Nichols & Pratt Advisers LLP MA Lowers Position in State Street Co. (NYSE:STT)

Nichols & Pratt Advisers LLP MA lessened its holdings in State Street Co. (NYSE:STT) by 3.8% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 69,787 shares of the asset manager’s stock after selling 2,725 shares during the period. Nichols & Pratt Advisers LLP MA’s holdings in State Street were worth $5,406,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Invesco Ltd. grew its holdings in State Street by 0.3% in the 3rd quarter. Invesco Ltd. now owns 10,434,030 shares of the asset manager’s stock valued at $698,663,000 after buying an additional 29,190 shares during the period. Northern Trust Corp raised its stake in shares of State Street by 4.1% in the 3rd quarter. Northern Trust Corp now owns 4,624,813 shares of the asset manager’s stock valued at $309,677,000 after purchasing an additional 180,093 shares in the last quarter. LSV Asset Management grew its stake in State Street by 0.7% in the fourth quarter. LSV Asset Management now owns 3,658,731 shares of the asset manager’s stock worth $283,405,000 after purchasing an additional 23,756 shares in the last quarter. Metropolis Capital Ltd increased its holdings in State Street by 18.4% in the fourth quarter. Metropolis Capital Ltd now owns 3,462,044 shares of the asset manager’s stock valued at $268,170,000 after buying an additional 537,431 shares during the last quarter. Finally, Deutsche Bank AG lifted its holdings in State Street by 1.1% during the 3rd quarter. Deutsche Bank AG now owns 2,198,676 shares of the asset manager’s stock worth $147,223,000 after buying an additional 23,506 shares during the last quarter. 87.44% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other State Street news, EVP Anthony Bisegna sold 2,606 shares of State Street stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $73.00, for a total value of $190,238.00. Following the completion of the sale, the executive vice president now owns 17,737 shares in the company, valued at approximately $1,294,801. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, EVP Anthony Bisegna sold 2,606 shares of the business’s stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $73.00, for a total value of $190,238.00. Following the completion of the transaction, the executive vice president now directly owns 17,737 shares in the company, valued at approximately $1,294,801. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Eric W. Aboaf sold 12,000 shares of the stock in a transaction dated Thursday, February 29th. The stock was sold at an average price of $73.90, for a total transaction of $886,800.00. Following the completion of the transaction, the chief financial officer now directly owns 149,063 shares of the company’s stock, valued at approximately $11,015,755.70. The disclosure for this sale can be found here. Insiders sold 18,864 shares of company stock worth $1,390,597 over the last three months. Insiders own 0.31% of the company’s stock.

State Street Trading Up 0.8 %

NYSE STT traded up $0.60 during trading on Friday, reaching $76.86. 403,237 shares of the stock traded hands, compared to its average volume of 2,335,787. State Street Co. has a fifty-two week low of $62.78 and a fifty-two week high of $79.90. The company has a quick ratio of 0.61, a current ratio of 0.61 and a debt-to-equity ratio of 0.90. The firm has a market cap of $23.15 billion, a price-to-earnings ratio of 14.28, a price-to-earnings-growth ratio of 1.32 and a beta of 1.52. The stock’s 50-day moving average price is $74.38 and its 200 day moving average price is $73.26.

State Street (NYSE:STT) last posted its quarterly earnings results on Friday, April 12th. The asset manager reported $1.69 earnings per share for the quarter, topping the consensus estimate of $1.48 by $0.21. State Street had a return on equity of 12.03% and a net margin of 9.62%. The firm had revenue of $3.14 billion for the quarter, compared to analyst estimates of $3.06 billion. Analysts predict that State Street Co. will post 7.96 EPS for the current year.

State Street Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, April 11th. Shareholders of record on Monday, April 1st were issued a $0.69 dividend. The ex-dividend date of this dividend was Thursday, March 28th. This represents a $2.76 annualized dividend and a yield of 3.59%. State Street’s dividend payout ratio is currently 51.69%.

Analyst Upgrades and Downgrades

STT has been the subject of a number of research reports. Keefe, Bruyette & Woods decreased their price objective on shares of State Street from $89.00 to $86.00 and set a “market perform” rating for the company in a report on Monday, January 22nd. Evercore ISI boosted their target price on shares of State Street from $85.00 to $88.00 and gave the stock an “outperform” rating in a report on Thursday, April 4th. Argus lifted their target price on State Street from $84.00 to $86.00 and gave the stock a “buy” rating in a report on Monday, April 15th. JPMorgan Chase & Co. boosted their price objective on State Street from $79.50 to $80.50 in a report on Friday, April 12th. Finally, Royal Bank of Canada boosted their price target on shares of State Street from $75.00 to $85.00 and gave the company a “sector perform” rating in a report on Monday, January 22nd. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $84.04.

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.