A series of significant events took place revolving around the New York Stock Exchange listed firm,
State Street Corporation (STT). Firstly, the position held by The Manufacturers Life Insurance Company in STT has been reduced. Meanwhile, State Street Global Advisors made a swift move by launching the industry's first actively managed Corporate and Municipal Target Maturity ETFs, thereby launching 14 bond ETFs.
Recently, State Street received an upgrade on its financial rating, highlighting its strong regulatory capital. Simultaneously, their price target was increased by Goldman Sachs to $100.00. The corporation has been implementing additional deposit placements through Minority Depository Institutions and Community Development Financial Institutions and is identified as a promising dividend stock at the moment. Notably,
it has collaborated with Apollo Global Management to enhance investor access to private markets. State Street has also shown optimism with its decision to boost its dividend to $0.76 and redeem $500M of its Preferred Stock in Q3 of 2024. The corporation posted its Q2 fiscal 2024 financial results and had a promising Q1, beating earnings estimates.
Additionally, insiders, including Vice Chairman and CFO Eric Aboaf, have been selling shares of STT. Reported earnings and revenues for Q1 surpassed estimates. Lastly, the firm's stock reached a 52-week high, signaling a possibly optimal time for investors to buy.
State Street Corporation STT News Analytics from Fri, 08 Dec 2023 08:00:00 GMT to Sun, 29 Sep 2024 09:48:41 GMT -
Rating 8
- Innovation 3
- Information 7
- Rumor 2
