Nichols & Pratt Advisers LLP MA boosted its position in shares of State Street Corp (NYSE:STT) by 0.7% in the third quarter, Holdings Channel reports. The fund owned 219,501 shares of the asset manager’s stock after acquiring an additional 1,465 shares during the period. State Street accounts for 1.5% of Nichols & Pratt Advisers LLP MA’s investment portfolio, making the stock its 22nd biggest holding. Nichols & Pratt Advisers LLP MA’s holdings in State Street were worth $18,400,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors have also recently added to or reduced their stakes in the company. Moneta Group Investment Advisors LLC increased its holdings in shares of State Street by 3,604.1% during the 2nd quarter. Moneta Group Investment Advisors LLC now owns 29,633 shares of the asset manager’s stock worth $103,000 after purchasing an additional 28,833 shares during the period. Bay Colony Advisory Group Inc d b a Bay Colony Advisors bought a new position in shares of State Street during the 2nd quarter worth about $109,000. Patriot Financial Group Insurance Agency LLC increased its holdings in shares of State Street by 1,855.1% during the 3rd quarter. Patriot Financial Group Insurance Agency LLC now owns 1,349 shares of the asset manager’s stock worth $113,000 after purchasing an additional 1,280 shares during the period. Delta Asset Management LLC TN bought a new position in shares of State Street during the 2nd quarter worth about $142,000. Finally, Sageworth Trust Co increased its holdings in shares of State Street by 1,151.7% during the 3rd quarter. Sageworth Trust Co now owns 1,815 shares of the asset manager’s stock worth $152,000 after purchasing an additional 1,670 shares during the period. 88.04% of the stock is owned by hedge funds and other institutional investors.
In other news, insider Jeff D. Conway sold 343 shares of the company’s stock in a transaction that occurred on Thursday, August 16th. The shares were sold at an average price of $83.16, for a total transaction of $28,523.88. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Joseph L. Hooley sold 25,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 15th. The stock was sold at an average price of $83.01, for a total transaction of $2,075,250.00. The disclosure for this sale can be found here. Insiders have sold 26,954 shares of company stock worth $2,237,777 over the last ninety days. Insiders own 0.40% of the company’s stock.
Several research firms have recently issued reports on STT. Sandler O’Neill restated a “hold” rating on shares of State Street in a report on Friday, July 13th. ValuEngine raised shares of State Street from a “strong sell” rating to a “sell” rating in a research note on Tuesday, September 4th. Bank of America lowered their target price on shares of State Street from $104.00 to $97.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 25th. Wolfe Research initiated coverage on shares of State Street in a research note on Tuesday, September 25th. They issued a “market perform” rating on the stock. Finally, Jefferies Financial Group reissued a “hold” rating and issued a $91.00 target price on shares of State Street in a research note on Tuesday, July 24th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and nine have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $103.07.
Shares of State Street stock opened at $72.02 on Wednesday. The company has a current ratio of 0.50, a quick ratio of 0.50 and a debt-to-equity ratio of 0.50. The stock has a market cap of $26.56 billion, a price-to-earnings ratio of 12.08, a PEG ratio of 1.02 and a beta of 1.34. State Street Corp has a 1-year low of $65.81 and a 1-year high of $114.27.
State Street (NYSE:STT) last issued its quarterly earnings data on Friday, October 19th. The asset manager reported $1.87 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.89 by ($0.02). The firm had revenue of $2.95 billion for the quarter, compared to the consensus estimate of $3.02 billion. State Street had a return on equity of 14.99% and a net margin of 19.90%. State Street’s quarterly revenue was up 3.7% compared to the same quarter last year. During the same period in the prior year, the company posted $1.71 earnings per share. As a group, equities analysts anticipate that State Street Corp will post 7.42 EPS for the current year.
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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; product and participant level accounting; daily pricing and administration; master trust and master custody; depotbank services; record-keeping; cash management; foreign exchange, brokerage, and other trading services; securities finance; deposit and short-term investment facilities; loans and lease financing; 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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