Nebula Research & Development LLC Sells 5,315 Shares of State Street Corporation $STT

Nebula Research & Development LLC decreased its position in shares of State Street Corporation (NYSE:STT) by 15.2% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 29,546 shares of the asset manager’s stock after selling 5,315 shares during the quarter. Nebula Research & Development LLC’s holdings in State Street were worth $3,142,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Brown Advisory Inc. increased its stake in shares of State Street by 0.5% in the second quarter. Brown Advisory Inc. now owns 17,224 shares of the asset manager’s stock valued at $1,832,000 after buying an additional 93 shares during the period. Harbour Investments Inc. increased its position in State Street by 11.7% in the 2nd quarter. Harbour Investments Inc. now owns 1,012 shares of the asset manager’s stock valued at $108,000 after acquiring an additional 106 shares during the period. McAdam LLC raised its stake in shares of State Street by 1.7% during the second quarter. McAdam LLC now owns 6,650 shares of the asset manager’s stock valued at $707,000 after acquiring an additional 111 shares during the last quarter. Smartleaf Asset Management LLC lifted its holdings in shares of State Street by 5.9% during the first quarter. Smartleaf Asset Management LLC now owns 2,257 shares of the asset manager’s stock worth $201,000 after purchasing an additional 126 shares during the period. Finally, Brighton Jones LLC grew its stake in shares of State Street by 4.7% in the second quarter. Brighton Jones LLC now owns 3,222 shares of the asset manager’s stock worth $343,000 after purchasing an additional 146 shares during the last quarter. Institutional investors and hedge funds own 87.44% of the company’s stock.

State Street Stock Performance

NYSE:STT opened at $128.72 on Thursday. The company has a quick ratio of 0.59, a current ratio of 0.59 and a debt-to-equity ratio of 1.03. State Street Corporation has a twelve month low of $72.81 and a twelve month high of $128.93. The company has a fifty day moving average of $117.08 and a 200-day moving average of $111.26. The firm has a market capitalization of $35.95 billion, a P/E ratio of 13.62, a P/E/G ratio of 1.17 and a beta of 1.44.

State Street (NYSE:STT) last posted its quarterly earnings results on Friday, October 17th. The asset manager reported $2.78 EPS for the quarter, topping analysts’ consensus estimates of $2.57 by $0.21. State Street had a net margin of 13.14% and a return on equity of 13.37%. The business had revenue of $3.55 billion during the quarter, compared to analysts’ expectations of $3.43 billion. During the same period last year, the company posted $2.26 earnings per share. The business’s quarterly revenue was up 8.8% on a year-over-year basis. As a group, sell-side analysts anticipate that State Street Corporation will post 9.68 EPS for the current year.

Insider Buying and Selling

In related news, EVP Michael L. Richards sold 1,500 shares of the company’s stock in a transaction that occurred on Monday, October 27th. The stock was sold at an average price of $117.24, for a total transaction of $175,860.00. Following the transaction, the executive vice president directly owned 38,626 shares of the company’s stock, valued at approximately $4,528,512.24. This represents a 3.74% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.29% of the stock is owned by insiders.

Analyst Ratings Changes

A number of equities research analysts have commented on the company. TD Cowen assumed coverage on State Street in a research report on Thursday, September 25th. They issued a “buy” rating on the stock. Keefe, Bruyette & Woods upped their target price on State Street from $132.00 to $135.00 and gave the company an “outperform” rating in a report on Monday, October 20th. Truist Financial lowered their price target on shares of State Street from $133.00 to $131.00 and set a “buy” rating for the company in a report on Monday, October 20th. Evercore ISI boosted their price target on shares of State Street from $117.00 to $128.00 and gave the stock an “outperform” rating in a research report on Tuesday, September 30th. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of State Street in a research report on Wednesday, October 8th. One investment analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $125.92.

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.