Nichols & Pratt Advisers LLP MA Sells 2,725 Shares of State Street Co. (NYSE:STT)

Nichols & Pratt Advisers LLP MA lessened its stake in shares of State Street Co. (NYSE:STT) by 3.8% in the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 69,787 shares of the asset manager’s stock after selling 2,725 shares during the quarter. Nichols & Pratt Advisers LLP MA’s holdings in State Street were worth $5,406,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. CVA Family Office LLC bought a new position in shares of State Street during the fourth quarter worth approximately $27,000. Venturi Wealth Management LLC raised its holdings in shares of State Street by 92.5% during the 4th quarter. Venturi Wealth Management LLC now owns 383 shares of the asset manager’s stock worth $30,000 after buying an additional 184 shares in the last quarter. Turtle Creek Wealth Advisors LLC acquired a new stake in State Street in the fourth quarter valued at about $35,000. Bruce G. Allen Investments LLC bought a new position in State Street in the fourth quarter valued at about $51,000. Finally, Annis Gardner Whiting Capital Advisors LLC bought a new position in shares of State Street in the third quarter worth about $72,000. Institutional investors and hedge funds own 87.44% of the company’s stock.

Analysts Set New Price Targets

STT has been the subject of several research reports. Royal Bank of Canada increased their target price on State Street from $75.00 to $85.00 and gave the company a “sector perform” rating in a research report on Monday, January 22nd. Keefe, Bruyette & Woods dropped their price target on shares of State Street from $89.00 to $86.00 and set a “market perform” rating for the company in a research note on Monday, January 22nd. JPMorgan Chase & Co. increased their price objective on State Street from $79.50 to $80.50 in a report on Friday, April 12th. Argus boosted their target price on shares of State Street from $84.00 to $86.00 and gave the company a “buy” rating in a report on Monday, April 15th. Finally, UBS Group raised their price objective on shares of State Street from $80.00 to $82.00 and gave the stock a “neutral” rating in a research report on Friday, April 12th. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and five have given a buy rating to the stock. According to MarketBeat, State Street has an average rating of “Hold” and a consensus price target of $84.04.

State Street Stock Performance

Shares of NYSE:STT traded up $0.60 during midday trading on Friday, reaching $76.86. 403,237 shares of the company traded hands, compared to its average volume of 2,335,787. The firm has a market capitalization 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. State Street Co. has a 12 month low of $62.78 and a 12 month high of $79.90. The firm’s fifty day moving average price is $74.38 and its two-hundred day moving average price is $73.26. The company has a quick ratio of 0.61, a current ratio of 0.61 and a debt-to-equity ratio of 0.90.

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

State Street Announces Dividend

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

Insider Activity

In other State Street news, EVP Anthony Bisegna sold 2,606 shares of the business’s stock in a transaction 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 sale, the executive vice president now directly owns 17,737 shares of the company’s stock, valued at $1,294,801. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, EVP Anthony Bisegna sold 2,606 shares of the stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $73.00, for a total transaction of $190,238.00. Following the completion of the sale, the executive vice president now directly owns 17,737 shares in the company, valued at $1,294,801. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Eric W. Aboaf sold 12,000 shares of the company’s 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 sale, the chief financial officer now owns 149,063 shares in the company, valued at approximately $11,015,755.70. The disclosure for this sale can be found here. In the last 90 days, insiders sold 18,864 shares of company stock valued at $1,390,597. Corporate insiders own 0.31% of the company’s stock.

About State Street

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.