|Bid||76.27 x 1000|
|Ask||76.29 x 1000|
|Day's range||76.01 - 78.02|
|52-week range||58.62 - 104.87|
|Beta (5Y monthly)||1.62|
|PE ratio (TTM)||10.82|
|Earnings date||17 Jan 2023 - 23 Jan 2023|
|Forward dividend & yield||2.52 (3.24%)|
|Ex-dividend date||30 Sept 2022|
|1y target est||81.36|
Money managers including State Street, Pimco and Amundi are pouring money into digital investment platforms in hopes of emulating BlackRock’s technology business, which is bringing in new revenue even as falling markets hit fees from their core investment clients. BlackRock got into the business of software as a service more than two decades ago. The world’s largest money manager now makes nearly 8 per cent of its revenue from selling technology to rival asset managers and other financial institutions.
(Reuters) -Custodian bank State Street Corp said on Wednesday it had agreed to terminate its $3.5 billion deal to buy the investor services business of Brown Brothers Harriman & Co (BBH). State Street's shares rose 5% to $77.64. The deal, announced in September 2021, would have given Boston-based State Street access to BBH's expertise in cross-border, alternatives, exchange-traded funds, and other high-growth asset classes.
BOSTON, November 30, 2022--State Street Corporation (NYSE: STT) today announced that it has mutually agreed with Brown Brothers Harriman & Co. (BBH) to terminate State Street’s proposed acquisition of BBH’s Investor Services business.