Federated Hermes Inc. Has $130.81 Million Stock Holdings in State Street Corporation $STT

Federated Hermes Inc. increased its holdings in shares of State Street Corporation (NYSE:STT) by 8.1% in the 3rd quarter, HoldingsChannel reports. The firm owned 1,127,608 shares of the asset manager’s stock after acquiring an additional 84,814 shares during the period. Federated Hermes Inc.’s holdings in State Street were worth $130,814,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in STT. Brown Advisory Inc. boosted its holdings in shares of State Street by 0.5% during the 2nd quarter. Brown Advisory Inc. now owns 17,224 shares of the asset manager’s stock worth $1,832,000 after buying an additional 93 shares in the last quarter. Global Retirement Partners LLC lifted its position in shares of State Street by 7.7% during the 3rd quarter. Global Retirement Partners LLC now owns 1,470 shares of the asset manager’s stock valued at $171,000 after acquiring an additional 105 shares during the period. Security National Bank of SO Dak lifted its position in shares of State Street by 0.5% during the 2nd quarter. Security National Bank of SO Dak now owns 21,528 shares of the asset manager’s stock valued at $2,289,000 after acquiring an additional 105 shares during the period. Harbour Investments Inc. boosted its stake in State Street by 11.7% during the second quarter. Harbour Investments Inc. now owns 1,012 shares of the asset manager’s stock worth $108,000 after acquiring an additional 106 shares in the last quarter. Finally, Commerzbank Aktiengesellschaft FI grew its holdings in State Street by 0.6% in the third quarter. Commerzbank Aktiengesellschaft FI now owns 23,179 shares of the asset manager’s stock worth $2,689,000 after purchasing an additional 133 shares during the period. 87.44% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the stock. Keefe, Bruyette & Woods upped their price objective on shares of State Street from $132.00 to $135.00 and gave the company an “outperform” rating in a report on Monday, October 20th. Zacks Research lowered State Street from a “strong-buy” rating to a “hold” rating in a research report on Monday, December 1st. Evercore ISI increased their price target on State Street from $117.00 to $128.00 and gave the stock an “outperform” rating in a report on Tuesday, September 30th. Loop Capital set a $144.00 price objective on State Street in a research note on Tuesday, January 6th. Finally, Wall Street Zen raised State Street from a “sell” rating to a “hold” rating in a research report on Saturday, January 17th. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, State Street presently has a consensus rating of “Moderate Buy” and an average price target of $135.83.

State Street Price Performance

STT stock opened at $127.54 on Wednesday. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.59 and a current ratio of 0.61. The business has a 50-day simple moving average of $126.63 and a two-hundred day simple moving average of $118.11. The company has a market capitalization of $35.62 billion, a P/E ratio of 13.55, a price-to-earnings-growth ratio of 1.12 and a beta of 1.43. State Street Corporation has a 52-week low of $72.81 and a 52-week high of $137.05.

State Street (NYSE:STT) last posted its earnings results on Friday, January 16th. The asset manager reported $2.97 earnings per share for the quarter, beating analysts’ consensus estimates of $2.82 by $0.15. The company had revenue of $3.67 billion for the quarter, compared to analyst estimates of $3.57 billion. State Street had a return on equity of 13.46% and a net margin of 13.02%.The company’s revenue for the quarter was up 7.5% on a year-over-year basis. During the same quarter last year, the company earned $2.60 earnings per share. Research analysts expect that State Street Corporation will post 9.68 EPS for the current fiscal year.

State Street Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, January 12th. Shareholders of record on Friday, January 2nd were issued a dividend of $0.84 per share. This represents a $3.36 dividend on an annualized basis and a yield of 2.6%. The ex-dividend date of this dividend was Friday, January 2nd. State Street’s payout ratio is currently 35.71%.

State Street Profile

State Street Corporation is a global financial services company that provides a range of investment servicing, investment management and investment research and trading services to institutional investors. Its principal activities include custody and fund administration, securities lending, performance and risk analytics, trading and execution services, and foreign exchange. The company also offers investment management through State Street Global Advisors, a major provider of exchange-traded funds and institutional investment strategies.

State Street serves a broad client base of asset managers, insurance companies, pension funds, endowments, and other institutions across North America, Europe, Asia and other global markets.