Nomura Holdings Inc. Sells 19,287 Shares of State Street Co. (NYSE:STT)

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

A number of other hedge funds also recently bought and sold shares of STT. Albion Financial Group UT bought a new stake in State Street during the fourth quarter valued at about $25,000. Y.D. More Investments Ltd boosted its holdings in State Street by 116.6% during the fourth quarter. Y.D. More Investments Ltd now owns 366 shares of the asset manager’s stock valued at $36,000 after acquiring an additional 197 shares during the period. Kohmann Bosshard Financial Services LLC bought a new stake in State Street during the fourth quarter valued at about $42,000. Coppell Advisory Solutions LLC boosted its holdings in State Street by 2,942.9% during the fourth quarter. Coppell Advisory Solutions LLC now owns 426 shares of the asset manager’s stock valued at $42,000 after acquiring an additional 412 shares during the period. Finally, Loomis Sayles & Co. L P boosted its holdings in State Street by 187.3% during the fourth quarter. Loomis Sayles & Co. L P now owns 477 shares of the asset manager’s stock valued at $47,000 after acquiring an additional 311 shares during the period. 87.44% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on STT. Truist Financial reduced their target price on shares of State Street from $89.00 to $85.00 and set a “hold” rating for the company in a research note on Monday, April 21st. Bank of America increased their target price on shares of State Street from $98.00 to $99.00 and gave the company an “underperform” rating in a research note on Wednesday, April 2nd. Barclays reduced their target price on shares of State Street from $127.00 to $120.00 and set an “overweight” rating for the company in a research note on Monday, April 21st. Citigroup reduced their target price on shares of State Street from $105.00 to $100.00 and set a “neutral” rating for the company in a research note on Monday, March 24th. Finally, StockNews.com cut shares of State Street from a “buy” rating to a “hold” rating in a research note on Friday, March 7th. One analyst has rated the stock with a sell rating, seven have given a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $102.15.

State Street Stock Performance

NYSE:STT opened at $98.25 on Tuesday. State Street Co. has a 12-month low of $70.20 and a 12-month high of $103.00. The company has a quick ratio of 0.56, a current ratio of 0.56 and a debt-to-equity ratio of 1.03. The firm 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 has a 50-day moving average price of $87.47 and a 200 day moving average price of $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 (EPS) for the quarter, topping the consensus estimate of $1.98 by $0.06. State Street had a net margin of 12.14% and a return on equity of 12.60%. The firm had revenue of $3.28 billion during the quarter, compared to analyst estimates of $3.30 billion. During the same quarter in the prior year, the business posted $1.69 earnings per share. Research analysts anticipate that State Street Co. will post 9.68 earnings per share for the current fiscal year.

State Street Dividend Announcement

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 given a $0.76 dividend. This represents a $3.04 annualized dividend and a yield of 3.09%. The ex-dividend date is Tuesday, July 1st. State Street’s dividend payout ratio (DPR) is presently 34.12%.

Insider Transactions at State Street

In other news, CAO Elizabeth Schaefer sold 1,300 shares of the firm’s stock in a transaction that occurred on Tuesday, May 6th. The shares were 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 now owns 7,354 shares of the company’s stock, valued at approximately $667,154.88. This trade represents a 15.02% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 0.29% of the company’s stock.

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.