State Street Co. (NYSE:STT) Stock Position Decreased by Nichols & Pratt Advisers LLP MA

Nichols & Pratt Advisers LLP MA lowered its position in State Street Co. (NYSE:STT) by 5.0% during the 4th quarter, Holdings Channel.com reports. The firm owned 52,232 shares of the asset manager’s stock after selling 2,775 shares during the quarter. Nichols & Pratt Advisers LLP MA’s holdings in State Street were worth $5,127,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently made changes to their positions in the company. Jacobi Capital Management LLC increased its stake in shares of State Street by 1.0% in the fourth quarter. Jacobi Capital Management LLC now owns 12,232 shares of the asset manager’s stock valued at $1,201,000 after purchasing an additional 121 shares during the period. Metis Global Partners LLC boosted its holdings in shares of State Street by 4.4% in the fourth quarter. Metis Global Partners LLC now owns 10,000 shares of the asset manager’s stock valued at $982,000 after acquiring an additional 420 shares in the last quarter. SVB Wealth LLC bought a new stake in State Street during the fourth quarter worth approximately $2,307,000. Tower Bridge Advisors bought a new stake in State Street during the fourth quarter worth approximately $233,000. Finally, Consilium Wealth Advisory LLC purchased a new stake in shares of State Street in the 4th quarter valued at approximately $1,087,000. Institutional investors and hedge funds own 87.44% of the company’s stock.

Insider Activity

In other State Street news, Director Gregory L. Summe sold 10,815 shares of the business’s stock in a transaction dated Tuesday, February 18th. The shares were 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 of the company’s stock, valued at approximately $10,002,300. The trade was a 9.76 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Ann Fogarty sold 3,705 shares of State Street stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $99.47, for a total transaction of $368,536.35. Following the sale, the executive vice president now owns 50,816 shares of the company’s stock, valued at approximately $5,054,667.52. This represents a 6.80 % decrease in their position. The disclosure for this sale can be found here. 0.31% of the stock is owned by company insiders.

State Street Stock Performance

NYSE STT opened at $99.45 on Friday. The company has a debt-to-equity ratio of 1.03, a current ratio of 0.56 and a quick ratio of 0.56. The firm has a market capitalization of $28.69 billion, a price-to-earnings ratio of 12.07, a P/E/G ratio of 1.11 and a beta of 1.43. The company’s fifty day moving average is $98.59 and its two-hundred day moving average is $93.51. State Street Co. has a 52-week low of $70.20 and a 52-week high of $103.00.

State Street (NYSE:STT) last posted its quarterly earnings results on Friday, January 17th. The asset manager reported $2.60 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.29 by $0.31. The company had revenue of $3.41 billion for the quarter, compared to analyst estimates of $3.27 billion. State Street had a net margin of 12.14% and a return on equity of 12.60%. The business’s quarterly revenue was up 12.1% on a year-over-year basis. During the same period last year, the business posted $2.04 EPS. Equities research analysts forecast that State Street Co. will post 9.68 EPS for the current year.

State Street Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 11th. Stockholders of record on Tuesday, April 1st will be given a dividend of $0.76 per share. The ex-dividend date of this dividend is Tuesday, April 1st. This represents a $3.04 annualized dividend and a dividend yield of 3.06%. State Street’s dividend payout ratio (DPR) is currently 36.89%.

Analyst Ratings Changes

Several equities research analysts recently commented on STT shares. Keefe, Bruyette & Woods upgraded shares of State Street from a “market perform” rating to an “outperform” rating and upped their price target for the company from $105.00 to $120.00 in a research report on Tuesday, December 3rd. Wolfe Research upgraded shares of State Street from an “underperform” rating to a “peer perform” rating in a research report on Monday, January 27th. Morgan Stanley cut their target price on shares of State Street from $139.00 to $132.00 and set an “overweight” rating for the company in a research report on Friday, January 3rd. Wells Fargo & Company increased their target price on shares of State Street from $108.00 to $118.00 and gave the stock an “overweight” rating in a research report on Thursday, January 2nd. Finally, Truist Financial cut their target price on shares of State Street from $106.00 to $104.00 and set a “hold” rating for the company in a research report on Tuesday, January 21st. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat, State Street currently has an average rating of “Hold” and an average target price of $100.73.

State Street 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.