State Street Corporation (STT) Receiving Somewhat Positive Media Coverage, Study Finds
Media coverage about State Street Corporation (NYSE:STT) has been trending somewhat positive recently, according to Accern Sentiment Analysis. The research group identifies positive and negative media coverage by analyzing more than 20 million blog and news sources in real time. 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 0.11 on Accern’s scale. Accern also gave news stories about the asset manager an impact score of 45.636838590695 out of 100, meaning that recent media coverage is somewhat unlikely to have an effect on the stock’s share price in the near term.
Here are some of the news stories that may have effected Accern’s analysis:
- State Street Corporation (STT) Insider Sells $296,448.00 in Stock (americanbankingnews.com)
- Insider Selling: State Street Corporation (STT) Chairman Sells 25,000 Shares of Stock (americanbankingnews.com)
- State Street Global Chief Information Officer to Speak at Citi’s 2017 … – Business Wire (press release) (businesswire.com)
- State Street Global Chief Information Officer to Speak at Citi’s 2017 Financial Technology Conference (finance.yahoo.com)
- The Top 5 British Petroleum Shareholders (BP) (finance.yahoo.com)
State Street Corporation (NYSE:STT) opened at $92.53 on Friday. The company has a quick ratio of 0.48, a current ratio of 0.48 and a debt-to-equity ratio of 0.61. State Street Corporation has a 52 week low of $69.73 and a 52 week high of $99.99. The company has a market capitalization of $34,313.55, a P/E ratio of 15.24, a price-to-earnings-growth ratio of 1.58 and a beta of 1.36.
State Street Corporation (NYSE:STT) last issued its earnings results on Monday, October 23rd. The asset manager reported $1.71 EPS for the quarter, beating the Zacks’ consensus estimate of $1.61 by $0.10. State Street Corporation had a return on equity of 13.03% and a net margin of 20.56%. The company had revenue of $2.97 billion during the quarter, compared to the consensus estimate of $2.94 billion. During the same period in the previous year, the firm posted $1.35 earnings per share. State Street Corporation’s quarterly revenue was up 7.7% compared to the same quarter last year. equities research analysts predict that State Street Corporation will post 6.25 EPS for the current year.
STT has been the topic of a number of research analyst reports. Zacks Investment Research cut State Street Corporation from a “buy” rating to a “hold” rating in a report on Tuesday, August 29th. Citigroup Inc. reissued a “neutral” rating and issued a $102.00 price objective (up from $88.00) on shares of State Street Corporation in a research report on Monday, October 9th. Keefe, Bruyette & Woods set a $93.00 price objective on State Street Corporation and gave the company a “hold” rating in a research report on Monday, August 28th. Barclays PLC raised their price objective on State Street Corporation from $95.00 to $104.00 and gave the company an “overweight” rating in a research report on Thursday, July 27th. Finally, Morgan Stanley raised their price objective on State Street Corporation from $90.00 to $105.00 and gave the company an “equal weight” rating in a research report on Tuesday, October 24th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating, four have given a buy rating and two have given a strong buy rating to the company’s stock. The stock has an average rating of “Hold” and an average target price of $97.07.
In other State Street Corporation news, insider Andrew Erickson sold 353 shares of the company’s stock in a transaction that occurred on Wednesday, August 16th. The stock was sold at an average price of $93.01, for a total value of $32,832.53. Following the completion of the sale, the insider now directly owns 21,170 shares in the company, valued at $1,969,021.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Chairman Joseph L. Hooley sold 25,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 1st. The stock was sold at an average price of $92.60, for a total value of $2,315,000.00. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 32,014 shares of company stock valued at $2,964,933. Insiders own 0.71% 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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