Headquartered in Boston, MA Fiscal year ends December NYSE: STT statestreet.com
State Street Corporation (NYSE: STT) is one of the world's largest providers of financial services to institutional investors. The company operates two primary business lines: Investment Servicing and Investment Management. Through its Investment Servicing segment, State Street provides custody, fund accounting, administration, record-keeping, securities lending, and related services to asset managers, asset owners, insurance companies, and pension funds, with $59.2 trillion in assets under custody and/or administration. Through its Investment Management segment, operated primarily via State Street Global Advisors, the company manages $6.3 trillion in assets, offering index strategies, ETFs (including the SPDR product suite), active strategies, alternatives, and cash management products. State Street also provides foreign exchange trading, securities finance, and software services through its Charles River Development (CRD) platform, which delivers front-to-back investment management solutions. The company operates globally across more than 100 geographic markets with approximately 51,000 employees. Updated
State Street raised its full-year fee revenue outlook to 13% to 14% growth and net interest income to 15% to 16%, both above prior guidance, after record servicing and management fees. EPS beat expectations while total revenue came in missing expectations, and assets under custody hit a record $59.2 trillion.
State Street reports before the open with 13 straight quarters of EPS beats on the line, and consensus wants $3.68 on $4.04 billion in revenue. Last quarter cleared the bar by 10.6%, so anything less than another beat resets how the market prices custody and fee growth here.
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State Street Corporation (NYSE: STT) is one of the world's largest providers of financial services to institutional investors. The company operates two primary business lines: Investment Servicing and Investment Management.
24/7 Wall St.'s 12-month price target for STT is $190.05, rated Buy. The Wall Street consensus target is $199.03. STT price prediction →
