Nichols & Pratt Advisers LLP MA Sells 1,900 Shares of State Street Co. (NYSE:STT)

Nichols & Pratt Advisers LLP MA decreased its holdings in State Street Co. (NYSE:STT) by 3.0% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 61,937 shares of the asset manager’s stock after selling 1,900 shares during the period. Nichols & Pratt Advisers LLP MA’s holdings in State Street were worth $4,583,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. LRI Investments LLC bought a new position in State Street in the 1st quarter worth approximately $25,000. Norwood Financial Corp bought a new position in shares of State Street during the first quarter worth $35,000. Versant Capital Management Inc grew its stake in State Street by 411.9% during the second quarter. Versant Capital Management Inc now owns 517 shares of the asset manager’s stock valued at $38,000 after acquiring an additional 416 shares in the last quarter. Accent Capital Management LLC purchased a new position in State Street during the fourth quarter valued at $39,000. Finally, Quarry LP bought a new stake in State Street in the 4th quarter valued at $39,000. Hedge funds and other institutional investors own 87.44% of the company’s stock.

Wall Street Analysts Forecast Growth

STT has been the subject of several research reports. Deutsche Bank Aktiengesellschaft dropped their price objective on shares of State Street from $80.00 to $79.00 and set a “hold” rating for the company in a report on Thursday, August 15th. Citigroup raised their price target on State Street from $85.00 to $90.00 and gave the company a “neutral” rating in a report on Monday, July 22nd. Evercore ISI upped their price objective on State Street from $88.00 to $91.00 and gave the stock an “outperform” rating in a report on Wednesday, July 17th. The Goldman Sachs Group increased their target price on State Street from $89.00 to $98.00 and gave the company a “buy” rating in a research report on Wednesday, July 17th. Finally, Wolfe Research restated an “underperform” rating and issued a $73.00 price target on shares of State Street in a research report on Monday, July 8th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and five have given a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $88.89.

State Street Trading Up 1.8 %

Shares of STT stock traded up $1.48 during trading hours on Friday, reaching $84.04. 2,364,882 shares of the stock were exchanged, compared to its average volume of 2,228,091. The firm has a market capitalization of $25.32 billion, a price-to-earnings ratio of 15.74, a price-to-earnings-growth ratio of 1.25 and a beta of 1.50. State Street Co. has a 12-month low of $62.78 and a 12-month high of $86.25. The company’s 50-day moving average price is $78.52 and its 200-day moving average price is $75.76. The company has a current ratio of 0.54, a quick ratio of 0.54 and a debt-to-equity ratio of 0.89.

State Street (NYSE:STT) last announced its earnings results on Tuesday, July 16th. The asset manager reported $2.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.03 by $0.12. State Street had a return on equity of 11.78% and a net margin of 8.98%. The business had revenue of $3.19 billion during the quarter, compared to analyst estimates of $3.15 billion. During the same quarter in the previous year, the business earned $2.17 earnings per share. The company’s revenue for the quarter was up 2.6% compared to the same quarter last year. As a group, equities analysts anticipate that State Street Co. will post 8.15 earnings per share for the current year.

State Street Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 11th. Shareholders of record on Tuesday, October 1st will be given a $0.76 dividend. This represents a $3.04 annualized dividend and a yield of 3.62%. The ex-dividend date of this dividend is Tuesday, October 1st. This is an increase from State Street’s previous quarterly dividend of $0.69. State Street’s dividend payout ratio is 56.93%.

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.