STATE STREET CORP. $71 - New York symbol STT

STATE STREET CORP. $71 (New York symbol STT; Aggressive Growth Portfolio, Finance sector; Shares outstanding: 439.0 million; Market cap: $31.2 billion; Price-to-sales ratio: 3.3; Dividend yield: 1.5%; TSINetwork Rating: Extra Risk; www. statestreet.com) sells accounting and administrative services to large institutional investors, such as mutual funds and pension plans.

The company’s fee income rises and falls with the value of the mutual funds and other securities it manages. Thanks to improving stock markets and new contracts, State Street’s earnings rose 13.5% in the three months ended September 30, 2013, to $537 million from $473 million a year earlier.

The company spent $560 million buying back its shares in the quarter. As a result, earnings per share gained 20.2%, to $1.19 from $0.99. Revenue increased 3.4%, to $2.5 billion from $2.4 billion.

State Street is a buy.

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Blue chip stocks are big, well-established, dividend-paying corporations with strong business prospects. These are companies that also have sound management that should be able to make the right moves to keep competing successfully in a changing marketplace.

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Value Stocks

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One of the sweetest and most profitable pleasures of successful investing is to buy high-quality “value stocks” (or stocks that are reasonably priced, if not cheap, in relation to its sales, earnings or assets), then hold on to them as mainstream investors recognize the value and push up the share price.

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