State Street
New York symbol STT, provides custodial, accounting and other services to large financial institutions, such as mutual funds and pension plans. Also provides asset management services.
STATE STREET CORP. $40 (www.statestreet.com) earned $1.85 billion, or $3.73 a share, in 2011. That’s up 9.6% from $1.7 billion, or $3.40 a share, in 2010. Revenue rose 9.0%, to $9.5 billion from $8.7 billion. The company continues to win new orders from institutional investors for its security-custody and pricing services. Assets under custody rose 1.3%, to $21.8 trillion from …read more »
STATE STREET CORP. $45 (New York symbol STT; Aggressive Growth Portfolio, Finance sector; Shares outstanding: 504.0 million; Market cap: $22.7 billion; Price-to-sales ratio: 2.5; Dividend yield: 1.6%; TSINetwork Rating: Extra Risk; www.statestreet.com) sells accounting and administrative services to large institutional investors, such as mutual funds and pension plans.
State Street continues to benefit from rising stock markets. Its fee income rises …read more »
Bank stocks tend to account for the bulk of most investors’ Finance-sector holdings. Banks are writing down fewer loans as the economy recovers and borrowers pay back their loans, but demand for new mortgages and other loans remains weak.
To diversify your Finance holdings, we recommend investing in non-bank financial-services companies, such as these six. We have a high opinion of …read more »
MACY’S INC. $25 (www.macys.com) reported that sales rose 1.6% at its 850 department stores in March 2011, to $2.21 billion from $2.17 billion in March 2010. Same-store sales rose 0.9%. The company expects same-store sales to rise by 8% to 9% in April 2011 from a year earlier, due to a cosmetics promotion and the later Easter holiday. Buy.
STATE STREET …read more »
STATE STREET CORP. $72 (New York symbol STT; Aggressive Growth Portfolio, Finance sector; Shares outstanding: 431.3 million; Market cap: $31.1 billion; WSSF Rating: Average) earned $570 million in the second quarter of 2008, up 55.7% from $366 million a year earlier. Most of that gain was due to State Street’s acquisition of Investors Financial Services Corp. in July 2007 for …read more »
STATE STREET CORP. $76 (New York symbol STT; Aggressive Growth Portfolio, Finance sector; Shares outstanding: 384.8 million; Market cap: $29.2 billion; WSSF Rating: Average) earned $1.15 a share (total $449 million) in the third quarter of 2007, up 26.3% from $0.91 a share ($358 million) a year earlier. These figures exclude restructuring costs related to State Street’s recent purchase of …read more »
STATE STREET CORP. $69 (New York symbol STT; Aggressive Growth Portfolio, Finance sector; Shares outstanding: 336.4 million; Market cap: $23.2 billion; WSSF Rating: Average) has completed its $4.2 billion all-stock acquisition of Financial Services Corp., which provides custodial and related services to institutional investors.
To offset the extra shares outstanding, the company plans to buy back $1 billion worth of its …read more »
STATE STREET CORP. $59 (New York symbol STT; Aggressive Growth Portfolio, Finance sector; WSSF Rating: Average) provides custodial, research, accounting and other services to large institutional investors, such as pension plans and mutual funds.
The company gets about 80% of its revenue from management and other fees, while the remaining 20% comes from lending.
Equity markets have slumped in the past few …read more »
Uncertainty over interest rates, oil prices and the Mideast situation has hurt world equity markets in the past few months. However, we feel that this is a temporary setback, and not the start of a protracted bear market.
These three investment firms earn much of their income based on the value of the securities they manage. Consequently, the recent downturn has …read more »
UNISYS CORP. $6 (New York symbol UIS; WSSF Rating: Average) cut its losses in the three months ended March 31, 2006, to $0.08 a share (total $27.9 million) from $0.13 a share ($45.5 million) a year earlier, due to gains on the sale of assets and savings from a restructuring plan. Revenue crept up to $1.39 billion from $1.37 billion.
Sales …read more »
