Dernières nouvelles pour State Street (NYSE:STT) Stock

State Street

State Street is a leading provider of financial services, including investment servicing, investment management, and investment research and trading. With approximately $42 trillion in assets under custody and administration and $4.1 trillion assets under management as of Dec. 31, 2023, State Street operates globally in more than 100 geographic markets and employs more than 46,000 worldwide.

State Street Corp

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STANDARD URANIUM LTD by Standard Uranium Ltd.

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STATE STREET ORD

State Street Corporation Depositary shares, each representing a 1/4,000th ownership interest in a share of Fixed-to-Floating Rate Non-Cumulative

A wave of market-relevant news fueled an active trading session on Wall Street Tuesday, with large-cap indices falling due to sharp declines in tech and energy stocks, while small-caps outperformed, led by gains in regional banks.
At the forefront of the headlines is the massive plunge in ASML Holding NV (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ASML#NASDAQ">ASML</a>) shares. The Dutch chipmaker&#8217;s stock nosedived over 16% after a technical error prematurely revealed its third-quarter earnings, originally scheduled for Wednesday, <a href="https://www.benzinga.com/markets/equities/24/10/41339229/asml-earnings-leak-sparks-broad-semiconductor-sell-off-sector-down-sharply-as-dutch-chipmaker-lo">on the company&#8217;s website. </a>
The report disclosed weaker-than-expected guidance for 2025, leading to the worst single-day drop in ASML stock since it went public in 2002.
ASML&#8217;s collapse sent shockwaves across the semiconductor sector, with the iShares Semiconductor ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SOXX#NASDAQ">SOXX</a>) falling more than 4%, marking its worst performance since early September. Key semiconductor players were hit hard, with NVIDIA Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) down 5% and Arm Holdings PLC-ADR (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ARM#NASDAQ">ARM</a>) tumbling 7%.
Another underperforming sector was energy. Oil prices plunged 5%, setting up their <a href="https://www.benzinga.com/markets/asia/24/10/41336413/oil-prices-take-largest-plunge-in-over-a-year-as-israel-vows-to-spare-iranian-facilities-energy-stoc">worst trading day in over a year. </a>
The sell-off followed a Monday&#8217;s report from The Washington Post, which revealed Israeli Prime Minister Benjamin Netanyahu assured the Biden administration Israel would refrain from targeting Iranian oil and nuclear facilities in any retaliatory military actions.
Meanwhile, the financial sector surged, extending its all-time highs as Bank of America Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BAC#NYSE">BAC</a>), Goldman Sachs Group Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GS#NYSE">GS</a>), and Charles Schwab Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SCHW#NYSE">SCHW</a>) all posted <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/10/41331839/financial-sector-hits-record-highs-as-goldman-sachs-bank-of-america-citi-beat-q3-ea">stronger-than-expected quarterly earnings.</a>
Gains also spread to more economically sensitive regional banks, with the SPDR S&amp;P Regional Banking ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KRE#NYSE">KRE</a>) jumping over 3%, lifting the broader Russell 2000 index by 1%.
In other markets, both the U.S. dollar and Treasury yields remained steady, as there were no major updates on interest-rate expectations. Gold edged up by 0.6%, while Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) continued its recent momentum, climbing 1.3% after a 5.1% surge on Monday.
<h1 class="wp-block-heading">Tuesday&#8217;s Performance In Major U.S. Indices, ETFs</h1>
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td>Major Indices</td>
<td>Price</td>
<td>Chg (1-day) %</td>
</tr>
<tr>
<td>Russell 2000</td>
<td>2,272.05</td>
<td>1.0%</td>
</tr>
<tr>
<td>Dow Jones</td>
<td>42,942.79</td>
<td>-0.3%</td>
</tr>
<tr>
<td>S&amp;P 500</td>
<td>5,842.20</td>
<td>-0.3%</td>
</tr>
<tr>
<td>Nasdaq 100</td>
<td>20,221.22</td>
<td>-1.1%</td>
</tr>
</tbody>
</table>
<figcaption class="wp-element-caption">Updated at 12:45 p.m. ET</figcaption></figure>
According to <a href="https://bzresearch.myclickfunnels.com/benzinga-pro-content-webinar-registration/?utm_source=BZprocontent101524&amp;t=be2bearmibe3na1">Benzinga Pro</a> data:
<ul>
<li>The&nbsp;SPDR S&amp;P 500 ETF Trust&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) fell 0.4% to $581.82.</li>
<li>The&nbsp;SPDR Dow Jones Industrial Average&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DIA#NYSE">DIA</a>)&nbsp;inched 0.3% down to $429.46.</li>
<li>The tech-heavy Invesco QQQ Trust Series (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>) fell 1.1% to $491.72.</li>
<li>The iShares Russell 2000 ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IWM#NYSE">IWM</a>) rose 1% to $222.52.</li>
<li>The Financials Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLF#NYSE">XLF</a>) outperformed, up 1%. The Energy Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLE#NYSE">XLE</a>) lagged, down 2.3%.</li>
</ul>
<h1 class="wp-block-heading">Tuesday&#8217;s Stock Movers</h1>
<ul>
<li>Airlines and cruise lines rallied in reaction to lower oil prices. American Airlines Group Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAL#NASDAQ">AAL</a>) rose 2.2%, United Airlines Holdings Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/UAL#NASDAQ">UAL</a>) gained 2.2%. Carnival Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CCL#NYSE">CCL</a>) and Norwegian Cruise Line Holdings Ltd. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NCLH#NYSE">NCLH</a>) rallied 7.7% and 5.5%, respectively. </li>
<li>Charles Schwab rose 7.5% after reporting stronger-than-expected quarterly results. </li>
<li>Other stocks reacting to earnings were UnitedHealth Group Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UNH#NYSE">UNH</a>), down 7.4%; Johnson &amp; Johnson (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JNJ#NYSE">JNJ</a>), up 1.8%; Bank of America Corp., up 1.9%; Goldman Sachs Group Inc., down 0.3%; Citigroup Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/C#NYSE">C</a>), down 4%; PNC Financial Services Group Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PNC#NYSE">PNC</a>), up 4%; State Street Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/STT#NYSE">STT</a>), up 0.6% and Walgreens Boots Alliance Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WBA#NASDAQ">WBA</a>), up 13%</li>
<li>Companies slated to report earnings after the close include Interactive Brokers Group Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/IBKR#NASDAQ">IBKR</a>), United Arlines Holdings Inc., Omnicon Group Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/OMC#NYSE">OMC</a>) and J.B. Hunt Transport Services Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/JBHT#NASDAQ">JBHT</a>). </li>
</ul>
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Equities

Large Cap

Mid Cap

Sector ETFs

Broad U.S. Equity ETFs

Guidance

Commodities

Small Cap

Econ #s

Tech

ETFs

$BTC

ASML

SPDR Dow Jones Industrial Average ETF Trust

IBKR

JBHT

NCLH

NVDA

SCHW

iShares PHLX SOX Semiconductor Sector Index Fund

SOXX

Chipmaker Stocks Sink On ASML Earnings Leak, Oil Eyes Worst 1-Day Drop This Year, Small Caps Rally: What's Driving Markets Tuesday?

Earnings

News

State Street Signals Continued Strong Capital Returns In Q4, Potentially Exceeding $670M From Q3; Full-Year Payout Ratio Expected To Reach 80-90%; Aims For $500M In Productivity Savings By Year-End While Focusing On Growth Investments In Products And Technology

WIIM

State Street shares are trading higher after the company reported better-than-expected Q3 financial results and rose its AUM to $4.7 trillion.

State Street Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/STT#NYSE">STT</a>) reported strong third-quarter results, with earnings per share exceeding analyst expectations.
Quarterly earnings per share of $2.26 beat the analyst consensus estimate of $2.12. Quarterly sales of $3.26 billion<a target="_blank" href="https://www.benzinga.com/earnings" rel="noreferrer noopener"> outpaced the street view of $3.19 billion.</a>
Total revenue rose by 21%, largely due to the impact of a notable item from the previous year. Excluding notable items, <a target="_blank" href="https://www.benzinga.com/pressreleases/24/10/b41327504/state-street-corporation-nyse-stt-reports-third-quarter-2024-financial-results" rel="noreferrer noopener">total revenue increased by 9%.</a>
Fee revenue increased 11%, while NII increased 16%. Investment Management AUM as of quarter-end increased 29% to $4.7 trillion, reflecting higher quarter-end market levels and solid quarterly net inflows.
Also Read:<a target="_blank" href="https://www.benzinga.com/news/earnings/24/10/41326823/wall-street-on-edge-as-nasdaq-nears-record-high-oil-prices-plummet-strategist-says-theres-opportuni" rel="noreferrer noopener"> Wall Street On Edge As Nasdaq Nears Record High, Oil Prices Plummet: Strategist Says There&#8217;s Opportunity If Resilience Continues</a>
&#8220;Within Investment Services, we generated $466 billion of new AUC/A wins and reported two new Alpha mandates,&#8221; said Ron O&#8217;Hanley, Chairman and Chief Executive Officer.
The CEO added that the Global Markets franchise experienced increased client penetration, and Global Advisors achieved quarterly net inflows of $100 billion, bolstered by a strong performance in the Cash&nbsp;business.
The standardized common equity tier 1 (CET1) ratio at the end of the third quarter of 2024 was 11.6%, an increase of 0.6 percentage points from the previous quarter and 0.4 percentage points from the second quarter of 2024.
This growth was primarily driven by earnings-generated capital and improved accumulated other comprehensive income (AOCI), partially offset by ongoing capital returns and higher risk-weighted assets (RWA).
CFO To Step Down: The firm announced that Eric Aboaf, Vice Chairman and Chief Financial Officer (CFO), has decided to leave State Street in February 2025.
State Street has initiated its succession plan with both internal and external search processes.
Aboaf, however, will remain with the company and collaborate closely with the team until February to ensure a smooth transition.
Price Action: STT shares are trading higher by 1.45% to $92.25 premarket at last check Tuesday.
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Management

Markets

Movers

General

State Street Q3 Earnings: AUM Soars To $4.7T, Announces CFO Eric Aboaf's Departure In 2025

State Street Says Eric Aboaf, Vice Chairman And CFO, Has Made Decision To Accept New Opportunity Outside Of Banking; Expected To Leave Company In February 2025

State Street (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/STT#NYSE">STT</a>) reported quarterly earnings of $2.26 per share which beat the analyst consensus estimate of $2.12 by 6.6 percent. The company reported quarterly sales of $3.26 billion which beat the analyst consensus estimate of $3.19 billion by 2.09 percent. This is a 21.11 percent increase over sales of $2.69 billion the same period last year.

Earnings Beats

State Street Q3 2024 GAAP EPS $2.26 Beats $2.12 Estimate, Sales $3.26B Beat $3.19B Estimate

State Street (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/STT#NYSE">STT</a>) is set to give its latest quarterly earnings report on Tuesday, 2024-10-15. Here's what investors need to know before the announcement.
Analysts estimate that State Street will report an earnings per share (EPS) of $2.13. 
The announcement from State Street is eagerly anticipated, with investors seeking news of surpassing estimates and favorable guidance for the next quarter.
It's worth noting for new investors that guidance can be a key determinant of stock price movements.
<h3>Past Earnings Performance</h3>
During the last quarter, the company reported an EPS beat by $0.12, leading to a 0.61% increase in the share price on the subsequent day.
Here's a look at State Street's past performance and the resulting price change:

<table>
<thead>
<tr>
<th>Quarter</th>
<th>Q2 2024</th>
<th>Q1 2024</th>
<th>Q4 2023</th>
<th>Q3 2023</th>
</tr>
</thead>
<tbody>
<tr>
<td>EPS Estimate</td>
<td>2.03</td>
<td>1.50</td>
<td>1.83</td>
<td>1.81</td>
</tr>
<tr>
<td>EPS Actual</td>
<td>2.15</td>
<td>1.69</td>
<td>2.04</td>
<td>1.93</td>
</tr>
<tr>
<td>Price Change %</td>
<td>1.0%</td>
<td>3.0%</td>
<td>2.0%</td>
<td>-3.0%</td>
</tr>
</tbody>
</table>

<img src="https://www.benzinga.com/files/images/story/2024/1728914465_0.png" alt="eps graph" />
<h3>State Street Share Price Analysis</h3>
Shares of State Street were trading at $89.83 as of October 11. Over the last 52-week period, shares are up 34.0%. Given that these returns are generally positive, long-term shareholders are likely bullish going into this earnings release. 
<h3>Analysts' Perspectives on State Street</h3>
For investors, staying informed about market sentiments and expectations in the industry is paramount. This analysis provides an exploration of the latest insights on State Street.
Analysts have given State Street a total of 13 ratings, with the consensus rating being Neutral. The average one-year price target is $92.77, indicating a potential 3.27% upside.
<h3>Understanding Analyst Ratings Among Peers</h3>
The analysis below examines the analyst ratings and average 1-year price targets of Ares Management, Blue Owl Cap and Franklin Resources, three significant industry players, providing valuable insights into their relative performance expectations and market positioning.
<ul>
<li>The prevailing sentiment among analysts is an Neutral trajectory for Ares Management, with an average 1-year price target of $158.5, implying a potential 76.44% upside.</li>
<li>Analysts currently favor an Outperform trajectory for Blue Owl Cap, with an average 1-year price target of $21.5, suggesting a potential 76.07% downside.</li>
<li>For Franklin Resources, analysts project an Neutral trajectory, with an average 1-year price target of $21.66, indicating a potential 75.89% downside.</li>
</ul>
<h3>Comprehensive Peer Analysis Summary</h3>
Within the peer analysis summary, vital metrics for Ares Management, Blue Owl Cap and Franklin Resources are presented, shedding light on their respective standings within the industry and offering valuable insights into their market positions and comparative performance.

<table>
<thead>
<tr>
<th>Company</th>
<th>Consensus</th>
<th>Revenue Growth</th>
<th>Gross Profit</th>
<th>Return on Equity</th>
</tr>
</thead>
<tbody>
<tr>
<td>T. Rowe Price Gr</td>
<td>Neutral</td>
<td>7.65%</td>
<td>$911.50M</td>
<td>4.77%</td>
</tr>
<tr>
<td>Ares Management</td>
<td>Neutral</td>
<td>-20.67%</td>
<td>$718.06M</td>
<td>5.04%</td>
</tr>
<tr>
<td>Blue Owl Cap</td>
<td>Outperform</td>
<td>31.88%</td>
<td>$322.75M</td>
<td>2.00%</td>
</tr>
<tr>
<td>Franklin Resources</td>
<td>Neutral</td>
<td>7.82%</td>
<td>$1.70B</td>
<td>1.29%</td>
</tr>
</tbody>
</table>

Key Takeaway:
State Street ranks in the middle for consensus rating among its peers. It ranks at the bottom for revenue growth. It ranks at the top for gross profit. It ranks in the middle for return on equity.
<h3>Get to Know State Street Better</h3>
State Street is a leading provider of financial services, including investment servicing, investment management, and investment research and trading. With approximately $42 trillion in assets under custody and administration and $4.1 trillion assets under management as of Dec. 31, 2023, State Street operates globally in more than 100 geographic markets and employs more than 46,000 worldwide.
<h3>State Street's Economic Impact: An Analysis</h3>
Market Capitalization Analysis: Reflecting a smaller scale, the company's market capitalization is positioned below industry averages. This could be attributed to factors such as growth expectations or operational capacity.
Revenue Growth: Over the 3 months period, State Street showcased positive performance, achieving a revenue growth rate of 2.6% as of 30 June, 2024. This reflects a substantial increase in the company's top-line earnings. In comparison to its industry peers, the company trails behind with a growth rate lower than the average among peers in the Financials sector.
Net Margin: State Street's net margin lags behind industry averages, suggesting challenges in maintaining strong profitability. With a net margin of 20.53%, the company may face hurdles in effective cost management.
Return on Equity (ROE): State Street's ROE is below industry averages, indicating potential challenges in efficiently utilizing equity capital. With an ROE of 2.96%, the company may face hurdles in achieving optimal financial returns.
Return on Assets (ROA): State Street's ROA lags behind industry averages, suggesting challenges in maximizing returns from its assets. With an ROA of 0.2%, the company may face hurdles in achieving optimal financial performance.
Debt Management: The company faces challenges in debt management with a debt-to-equity ratio higher than the industry average. With a ratio of 1.49, caution is advised due to increased financial risk.
<a href="https://www.benzinga.com/quote/STT/earnings">To track all earnings releases for State Street visit their earnings calendar on our site.</a>
This article was generated by Benzinga's automated content engine and reviewed by an editor.

A Preview Of State Street's Earnings

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FITB

FNWD

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HSBC

NYCB

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UPST

Shares of banking and financial services stocks are trading higher following better-than-expected financial results from JPMorgan Chase and Wells Fargo.

Morgan Stanley analyst Connor Lynagh maintains State Street (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/STT#NYSE">STT</a>) with a Equal-Weight and raises the price target from $93 to $100.

Price Target

Analyst Ratings

Morgan Stanley Maintains Equal-Weight on State Street, Raises Price Target to $100

Top Wall Street analysts changed their outlook on these top names. For a complete view of all analyst rating changes, including upgrades and downgrades, please see our <a href="https://www.benzinga.com/analyst-stock-ratings">analyst ratings page</a>.
<ul>
<li>Bernstein raised the price target for Starbucks Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SBUX#NASDAQ">SBUX</a>) from $92 to $115. Bernstein analyst Danilo Gargiulo upgraded the stock from Market Perform to Outperform. Starbucks shares rose 1.2% to close at $95.62 on Wednesday. <a href="https://www.benzinga.com/quote/SBUX/analyst-ratings">See how other analysts view this stock.</a></li>
<li>JMP Securities increased the price target for Meta Platforms, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>) from $550 to $635. JMP Securities analyst Andrew Boone maintained a Market Outperform rating. Meta shares gained 0.9% to close at $568.31 on Wednesday. <a href="https://www.benzinga.com/quote/META/analyst-ratings">See how other analysts view this stock</a>.</li>
<li>Keybanc raised Crocs, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CROX#NYSE">CROX</a>) price target from $149 to $155. Keybanc analyst Ashley Owens maintained an Overweight rating. Crocs shares fell 1.2% to close at $143.04 on Wednesday. <a href="https://www.benzinga.com/quote/CROX/analyst-ratings">See how other analysts view this stock</a>.</li>
<li>Baird boosted McDonald&#8217;s Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MCD#NYSE">MCD</a>) price target from $280 to $320. Baird analyst David Tarantino maintained an Outperform rating. McDonald&#8217;s shares rose 0.1% to close at $300.47 on Wednesday. <a href="https://www.benzinga.com/quote/MCD/analyst-ratings">See how other analysts view this stock.</a></li>
<li>Baird raised Cintas Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CTAS#NASDAQ">CTAS</a>) price target from $194 to $209. Baird analyst Andrew Wittmann maintained a Neutral rating. Cintas shares gained 1.2% to close at $207.21 on Wednesday. <a href="https://www.benzinga.com/quote/CTAS/analyst-ratings">See how other analysts view this stock</a>.</li>
<li>Keybanc raised the price target for On Holding AG (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ONON#NYSE">ONON</a>) from $47 to $60. Keybanc analyst Ashley Owens maintained an Overweight rating. On Holding fell 0.7% to close at $50.20 on Wednesday. <a href="https://www.benzinga.com/quote/ONON/analyst-ratings">See how other analysts view this stock</a>.</li>
<li>BMO Capital raised Lightspeed Commerce Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LSPD#NYSE">LSPD</a>) price target from $18 to $20. BMO Capital analyst Thanos Moschopoulos maintained an Outperform rating. Lightspeed Commerce shares jumped 12.9% to close at $15.68 on Wednesday. <a href="https://www.benzinga.com/quote/LSPD/analyst-ratings">See how other analysts view this stock</a>.</li>
<li>Piper Sandler raised the price target for Ecolab Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ECL#NYSE">ECL</a>) from $270 to $305. Piper Sandler analyst Charles Neivert maintained an Overweight rating. Ecolab shares gained 0.2% to close at $254.82 on Wednesday. <a href="https://www.benzinga.com/quote/ECL/analyst-ratings">See how other analysts view this stock</a>.</li>
<li>Benchmark raised Flutter Entertainment plc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FLUT#NYSE">FLUT</a>) price target from $255 to $265. Benchmark analyst Mike Hickey maintained a Buy rating. Flutter Entertainment shares gained 5.1% to close at $239.86 on Wednesday. <a href="https://www.benzinga.com/quote/FLUT/analyst-ratings">See how other analysts view this stock</a>.</li>
<li>Goldman Sachs increased State Street Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/STT#NYSE">STT</a>) price target from $98 to $100. Goldman Sachs analyst Alexander Blostein maintained a Buy rating. State Street shares fell 0.5% to close at $88.50 on Wednesday. <a href="https://www.benzinga.com/quote/STT/analyst-ratings">See how other analysts view this stock</a>.</li>
</ul>
Considering buying META stock? Here&#8217;s what analysts think: 
<figure class="wp-block-image size-large is-resized"><img loading="lazy" decoding="async" width="1024" height="514" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/09/26084433/image-213-1024x514.png" alt="" class="wp-image-567631" style="width:586px;height:auto" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/09/26084433/image-213-1024x514.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/09/26084433/image-213-300x151.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/09/26084433/image-213-768x386.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/09/26084433/image-213.png 1316w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>
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Meta To Rally Around 12%? Here Are 10 Top Analyst Forecasts For Thursday

Goldman Sachs analyst Alexander Blostein maintains State Street (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/STT#NYSE">STT</a>) with a Buy and raises the price target from $98 to $100.

Goldman Sachs Maintains Buy on State Street, Raises Price Target to $100

Analysts' ratings for State Street (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/STT#NYSE">STT</a>) over the last quarter vary from bullish to bearish, as provided by 15 analysts.
In the table below, you'll find a summary of their recent ratings, revealing the shifting sentiments over the past 30 days and comparing them to the previous months.
<table>
<thead>
<tr>
<th></th>
<th style="text-align: right;">Bullish</th>
<th style="text-align: right;">Somewhat Bullish</th>
<th style="text-align: right;">Indifferent</th>
<th style="text-align: right;">Somewhat Bearish</th>
<th style="text-align: right;">Bearish</th>
</tr>
</thead>
<tbody>
<tr>
<td>Total Ratings</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">4</td>
<td style="text-align: right;">8</td>
<td style="text-align: right;">2</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>Last 30D</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>1M Ago</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>2M Ago</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>3M Ago</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">4</td>
<td style="text-align: right;">6</td>
<td style="text-align: right;">2</td>
<td style="text-align: right;">0</td>
</tr>
</tbody>
</table>
Analysts have set 12-month price targets for State Street, revealing an average target of $89.07, a high estimate of $103.00, and a low estimate of $73.00. Marking an increase of 3.05%, the current average surpasses the previous average price target of $86.43. 
<img src="https://www.benzinga.com/files/images/story/2024/1727100028_0.png" alt="price target chart" />
<h2>Breaking Down Analyst Ratings: A Detailed Examination</h2>
In examining recent analyst actions, we gain insights into how financial experts perceive State Street. The following summary outlines key analysts, their recent evaluations, and adjustments to ratings and price targets.
<table>
<thead>
<tr>
<th>Analyst</th>
<th>Analyst Firm</th>
<th>Action Taken</th>
<th>Rating</th>
<th>Current Price Target</th>
<th>Prior Price Target</th>
</tr>
</thead>
<tbody>
<tr>
<td>Brian Bedell</td>
<td>Deutsche Bank</td>
<td>Raises</td>
<td>Hold</td>
<td>$87.00</td>
<td>$79.00</td>
</tr>
<tr>
<td>Brian Bedell</td>
<td>Deutsche Bank</td>
<td>Lowers</td>
<td>Hold</td>
<td>$79.00</td>
<td>$80.00</td>
</tr>
<tr>
<td>Keith Horowitz</td>
<td>Citigroup</td>
<td>Raises</td>
<td>Neutral</td>
<td>$90.00</td>
<td>$85.00</td>
</tr>
<tr>
<td>Mike Mayo</td>
<td>Wells Fargo</td>
<td>Raises</td>
<td>Overweight</td>
<td>$98.00</td>
<td>$91.00</td>
</tr>
<tr>
<td>Connor Lynagh</td>
<td>Morgan Stanley</td>
<td>Raises</td>
<td>Equal-Weight</td>
<td>$93.00</td>
<td>$90.00</td>
</tr>
<tr>
<td>Alexander Blostein</td>
<td>Goldman Sachs</td>
<td>Raises</td>
<td>Buy</td>
<td>$98.00</td>
<td>$89.00</td>
</tr>
<tr>
<td>Jason Goldberg</td>
<td>Barclays</td>
<td>Raises</td>
<td>Overweight</td>
<td>$103.00</td>
<td>$102.00</td>
</tr>
<tr>
<td>Brian Bedell</td>
<td>Deutsche Bank</td>
<td>Raises</td>
<td>Hold</td>
<td>$80.00</td>
<td>$75.00</td>
</tr>
<tr>
<td>Glenn Schorr</td>
<td>Evercore ISI Group</td>
<td>Raises</td>
<td>Outperform</td>
<td>$91.00</td>
<td>$88.00</td>
</tr>
<tr>
<td>Gerard Cassidy</td>
<td>RBC Capital</td>
<td>Raises</td>
<td>Sector Perform</td>
<td>$91.00</td>
<td>$85.00</td>
</tr>
<tr>
<td>Ebrahim Poonawala</td>
<td>B of A Securities</td>
<td>Raises</td>
<td>Underperform</td>
<td>$96.00</td>
<td>$85.00</td>
</tr>
<tr>
<td>Steven Chubak</td>
<td>Wolfe Research</td>
<td>Announces</td>
<td>Underperform</td>
<td>$73.00</td>
<td>-</td>
</tr>
<tr>
<td>Glenn Schorr</td>
<td>Evercore ISI Group</td>
<td>Maintains</td>
<td>Outperform</td>
<td>$88.00</td>
<td>$88.00</td>
</tr>
<tr>
<td>Gerard Cassidy</td>
<td>RBC Capital</td>
<td>Maintains</td>
<td>Sector Perform</td>
<td>$85.00</td>
<td>$85.00</td>
</tr>
<tr>
<td>David Konrad</td>
<td>Keefe, Bruyette &amp; Woods</td>
<td>Lowers</td>
<td>Market Perform</td>
<td>$84.00</td>
<td>$88.00</td>
</tr>
</tbody>
</table>
<h3>Key Insights:</h3>
<ul>
<li>Action Taken: Analysts adapt their recommendations to changing market conditions and company performance. Whether they 'Maintain', 'Raise' or 'Lower' their stance, it reflects their response to recent developments related to State Street. This information provides a snapshot of how analysts perceive the current state of the company.</li>
<li>Rating: Analysts assign qualitative assessments to stocks, ranging from 'Outperform' to 'Underperform'. These ratings convey the analysts' expectations for the relative performance of State Street compared to the broader market.</li>
<li>Price Targets: Understanding forecasts, analysts offer estimates for State Street's future value. Examining the current and prior targets provides insight into analysts' changing expectations.</li>
</ul>
Navigating through these analyst evaluations alongside other financial indicators can contribute to a holistic understanding of State Street's market standing. Stay informed and make data-driven decisions with our Ratings Table.
<a href="https://www.benzinga.com/quote/STT/analyst-ratings?utm_source=Benzinga Insights">Stay up to date on State Street analyst ratings.</a>
<h2>Discovering State Street: A Closer Look</h2>
State Street is a leading provider of financial services, including investment servicing, investment management, and investment research and trading. With approximately $42 trillion in assets under custody and administration and $4.1 trillion assets under management as of Dec. 31, 2023, State Street operates globally in more than 100 geographic markets and employs more than 46,000 worldwide.
<h3>Understanding the Numbers: State Street's Finances</h3>
Market Capitalization Analysis: The company's market capitalization is below the industry average, suggesting that it is relatively smaller compared to peers. This could be due to various factors, including perceived growth potential or operational scale.
Revenue Growth: State Street's remarkable performance in 3 months is evident. As of 30 June, 2024, the company achieved an impressive revenue growth rate of 2.6%. This signifies a substantial increase in the company's top-line earnings. When compared to others in the Financials sector, the company faces challenges, achieving a growth rate lower than the average among peers.
Net Margin: The company's net margin is below industry benchmarks, signaling potential difficulties in achieving strong profitability. With a net margin of 20.53%, the company may need to address challenges in effective cost control.
Return on Equity (ROE): State Street's ROE is below industry averages, indicating potential challenges in efficiently utilizing equity capital. With an ROE of 2.96%, the company may face hurdles in achieving optimal financial returns.
Return on Assets (ROA): The company's ROA is below industry benchmarks, signaling potential difficulties in efficiently utilizing assets. With an ROA of 0.2%, the company may need to address challenges in generating satisfactory returns from its assets.
Debt Management: With a high debt-to-equity ratio of 1.49, State Street faces challenges in effectively managing its debt levels, indicating potential financial strain.
<h2>The Core of Analyst Ratings: What Every Investor Should Know</h2>
Experts in banking and financial systems, analysts specialize in reporting for specific stocks or defined sectors. Their comprehensive research involves attending company conference calls and meetings, analyzing financial statements, and engaging with insiders to generate what are known as analyst ratings for stocks. Typically, analysts assess and rate each stock once per quarter.
In addition to their assessments, some analysts extend their insights by offering predictions for key metrics such as earnings, revenue, and growth estimates. This supplementary information provides further guidance for traders. It is crucial to recognize that, despite their specialization, analysts are human and can only provide forecasts based on their beliefs.
Breaking: Wall Street's Next Big Mover
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This article was generated by Benzinga's automated content engine and reviewed by an editor.

Deep Dive Into State Street Stock: Analyst Perspectives (15 Ratings)

Deutsche Bank analyst Brian Bedell maintains State Street (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/STT#NYSE">STT</a>) with a Hold and raises the price target from $79 to $87.

Deutsche Bank Maintains Hold on State Street, Raises Price Target to $87

Apollo Global Management, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/APO#NYSE">APO</a>) shares are trading lower on Wednesday. On Tuesday, Apollo Global Management partnered with State Street Corporation&#8216;s (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/STT#NYSE">STT</a>) State Street Global Advisors to broaden investor <a target="_blank" href="https://www.benzinga.com/pressreleases/24/09/b40792241/state-street-global-advisors-and-apollo-global-management-join-forces-to-increase-and-broaden-inve" rel="noreferrer noopener">access to private market opportunities</a>.
This partnership between Apollo and State Street Global Advisors aims to broaden access to private markets and offer investment opportunities.
By leveraging their combined strengths, the companies will enhance investor access to the private credit market.
Also Read: <a target="_blank" href="https://www.benzinga.com/news/earnings/24/07/39988603/apollo-bets-6-3b-on-gaming-industry-with-igt-and-everi-deal" rel="noreferrer noopener">Apollo Bets $6.3B on Gaming Industry with IGT and Everi Deal</a>
As of June 30, 2024, Apollo reported over $145 billion in origination over the past year, driven by its credit business and a network of 16 standalone platforms.
Marc Rowan, co-founder and chief executive officer of Apollo Global Management, said, &#8220;At Apollo, we believe investors will increasingly supplement their portfolios with private fixed income and equity strategies as they seek to build resilient and diversified portfolios to serve their retirement and investment needs.&#8221;
Last week, Apollo disclosed that its Aligned Alternatives platform has agreed to acquire Beequip, a Netherlands-<a target="_blank" href="https://www.benzinga.com/pressreleases/24/09/g40724513/apollo-to-acquire-dutch-equipment-leasing-specialist-beequip-from-nibc" rel="noreferrer noopener">based equipment leasing specialist, from NIBC</a>.
Investors can gain exposure to the BX stock via&nbsp;EA Series Trust WHITEWOLF Publicly Listed Private Equity ETF (BATS:<a class="ticker" href="https://www.benzinga.com/stock/LBO#BATS">LBO</a>) and&nbsp;Fidelity Disruptive Finance ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FDFF#NASDAQ">FDFF</a>).
Price Action: APO shares are down 1.73% at $104.90 at the last check Wednesday.
Image via Unsplash/ Headway
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Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

FDFF

Apollo And State Street Team Up to Unlock Private Market Fortunes: Details

State Street Global Advisors Is Working With Apollo To Expand Investor Access To Private Asset Exposure Through ETFs And Other Investment Products Advised By State Street

&quot;This partnership is very important for State Street,&quot; said Stefan Gmuer, head of Asia Pacific and head of Strategic Business Growth at State Street. &quot;The mandate reaffirms our front to back proposition which brings value, scale and efficiency to our clients who are looking to accelerate their own growth and transformation. It also further cements our position as a leading provider of choice for large, sophisticated transactions.&quot;
Challenger will be one of the largest investment managers in the region to deploy the State Street Alpha&reg;&nbsp;platform, an asset servicing platform integrating the front, middle and back office from a single provider.

Reported Earlier, State Street Chosen By Challenger To Manage Custody And Investment Administration For Multi-Billion-Dollar Portfolio

All investors love getting big returns from their portfolio, whether it&#39;s through stocks, bonds, ETFs, or other types of securities. But for income investors, generating consistent cash flow from each of your liquid investments is your primary focus.
Cash flow can come from bond interest, interest from other types of investments, and of course, dividends. A dividend is that coveted distribution of a company&#39;s earnings paid out to shareholders, and investors often view it by its dividend yield, a metric that measures the dividend as a percent of the current stock price. Many academic studies show that dividends make up large portions of long-term returns, and in many cases, dividend contributions surpass one-third of total returns.
<h2>State Street Corporation in Focus</h2>
Headquartered in Boston, State Street Corporation (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/stt#NYSE">STT</a>) is a Finance stock that has seen a price change of 10.35% so far this year. The company is paying out a dividend of $0.69 per share at the moment, with a dividend yield of 3.23% compared to the Banks - Major Regional industry&#39;s yield of 3.32% and the S&amp;P 500&#39;s yield of 1.56%.
Looking at dividend growth, the company&#39;s current annualized dividend of $2.76 is up 4.5% from last year. State Street Corporation has increased its dividend 4 times on a year-over-year basis over the last 5 years for an average annual increase of 7.56%. Future dividend growth will depend on earnings growth as well as payout ratio, which is the proportion of a company&#39;s annual earnings per share that it pays out as a dividend. Right now, State Street&#39;s payout ratio is 35%, which means it paid out 35% of its trailing 12-month EPS as dividend.
Looking at this fiscal year, STT expects solid earnings growth. The Zacks Consensus Estimate for 2024 is $8.13 per share, which represents a year-over-year growth rate of 6.14%.
<h2>Bottom Line</h2>
Investors like dividends for many reasons; they greatly improve stock investing profits, decrease overall portfolio risk, and carry tax advantages, among others. However, not all companies offer a quarterly payout.
For instance, it&#39;s a rare occurrence when a tech start-up or big growth business offers their shareholders a dividend. It&#39;s more common to see larger companies with more established profits give out dividends. Income investors have to be mindful of the fact that high-yielding stocks tend to struggle during periods of rising interest rates. That said, they can take comfort from the fact that STT is not only an attractive dividend play, but also represents a compelling investment opportunity with a Zacks Rank of #2 (Buy).
<a href="https://www.zacks.com/stock/news/2328410/state-street-corporation-stt-is-a-top-dividend-stock-right-now-should-you-buy?cid=CS-BENZ-FT-tale_of_the_tape|yseop_template_5-2328410">To read this article on Zacks.com click here.</a>

Dividends

State Street Corporation is a Top Dividend Stock Right Now: Should You Buy?

U.S. Bancorp&#39;s (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/usb#NYSE">USB</a>) shares have gained 12% in the past three months, outperforming the industry&#39;s growth of 5.1% and the S&amp;P 500&#39;s rise of 5.8%. USB is currently trading just 1% off its 52-week high of $45.88 hit on Jul 30.&nbsp;
<img alt="Zacks Investment Research" src="https://staticx-tuner.zacks.com/images/articles/charts/7a/75446.jpg?v=1073431410" />
Image Source: Zacks Investment Research
The company&#39;s inorganic growth move and strong balance sheet will support its financials in the long term.
Analyst Estimates: Over the past seven days, the Zacks Consensus Estimate for earnings per share of $3.89 and $4.23 has remained unchanged for 2024 and 2025, respectively. Although the metrics indicate a decline of 9.74% in 2024, it will rebound and grow 8.7% in 2025.
Now let&#39;s discuss some key factors that could provide further impetus to USB stock.
Inorganic Expansion to Drive Growth: U.S. Bancorp has made several strategic acquisitions in the last few years, which have opened up new markets for the company while fortifying its existing markets.
In August 2024, USB&#39;s lead banking division, U.S. Bank, prolonged its focus on the healthcare industry with the acquisition of Salucro Healthcare Solutions LLC. The buyout was completed on Aug 21, 2024.&nbsp;In the same month, U.S. Bank entered into a strategic partnership with Edward Jones. The collaboration is intended to offer comprehensive banking and credit card solutions to Edward Jones clients.
In 2022, U.S. Bancorp completed the acquisition of MUFG Union Bank&#39;s core regional banking franchise, expanding its branch network and enjoying greater access to digital banking tools. In 2023, cost synergies of $900 million were realized from this merger.
Overall, these strategic acquisitions and partnerships are likely to bolster U.S. Bancorp&#39;s market position, diversify its revenue streams and drive long-term growth.
Fed&#39;s Rate Cut Decision to Aid Financial: The Fed chairman, Jerome Powell, signaled that the central bank will start cutting interest rates beginning September. This is a positive development for banks, including USB, reeling under high funding cost pressure. At present, interest rates are at a 23-year high of 5.25-5.5% and acting like a double-edged sword for the banks. While high rates have led to a significant jump in NII, they have driven up funding costs, thus squeezing banks&#39; margins.
U.S. Bancorp&#39;s NII witnessed a four-year compound annual growth rate (CAGR) of 7.5% through 2019-2023. The metric witnessed a decline in the first half of 2024 due to rising funding costs. Also, net interest margin witnessed a downward trend in the first half of 2024.
As the Fed begins rate cuts, it will likely lead the funding costs to stabilize, thus supporting USB&#39;s NII. Also, lower interest rates are expected to encourage consumers and businesses to borrow. Such increased loan activity can result in larger profitability for U.S. Bancorp as it can earn more interest on these loans.
Strong Balance Sheet Position: U.S. Bancorp has a strong balance sheet. As of Jun 30, 2024, the company had a long-term debt of $52.72 billion. Cash and due from banks was $65.83 billion as of the same date, reflecting a strong liquidity position.
It enjoys long-term investment-grade credit ratings of A, A+, and A3 from Standard &amp; Poor&#39;s, Fitch, and Moody&#39;s, respectively. This renders U.S. Bancorp&#39;s favorable access to debt at attractive rates. Hence, with a record of impressive earnings strength and decent cash levels, it carries low credit risk and has a lesser likelihood of defaulting interest and debt repayments if the economic situation worsens.
Strong Capital Position: U.S. Bancorp&#39;s focus on maintaining a strong capital position will support its capital distribution activities. As of Jun 30, 2024, the company&#39;s capital ratios remain at a decent level, with a Common Equity Tier 1 ratio and a total risk-based capital ratio of 10.3% and 14%, respectively.
In June 2024, USB announced its plan to increase dividends by 2% to 50 cents per share, effective in the fourth quarter of 2024. The company increased its dividend four times in the past five years. Currently, its payout ratio is 50% of earnings.
Through stable dividend payouts, the company will boost investor&#39;s confidence in the stock.
<h2>Few Concerns Prevail</h2>
Mounting Expenses: Rising costs remain a concern for U.S. Bancorp. The company&#39;s non-interest expenses saw a CAGR of 10% over the last four years (2019-2023). This primarily stemmed from higher merger and integration charges, compensation and employee benefits, net occupancy and equipment expenses, as well as technology and communications expenditures. Although non-interest expenses declined in the first half of 2024, any further rise in technology-led initiatives will likely elevate the company&#39;s cost base, which is likely to hinder bottom-line growth.
Lack of Loan Portfolio Diversification: A significant part of U.S. Bancorp&#39;s loan portfolio &mdash; 49.8% as of Jun 30, 2024 &mdash; comprises total commercial loans (commercial and commercial real estate lending). The current rapidly changing macroeconomic backdrop may put some strain on commercial lending. Also, in case of any economic downturn, the asset quality of the credit category might deteriorate.
<h2>Parting Thoughts</h2>
U.S. Bancorp&#39;s inorganic expansion efforts, robust balance sheet and strong capital position are likely to bolster its financials. Also, the Fed&#39;s recent announcement of rate cuts starting this September will further support UBS&#39; growth trajectory. However, the rising expense base and lack of diversification in its loan portfolio remain significant concerns.
Thus, investors should not rush to buy this Zacks Rank #3 (Hold) stock. Rather, they can wait for a better entry point.
<h2>Stocks Worth Considering</h2>
Some better-ranked finance stocks are JPMorgan Chase &amp; Co. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/jpm#NYSE">JPM</a>) and State Street Corporation (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/stt#NYSE">STT</a>).
JPMorgan&#39;s current-year earnings estimates have been revised marginally upward in the past 30 days. JPM currently carries a Zacks Rank #2 (Buy).
The consensus estimate for State Street Corporation&#39;s current-year earnings has also been revised marginally upward over the past 30 days. STT currently carries a Zacks Rank #2.
<a href="https://www.zacks.com/stock/news/2327277/u-s-bancorp-usb-rises-12-in-3-months-more-upside-left?cid=CS-BENZ-FT-analyst_blog|price_surge_/_plunge-2327277">To read this article on Zacks.com click here.</a>

Federal Reserve

U.S. Bancorp Rises 12% in 3 Months: More Upside Left?

The much-awaited earnings report from artificial intelligence stalwart Nvidia Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) is around the corner and analysts expect <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/08/40457660/top-analyst-says-nvidia-poised-for-strong-q2-results-theres-still-a-ton-of-spending">another quarter of robust performance from the company.</a> The earnings report of the Jensen Huang-led company is vital for the continuation of the market rally, according to market strategists.
The Street View: For the second quarter of fiscal 2025, analysts, on average, expect earnings of $0.64 per share and revenue of $28.68 billion, according to data available on Benzinga Pro data. This compares to the year-ago numbers of 25 cents (split-adjusted) in earnings and $13.51 billion in revenue.
It is widely expected that Nvidia shares, which are up over 160% year-to-date, could rally further if quarterly results beat the high bar and the management offers positive commentary regarding AI accelerators&#8217; production and ramp-up. 
The average analysts&#8217; one-year price target for Nvidia shares, based on data compiled by TipRanks, is $149.89, which points to roughly 16% upside from current levels. 
See Also: <a href="https://www.benzinga.com/money/best-artificial-intelligence-stocks">Best AI Stocks</a>
Biggest Beneficiaries: Nvidia is undoubtedly a retail favorite now but the bulk of the shares (66.75% of the outstanding shares) are held by institutions, and insiders account for 4.29%, according to the Yahoo Finance database. The top institutions holding a big chunk of shares are as follows:
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td>Institutions/Insiders</td>
<td>No of Shares Held</td>
<td>% Of total Outstanding Shares</td>
</tr>
<tr>
<td>Vanguard Group Inc</td>
<td>2.15M</td>
<td>8.72%</td>
</tr>
<tr>
<td>BlackRock, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BLK#NYSE">BLK</a>)</td>
<td>1.84M</td>
<td>7.48%</td>
</tr>
<tr>
<td>Fidelity Investments</td>
<td>1.04M</td>
<td>4.24%</td>
</tr>
<tr>
<td>State Street Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/STT#NYSE">STT</a>)</td>
<td>0.982M</td>
<td>3.99%</td>
</tr>
<tr>
<td>Jensen Huang (CEO)</td>
<td>0.862M</td>
<td>3.50%</td>
</tr>
<tr>
<td>Geode Capital Management</td>
<td>0.535M</td>
<td>2.17%</td>
</tr>
<tr>
<td>Price T Rowe Associates</td>
<td>0.445M</td>
<td>1.81%</td>
</tr>
<tr>
<td>JPMorgan Chase &amp; Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JPM#NYSE">JPM</a>)</td>
<td>0.391M</td>
<td>1.59%</td>
</tr>
<tr>
<td>Morgan Stanley (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MS#NYSE">MS</a>)</td>
<td>0.337M</td>
<td>1.37%</td>
</tr>
<tr>
<td>Norges Bank Investment Management</td>
<td>0.292M</td>
<td>1.19%</td>
</tr>
</tbody>
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Huang is among the AI billionaires, whose wealth rose in geometric proportion amid the rising popularity and the large-scale adoption of the technology. Forbes estimates Huang&#8217;s wealth at $113 billion, and he is ranked 20 on the publication&#8217;s billionaires list.
Nvidia closed Friday&#8217;s session up 4.55% at $129.37 on Friday and the stock was up an incremental 0.83% in Monday&#8217;s premarket session, according to <a href="https://benzinga.grsm.io/register174">Benzinga Pro data.</a>
Read Next:
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<li><a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/08/40479226/nvidia-down-about-10-from-all-time-highs-prominent-trader-says-he-has-cashed-out-of">Nvidia Down About 10% From All-Time Highs: Prominent Trader Says He Has Cashed Out Of The Stock Barely A Week Ahead Of Earnings And Will &#8216;Decide On Re-entering&#8217; Later</a></li>
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Nvidia Earnings Round The Corner: Top Investors In Jensen Huang's Company Set To Benefit If Q2 Appeases Street

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