State Street (STT) Receiving Somewhat Favorable Media Coverage, Analysis Shows

Media stories about State Street (NYSE:STT) have trended somewhat positive this week, Accern Sentiment reports. The research group scores the sentiment of press coverage by analyzing more than 20 million news and blog sources in real-time. Accern ranks coverage of companies on a scale of -1 to 1, with scores nearest to one being the most favorable. State Street earned a news sentiment score of 0.19 on Accern’s scale. Accern also gave media headlines about the asset manager an impact score of 46.244498150244 out of 100, meaning that recent press coverage is somewhat unlikely to have an effect on the company’s share price in the near future.

These are some of the news stories that may have effected Accern Sentiment’s scoring:

STT has been the subject of a number of recent research reports. Zacks Investment Research downgraded shares of State Street from a “buy” rating to a “hold” rating in a report on Tuesday, August 29th. Citigroup reiterated a “neutral” rating and set a $102.00 price target (up from $88.00) on shares of State Street in a report on Monday, October 9th. Keefe, Bruyette & Woods set a $93.00 price target on shares of State Street and gave the stock a “hold” rating in a report on Monday, August 28th. Finally, Morgan Stanley lifted their price target on shares of State Street from $90.00 to $105.00 and gave the stock an “equal weight” rating in a report on Tuesday, October 24th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating, five have issued a buy rating and two have assigned a strong buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $97.60.

State Street (NYSE STT) traded up $0.56 during trading on Friday, reaching $98.53. 2,726,095 shares of the company were exchanged, compared to its average volume of 1,735,793. State Street has a 52-week low of $74.45 and a 52-week high of $100.90. The stock has a market capitalization of $36,330.87, a P/E ratio of 16.14, a price-to-earnings-growth ratio of 1.67 and a beta of 1.35. The company has a current ratio of 0.48, a quick ratio of 0.48 and a debt-to-equity ratio of 0.61.

State Street (NYSE:STT) last released its quarterly earnings data on Monday, October 23rd. The asset manager reported $1.71 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.61 by $0.10. State Street had a net margin of 20.56% and a return on equity of 13.03%. The company had revenue of $2.97 billion during the quarter, compared to the consensus estimate of $2.94 billion. During the same period in the previous year, the firm earned $1.35 earnings per share. State Street’s revenue for the quarter was up 7.7% on a year-over-year basis. analysts anticipate that State Street will post 6.25 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 17th. Shareholders of record on Tuesday, January 2nd will be paid a dividend of $0.42 per share. The ex-dividend date is Friday, December 29th. This represents a $1.68 annualized dividend and a yield of 1.71%. State Street’s dividend payout ratio is currently 29.12%.

In other State Street news, Chairman Joseph L. Hooley sold 25,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 1st. The shares were sold at an average price of $92.60, for a total transaction of $2,315,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Hannah M. Grove sold 3,200 shares of the business’s stock in a transaction that occurred on Thursday, November 2nd. The stock was sold at an average price of $92.64, for a total transaction of $296,448.00. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 28,724 shares of company stock valued at $2,659,741. 0.71% of the stock is owned by insiders.

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About State Street

State Street Corporation is a financial holding company. The Company operates through two lines of business: Investment Servicing and Investment Management. The Company, through its subsidiary, State Street Bank and Trust Company (State Street Bank), provides a range of financial products and services to institutional investors across the world.

Insider Buying and Selling by Quarter for State Street (NYSE:STT)

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