State Street Co. (NYSE:STT) Shares Sold by Nomura Holdings Inc.

Nomura Holdings Inc. trimmed its position in State Street Co. (NYSE:STT) by 66.6% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 9,663 shares of the asset manager’s stock after selling 19,287 shares during the period. Nomura Holdings Inc.’s holdings in State Street were worth $948,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in STT. Adero Partners LLC increased its holdings in shares of State Street by 3.6% in the fourth quarter. Adero Partners LLC now owns 2,900 shares of the asset manager’s stock valued at $285,000 after buying an additional 100 shares in the last quarter. Jacobi Capital Management LLC increased its holdings 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 buying an additional 121 shares in the last quarter. Moors & Cabot Inc. increased its holdings in shares of State Street by 0.7% in the fourth quarter. Moors & Cabot Inc. now owns 18,332 shares of the asset manager’s stock valued at $1,799,000 after buying an additional 131 shares in the last quarter. Apollon Wealth Management LLC increased its holdings in shares of State Street by 1.4% in the fourth quarter. Apollon Wealth Management LLC now owns 10,050 shares of the asset manager’s stock valued at $986,000 after buying an additional 138 shares in the last quarter. Finally, Huntington National Bank increased its holdings in shares of State Street by 1.3% in the fourth quarter. Huntington National Bank now owns 11,671 shares of the asset manager’s stock valued at $1,146,000 after buying an additional 150 shares in the last quarter. 87.44% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts have issued reports on the company. Evercore ISI dropped their price target on State Street from $109.00 to $106.00 and set an “outperform” rating on the stock in a report on Tuesday, April 1st. Wolfe Research raised State Street from an “underperform” rating to a “peer perform” rating in a report on Monday, January 27th. Keefe, Bruyette & Woods dropped their price target on State Street from $118.00 to $113.00 and set an “outperform” rating on the stock in a report on Monday, April 21st. StockNews.com cut State Street from a “buy” rating to a “hold” rating in a report on Friday, March 7th. Finally, Wells Fargo & Company cut their target price on shares of State Street from $118.00 to $113.00 and set an “overweight” rating on the stock in a research note on Friday, March 28th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, State Street currently has an average rating of “Hold” and a consensus target price of $102.15.

Insider Buying and Selling

In related news, CAO Elizabeth Schaefer sold 1,300 shares of the company’s stock in a transaction on Tuesday, May 6th. The shares were sold at an average price of $90.72, for a total value of $117,936.00. Following the completion of the sale, the chief accounting officer now directly owns 7,354 shares in the company, valued at approximately $667,154.88. This represents a 15.02% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. 0.29% of the stock is currently owned by corporate insiders.

State Street Trading Down 0.0%

NYSE STT opened at $98.25 on Tuesday. State Street Co. has a 1-year low of $70.20 and a 1-year high of $103.00. The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 1.03. The company has a market capitalization of $28.02 billion, a PE ratio of 11.92, a price-to-earnings-growth ratio of 1.11 and a beta of 1.42. The firm’s fifty day simple moving average is $87.47 and its 200-day simple moving average is $93.86.

State Street (NYSE:STT) last posted its quarterly earnings results on Thursday, April 17th. The asset manager reported $2.04 earnings per share for the quarter, topping analysts’ consensus estimates of $1.98 by $0.06. State Street had a net margin of 12.14% and a return on equity of 12.60%. The business had revenue of $3.28 billion for the quarter, compared to the consensus estimate of $3.30 billion. During the same period in the prior year, the business posted $1.69 earnings per share. As a group, sell-side analysts anticipate that State Street Co. will post 9.68 earnings per share for the current fiscal year.

State Street Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 11th. Investors of record on Tuesday, July 1st will be issued a $0.76 dividend. This represents a $3.04 dividend on an annualized basis and a yield of 3.09%. The ex-dividend date of this dividend is Tuesday, July 1st. State Street’s dividend payout ratio is presently 34.12%.

About State Street

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.