News headlines about State Street (NYSE:STT) have trended somewhat positive on Friday, according to Accern Sentiment Analysis. The research group ranks the sentiment of news coverage by reviewing more than 20 million blog and news 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 sentiment score of 0.25 on Accern’s scale. Accern also assigned headlines about the asset manager an impact score of 46.0025580675679 out of 100, indicating that recent news coverage is somewhat unlikely to have an effect on the stock’s share price in the immediate future.
Here are some of the news articles that may have effected Accern Sentiment Analysis’s rankings:
- State Street (STT) Upgraded at Citigroup (americanbankingnews.com)
- ‘Fiscal Stimulus May Lead The Fed To Be More Aggressive In 2019,’ Said State Street Over The U.S. Open Market Committee (seekingalpha.com)
- State Street Corp (STT) Expected to Announce Earnings of $1.56 Per Share (americanbankingnews.com)
- State Street Global Advisors Announces Impact of Receiving Payment (finance.yahoo.com)
- State Street promotes Gallagher as it launches MPS to intermediary market (professionaladviser.com)
A number of equities research analysts have recently weighed in on STT shares. Keefe, Bruyette & Woods raised State Street from a “market perform” rating to an “outperform” rating and set a $110.00 target price for the company in a report on Tuesday, December 12th. Barclays boosted their price target on State Street from $104.00 to $120.00 and gave the stock an “overweight” rating in a report on Tuesday, January 2nd. Zacks Investment Research cut State Street from a “buy” rating to a “hold” rating and set a $109.00 target price on the stock. in a report on Friday, January 5th. Vining Sparks restated a “buy” rating and set a $120.00 price target on shares of State Street in a report on Monday, January 8th. Finally, Jefferies Group reaffirmed a “hold” rating and set a $107.00 target price on shares of State Street in a research report on Tuesday, January 9th. Five research analysts have rated the stock with a hold rating, nine have assigned a buy rating and two have issued a strong buy rating to the stock. State Street presently has an average rating of “Buy” and a consensus price target of $110.21.
State Street (NYSE:STT) last released its quarterly earnings results on Tuesday, January 23rd. The asset manager reported $1.61 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.71 by ($0.10). State Street had a net margin of 17.94% and a return on equity of 13.41%. The firm had revenue of $2.98 billion for the quarter, compared to the consensus estimate of $2.98 billion. During the same quarter in the prior year, the firm earned $1.48 earnings per share. The company’s revenue for the quarter was up 8.5% compared to the same quarter last year. equities analysts expect that State Street will post 7.68 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, April 16th. Investors of record on Monday, April 2nd will be given a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a yield of 1.68%. The ex-dividend date is Thursday, March 29th. State Street’s dividend payout ratio (DPR) is presently 32.12%.
In related news, EVP Andrew P. Kuritzkes sold 10,248 shares of the stock in a transaction that occurred on Wednesday, February 28th. The stock was sold at an average price of $108.17, for a total transaction of $1,108,526.16. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Joseph L. Hooley sold 33,568 shares of the stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $102.65, for a total value of $3,445,755.20. The disclosure for this sale can be found here. In the last quarter, insiders have sold 49,531 shares of company stock valued at $5,146,169. 0.71% of the stock is owned by company 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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