Nichols & Pratt Advisers LLP MA Has $17.81 Million Holding in State Street Corp (STT)

Nichols & Pratt Advisers LLP MA Has $17.81 Million Holding in State Street Corp (STT)

Nichols & Pratt Advisers LLP MA decreased its position in shares of State Street Corp (NYSE:STT) by 1.0% during the first quarter, Holdings Channel reports. The fund owned 223,790 shares of the asset manager’s stock after selling 2,368 shares during the period. State Street Corp makes up 1.6% of Nichols & Pratt Advisers LLP MA’s holdings, making the stock its 23rd largest position. Nichols & Pratt Advisers LLP MA’s holdings in State Street Corp were worth $17,812,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of the stock. FTB Advisors Inc. raised its position in shares of State Street Corp by 15.7% in the first quarter. FTB Advisors Inc. now owns 1,523 shares of the asset manager’s stock worth $127,000 after buying an additional 207 shares during the last quarter. State of Alaska Department of Revenue purchased a new position in shares of State Street Corp during the first quarter worth about $123,000. Pinnacle Bank purchased a new position in shares of State Street Corp during the first quarter worth about $129,000. MUFG Americas Holdings Corp raised its position in shares of State Street Corp by 40.7% in the fourth quarter. MUFG Americas Holdings Corp now owns 1,626 shares of the asset manager’s stock worth $126,000 after buying an additional 470 shares during the last quarter. Finally, Advisory Services Network LLC purchased a new position in shares of State Street Corp during the first quarter worth about $177,000. 85.06% of the stock is owned by hedge funds and other institutional investors.

Shares of State Street Corp (NYSE:STT) opened at 82.68 on Friday. The stock has a 50 day moving average price of $81.76 and a 200-day moving average price of $79.76. The stock has a market cap of $31.11 billion, a price-to-earnings ratio of 15.47 and a beta of 1.40. State Street Corp has a 12-month low of $50.60 and a 12-month high of $85.38.

State Street Corp (NYSE:STT) last released its earnings results on Wednesday, April 26th. The asset manager reported $1.21 EPS for the quarter, topping analysts’ consensus estimates of $1.10 by $0.11. State Street Corp had a net margin of 20.16% and a return on equity of 12.13%. The firm had revenue of $2.67 billion during the quarter, compared to analyst estimates of $2.75 billion. During the same quarter in the previous year, the business earned $0.98 EPS. The business’s quarterly revenue was up 7.4% compared to the same quarter last year. Equities analysts anticipate that State Street Corp will post $5.92 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 18th. Shareholders of record on Monday, July 3rd will be issued a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a yield of 1.84%. The ex-dividend date of this dividend is Thursday, June 29th. State Street Corp’s dividend payout ratio is presently 30.52%.

A number of equities analysts have issued reports on the company. Bank of America Corp reaffirmed a “neutral” rating and set a $88.00 price target on shares of State Street Corp in a research note on Friday, May 26th. Evercore ISI lowered State Street Corp from a “hold” rating to an “underperform” rating and set a $82.00 price target for the company. in a research note on Friday, March 3rd. Deutsche Bank AG decreased their price target on State Street Corp from $85.00 to $84.00 and set a “hold” rating for the company in a research note on Thursday, April 6th. Jefferies Group LLC lowered State Street Corp from a “buy” rating to a “hold” rating and decreased their price target for the company from $89.00 to $87.00 in a research note on Tuesday, April 11th. Finally, Keefe, Bruyette & Woods set a $88.00 price target on State Street Corp and gave the company a “hold” rating in a research note on Wednesday, April 26th. Two research analysts have rated the stock with a sell rating, eleven have given a hold rating and four have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of $84.86.

In other State Street Corp news, insider Andrew Erickson sold 2,000 shares of State Street Corp stock in a transaction on Tuesday, May 2nd. The shares were sold at an average price of $83.28, for a total transaction of $166,560.00. Following the completion of the sale, the insider now owns 21,523 shares of the company’s stock, valued at approximately $1,792,435.44. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider George E. Sullivan sold 2,718 shares of State Street Corp stock in a transaction on Tuesday, May 16th. The stock was sold at an average price of $81.81, for a total transaction of $222,359.58. Following the sale, the insider now directly owns 73,090 shares of the company’s stock, valued at approximately $5,979,492.90. The disclosure for this sale can be found here. Insiders have sold a total of 5,747 shares of company stock valued at $469,852 in the last ninety days. Company insiders own 0.64% of the company’s stock.

State Street Corp Company Profile

State Street Corporation is a financial holding company. The Company operates through two lines of business: Investment Servicing and Investment Management. The Company, through its subsidiary, State Street Bank and Trust Company (State Street Bank), provides a range of financial products and services to institutional investors across the world.new TradingView.widget({ “height”: 400, “width”: 625, “symbol”: “STT”, “interval”: “D”, “timezone”: “Etc/UTC”, “theme”: “White”, “style”: “1”, “locale”: “en”, “toolbar_bg”: “#f1f3f6”, “enable_publishing”: false, “hideideas”: true, “referral_id”: “2588”});

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