Nichols & Pratt Advisers LLP MA Sells 2,720 Shares of State Street Corporation (NYSE:STT)

Nichols & Pratt Advisers LLP MA cut its holdings in State Street Corporation (NYSE:STT - Free Report) by 5.2% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 49,512 shares of the asset manager's stock after selling 2,720 shares during the period. Nichols & Pratt Advisers LLP MA's holdings in State Street were worth $4,433,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the business. Sequoia Financial Advisors LLC raised its position in State Street by 2.7% in the first quarter. Sequoia Financial Advisors LLC now owns 4,414 shares of the asset manager's stock worth $395,000 after acquiring an additional 118 shares during the period. Moors & Cabot Inc. raised its position in State Street by 0.7% in the fourth quarter. Moors & Cabot Inc. now owns 18,332 shares of the asset manager's stock worth $1,799,000 after acquiring an additional 131 shares during the period. MassMutual Private Wealth & Trust FSB raised its position in State Street by 13.1% in the first quarter. MassMutual Private Wealth & Trust FSB now owns 1,157 shares of the asset manager's stock worth $104,000 after acquiring an additional 134 shares during the period. Huntington National Bank raised its position in shares of State Street by 1.3% during the 4th quarter. Huntington National Bank now owns 11,671 shares of the asset manager's stock valued at $1,146,000 after purchasing an additional 150 shares during the period. Finally, UMB Bank n.a. raised its position in shares of State Street by 8.4% during the 1st quarter. UMB Bank n.a. now owns 2,272 shares of the asset manager's stock valued at $203,000 after purchasing an additional 176 shares during the period. 87.44% of the stock is currently owned by institutional investors.

Insider Activity

In related news, CAO Elizabeth Schaefer sold 1,300 shares of the firm's stock in a transaction that occurred on Tuesday, May 6th. The stock was sold at an average price of $90.72, for a total transaction of $117,936.00. Following the completion of the sale, the chief accounting officer directly owned 7,354 shares of the company's stock, valued at approximately $667,154.88. This trade represents a 15.02% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.29% of the company's stock.

State Street Price Performance

NYSE:STT opened at $110.31 on Friday. The firm has a market capitalization of $31.46 billion, a price-to-earnings ratio of 12.38, a PEG ratio of 1.27 and a beta of 1.45. State Street Corporation has a 1 year low of $72.65 and a 1 year high of $110.80. The business has a 50 day simple moving average of $97.31 and a 200-day simple moving average of $94.46. The company has a debt-to-equity ratio of 1.07, a current ratio of 0.57 and a quick ratio of 0.57.

State Street (NYSE:STT - Get Free Report) last posted its quarterly earnings data on Thursday, April 17th. The asset manager reported $2.04 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.98 by $0.06. State Street had a return on equity of 12.79% and a net margin of 12.85%. The business had revenue of $3.28 billion during the quarter, compared to analyst estimates of $3.30 billion. During the same period last year, the company earned $1.69 EPS. Equities analysts forecast that State Street Corporation will post 9.68 EPS for the current year.

State Street Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 11th. Investors of record on Tuesday, July 1st will be paid a dividend of $0.76 per share. This represents a $3.04 dividend on an annualized basis and a dividend yield of 2.76%. The ex-dividend date of this dividend is Tuesday, July 1st. State Street's dividend payout ratio is currently 34.12%.

Analyst Ratings Changes

STT has been the topic of several recent analyst reports. Citigroup raised their price objective on shares of State Street from $100.00 to $115.00 and gave the company a "neutral" rating in a research report on Wednesday. Barclays decreased their price objective on shares of State Street from $127.00 to $120.00 and set an "overweight" rating on the stock in a research report on Monday, April 21st. The Goldman Sachs Group raised their price objective on shares of State Street from $98.00 to $111.00 and gave the company a "buy" rating in a research report on Wednesday. Wall Street Zen downgraded shares of State Street from a "buy" rating to a "hold" rating in a research report on Friday, March 7th. Finally, Keefe, Bruyette & Woods reduced their price target on shares of State Street from $118.00 to $113.00 and set an "outperform" rating on the stock in a report on Monday, April 21st. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and seven have issued a buy rating to the company's stock. According to data from MarketBeat.com, State Street has an average rating of "Hold" and a consensus target price of $106.46.

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.

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