of record as of July 3, 2023 will receive the payment on July 13, 2023.
At the current share price of $68.46 / share, the stock's dividend yield is 3.68%.
Looking back five years and taking a sample every week, the average dividend yield has been 2.94%, the lowest has been 1.68%, and the highest has been 4.81%. The standard deviation of yields is 0.55 (n=237).
The current dividend yield is 1.36 standard deviations above the historical average.
Additionally, the company's dividend payout ratio is 0.31. The payout ratio tells us how much of a company's income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company's income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend - not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.
The company's 3-Year dividend growth rate is 0.21%, demonstrating that it has increased its dividend over time.
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What is the Fund Sentiment?
There are 1771 funds or institutions reporting positions in State Street. This is an increase of 31 owner(s) or 1.78% in the last quarter. Average portfolio weight of all funds dedicated to STT is 0.30%, a decrease of 5.26%. Total shares owned by institutions decreased in the last three months by 5.14% to 372,161K shares. 
The put/call ratio of STT is 1.38, indicating a bearish outlook.
Analyst Price Forecast Suggests 26.43% Upside
As of May 11, 2023, the average one-year price target for State Street is 86.55. The forecasts range from a low of 68.68 to a high of $105.00. The average price target represents an increase of 26.43% from its latest reported closing price of 68.46.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for State Street is 12,448MM, an increase of 2.84%. The projected annual non-GAAP EPS is 8.40.
What are Other Shareholders Doing?
Dodge & Cox holds 21,831K shares representing 6.53% ownership of the company. In it's prior filing, the firm reported owning 21,944K shares, representing a decrease of 0.52%. The firm decreased its portfolio allocation in STT by 3.54% over the last quarter.
DODGX - Dodge & Cox Stock Fund holds 15,597K shares representing 4.67% ownership of the company. No change in the last quarter.
Ameriprise Financial holds 12,371K shares representing 3.70% ownership of the company. In it's prior filing, the firm reported owning 11,157K shares, representing an increase of 9.81%. The firm decreased its portfolio allocation in STT by 80.91% over the last quarter.
Invesco holds 9,769K shares representing 2.92% ownership of the company. In it's prior filing, the firm reported owning 10,166K shares, representing a decrease of 4.06%. The firm decreased its portfolio allocation in STT by 91.73% over the last quarter.
Longview Partners holds 7,912K shares representing 2.37% ownership of the company. In it's prior filing, the firm reported owning 7,676K shares, representing an increase of 2.98%. The firm decreased its portfolio allocation in STT by 10.69% over the last quarter.
State Street Background Information
(This description is provided by the company.)
State Street Corporation is one of the world's leading providers of financial services to institutional investors including investment servicing, investment management andinvestment researchand trading. With $33.52 trillion in assets under custody and/or administration and $3.05 trillion* in assets under management as of June 30, 2020, State Street operates globally in more than 100 geographic markets and employs approximately 39,000 worldwide.
Key filings for this company:
This story originally appeared on Fintel.