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State Street Corporation STT Stock Quote

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Morningstar‘s Stock Analysis STT

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Schwab and LPL Financial Are Our Picks for Rising Interest Rates; Goldman Sachs for Falling Rates

Michael Wong, CFA, CPA Sector Director

Analyst Note

| Michael Wong, CFA, CPA |

Many investment service firms (wealth managers, retail brokerages, custody banks, and asset managers) have material exposure to interest rates. Clients at wealth management firms and retail brokerages typically have 5%-20% of their account balance in cash that the financial institution sweeps into a bank subsidiary. The deposits are then used to make loans or invest in fixed-income securities. They may also earn asset management or distribution fees on client assets in money market funds.

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Key Statistics STT

Company Profile STT

Business Description

State Street is a leading provider of financial services, including investment servicing, investment management, and investment research and trading. With approximately $43.7 trillion in assets under custody and administration and $4.1 trillion assets under management as of Dec. 31, 2021, State Street operates globally in more than 100 geographic markets and employs more than 38,000 worldwide.

One Lincoln Street
Boston, MA, 02111
T +1 617 786-3000
Industry Asset Management
Most Recent Earnings Jun 30, 2022
Fiscal Year End Dec 31, 2022
Stock Type Cyclical
Employees 40,354

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