Shares of State Street Corporation (STT, Financial) have proved an excellent investment of late. The stock has delivered a total return of roughly 33% over the past year. Despite this move higher, the stock trades at just 10.8x consensus full year 2024 earnings per share and offers a dividend yield of 3.4%. Comparably, the S&P 500 trades at roughly 23x forward earnings while the financial sector, proxied by the Financial Select Sector SPDR ETF (XLF) trades at roughly 17x forward earnings. While a low valuat ...

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State Street Corp.’s (STT) asset management business, State Street Global Advisors, announced its partnership with Apollo Global Management Inc. (APO) and its affiliates to enhance investors' accessibility to private market opportunities.Rationale Behind State Street’s CollaborationApollo specializes in high-quality private credit origination that includes both corporate lending and asset-backed finance. As of June 30, 2024, APO reported $146 billion of debt origination in the last 12 months, aided by its c ...

State Street Corp.’s (STT) shares have touched a 52-week high of $87.27 on Friday. The stock closed the session a tad lower at $87.10, gaining 17.7% in the past six months.The stock has outperformed the industry, the S&P 500 Index, and its peers KeyCorp (KEY) , Comerica Inc. (CMA) and Northern Trust Corp. (NTRS) in the same time frame.Six-Month Price Performance Chart Image Source: Zacks Investment Research STT’s improving fee income through strategic buyouts and business servicing wins, alongside a solid b ...

Investment Announcement - State Street Corporation's asset management unit, State Street Global Advisors, has announced a 5% equity investment in Australian fintech platform Raiz Invest Limited [1] - The partnership aims to combine State Street's market expertise with Raiz's mobile-first platform, enhancing access to micro-investments for retail investors in Australia [1] Strategic Goals - The investment aligns with State Street's strategy to collaborate with wealth firms that share a commitment to helping investors manage their investments and savings for retirement [2] - Both companies aim to provide financial literacy content and investment education tools to Raiz customers, benefiting a range of investors from beginners to experienced [2][3] Recent Developments - State Street has been expanding its scale through restructuring and inorganic growth, including the acquisition of CF Global Trading in February 2024 to enhance outsourced trading capabilities [3] - The company has also focused on broadening its product offerings and enhancing fee income through partnerships, such as with Taurus SA for digital asset solutions and Galaxy Asset Management for digital asset strategies [3] Market Performance - Year-to-date, State Street shares have increased by 8.5%, while the industry has seen a growth of 20.9% [3]

Core Viewpoint - State Street Corp. has formed a strategic partnership with Taurus SA to enhance its digital asset solutions, focusing on providing reliable digital asset capabilities to its clients [1][2]. Group 1: Partnership Details - The partnership will allow State Street to utilize Taurus' comprehensive solutions for custody, tokenization, and node-management, automating the issuance and servicing of digital assets [1]. - Taurus is recognized as a leading digital asset infrastructure provider, backed by Credit Suisse and owned by UBS, catering to large financial institutions [1]. Group 2: Focus on Tokenization - State Street will initially concentrate on tokenized versions of traditional assets, reflecting the high institutional demand for digital assets as a hedge against inflation and for diversification [2]. - The collaboration aims to position State Street as a leader in the digital asset space, enhancing the client experience [2]. Group 3: Product Utilization - State Street will leverage three of Taurus' key products: Taurus-PROTECT, Taurus-CAPITAL, and TaurusEXPLORER, which facilitate the creation, management, and blockchain connectivity of tokenized assets [3]. - This partnership is expected to positively impact U.S. financial markets, which have been lagging behind Europe due to regulatory challenges [3]. Group 4: Broader Industry Context - The move aligns with State Street's strategy to expand its product offerings and strengthen fee income, following previous collaborations to enhance exposure to digital asset strategies [3]. - Other financial firms, such as Morgan Stanley and Robinhood, are also taking steps to enter the digital asset market, indicating a growing trend in the industry [5][6].

It is a good idea to add State Street (STT) stock to your portfolio now as it benefits from solid business servicing wins, strategic acquisitions, global reach and efforts to technologically upgrade operations. Its steady capital distribution activities are likely to continue enhancing shareholder value.Analysts seem optimistic about the company’s earnings growth prospects. Over the past 30 days, the Zacks Consensus Estimate for earnings has been revised marginally upward for 2024 and 2025. The stock curren ...

It has been about a month since the last earnings report for State Street Corporation (STT) . Shares have lost about 7.5% in that time frame, underperforming the S&P 500.Will the recent negative trend continue leading up to its next earnings release, or is State Street due for a breakout? Before we dive into how investors and analysts have reacted as of late, let's take a quick look at its most recent earnings report in order to get a better handle on the important drivers. State Street Q2 Earnings Beat as ...

Core Viewpoint - State Street Corporation (STT) has been upgraded to a Zacks Rank 2 (Buy), indicating a positive outlook on its earnings estimates, which is a significant factor influencing stock prices [1][2]. Earnings Outlook - The Zacks rating upgrade reflects an improvement in State Street's earnings outlook, which is expected to positively impact its stock price [2]. - For the fiscal year ending December 2024, State Street is projected to earn $8.15 per share, representing a year-over-year increase of 6.4% [5]. Earnings Estimate Revisions - Over the past three months, the Zacks Consensus Estimate for State Street has increased by 2.5%, indicating a trend of rising earnings estimates [5]. - The correlation between earnings estimate revisions and near-term stock movements is strong, suggesting that tracking these revisions can be beneficial for investment decisions [4]. Zacks Rank System - The Zacks Rank system classifies stocks into five groups based on earnings estimates, with Zacks Rank 1 (Strong Buy) to Zacks Rank 5 (Strong Sell), and has shown an impressive track record of performance [4][6]. - Only the top 20% of Zacks-covered stocks receive a 'Strong Buy' or 'Buy' rating, indicating superior earnings estimate revisions, positioning State Street favorably for potential market-beating returns [6][7].

Core Viewpoint - State Street Corp (STT) is positioned for growth due to increased assets under management (AUM), higher interest rates, improved fee income efforts, and strategic acquisitions, although rising expenses and concentrated fee-based revenues pose concerns [1][5]. Group 1: Financial Performance - State Street's net interest revenue (NIR) is expected to see modest growth, with a compound annual growth rate (CAGR) of 7.8% from 2020 to 2023 [1]. - The net interest margin (NIM) increased to 1.20% in 2023 from 1.03% in 2022, with expectations for stability in 2024 and 2025, followed by a projected 3.4% increase in 2026 [2]. - Total fee revenues experienced a four-year CAGR of 1% from 2019 to 2023, driven by increased client activity and market volatility, with a projected rise of 4.4% in total fee revenues for the current year [2][3]. Group 2: Strategic Initiatives - State Street has been expanding through strategic acquisitions, including the acquisition of CF Global Trading to enhance trading capabilities and full ownership of its India-based joint ventures [4]. - The company aims to optimize global operations and has previously acquired Mercatus to provide an integrated platform for institutional investors in private markets [4]. Group 3: Expense Management - Total non-interest expenses have shown a CAGR of 3.2% from 2020 to 2023, with expectations for a CAGR of 1.6% by 2026, despite cost-saving measures [5]. - The company faces elevated expenses due to higher information systems costs, inflationary pressures, and strategic investments [5]. Group 4: Revenue Composition and Market Position - Fee income constituted 77% of total revenues in the first half of 2024, although it has declined over the past three years, with higher capital market volatility posing challenges [6]. - Year-to-date, STT shares have gained 1%, underperforming the industry average increase of 14% [6].