|Bid||73.00 x 800|
|Ask||73.03 x 900|
|Day's Range||72.29 - 73.54|
|52 Week Range||48.62 - 77.00|
|Beta (3Y Monthly)||1.53|
|PE Ratio (TTM)||14.40|
|Earnings Date||Jan 16, 2020 - Jan 20, 2020|
|Forward Dividend & Yield||2.08 (2.85%)|
|1y Target Est||69.71|
State Street Global Advisors, the asset management business of State Street Corporation (STT), announced today that Jim Ross, chairman, Global SPDR, will be retiring from the firm at the end of March 2020 after a distinguished 27-year career. Ross, who joined State Street in 1992, was instrumental in creating, developing and bringing to market many of the world’s first ETFs, earning him the moniker of the “godfather of ETFs.” The product grew from inception in 1993 when SPY was launched on the American Stock Exchange, to an industry that today stands at almost $6 trillion worldwide and is still one of the fastest -growing investment products in the market. “Without question Jim has been one of the most influential figures in the investment management industry,” said Ron O’Hanley, CEO and president, State Street.
State Street Corporation today announced the final tender results of the previously announced cash tender offer by its principal banking subsidiary, State Street Bank and Trust Company , for any and all of the outstanding Floating Rate Junior Subordinated Debentures due 2047 listed in the table below , which were issued by State Street.
, is taking early retirement from his job as chairman of State Street’s pioneering ETF business. The ETF market has exploded in size and diversity over the past decade, seizing market share from traditional, active fund managers thanks to the funds’ low expenses. Mr Ross, 54, was part of the original SPDR team, having joined the Boston-based group in 1992 after a stint as an accountant at Ernst & Young, and has led the business since 2005.
The SPDR® Exchange Traded Fund listed in the table below, announced today that it received a payment as an authorized claimant from a class action settlement related to Virtus Investment Partners, Inc.
New Macro Linkages Indicators to Help Investors Gauge Inter-Asset Connectedness across Global Equity Markets and Currencies
State Street Global Advisors, the asset management business of State Street Corporation and the World Gold Council, the market development organization for the gold industry, this week celebrates the anniversary of the first US exchange traded fund backed entirely by physical gold, SPDR® Gold Shares .
State Street Corporation announced today that its President & Chief Executive Officer, Ron O’Hanley, and its Chief Financial Officer, Eric Aboaf, will participate in the Goldman Sachs US Financial Services Conference in New York on Wednesday, December 11, 2019 at 9:20 AM ET.
Zac Barnett and Richard Wheelahan, III By Oliver Estreich How does governance come into play for institutional asset managers. One key area is how leverage is managed, according to Richard Wheelahan, III, and Zac Barnett, the Co-Founders of Fund Finance Partners. Over the past decade Richard has advised fund sponsors and lenders, both as […]
(Bloomberg Opinion) -- Those who bought stocks as they soared to new records last week amid rising optimism for a trade deal are probably suffering buyer’s remorse after President Donald Trump said the U.S. hasn’t agreed to a rollback of tariffs on China. Are those regrets warranted?As the Dow Jones Industrial Average, S&P 500 Index and Nasdaq Composite Index all set new marks last week, there were no shortage of studies released that crunched data going back to the 1920s to prove that purchasing stocks when indexes hit record highs generates better risk-adjusted returns than simple buy-and-hold strategies. As Meb Faber — the chief investment officer at Cambria Investment Management, who conducted one of the studies — pointed out, while buying at the highs isn’t really “a system anyone would want to implement,” the data is “an acknowledgement that all-time highs are nothing to be afraid of.”The thing is, despite the recent surge in markets, it appears that plenty of investors are afraid. Rather than going all-in on stocks for fear of missing out, investors are showing almost unprecedented restraint. Money continues to pour into money-market funds, with assets standing at $3.51 trillion as of last Wednesday, up from $3.05 trillion at the start of the year, according to the Investment Company Institute. At the same time, they have pulled $267 billion from equity funds year to date.Put another way, almost half a trillion dollars have been put into cash even as the MSCI USA Index of equities jumped 23.5% this year through Friday. The last time so much money went into cash was in 2008 as the financial crisis was heating up, and it’s a marked difference from 2013, the last time stocks were having a good as year as this one. Back then, money funds only attracted $28 billion.Money funds aren’t the only sign of significant investor caution. Notably, State Street Global Markets’ monthly index — which is derived from actual trades and covers 15% of the world’s tradeable assets — shows that investors this year have been less confident in the outlook for equities than even during the financial crisis.It’s good to see investors showing so much discipline, especially with valuations on the high side. The S&P 500 is trading at 17 times the following year’s projected earnings. That ratio has been higher only once since the economy began to recover from the financial crisis, and that was during late 2017, just before the S&P 500 took a nasty fall, declining 10% over the course of a few weeks in late January and early February 2018.Perhaps the caution is a sign that investors know a trade detente only brings a new set of issues to the forefront. The first is whether equities can keep rising if an agreement only reinforces the notion that the Federal Reserve is done cutting interest rates and may even start talking about boosting them sooner rather than later. In the absence of earnings growth, a strong case can be made that the only reason stocks have managed to rally is because of the Fed’s dovish pivot earlier this year and three subsequent rate cuts. Based on fed funds futures, traders aren’t convinced the central bank will ease monetary policy further any time in the next two years.The second is whether the economy can pick up enough to allow companies to meet lofty earnings estimates for next year. Although analysts have slashed their fourth-quarter earnings forecasts for members of the S&P 500 to an average decline of 0.3% from an increase of 7% in June, estimates for 2020 have barely budged, remaining stubbornly high at 9.7%.So while history shows there’s no reason to avoid buying stocks at all-time highs, there are always exceptions. This could be one of them.To contact the author of this story: Robert Burgess at email@example.comTo contact the editor responsible for this story: Beth Williams at firstname.lastname@example.orgThis column does not necessarily reflect the opinion of the editorial board or Bloomberg LP and its owners.Robert Burgess is an editor for Bloomberg Opinion. He is the former global executive editor in charge of financial markets for Bloomberg News. As managing editor, he led the company’s news coverage of credit markets during the global financial crisis.For more articles like this, please visit us at bloomberg.com/opinion©2019 Bloomberg L.P.
We wouldn't blame State Street Corporation (NYSE:STT) shareholders if they were a little worried about the fact that...
State Street Corporation NYSE: STT and FactSet , a global provider of integrated financial information, analytical applications, and industry-leading service, today announced a strategic partnership to distribute the State Street MediaStats Equity Indicators on the Open:FactSet Marketplace.
State Street Corporation today announced cash dividends on each of the below outstanding series of non-cumulative perpetual preferred stock:
State Street Corporation (STT) today announced that it will redeem all of its outstanding shares of non-cumulative perpetual preferred stock Series E (represented by depositary shares, each representing a 1/4000th interest in a share of Series E preferred stock)(the “Redemption”) on December 15, 2019 (the “Redemption Date”), for cash at a redemption price of $100,000 per share (equivalent to $25.00 per depositary share) plus all dividends that have been declared but not paid up to but not including the Redemption Date. The Redemption is in addition to State Street’s original capital plan, submitted as part of the 2019 Comprehensive Capital Analysis and Review (CCAR) cycle and previously announced on June 27, 2019, and has received approval from the Federal Reserve.
State Street Corporation today announced the results of its 2019 mid-cycle stress test, consistent with section 165 of the Dodd-Frank Wall Street Reform and Consumer Protection Act.
State Street Corporation (“State Street”) (STT) today announced that, pursuant to the previously announced cash tender offer (the “Tender Offer”) by its principal banking subsidiary, State Street Bank and Trust Company (the “Bank”) for any and all of the outstanding Floating Rate Junior Subordinated Debentures due 2047 listed in the table below (the “2047 Debentures”), which were issued by State Street, approximately $289.8 million in aggregate principal amount of the 2047 Debentures were validly tendered and not validly withdrawn on or prior to 5:00 p.m., New York City time, on November 1, 2019 (the “Early Tender Deadline”). The terms of the Tender Offer are described in the Offer to Purchase, dated October 21, 2019 (the “Offer to Purchase”) and remain unchanged.