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 |
Citigroup analyst Keith Horowitz maintains State Street (NYSE:STT) with a Neutral and raises the price target from $85 to $90.
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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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Two leaders in asset management seek to democratize access to private assets State Street Global Advisors, the asset management business of State Street Corporation (NYSE:STT), announced today that it is working with Apollo Global Management, Inc. (NYSE:APO), a leading provider of alternative assets and retirement solutions, and its affiliates (collectively, Apollo), to expand investor access to private market opportunities. "Private assets are one of the fastest growing sectors of the financial industry. We are excited to be working with Apollo, a global leader in alternative assets, to continue to increase accessibility to private markets, opening them to an even larger cross section of
Funds seek to provide active management of digital asset exposures to capitalize on market inefficiencies and evolving trends in a rapidly transforming ecosystem NEW YORK and BOSTON, Sept. 10, 2024 /CNW/ - Galaxy Asset Management, an affiliate of Galaxy Digital Holdings Ltd. (TSX:GLXY) and one of the world's largest investment managers of digital assets and blockchain exposures, and State Street Global Advisors, the asset management business of State Street Corporation (NYSE:STT), today announced the introduction of three actively managed digital asset and disruptive technology focused ETFs sub-advised by Galaxy Asset Management.
Providing Access to Derivative Income, Emerging Markets ex-China and Commodities, SPIN, XCNY and CERY Are Designed to Help Investors Customize Portfolios State Street Global Advisors, the asset management business of State Street Corporation (NYSE:STT), today announced the launch of three new ETFs: the SPDR® SSGA US Equity Premium Income ETF (SPIN), the SPDR® S&P® Emerging Markets ex-China ETF (XCNY), and the SPDR® Bloomberg Enhanced Roll Yield Commodity Strategy No K-1 ETF (CERY). The funds are designed to help investors capture opportunities and manage risk. "As investors increasingly turn to ETFs to optimize their portfolios, we're excited to be expanding our SPDR ETF offering to h
State Street Corporation (NYSE:STT) today announced that it has been selected by Challenger Limited, a publicly listed Australian investment management firm, to provide custody and, through State Street Alpha®, back-, middle- and front office investment administration services, for a suite of listed and unlisted investment vehicles with A$127 billion1 in assets under management. In this new client relationship, State Street will be the custodian and investment administrator for the entire Challenger group, comprising funds management that includes the multi-affiliate platform Fidante, fixed income platform Challenger Investment Management, and Challenger Life, the leading provider of annu
State Street Corporation (NYSE:STT) announced today that its Vice Chairman and Chief Financial Officer, Eric Aboaf, and Chief Operating Officer, Mostapha Tahiri, will present at the Barclays 22nd Annual Global Financial Services Conference in New York, NY on Monday, September 9, 2024 at approximately 11:15 AM ET. An audio webcast of the event will be accessible on State Street's Investor Relations website, https://investors.statestreet.com. A replay of the webcast will be available on the Investor Relations website shortly after the event, for approximately ninety days following the presentation. About State Street Corporation State Street Corporation (NYSE:STT) is one of the world's
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
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
Agreement will add tokenization and digital custody services to firm's existing Fund Administration and Accounting capabilities for Digital Assets State Street Corporation (NYSE:STT) and Taurus SA ("Taurus"), a global leader in digital asset infrastructure, today announced a strategic agreement that will deliver trusted and reliable digital assets capabilities for State Street Bank and Trust Company clients. The agreement will further enhance State Street Digital Asset Solutions, which seeks to provide an integrated business and operating model that supports the digital investment lifecycle. "The collaboration with Taurus underscores our ongoing commitment to further establishing ours
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
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
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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
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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
Vast Majority of Advisors (87%) Currently Allocate Assets to Gold Role as a Portfolio Diversifier is Top Reason Cited For An Allocation to Gold Physically Backed Gold ETFs Attract Most Assets State Street Global Advisors, the asset management business of State Street Corporation (NYSE:STT) and the World Gold Council, today released the results of its Gold Perceptions Survey, which is designed to better understand how current market conditions are impacting perceptions of gold across investor cohorts. According to the research, 29% of financial advisors in North America plan to increase allocations to gold over the next 12 to 18 months, 62% report their allocations to gold are ex
State Street Corporation (NYSE:STT) plans to announce its second-quarter 2024 financial results on Tuesday, July 16, 2024 at approximately 7:30 a.m. ET. A conference call to review the firm's financial results will be held at 11:00 a.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: 92099). Materials will be available on the website prior to the call. For those unable to listen to the live broadcast, a replay will be available on the website or by telephone at (+1) 888 660 6264 (Conference ID: 92099, Playback Passcode: 92099#), which will be
State Street Corporation (NYSE:STT) today announced a quarterly cash dividend of $0.69 per share of common stock, payable on July 11, 2024 to common shareholders of record at the close of business on July 1, 2024. 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 (resulting in a distribution of approximately $0.334375 per depositary share) and is payable on June 18, 2024 to the hold
State Street Corporation (NYSE:STT) reported its first-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 10:00 a.m. ET today, Friday, April 12, 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) 888 886 7786 (Conference ID# 14320217). Following the conference call, a replay will be av
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
Dr. Andreas Przewloka brings 20 years of senior financial services leadership experience to State Street State Street Corporation (NYSE:STT) today announced that Dr. Andreas Przewloka has been appointed as executive vice president and chief executive officer for State Street Bank International GmbH (SSBI). Przewloka, who assumed his new role effective January 1, 2023, reports to Joerg Ambrosius, chief commercial officer for State Street and chairman of the board of SSBI. Przewloka will lead State Street's custody and investment servicing business across Continental Europe. He brings more than two decades of financial services experience to the role, including an in-depth understanding of
Yvette Hollingsworth Clark brings financial services expertise and extensive compliance and risk management experience State Street Corporation (NYSE:STT) today announced that Yvette Hollingsworth Clark has been appointed to executive vice president and global chief compliance officer. Hollingsworth Clark who will report to Brad Hu, executive vice president and global head of risk for State Street, will also be accountable to the Examining and Audit Committee of State Street's Board of Directors. Consistent with the principles of effective compliance, Hollingsworth Clark will oversee compliance activities globally, including designing and implementing structures and processes to drive str