Somewhat Positive News Coverage Somewhat Unlikely to Affect State Street (STT) Stock Price

Media coverage about State Street (NYSE:STT) has trended somewhat positive this week, Accern reports. The research firm rates the sentiment of news coverage by monitoring more than twenty million blog and news sources in real time. Accern ranks coverage of publicly-traded companies on a scale of -1 to 1, with scores closest to one being the most favorable. State Street earned a daily sentiment score of 0.17 on Accern’s scale. Accern also assigned media stories about the asset manager an impact score of 46.1087435635693 out of 100, meaning that recent news coverage is somewhat unlikely to have an impact on the company’s share price in the next several days.

These are some of the news articles that may have impacted Accern’s analysis:

Shares of State Street (NYSE STT) traded down $0.79 during trading hours on Wednesday, hitting $97.08. 1,517,854 shares of the company were exchanged, compared to its average volume of 1,961,976. The company has a current ratio of 0.48, a quick ratio of 0.48 and a debt-to-equity ratio of 0.61. The company has a market capitalization of $36,419.87, a price-to-earnings ratio of 16.18, a PEG ratio of 1.67 and a beta of 1.35. State Street has a fifty-two week low of $74.45 and a fifty-two week high of $100.90.

State Street (NYSE:STT) last released its quarterly earnings data on Monday, October 23rd. The asset manager reported $1.71 EPS for the quarter, topping analysts’ consensus estimates of $1.61 by $0.10. The firm had revenue of $2.97 billion during the quarter, compared to the consensus estimate of $2.94 billion. State Street had a net margin of 20.56% and a return on equity of 13.03%. The firm’s revenue was up 7.7% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.35 earnings per share. analysts forecast that State Street will post 6.25 earnings per share 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 issued a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a yield of 1.73%. The ex-dividend date is Friday, December 29th. State Street’s dividend payout ratio is presently 29.12%.

Several equities research analysts recently issued reports on the stock. Zacks Investment Research cut shares of State Street from a “buy” rating to a “hold” rating in a research report on Thursday, October 12th. Citigroup reaffirmed a “neutral” rating and set a $102.00 price target (up from $88.00) on shares of State Street in a research report on Monday, October 9th. Keefe, Bruyette & Woods raised shares of State Street from a “market perform” rating to an “outperform” rating and set a $110.00 price target on the stock in a research report on Tuesday, December 12th. Morgan Stanley lifted their price target on shares of State Street from $90.00 to $105.00 and gave the company an “equal weight” rating in a research report on Tuesday, October 24th. Finally, Royal Bank of Canada reduced their price target on shares of State Street from $104.00 to $95.00 and set a “sector perform” rating on the stock in a research report on Tuesday, October 24th. One research analyst has rated the stock with a sell rating, ten have given a hold rating, five have assigned a buy rating and two have given a strong buy rating to the company. State Street has an average rating of “Hold” and a consensus target price of $97.60.

In other State Street news, Chairman Joseph L. Hooley sold 25,000 shares of the business’s stock in a transaction dated Wednesday, November 1st. The stock was 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 SEC, which is available at this hyperlink. Also, insider Hannah M. Grove sold 3,200 shares of the business’s stock in a transaction dated Thursday, November 2nd. The stock was sold at an average price of $92.64, for a total value of $296,448.00. The disclosure for this sale can be found here. In the last ninety days, insiders sold 28,724 shares of company stock valued at $2,659,741. 0.71% of the stock is currently owned by corporate insiders.

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State Street Company Profile

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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