State Street Co. (NYSE:STT) Shares Acquired by Federated Hermes Inc.

Federated Hermes Inc. grew its position in shares of State Street Co. (NYSE:STT - Free Report) by 25.7% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 891,358 shares of the asset manager's stock after acquiring an additional 182,394 shares during the period. Federated Hermes Inc. owned about 0.30% of State Street worth $87,487,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Albion Financial Group UT bought a new stake in State Street in the fourth quarter worth $25,000. Y.D. More Investments Ltd grew its stake in shares of State Street by 116.6% in the 4th quarter. Y.D. More Investments Ltd now owns 366 shares of the asset manager's stock valued at $36,000 after buying an additional 197 shares during the period. Kohmann Bosshard Financial Services LLC acquired a new position in shares of State Street during the 4th quarter worth about $42,000. Loomis Sayles & Co. L P boosted its stake in State Street by 187.3% in the fourth quarter. Loomis Sayles & Co. L P now owns 477 shares of the asset manager's stock valued at $47,000 after acquiring an additional 311 shares in the last quarter. Finally, Friedenthal Financial acquired a new stake in shares of State Street in the fourth quarter valued at approximately $49,000. 87.44% of the stock is owned by institutional investors.

Insider Buying and Selling at State Street

In other news, EVP Ann Fogarty sold 3,705 shares of the business's stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $99.47, for a total value of $368,536.35. Following the completion of the transaction, the executive vice president now owns 50,816 shares of the company's stock, 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 SEC, which is available at the SEC website. Also, Director Gregory L. Summe sold 10,815 shares of the stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $100.00, for a total value of $1,081,500.00. Following the completion of the transaction, the director now directly owns 100,023 shares in the company, valued at $10,002,300. This trade represents a 9.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.31% of the stock is currently owned by company insiders.

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State Street Price Performance

STT traded up $0.41 during trading on Friday, hitting $79.41. 2,338,352 shares of the company traded hands, compared to its average volume of 2,197,923. The stock's 50-day simple moving average is $91.04 and its two-hundred day simple moving average is $93.99. State Street Co. has a 1 year low of $70.20 and a 1 year high of $103.00. The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 1.03. The company has a market cap of $22.92 billion, a PE ratio of 9.64, a P/E/G ratio of 1.11 and a beta of 1.42.

State Street (NYSE:STT - Get Free Report) last posted its quarterly earnings results on Friday, January 17th. The asset manager reported $2.60 EPS for the quarter, beating the consensus estimate of $2.29 by $0.31. State Street had a net margin of 12.14% and a return on equity of 12.60%. The company had revenue of $3.41 billion for the quarter, compared to analyst estimates of $3.27 billion. During the same period in the prior year, the company earned $2.04 earnings per share. The firm's revenue was up 12.1% on a year-over-year basis. As a group, sell-side analysts anticipate that State Street Co. will post 9.68 earnings per share for the current fiscal year.

State Street Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, April 11th. Stockholders of record on Tuesday, April 1st were given a $0.76 dividend. The ex-dividend date of this dividend was Tuesday, April 1st. This represents a $3.04 dividend on an annualized basis and a dividend yield of 3.83%. State Street's dividend payout ratio (DPR) is presently 36.89%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on STT shares. JPMorgan Chase & Co. upgraded shares of State Street from an "underweight" rating to a "neutral" rating and set a $95.00 price target for the company in a report on Friday, December 20th. Truist Financial reduced their target price on shares of State Street from $104.00 to $89.00 and set a "hold" rating on the stock in a report on Friday, April 4th. Bank of America increased their price target on State Street from $98.00 to $99.00 and gave the company an "underperform" rating in a report on Wednesday, April 2nd. Deutsche Bank Aktiengesellschaft reaffirmed a "hold" rating and set a $103.00 target price (down from $104.00) on shares of State Street in a report on Wednesday, January 22nd. Finally, Morgan Stanley lowered their price target on State Street from $139.00 to $132.00 and set an "overweight" rating on the stock in a report on Wednesday, April 2nd. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and seven have given a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price 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.