News coverage about State Street Corporation (NYSE:STT) has been trending somewhat positive on Saturday, Accern Sentiment reports. Accern ranks the sentiment of news coverage by analyzing more than 20 million news and blog sources. Accern ranks coverage of publicly-traded companies on a scale of negative one to one, with scores nearest to one being the most favorable. State Street Corporation earned a media sentiment score of 0.10 on Accern’s scale. Accern also gave news coverage about the asset manager an impact score of 45.9131831566234 out of 100, meaning that recent news coverage is somewhat unlikely to have an impact on the company’s share price in the near future.
Here are some of the news articles that may have effected Accern Sentiment’s analysis:
- State Street Global Advisors Announces Net Asset Value Impacts to SPDR ETFs (finance.yahoo.com)
- State Street Global Advisors : Announces Annual Rebalancing of the SSGA Gender Diversity Index, Adds 61 New Companies to Index (4-traders.com)
- State Street Global Advisors Announces Annual Rebalancing of the SSGA Gender Diversity Index, Adds 61 New Companies to Index (finance.yahoo.com)
- State Street Corporation (STT) Insider Andrew Erickson Sells 353 Shares (americanbankingnews.com)
- Sean P. Newth Sells 261 Shares of State Street Corporation (STT) Stock (americanbankingnews.com)
State Street Corporation (NYSE STT) traded up 0.69% on Friday, reaching $92.42. 1,916,334 shares of the company’s stock traded hands. The firm’s 50-day moving average is $92.42 and its 200 day moving average is $84.16. The firm has a market cap of $34.56 billion, a PE ratio of 17.06 and a beta of 1.30. State Street Corporation has a 12 month low of $68.16 and a 12 month high of $96.26.
State Street Corporation (NYSE:STT) last released its quarterly earnings results on Wednesday, July 26th. The asset manager reported $1.67 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.57 by $0.10. The firm had revenue of $2.81 billion during the quarter, compared to analyst estimates of $2.86 billion. State Street Corporation had a return on equity of 12.49% and a net margin of 19.97%. The business’s revenue for the quarter was up 9.2% compared to the same quarter last year. During the same period in the previous year, the company posted $1.46 EPS. Equities analysts predict that State Street Corporation will post $6.15 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Monday, October 16th. Stockholders of record on Monday, October 2nd will be given a $0.42 dividend. This represents a $1.68 annualized dividend and a dividend yield of 1.82%. This is a positive change from State Street Corporation’s previous quarterly dividend of $0.38. The ex-dividend date of this dividend is Friday, September 29th. State Street Corporation’s payout ratio is presently 28.15%.
State Street Corporation declared that its Board of Directors has initiated a stock buyback plan on Wednesday, June 28th that allows the company to buyback $1.40 billion in outstanding shares. This buyback authorization allows the asset manager to purchase up to 4.2% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s board of directors believes its stock is undervalued.
A number of research firms recently commented on STT. Zacks Investment Research raised shares of State Street Corporation from a “hold” rating to a “buy” rating and set a $104.00 price target on the stock in a research report on Thursday, July 27th. Wells Fargo & Company began coverage on shares of State Street Corporation in a research report on Wednesday, August 9th. They set an “outperform” rating and a $115.00 price target on the stock. Barclays PLC increased their price objective on shares of State Street Corporation from $95.00 to $104.00 and gave the stock an “overweight” rating in a research note on Thursday, July 27th. Buckingham Research reiterated a “buy” rating and set a $107.00 price objective (up from $94.00) on shares of State Street Corporation in a research note on Monday, July 10th. Finally, Keefe, Bruyette & Woods reiterated an “underweight” rating on shares of State Street Corporation in a research note on Thursday, July 13th. Three research analysts have rated the stock with a sell rating, ten have given a hold rating, four have issued a buy rating and two have assigned a strong buy rating to the company’s stock. State Street Corporation has a consensus rating of “Hold” and a consensus price target of $90.18.
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In related news, EVP Jeffrey N. Carp sold 2,656 shares of the company’s stock in a transaction dated Tuesday, June 13th. The stock was sold at an average price of $87.88, for a total transaction of $233,409.28. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Chairman Joseph L. Hooley sold 5,666 shares of the company’s stock in a transaction dated Tuesday, June 13th. The shares were sold at an average price of $87.88, for a total value of $497,928.08. The disclosure for this sale can be found here. Insiders have sold a total of 17,136 shares of company stock worth $1,551,722 over the last ninety days. 0.64% of the stock is currently owned by corporate insiders.
About State Street Corporation
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.
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