Nichols & Pratt Advisers LLP MA Sells 5,740 Shares of State Street Co. (NYSE:STT)

Nichols & Pratt Advisers LLP MA lessened its position in State Street Co. (NYSE:STTFree Report) by 7.3% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 72,512 shares of the asset manager’s stock after selling 5,740 shares during the period. Nichols & Pratt Advisers LLP MA’s holdings in State Street were worth $4,855,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Deutsche Bank AG lifted its position in State Street by 1.1% during the third quarter. Deutsche Bank AG now owns 2,198,676 shares of the asset manager’s stock valued at $147,223,000 after purchasing an additional 23,506 shares during the period. Letko Brosseau & Associates Inc. lifted its position in State Street by 0.5% during the third quarter. Letko Brosseau & Associates Inc. now owns 913,715 shares of the asset manager’s stock valued at $61,182,000 after purchasing an additional 4,870 shares during the period. 1620 Investment Advisors Inc. bought a new position in State Street in the third quarter worth approximately $2,312,000. Blair William & Co. IL raised its position in State Street by 29.3% in the third quarter. Blair William & Co. IL now owns 24,707 shares of the asset manager’s stock worth $1,654,000 after acquiring an additional 5,594 shares during the period. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its position in State Street by 9.9% in the third quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 64,068 shares of the asset manager’s stock worth $4,290,000 after acquiring an additional 5,772 shares during the period. Institutional investors own 89.62% of the company’s stock.

State Street Stock Performance

STT opened at $72.84 on Monday. The stock has a market capitalization of $22.48 billion, a price-to-earnings ratio of 13.27, a PEG ratio of 1.46 and a beta of 1.53. The company has a fifty day moving average of $75.56 and a 200 day moving average of $71.01. State Street Co. has a fifty-two week low of $62.78 and a fifty-two week high of $94.74. The company has a debt-to-equity ratio of 0.86, a quick ratio of 0.51 and a current ratio of 0.55.

State Street (NYSE:STTGet Free Report) last released its quarterly earnings data on Friday, January 19th. The asset manager reported $2.04 EPS for the quarter, beating the consensus estimate of $1.83 by $0.21. State Street had a net margin of 10.59% and a return on equity of 11.86%. The business had revenue of $3.04 billion during the quarter, compared to analyst estimates of $2.95 billion. During the same quarter last year, the business earned $2.07 earnings per share. State Street’s quarterly revenue was down 3.5% compared to the same quarter last year. As a group, sell-side analysts forecast that State Street Co. will post 7.84 earnings per share for the current fiscal year.

State Street Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, January 12th. Shareholders of record on Tuesday, January 2nd were given a dividend of $0.69 per share. The ex-dividend date was Friday, December 29th. This represents a $2.76 annualized dividend and a yield of 3.79%. State Street’s dividend payout ratio (DPR) is currently 50.27%.

Analysts Set New Price Targets

Several research analysts have weighed in on STT shares. Keefe, Bruyette & Woods decreased their price target on shares of State Street from $89.00 to $86.00 and set a “market perform” rating on the stock in a research report on Monday, January 22nd. Royal Bank of Canada increased their price target on shares of State Street from $75.00 to $85.00 and gave the stock a “sector perform” rating in a research report on Monday, January 22nd. Wells Fargo & Company reissued an “overweight” rating and issued a $83.00 price objective on shares of State Street in a research note on Wednesday, December 6th. Barclays increased their price objective on shares of State Street from $87.00 to $102.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 2nd. Finally, UBS Group increased their price objective on shares of State Street from $70.00 to $82.00 and gave the stock a “neutral” rating in a research note on Tuesday, January 9th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $81.83.

Check Out Our Latest Stock Report on State Street

State Street Company Profile

(Free Report)

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; foreign exchange, and brokerage and other trading services; securities finance and enhanced custody products; deposit and short-term investment facilities; loans and lease financing; investment manager and alternative investment manager operations outsourcing; performance, risk, and compliance analytics; and financial data management to support institutional investors.

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Institutional Ownership by Quarter for State Street (NYSE:STT)

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