STATE STREET CORP. $58 (New York symbol STT; Aggressive Growth Portfolio, Finance sector; Shares outstanding: 395.9 million; Market cap: $23.0 billion; Price-to-sales ratio: 2.3; Dividend yield: 2.3%; TSINetwork Rating: Average; www.statestreet.com) sells accounting and administrative services to large institutional investors such as mutual funds and pension plans.
State Street recently agreed to buy General Electric’s asset management business for $485 million. This operation manages pension plans and other portfolios for over 100 institutional investors.
The purchase will add $100 billion to the company’s $2.3 trillion in assets under management (as of March 31, 2016). Its income rises and falls with the value of the mutual funds and other securities it manages.
In addition, State Street is currently restructuring its operations by cutting jobs and outsourcing some of its computer systems. The plan should cut $100 million from its annual costs by the end of 2016.
These factors should increase its 2016 earnings per share by 6.5%, to $4.76. The stock trades at a low 12.2 times that forecast. The $1.36 dividend yields 2.3%.
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Privacy Policy and Terms of Use
The Successful Investor Inc. and its affiliate Successful Investor Wealth Management (referred to hereafter as TSI Network) know that you care how information about you is used and shared, and we appreciate your trust that we will do so carefully and sensibly. This notice describes our privacy policy. By visiting websites owned by or associated with TSI Network, you are accepting the practices described in this Privacy Policy.
This privacy policy is applicable to all TSI Network Visitors, Clients, Employees, Suppliers, Web sites, Management, and all other interested parties. Any links to or from our site are not covered by this policy. We encourage you to read the privacy policies of every site that you visit.
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We do not collect or disclose personal information, except when it is provided to us voluntarily by the site/store visitor with their consent.
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We are continuously in the process of improving our sites and services. If any new features or policies require a change to this current policy, we will post a clear notice of this change on pages of our site where the privacy policy appears. The principle behind this privacy policy is to collect information with your knowledge and consent.
What personal information do we collect?
The information we receive from customers helps us personalize and continually improve your online experience at TSI Network. TSI Network may collect personal information online for all legal purposes, which include, but are not limited to:
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Does TSI Network Use the Information It Receives?
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Changes to this Policy
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