State Street Co. (NYSE:STT) Stock Holdings Lifted by Federated Hermes Inc.

Federated Hermes Inc. lifted its position in State Street Co. (NYSE:STT) by 25.7% in the 4th quarter, Holdings Channel reports. The fund owned 891,358 shares of the asset manager’s stock after buying an additional 182,394 shares during the period. Federated Hermes Inc.’s holdings in State Street were worth $87,487,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Norges Bank purchased a new position in shares of State Street during the fourth quarter valued at $161,021,000. Amundi grew its stake in State Street by 11.1% during the 4th quarter. Amundi now owns 5,602,547 shares of the asset manager’s stock valued at $547,636,000 after acquiring an additional 561,773 shares in the last quarter. Wellington Management Group LLP increased its holdings in shares of State Street by 818.1% in the 3rd quarter. Wellington Management Group LLP now owns 518,697 shares of the asset manager’s stock valued at $45,889,000 after purchasing an additional 462,201 shares during the period. Raymond James Financial Inc. purchased a new stake in shares of State Street in the fourth quarter worth approximately $44,070,000. Finally, National Bank of Canada FI boosted its holdings in shares of State Street by 99.4% during the third quarter. National Bank of Canada FI now owns 888,146 shares of the asset manager’s stock worth $78,574,000 after purchasing an additional 442,725 shares during the period. Institutional investors and hedge funds own 87.44% of the company’s stock.

Insider Buying and Selling

In other State Street news, EVP Ann Fogarty sold 3,705 shares of State Street stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $99.47, for a total transaction of $368,536.35. Following the sale, the executive vice president now owns 50,816 shares in the company, valued at $5,054,667.52. The trade was a 6.80 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Gregory L. Summe sold 10,815 shares of the stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $100.00, for a total transaction of $1,081,500.00. Following the completion of the transaction, the director now owns 100,023 shares of the company’s stock, valued at approximately $10,002,300. This represents a 9.76 % decrease in their position. The disclosure for this sale can be found here. 0.31% of the stock is owned by company insiders.

State Street Price Performance

Shares of NYSE:STT opened at $76.23 on Monday. The company has a market cap of $21.99 billion, a price-to-earnings ratio of 9.25, a PEG ratio of 1.11 and a beta of 1.42. The business has a 50 day moving average price of $94.09 and a 200 day moving average price of $94.58. The company has a quick ratio of 0.56, a current ratio of 0.56 and a debt-to-equity ratio of 1.03. State Street Co. has a twelve month low of $70.20 and a twelve month high of $103.00.

State Street (NYSE:STT) last announced its quarterly earnings data on Friday, January 17th. The asset manager reported $2.60 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.29 by $0.31. The business had revenue of $3.41 billion for the quarter, compared to the consensus estimate of $3.27 billion. State Street had a net margin of 12.14% and a return on equity of 12.60%. State Street’s quarterly revenue was up 12.1% on a year-over-year basis. During the same quarter last year, the company posted $2.04 earnings per share. Research analysts predict that State Street Co. will post 9.68 earnings per share for the current year.

State Street Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, April 11th. Investors of record on Tuesday, April 1st will be paid a $0.76 dividend. This represents a $3.04 annualized dividend and a dividend yield of 3.99%. The ex-dividend date of this dividend is Tuesday, April 1st. State Street’s payout ratio is presently 36.89%.

Analysts Set New Price Targets

STT has been the subject of a number of research analyst reports. Wells Fargo & Company cut their target price on shares of State Street from $118.00 to $113.00 and set an “overweight” rating for the company in a research report on Friday, March 28th. Wolfe Research raised State Street from an “underperform” rating to a “peer perform” rating in a research report on Monday, January 27th. Barclays upped their target price on State Street from $108.00 to $127.00 and gave the stock an “overweight” rating in a research report on Monday, January 6th. StockNews.com lowered State Street from a “buy” rating to a “hold” rating in a report on Friday, March 7th. Finally, Deutsche Bank Aktiengesellschaft restated a “hold” rating and issued a $103.00 price objective (down previously from $104.00) on shares of State Street in a report on Wednesday, January 22nd. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, State Street has a consensus rating of “Hold” and an average price target of $101.07.

State Street Company Profile

State Street Corporation, through its subsidiaries, provides a range of financial products and services to institutional investors worldwide. The company offers investment servicing products and services, including custody, accounting, regulatory reporting, investor, and performance and analytics; middle office products, such as IBOR, transaction management, loans, cash, derivatives and collateral, record keeping, and client reporting and investment analytics; finance leasing; foreign exchange, and brokerage and other trading services; securities finance and enhanced custody products; deposit and short-term investment facilities; investment manager and alternative investment manager operations outsourcing; performance, risk, and compliance analytics; and financial data management to support institutional investors.