State Street Corporation, through its subsidiaries, provides a range of financial products and services to institutional investors worldwide. It offers investment servicing products and services, including custody; product accounting; daily pricing and administration; master trust and master custody; depotbank; record-keeping; cash management; foreign exchange, brokerage, and other trading services; securities finance; deposit and short-term investment facilities; loans and lease financing; investment manager and alternative investment manager operations outsourcing; performance, risk, and compliance analytics; and financial data management to support institutional investors. The company also engages in the provision of portfolio management and risk analytics, as well as trading and post-trade settlement services with integrated compliance and managed data throughout. In addition, it provides investment management strategies and products, such as core and enhanced indexing, multi-asset strategies, active quantitative and fundamental active capabilities, and alternative investment strategies. Further, the company offers services and solutions, including environmental, social, and governance investing; defined benefit and defined contribution; and global fiduciary solutions, as well as exchange-traded fund under the SPDR ETF brand. The company provides its products and services to mutual funds, collective investment funds and other investment pools, corporate and public retirement plans, insurance companies, foundations, endowments, and investment managers. State Street Corporation was founded in 1792 and is headquartered in Boston, Massachusetts.
IPO Year:
Exchange: NYSE
Website: statestreet.com
| Date | Price Target | Rating | Analyst |
|---|---|---|---|
| 7/8/2024 | $73.00 | Peer Perform → Underperform | Wolfe Research |
| 1/4/2024 | $81.00 | Neutral → Underperform | BofA Securities |
| 1/3/2024 | $69.00 → $92.00 | Neutral → Buy | Goldman |
| 7/17/2023 | $78.50 → $71.00 | Neutral → Underweight | JP Morgan |
| 7/17/2023 | $90.00 → $72.00 | Buy → Neutral | UBS |
| 7/17/2023 | $84.00 → $73.00 | Outperform → Mkt Perform | Keefe Bruyette |
| 2/27/2023 | $88.00 → $98.00 | Equal Weight → Overweight | Wells Fargo |
| 1/12/2023 | $86.00 | Neutral | BofA Securities |
| 1/4/2023 | $87.00 | Neutral | New Street |
| 12/6/2022 | $86.00 | Overweight → Equal-Weight | Morgan Stanley |
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State Street Corporation (NYSE:STT) today announced a cash dividend on each of the below outstanding series of non-cumulative perpetual preferred stock: Series G (represented by depositary shares, each representing a 1/4000th interest in a share of Series G preferred stock). The cash dividend is in the amount of $1,337.50 per share of Series G preferred stock (resulting in a distribution of approximately $0.334375 per depositary share) and is payable on December 16, 2024 to the holders of record of the Series G preferred stock at the close of business on December 2, 2024. Series I (represented by depositary shares, each representing a 1/100th interest in a share of Series I preferred
State Street Corporation (NYSE:STT) reported its third-quarter 2024 financial results today. The news release, presentation and additional financial information can be accessed on State Street's Investor Relations website, http://investors.statestreet.com. A conference call to discuss the firm's financial results, outlook and related matters will be held at 12:00 p.m. ET today, Tuesday, October 15, 2024. The call will be open to the public. The conference call will be accessible on State Street's Investor Relations website, and by telephone at (+1) 800 717 1738 (Conference ID #26547). Following the conference call, a replay will be available on State Street's Investor Relations website, o
State Street Corporation (NYSE:STT) today announced that Eric Aboaf, vice chairman and chief financial officer (CFO), has made the decision to accept a new opportunity outside of banking and is expected to leave State Street in February of 2025. State Street has commenced its succession plan with a formal internal and external search process and Aboaf will stay on and work closely with the State Street team into February to ensure an orderly transition. "Over the course of the past eight years, Eric has continuously driven significant financial and business performance that has made a meaningful impact for State Street and I have very much enjoyed and valued our partnership," said Ron O'Ha
The SPDR® SSGA MyIncome Suite Provides Active Exposure to Corporate and Municipal Bonds With Defined Maturity Dates Fund lineup consists of nine corporate bond and five municipal bond ETFs Investors can now leverage the potential benefits of actively managed target maturity ETFs to build their own custom bond ladder portfolios Uses a risk-aware, top-down approach combined with bottom-up security selection that seeks to overweight the most attractive sectors and issuers State Street Global Advisors, the asset management business of State Street Corporation (NYSE:STT) today announced the introduction of its SPDR® SSGA MyIncome ETFs – the first actively managed corporate and municipal
State Street Corporation (NYSE:STT) plans to announce its third-quarter 2024 financial results on Tuesday, October 15, 2024 at approximately 7:30 a.m. ET. A conference call to review the firm's financial results will be held at 12:00 p.m. ET. The conference call will be accessible via audio webcast on State Street's Investor Relations website, http://investors.statestreet.com, and by telephone at (+1) 800 717 1738 (Conference ID: 26547). Materials will be available on the website prior to the call. For those unable to listen to the live webcast, a replay will be available on the website or by telephone at (+1) 888 660 6264 (Playback Passcode: 26547#). The replay will be available for ap
State Street Corporation (NYSE:STT) today announced that it will redeem $500 million, or all, of its 5,000 outstanding shares, of non-cumulative perpetual preferred stock, Series H ("Series H Preferred Stock") (represented by 500,000 depositary shares, each representing a 1/100th interest in a share of Series H Preferred Stock) on September 16, 2024 (the "Redemption Date"), for cash at a redemption price of $100,000 per share (equivalent to $1,000 per depositary share) plus all dividends that have been declared but not paid up to but not including the Redemption Date (the "Series H Redemption Price"). As previously announced, (i) a cash dividend of $2,036.16 per share of Series H Preferre
State Street Corporation ("State Street") (NYSE:STT) announced today that it has issued $850 million of depositary shares, each representing a 1/100th ownership interest in a share of its 6.700% Fixed Rate Reset Non-Cumulative Perpetual Preferred Stock, Series J (the "Series J Preferred Stock"), with a liquidation preference of $100,000 per share. The offering, which closed today, was structured in keeping with State Street's ongoing inclusion, diversity, and equity efforts, with Academy Securities, Inc., a veteran-owned and MBE-certified investment bank, and Siebert Williams Shank & Co., LLC, a minority and women owned investment bank, each acting as co-managers on the transaction, repre
State Street Corporation (NYSE:STT) today announced a quarterly cash dividend of $0.76 per share of common stock, payable on October 11, 2024 to common shareholders of record at the close of business on October 1, 2024. The dividend represents a 10% per share increase from the second quarter 2024 dividend of $0.69 per share. Additionally, State Street Corporation announced a cash dividend on each of the below outstanding series of non-cumulative perpetual preferred stock: Series G (represented by depositary shares, each representing a 1/4000th interest in a share of Series G preferred stock). The cash dividend is in the amount of $1,337.50 per share of Series G preferred stock (resulti
State Street Corporation (NYSE:STT) reported its second-quarter 2024 financial results today. The news release, presentation and additional financial information can be accessed on State Street's Investor Relations website, http://investors.statestreet.com. A conference call to discuss the firm's financial results, outlook and related matters will be held at 11:00 a.m. ET today, Tuesday, July 16, 2024. The call will be open to the public. The conference call will be accessible via audio webcast on State Street's Investor Relations website, http://investors.statestreet.com, and by telephone at (+1) 800 717 1738 (Conference ID# 92099). Following the conference call, a replay will be avail
State Street Corporation (NYSE:STT) today announced its intention to increase its per share common stock dividend by 10% to $0.76 in the third quarter of 2024, subject to consideration and approval by its Board of Directors. State Street continues to be authorized to repurchase common shares under its existing share repurchase program previously approved by its Board of Directors. The Company also announced today that it had completed the Federal Reserve's 2024 Comprehensive Capital Analysis and Review (CCAR) stress test process. State Street's calculated Stress Capital Buffer (SCB) under this year's supervisory stress test was well below the 2.5% minimum, preliminarily resulting in a con
Together, these asset management leaders seek to widen investor access to alternative investment strategies State Street Global Advisors, the asset management business of State Street Corporation (NYSE:STT), announced today that it is joining forces with Bridgewater Associates, LP, one of the world's preeminent asset managers, seeking to widen access to core alternative investment strategies. "Bridgewater is known for its 40-year history of delivering resilient, diversified portfolios and insights to many sophisticated institutional global investors, including innovative approaches to strategic asset allocation. We are excited that this strategic relationship will now bring that portfo
Survey Shows 84% of Gold ETF Investors Report Improved Portfolio Performance Due to Their Gold Holdings Gold ownership expands: 38% of U.S. investors surveyed now hold gold in their portfolios, up from 20% last year. Investors in gold view gold as a safe haven during market volatility (57%) and a hedge against inflation (51%). When suggesting investing in gold to clients, 70% of financial advisors surveyed recommend gold ETFs. State Street Global Advisors, the asset management business of State Street Corporation (NYSE:STT), and the World Gold Council, the market development organization for the gold industry, celebrate the 20th anniversary of SPDR Gold Shares (GLD). Since its l
State Street Corporation (NYSE:STT) today announced the election of Patricia Halliday to its Board of Directors. Ms. Halliday, age 58, has more than three decades of financial services experience across a range of organizations covering investment, corporate and retail banking, and across markets in the UK, Europe and the US. She also has developed deep risk management expertise, having served in various leadership roles, including as chief risk officer at Santander in the UK and GE Capital International. At Santander, she led the enterprise risk organization, working across the businesses to examine risk profiles and both establish and instill informed risk appetites. While at GE Capit
State Street Corporation (NYSE:STT) today announced a cash dividend on each of the below outstanding series of non-cumulative perpetual preferred stock: Series G (represented by depositary shares, each representing a 1/4000th interest in a share of Series G preferred stock). The cash dividend is in the amount of $1,337.50 per share of Series G preferred stock (resulting in a distribution of approximately $0.334375 per depositary share) and is payable on December 16, 2024 to the holders of record of the Series G preferred stock at the close of business on December 2, 2024. Series I (represented by depositary shares, each representing a 1/100th interest in a share of Series I preferred
State Street Global Advisors, the asset management business of State Street Corporation (NYSE:STT) invites all investors to Times Square, the crossroads of the world, on Tuesday, October 29 for a record setting bell ringing and immersive Times Square takeover experience. State Street Global Advisors, the firm that made history three decades ago by putting the stock market into everyone's hands with the launch of the first US-listed exchange traded fund (ETF), invites all investors to once again make history together at 3pm ET on October 29, 2024 to set the GUINNESS WORLD RECORDS title for the most people to ring a bell in one hour —a signal that when we ring this bell, we are not only ring
NEW YORK, Oct. 15, 2024 /PRNewswire/ -- S&P Global (NYSE:SPGI) today announced the appointment of Eric Aboaf as Chief Financial Officer, effective February 2025. As an Executive Vice President and member of the Executive Leadership Team, Mr. Aboaf will oversee all aspects of the company's Finance function. He will report to Ms. Martina L. Cheung, S&P Global's incoming President and CEO. Ms. Cheung, as previously announced, assumes her role on November 1, 2024. "Eric brings a wealth of experience in financial services having held CFO roles for multiple publicly traded companie
State Street Corporation (NYSE:STT) reported its third-quarter 2024 financial results today. The news release, presentation and additional financial information can be accessed on State Street's Investor Relations website, http://investors.statestreet.com. A conference call to discuss the firm's financial results, outlook and related matters will be held at 12:00 p.m. ET today, Tuesday, October 15, 2024. The call will be open to the public. The conference call will be accessible on State Street's Investor Relations website, and by telephone at (+1) 800 717 1738 (Conference ID #26547). Following the conference call, a replay will be available on State Street's Investor Relations website, o
State Street Corporation (NYSE:STT) today announced that Eric Aboaf, vice chairman and chief financial officer (CFO), has made the decision to accept a new opportunity outside of banking and is expected to leave State Street in February of 2025. State Street has commenced its succession plan with a formal internal and external search process and Aboaf will stay on and work closely with the State Street team into February to ensure an orderly transition. "Over the course of the past eight years, Eric has continuously driven significant financial and business performance that has made a meaningful impact for State Street and I have very much enjoyed and valued our partnership," said Ron O'Ha
Maria Ximena Vasquez Barbosa appointed as country head of State Street's strategic expansion in Mexico; builds on the firm's ongoing expansion in Latin America State Street Corporation (NYSE:STT) announced today its continued strategic expansion into Mexico, marking a significant milestone in its broader growth strategy for Latin America. The firm has appointed Maria Ximena Vasquez Barbosa as Regional Sales Head Latin America & Caribbean to lead the company's efforts in this key market. Maria Ximena will be based in Mexico City and report to Oliver Berger, executive vice president and head of Emerging Growth Markets for State Street. "We are excited to continue our growth in the LatAm r
Charles River Development, a State Street Company, announced today that Operadora de Fondos Banorte, SA de CV, SOFI, Grupo Financiero Banorte ("BANORTE"), one of Mexico's largest mutual fund companies, is now live on Charles River's cloud-based Investment Management Solution (IMS). Banorte utilizes Charles River IMS to modernize their front, middle and back-office operations and to streamline the management of their domestic and international equity, fixed income, and multi-asset portfolios. Banorte will benefit from Charles River IMS's modern cloud technology that delivers automated workflows and straight-through processing for portfolio construction, performance attribution, order manage
Citigroup analyst Keith Horowitz maintains State Street (NYSE:STT) with a Neutral and raises the price target from $85 to $90.
These ten large-cap stocks were the best performers in the last week. Are they in your portfolio? Warner Bros. Discovery, Inc. (NASDAQ:WBD) stock escalated 18.28% after a report that the company had discussed plans to split its digital streaming and studio businesses from its legacy television networks. MicroStrategy Inc.’s (NASDAQ:MSTR) stock gained 16.74% last week amid a rise in Bitcoin’s price. D.R. Horton, Inc. (NYSE:DHI) shares surged 12.91% after the company reported better-than-expected Q3 financial results and revised FY24 guidance. The company also authorized a new $4 billion share repurchase. Few analysts raised the price forecasts on the stock. Coinbase Global Inc.’s
Wells Fargo analyst Mike Mayo maintains State Street (NYSE:STT) with a Overweight and raises the price target from $91 to $98.
State Street Corporation (NYSE:STT) reported better-than-expected second-quarter results on Tuesday. The company posted quarterly revenues of $3.191 billion, an increase of 2.6% year over year and beating the consensus of $3.146 billion. EPS of $2.15 topped the consensus estimate of $2.03, according to data from Benzinga Pro. Net interest income increased 6% year-over-year to $735 million, primarily due to higher investment securities yields and loan growth, partially offset by a shift in deposit mix. Investment Management AUM increased 16% Y/Y to $4.4 trillion as of quarter-end, primarily due to higher quarter-end market levels. "Productivity improvement remains a fundamental compo
RBC Capital analyst Gerard Cassidy reiterated a Sector Perform rating on the shares of State Street Corp (NYSE:STT) and raised the price target from $85 to $91. STT reported 2Q24 EPS of $2.15 versus the analyst’s $2.05 estimate. The quarter’s strength was attributed to better-than-expected net interest income and fee revenues, partially offset by higher-than-expected noninterest expense, noted the analyst. Net interest income (FTE) was $736 million versus the prior quarter of $717 million and the year-ago quarter of $691 million. The company’s tangible book value (TBV) per share increased 1.6% to $45.25 from $44.56 in the prior quarter and increased 4.8% from $43.18 in the year-a
Morgan Stanley analyst Connor Lynagh maintains State Street (NYSE:STT) with a Equal-Weight and raises the price target from $90 to $93.
https://www.bloomberg.com/news/articles/2024-07-17/state-street-said-to-explore-creating-stablecoin-deposit-token?utm_source=twitter&cmpid=socialflow-twitter-business&utm_content=business&utm_campaign=socialflow-organic&utm_medium=social&sref=2h1zKciyFinancial services and banking giant State Street Corp. is exploring ways to get involved in settling payments on blockchain, according to a person familiar with the matter.The Boston-based asset manager, which reported higher-than-expected revenue and interest income on Tuesday, is exploring creating its own stablecoin — a cryptocurrency that runs on a blockchain and is pegged to an asset such as the dollar. It's also considering creating its o
Goldman Sachs analyst Alexander Blostein maintains State Street (NYSE:STT) with a Buy and raises the price target from $89 to $98.
Barclays analyst Jason Goldberg maintains State Street (NYSE:STT) with a Overweight and raises the price target from $102 to $103.
Deutsche Bank analyst Brian Bedell maintains State Street (NYSE:STT) with a Hold and raises the price target from $75 to $80.
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Wolfe Research downgraded State Street from Peer Perform to Underperform and set a new price target of $73.00
BofA Securities downgraded State Street from Neutral to Underperform and set a new price target of $81.00
Goldman upgraded State Street from Neutral to Buy and set a new price target of $92.00 from $69.00 previously
JP Morgan downgraded State Street from Neutral to Underweight and set a new price target of $71.00 from $78.50 previously
UBS downgraded State Street from Buy to Neutral and set a new price target of $72.00 from $90.00 previously
Keefe Bruyette downgraded State Street from Outperform to Mkt Perform and set a new price target of $73.00 from $84.00 previously
Wells Fargo upgraded State Street from Equal Weight to Overweight and set a new price target of $98.00 from $88.00 previously
BofA Securities resumed coverage of State Street with a rating of Neutral and set a new price target of $86.00
New Street resumed coverage of State Street with a rating of Neutral and set a new price target of $87.00
Morgan Stanley downgraded State Street from Overweight to Equal-Weight and set a new price target of $86.00
NEW YORK, Oct. 15, 2024 /PRNewswire/ -- S&P Global (NYSE:SPGI) today announced the appointment of Eric Aboaf as Chief Financial Officer, effective February 2025. As an Executive Vice President and member of the Executive Leadership Team, Mr. Aboaf will oversee all aspects of the company's Finance function. He will report to Ms. Martina L. Cheung, S&P Global's incoming President and CEO. Ms. Cheung, as previously announced, assumes her role on November 1, 2024. "Eric brings a wealth of experience in financial services having held CFO roles for multiple publicly traded companie
Fernandes to lead the execution of firm's enterprise strategy for its digital asset services team State Street Corporation (NYSE:STT) today announced the appointment of Vanessa Fernandes as head of Digital Asset Solutions. Fernandes, who will be based in New Jersey, will report directly to Donna Milrod, chief product officer at State Street. With more than 25 years of financial services experience in technology and operations, Fernandes will partner with business leaders across product, technology, operations, as well as the Chief Commercial Office to drive the overall execution of State Street digital asset strategy. "We continue to focus on developing, leading, and executing on our d
Deepens commitment to Australian market through strategic investment in the Raiz platform that is centred on financial literacy State Street Global Advisors, Inc, the asset management business of State Street Corporation (NYSE:STT), today announced a strategic investment in Raiz Invest Limited (ASX: RZI), a leading Australian fintech platform that helps customers grow their wealth by helping them to save and invest. The parties have entered into an equity investment agreement (the "Initial Share Purchase") as part of a strategic relationship pursuant to which State Street Global Advisors will acquire approximately 5 percent of Raiz's share capital through a placement. In addition, the
Joerg Ambrosius Appointed President of Investment Services State Street Corporation (NYSE:STT) announced today that Joerg Ambrosius, executive vice president and chief commercial officer, has been appointed president of Investment Services, State Street's largest business. Ambrosius brings more than 30 years of financial services experience, with a successful track record of leading client management, sales and revenue growth, focusing on the needs of asset managers and institutional investors. Ambrosius assumed an expanded role in October 2023 with overall leadership of Investment Services' client facing activities and full responsibility for its international organization to better enab
Veteran Leader Brings Deep Strategic, Aviation, and Governance Experience to Boardroom ATLANTA, Aug. 8, 2024 /PRNewswire/ -- Wheels Up Experience Inc. (NYSE:UP) today announced that Gregory L. Summe, Managing Partner of Glen Capital Partners LLC, joined its Board of Directors, effective August 7. Summe fills the unexpired term of David Adelman, who is stepping down to focus on other professional pursuits. Summe's initial term as a Class II director will continue until the 2026 annual meeting of the Company's stockholders. He will serve on the Audit and Compensation Committees
Charles River Development (CRD), a State Street Company, has appointed Vinayak Bhat (Vin) as senior vice president (SVP), head of Asia Pacific (APAC), where he will be responsible for all business oversight within the region and collaboration with State Street Alpha®, the first front-to-back asset servicing platform from a single provider for institutional investors. Charles River, provider of the Charles River Investment Management Solution (Charles River IMS), was acquired by State Street in 2018. Vin joins Charles River from FactSet Research Systems where he was head of the Asia Pacific business. Vin has over 25 years of experience in leadership positions in sales, consulting, and engi
State Street Corporation (NYSE:STT) today announced the appointment of Elizabeth (Liz) Lynn to executive vice president and global head of Investor Relations. Lynn will report to Eric Aboaf, vice chairman and chief financial officer for State Street Corporation. Bringing more than 20 years of investor relations and financial services experience to her new role, Lynn will be responsible for leading State Street's engagement with investors and analysts, while providing counsel and insights into the company's financial performance and long-term business objectives. "Liz brings more than two decades of financial expertise and a successful track record," said Aboaf. "Her firm-wide experience
State Street Corporation (NYSE:STT) today announced that it has appointed Mark Shelton to executive vice president and general counsel. Shelton, who will report to Ron O'Hanley, chairman and chief executive officer of State Street Corporation, succeeds David Phelan who announced his retirement last year. Shelton joins State Street from Barclays International where he was general counsel overseeing legal services related to client transactions and trading as well as cross-border regulatory compliance, data security, privacy, and ESG strategy. Prior to Barclays, he was the Americas general counsel and global head of investigations at UBS. He is a former partner at Gibson, Dunn & Crutcher, w
Paglia brings extensive ETF industry leadership and experience to new leadership role State Street Global Advisors, the asset management business of State Street Corporation (NYSE:STT), today announced the appointment of Anna Paglia to the position of executive vice president and chief business officer, effective early next year. Reporting directly to State Street Global Advisors CEO Yie-Hsin Hung, Paglia will be responsible for developing a longer-term growth strategy for its major businesses across global ETFs, index, cash and defined contribution and increasing the firm's overall competitive positioning and delivery of investment exposures and tailored solutions for its clients. "W
State Street Corporation (NYSE:STT) announced today that it has appointed Executive Vice President Jessica Donohue as head of Global Investment Insights, Sustainability and Impact. Donohue succeeds Rick Lacaille who announced his retirement earlier this year. She will report to Lou Maiuri, president, chief operating officer, and head of Investment Services. In this role, Donohue will oversee State Street's sustainability efforts with a focus on delivering insights to our clients and the industry. In addition, Donohue will lead and coordinate across State Street's Investment Services and the broader organization to bring together investment insights and solutions to deepen relationships, p
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