State Street (STT) Earning Somewhat Favorable Press Coverage, Report Finds

Media stories about State Street (NYSE:STT) have been trending somewhat positive recently, according to Accern. The research firm identifies negative and positive media coverage by analyzing more than twenty million news and blog sources in real-time. Accern ranks coverage of companies on a scale of negative one to positive one, with scores closest to one being the most favorable. State Street earned a news impact score of 0.19 on Accern’s scale. Accern also assigned news headlines about the asset manager an impact score of 46.9451280002106 out of 100, indicating that recent media coverage is somewhat unlikely to have an impact on the stock’s share price in the next few days.

Here are some of the headlines that may have effected Accern Sentiment’s rankings:

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STT traded down $4.52 during trading on Friday, reaching $99.66. 3,952,090 shares of the stock were exchanged, compared to its average volume of 1,830,197. The company has a market cap of $37,287.39, a price-to-earnings ratio of 16.72, a PEG ratio of 1.32 and a beta of 1.31. State Street has a twelve month low of $77.41 and a twelve month high of $114.27. The company has a current ratio of 0.49, a quick ratio of 0.49 and a debt-to-equity ratio of 0.61.

State Street (NYSE:STT) last issued its earnings results on Friday, April 20th. The asset manager reported $1.62 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.59 by $0.03. The business had revenue of $3.02 billion for the quarter, compared to the consensus estimate of $3 billion. State Street had a net margin of 17.94% and a return on equity of 13.41%. The firm’s revenue for the quarter was up 13.2% on a year-over-year basis. During the same period in the previous year, the company earned $1.21 earnings per share. research analysts forecast that State Street will post 7.67 earnings per share for the current year.

The company also recently announced a quarterly dividend, which was paid on Monday, April 16th. Investors of record on Monday, April 2nd were issued a dividend of $0.42 per share. The ex-dividend date of this dividend was Thursday, March 29th. This represents a $1.68 dividend on an annualized basis and a yield of 1.69%. State Street’s payout ratio is 28.19%.

A number of research analysts have weighed in on the stock. Morgan Stanley lifted their price target on shares of State Street from $105.00 to $114.00 and gave the company an “equal weight” rating in a research note on Thursday, January 25th. Sandler O’Neill reiterated a “hold” rating and issued a $104.00 price objective on shares of State Street in a report on Monday, April 9th. Keefe, Bruyette & Woods set a $115.00 price objective on shares of State Street and gave the company a “buy” rating in a report on Wednesday, April 4th. ValuEngine upgraded shares of State Street from a “hold” rating to a “buy” rating in a report on Friday, February 2nd. Finally, Vining Sparks reiterated a “buy” rating and issued a $120.00 price objective on shares of State Street in a report on Monday, January 8th. Seven investment analysts have rated the stock with a hold rating, eight have issued a buy rating and two have assigned a strong buy rating to the stock. The company currently has an average rating of “Buy” and a consensus target price of $111.33.

In related news, insider Jeff D. Conway sold 747 shares of the business’s stock in a transaction on Friday, February 16th. The shares were sold at an average price of $103.07, for a total transaction of $76,993.29. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Joseph L. Hooley sold 33,568 shares of the business’s stock in a transaction on Friday, February 16th. The stock was sold at an average price of $102.65, for a total transaction of $3,445,755.20. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 49,531 shares of company stock worth $5,146,169. 0.40% of the stock is 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.

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

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