Press coverage about State Street Corporation (NYSE:STT) has trended somewhat positive on Wednesday, Accern Sentiment Analysis reports. Accern identifies negative and positive news coverage by analyzing more than 20 million news and blog sources in real time. Accern ranks coverage of public companies on a scale of negative one to one, with scores closest to one being the most favorable. State Street Corporation earned a media sentiment score of 0.14 on Accern’s scale. Accern also assigned news headlines about the asset manager an impact score of 46.1297141829436 out of 100, meaning that recent news coverage is somewhat unlikely to have an effect on the stock’s share price in the next few days.
These are some of the headlines that may have impacted Accern Sentiment Analysis’s analysis:
- Wells Fargo & Company Initiates Coverage on State Street Corporation (NYSE:STT) (americanbankingnews.com)
- MOVES- State Street Global Advisors, Sanlam UK, JMI Equity (STT) – Markets Insider (markets.businessinsider.com)
- With $1 Trillion Waiting for Deals, Investors Make Do With ETFs (finance.yahoo.com)
- Why BlackRock Continues to Command Premium Valuations (finance.yahoo.com)
- Zacks: Analysts Anticipate State Street Corporation (NYSE:STT) to Post $1.58 EPS (americanbankingnews.com)
State Street Corporation (STT) traded down 0.07% during trading on Wednesday, hitting $94.28. 2,138,439 shares of the stock were exchanged. The stock has a market cap of $35.27 billion, a P/E ratio of 17.41 and a beta of 1.30. The stock has a 50 day moving average of $91.14 and a 200-day moving average of $83.10. State Street Corporation has a 52 week low of $67.45 and a 52 week high of $96.26.
State Street Corporation (NYSE:STT) last announced its earnings results on Wednesday, July 26th. The asset manager reported $1.67 earnings per share for the quarter, beating analysts’ consensus estimates of $1.57 by $0.10. The firm had revenue of $2.81 billion for the quarter, compared to analyst estimates of $2.86 billion. State Street Corporation had a net margin of 19.97% and a return on equity of 12.49%. The company’s revenue for the quarter was up 9.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.46 EPS. Equities analysts expect that State Street Corporation will post $6.15 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Monday, October 16th. Stockholders of record on Monday, October 2nd will be paid a dividend of $0.42 per share. 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. This represents a $1.68 dividend on an annualized basis and a dividend yield of 1.78%. State Street Corporation’s payout ratio is presently 28.15%.
State Street Corporation announced that its Board of Directors has authorized a share repurchase plan on Wednesday, June 28th that authorizes the company to buyback $1.40 billion in outstanding shares. This buyback authorization authorizes the asset manager to reacquire up to 4.2% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s management believes its stock is undervalued.
Several analysts recently weighed in on the stock. UBS AG raised shares of State Street Corporation from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $86.00 to $92.00 in a research note on Monday, June 5th. Keefe, Bruyette & Woods set a $88.00 price objective on shares of State Street Corporation and gave the stock a “hold” rating in a research note on Saturday, July 1st. Wells Fargo & Company assumed coverage on shares of State Street Corporation in a research note on Wednesday. They issued an “outperform” rating on the stock. Zacks Investment Research raised shares of State Street Corporation from a “hold” rating to a “buy” rating and set a $102.00 price objective on the stock in a research note on Tuesday, July 11th. Finally, Jefferies Group LLC reissued a “hold” rating and issued a $87.00 price objective on shares of State Street Corporation in a research note on Monday, June 19th. Three equities research analysts have rated the stock with a sell rating, ten have given a hold rating, four have assigned a buy rating and two have assigned a strong buy rating to the company. State Street Corporation has an average rating of “Hold” and an average target price of $88.63.
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In other news, Chairman Joseph L. Hooley sold 5,666 shares of State Street Corporation stock in a transaction dated Tuesday, June 13th. The shares were sold at an average price of $87.88, for a total transaction of $497,928.08. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider George E. Sullivan sold 2,718 shares of State Street Corporation stock in a transaction dated Tuesday, May 16th. The shares were sold at an average price of $81.81, for a total transaction of $222,359.58. Following the sale, the insider now directly owns 73,090 shares in the company, valued at approximately $5,979,492.90. The disclosure for this sale can be found here. Insiders have sold a total of 16,069 shares of company stock worth $1,422,969 in the last ninety days. Insiders own 0.64% of the company’s stock.
State Street Corporation 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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