State Street (STT) News & Sentiment

Joanna Gallegos, co-founder and COO of BondBloxx, and Todd Sohn, a senior ETF and technical strategist at Strategas Securities, join CNBC's Bob Pisani on 'ETF Edge' to discuss the recent developments surrounding the State Street private credit ETF filing. They explain what is involved in the filing process and the reasons behind the SEC's investigation.

On Friday, State Street's asset management division removed its targets for the number of women and minority directors on corporate boards, as stated in new proxy voting guidelines on its website. This decision aligns with similar moves by other large asset managers facing political pressure, which may slow down the progress towards more diverse boardrooms. This change is particularly notable for State Street, which had previously promoted gender diversity in business with the installation of the "Fearless Girl" statue in March 2017.

Wall Street is keen to offer private equity and credit opportunities to a wider audience, and ETFs are a clear choice for this purpose.

Dividends are a major advantage of being a shareholder, but identifying a good dividend stock can be challenging. Does State Street Corporation (STT) meet the criteria?

BOSTON--(BUSINESS WIRE)--State Street Corporation (NYSE:STT) has declared a quarterly cash dividend of $0.76 per share for its common stock, which will be paid on April 11, 2025, to shareholders who are on record by the end of business on April 1, 2025. The company also announced a cash dividend for each series of its non-cumulative perpetual preferred stock, including Series G, which is represented by depositary shares that each represent a 1/4000th interest in a share of Series G preferred stock.

BOSTON--(BUSINESS WIRE)--State Street Corporation (“State Street”) (NYSE: STT) has announced the issuance of $750 million in depositary shares, each representing a 1/100th ownership in its 6.450% Fixed Rate Reset Non-Cumulative Perpetual Preferred Stock, Series K, which has a liquidation preference of $100,000 per share. In line with its recent securities offerings, State Street reached a wide range of investors through a varied syndicate.

Marvin Loh, a senior global macro strategist at State Street, believes in a bear steepening trend, which makes him cautious about fully committing to long-term bonds.

Dividends are a major advantage of being a shareholder, but identifying a good dividend stock can be challenging. Does State Street Corporation (STT) meet the criteria?

State Street's stock (NYSE: STT), which offers various financial services to institutional investors, reported Q4 2024 results that exceeded expectations. Since the beginning of 2024, the stock has risen by around 30%, slightly outperforming the S&P 500, but it has lagged behind its competitor, Bank of New York Mellon, whose stock has increased by more than 60% during the same time.