State Street Corporation (STT) Stock Overview
Publication Date: September 22, 2024
State Street Corporation (NYSE: STT), based in Boston, Massachusetts, stands as a prominent asset management firm that has been operating since 1792. Known for its comprehensive suite of financial services tailored specifically for institutional investors worldwide, State Street specializes in investment servicing, which encompasses custody, accounting, regulatory reporting, and analytics. The firm also provides portfolio management and risk analytics, in addition to trading and settlement services. A notable feature of State Street’s offerings is its SPDR ETF brand, which provides a range of exchange-traded funds as part of its investment management strategies.
Financial Performance and Market Position
The asset management industry plays a crucial role in the financial sector, and State Street Corporation has demonstrated strong revenue performance with approximately $12 billion in total revenue. Despite a solid financial footing, the current market sentiment favors a “hold” recommendation, suggesting that investors should observe without making new commitments at this time. Analysts project an optimistic high target price of $103.00, while the mean target price is estimated at $92.36, indicating some growth potential. This is coupled with a stock price currently at $88.50, positioning it favorably within a moderate growth range.
The total number of shares outstanding stands at approximately 298.6 million, with 4.8 million shares currently held short, indicating a low short interest of about 0.0185% of the total float. This low percentage suggests an overall positive investor sentiment towards State Street’s market stability and financial performance.
Price Trend and Analyst Sentiment
Recent stock analysis indicates a target low price of $79.00 and a target median price of $92.50, reflecting a consistent outlook across various analyst opinions. Currently, the share price is closely approaching its 52-week high of $89.42, which underlines strong market performance over the past year. Additionally, the fifty-day moving average is set at $83.016, reinforcing a trend of consistent upward movement. The fifty-two week low of $62.78 illustrates significant recovery and investor confidence since that point, emphasizing the resilience and growth potential of the stock as it nears its yearly peak.
Analysts have issued a consensus recommendation of “hold,” with a mean recommendation score of 2.7 derived from the views of 14 analysts. This cautious approach reflects concerns regarding potential volatility while acknowledging the likelihood of moderate growth in the foreseeable future.
In summary, investors in State Street Corporation should remain vigilant in the current stock environment, balancing potential gains against market uncertainties.
| Metric | Value |
|---|---|
| Market Cap | $26.4b |
| Total Debt | $53.1b |
| Total Cash | $115.8b |
| Shares Outstanding | 298.6m |
| Float Shares | 282.2m |
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