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State Street Corporation - STT STOCK NEWS

Welcome to our dedicated page for State Street Corporation news (Ticker: STT), a resource for investors and traders seeking the latest updates and insights on State Street Corporation stock.

State Street Corporation (STT) is a globally recognized leader in the financial services industry. Specializing in investment management, investment research and trading, and investment servicing, State Street partners with institutional investors worldwide. These services cater to asset managers, asset owners, alternative asset managers, insurance companies, pension funds, and official institutions.

With approximately $42 trillion in assets under custody and administration and $4.1 trillion in assets under management as of December 31, 2023, State Street demonstrates its significant presence and influence in the financial sector. The company operates in more than 100 geographic markets and employs over 46,000 professionals globally, providing a robust network of support and expertise.

State Street is committed to helping clients overcome challenges and achieve better performance both now and in the future. The company consistently delivers innovative solutions and maintains a forward-looking approach to meet the evolving needs of its clients.

Recent achievements include strategic partnerships and technological advancements aimed at enhancing client services. State Street's current projects focus on expanding its capabilities in data analytics, artificial intelligence, and digital asset management, ensuring it remains at the forefront of the industry.

In addition to its core services, State Street is dedicated to sustainability and responsible investing, integrating environmental, social, and governance (ESG) criteria into its investment processes. This commitment not only benefits clients but also contributes to the broader goal of sustainable development.

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State Street Corporation (NYSE: STT) reported its third-quarter 2021 financial results. As of September 30, 2021, the firm managed $3.9 trillion in assets and administered $43.3 trillion in assets. A conference call is scheduled for October 18, 2021 at 10:00 a.m. ET to discuss results and outlook. The call will be accessible publicly via the Investor Relations website. For more details, please visit State Street's Investor Relations.

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State Street Corporation (NYSE: STT) has announced its partnership with the Digital Securities Depository Corporation (DSDC) to provide custody services. DSDC aims to enhance cross-border securities settlement for digital depositary receipts (DDRs), starting with UK’s FTSE 350 equities. State Street will offer various services including safekeeping and transaction settlement for non-US listed securities. This collaboration supports State Street's digital finance strategy, as it continues to build out its capabilities in crypto and distributed market infrastructure.

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State Street Corporation (NYSE: STT) has expanded its Direct Access Lending product to include Convertible Bond Arbitrage Strategies, allowing borrowers to use US convertible bonds as collateral. This peer-to-peer securities finance product has seen substantial growth since its launch in Q4 2019, adding new clients and increasing on-loan balances. The enhancements aim to attract both existing and prospective clients, supporting operational efficiencies without raising operational risk.

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State Street Corporation (NYSE:STT) has been appointed back office servicing agent for Harbor Capital Advisors’ first actively managed fully transparent fixed income ETFs, launched in September. These include the Harbor Scientific Alpha Income ETF (SIFI) and the Harbor Scientific Alpha High-Yield ETF (SIHY). State Street will provide ETF servicing solutions such as custody, fund accounting, and order-taking. With over 30 years of partnership, State Street manages $58B in assets for Harbor and boasts $42.6 trillion in assets under custody. This collaboration is expected to enhance ETF growth.

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State Street Global Advisors has launched the SPDR Loomis Sayles Opportunistic Bond ETF (OBND), an actively managed fund aimed at providing diverse income sources through a mix of investment-grade, high-yield, and non-U.S. dollar denominated debt. Managed by the Loomis Sayles Alpha Strategies team, it targets risk-adjusted total returns by navigating global credit conditions. The fund responds to the current low interest rate landscape, offering investors a solution for yield and diversification.

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State Street Corporation (NYSE: STT) will announce its third-quarter 2021 financial results on October 18, 2021, at 7:30 a.m. ET. Investors can access the webcast at investors.statestreet.com and by phone at (833) 380-0399. A replay will be available for two weeks after the call. As of June 30, 2021, State Street had $42.6 trillion in assets under custody and $3.9 trillion in assets under management, operating in over 100 markets globally.

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State Street Corporation (NYSE: STT) announced a public offering of 21,724,217 shares of its common stock at $87.60 per share, expected to close on September 14, 2021. The proceeds will fund part of the acquisition of Brown Brothers Harriman Investor Services. If the acquisition does not close, the funds will be used for general corporate purposes. The offering is underwritten by Goldman Sachs & Co. LLC and BofA Securities and registered under the Securities Act of 1933.

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State Street Corporation (NYSE: STT) announced plans to sell 21,724,217 shares of common stock in an underwritten public offering. Proceeds will fund part of the cash consideration for acquiring Brown Brothers Harriman Investor Services. This offering is independent of the acquisition's completion and proceeds will be used for general corporate purposes if the acquisition does not finalize. Goldman Sachs and BofA Securities are the underwriters for this offering.

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State Street Corporation (NYSE: STT) has announced its acquisition of Brown Brothers Harriman & Co. (BBH)’s Investor Services business for $3.5 billion. The deal targets completion by year-end 2021, subject to regulatory approvals. This acquisition will strengthen State Street’s position as the world’s leading asset servicer, increasing its Assets Under Custody to $37.3 trillion. The merger is expected to provide earnings accretion in the first year with an increased pre-tax margin target of 31% by 2023, thanks to estimated synergies of $260 million by year 3.

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State Street Corporation (NYSE: STT) has been appointed by my529 to offer investment servicing solutions, aiming to enhance my529’s operational efficiency. my529, Utah's official nonprofit 529 educational savings plan, has over $20 billion in assets under management and serves more than 400,000 participants. The partnership will allow my529 to upgrade technology, streamline operational processes, and focus on growth. State Street will provide various services including accounting, NAV calculations, performance reporting, and trading services.

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FAQ

What is the current stock price of State Street Corporation (STT)?

The current stock price of State Street Corporation (STT) is $98.17 as of December 23, 2024.

What is the market cap of State Street Corporation (STT)?

The market cap of State Street Corporation (STT) is approximately 28.4B.

What services does State Street Corporation provide?

State Street Corporation offers investment management, investment research and trading, and investment servicing to institutional investors.

How much in assets does State Street have under management?

As of December 31, 2023, State Street has approximately $4.1 trillion in assets under management.

What is the global reach of State Street Corporation?

State Street operates in more than 100 geographic markets and employs over 46,000 professionals worldwide.

Who are the main clients of State Street Corporation?

State Street serves asset managers, asset owners, alternative asset managers, insurance companies, pension funds, and official institutions.

What recent projects is State Street involved in?

State Street is focusing on expanding capabilities in data analytics, artificial intelligence, and digital asset management.

How does State Street Corporation approach sustainability?

State Street integrates environmental, social, and governance (ESG) criteria into its investment processes for responsible and sustainable investing.

What are State Street's latest achievements?

Recent achievements include strategic partnerships and technological advancements to enhance client services.

How many assets are under custody and administration by State Street?

State Street has approximately $42 trillion in assets under custody and administration.

What makes State Street a leading financial services provider?

State Street's comprehensive services, global reach, significant assets under management, and commitment to innovation and sustainability make it a leading provider.

What is the employee strength of State Street Corporation?

State Street employs over 46,000 professionals globally.

State Street Corporation

NYSE:STT

STT Rankings

STT Stock Data

28.44B
291.73M
0.41%
90.8%
1.09%
Asset Management
State Commercial Banks
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United States of America
BOSTON