OLDWICK, N.J.--(BUSINESS WIRE)--AM Best has affirmed the Financial Strength Rating of A- (Excellent) and the Long-Term Issuer Credit Rating of “a-” (Excellent) of Federated Underwriting Company (Federated) (Colchester, VT). The outlook of these Credit Ratings (ratings) is stable. The ratings reflect Federated’s balance sheet strength, which AM Best assesses as very strong, as well as its adequate operating performance, limited business profile and appropriate enterprise risk management. The ratings also re ...

State Street Corporation (STT) completed the acquisition of CF Global Trading. STT entered the agreement in March 2023 in an effort to further expand its outsourced trading capabilities. Financial terms of the deal were undisclosed.CF Global Trading specializes in outsourced trading on an agency basis for a variety of asset classes, including equities, listed derivatives and fixed income. Its established team of traders has helped asset managers extend global trading infrastructure, improve access to liquid ...

BOSTON--(BUSINESS WIRE)--State Street Corporation (NYSE: STT) announced today that it has completed its acquisition of CF Global Trading, a global firm specializing in outsourced trading on an agency basis for a variety of asset classes including equities, listed derivatives and fixed income. Financial terms are not being disclosed. “Outsourced trading enables organizations to access new asset classes, prepare for regulatory shifts and navigate global markets while allowing them to focus on their strateg ...

BOSTON--(BUSINESS WIRE)--State Street Corporation (“State Street”) (NYSE: STT) announced today that it has issued $1.5 billion of depositary shares, each representing a 1/100th ownership interest in a share of its 6.700% Fixed Rate Reset Non-Cumulative Perpetual Preferred Stock, Series I (the “Series I Preferred Stock”), without par value per share, with a liquidation preference of $100,000 per share. The offering, which closed today, was structured in keeping with State Street’s ongoing inclusion, diversi ...

BOSTON--(BUSINESS WIRE)--State Street Corporation (NYSE: STT) announced today that its Chairman & Chief Executive Officer, Ron O’Hanley, and Vice Chairman & Chief Financial Officer, Eric Aboaf, will participate in the UBS Financial Services Conference in Key Biscayne, Florida on Tuesday, February 27, 2024, at 11:20 am ET. An audio webcast of the event and any materials will be accessible on the home page of State Street’s Investor Relations website, https://investors.statestreet.com. A recorded replay will ...

Getting big returns from financial portfolios, whether through stocks, bonds, ETFs, other securities, or a combination of all, is an investor's dream. But when you're an income investor, your primary focus is generating consistent cash flow from each of your liquid investments.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's earnings paid out to shareholders, and investors often view it by its di ...

State Street Corporation (NYSE:STT) Q4 2023 Results Conference Call January 19, 2024 11:00 AM ET Company Participants Ilene Fiszel Bieler - Global Head of Investors Relations Ron O'Hanley - Chief Executive Officer Eric Aboaf - Chief Financial Officer Conference Call Participants Alex Blostein - Goldman Sachs Brennan Hawken - UBS Glenn Schorr - Evercore Gerard Cassidy - RBC Jim Mitchell - Seaport Global Steven Chubak - Wolfe Research Ebrahim Poonawala - Bank of America Ryan Kenny - Morgan Stanley Mike Brown ...

State Street’s (STT) fourth-quarter 2023 adjusted earnings of $2.04 per share surpassed the Zacks Consensus Estimate of $1.81. The bottom line, however, declined 1.4% from the prior-year quarter.Shares of STT jumped almost 4.5% in pre-market trading on a better-than-expected quarterly performance.Results were primarily aided by stable fee revenues. Also, the company witnessed an improvement in total assets under custody and assets under management (AUM) balances. However, lower net interest revenues (NIR), ...

State Street Corporation (STT) reported $3.04 billion in revenue for the quarter ended December 2023, representing a year-over-year decline of 3.6%. EPS of $2.04 for the same period compares to $2.07 a year ago.The reported revenue represents a surprise of +3.43% over the Zacks Consensus Estimate of $2.94 billion. With the consensus EPS estimate being $1.81, the EPS surprise was +12.71%.While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations ...

State Street Corporation (STT) came out with quarterly earnings of $2.04 per share, beating the Zacks Consensus Estimate of $1.81 per share. This compares to earnings of $2.07 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 12.71%. A quarter ago, it was expected that this company would post earnings of $1.77 per share when it actually produced earnings of $1.93, delivering a surprise of 9.04%.Over the last four quarters, the c ...