Sienna Gestion Buys 26,299 Shares of State Street Corporation $STT

Sienna Gestion raised its position in shares of State Street Corporation (NYSE:STT) by 28.6% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 118,255 shares of the asset manager’s stock after buying an additional 26,299 shares during the quarter. State Street comprises 0.9% of Sienna Gestion’s portfolio, making the stock its 26th biggest holding. Sienna Gestion’s holdings in State Street were worth $12,508,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. True Wealth Design LLC raised its position in State Street by 166.3% during the third quarter. True Wealth Design LLC now owns 253 shares of the asset manager’s stock valued at $29,000 after purchasing an additional 158 shares during the period. Flagship Wealth Advisors LLC bought a new position in State Street during the 3rd quarter valued at about $35,000. SJS Investment Consulting Inc. raised its position in State Street by 2,142.9% in the 3rd quarter. SJS Investment Consulting Inc. now owns 314 shares of the asset manager’s stock worth $36,000 after purchasing an additional 300 shares during the period. Ameriflex Group Inc. raised its position in State Street by 102.5% in the 3rd quarter. Ameriflex Group Inc. now owns 318 shares of the asset manager’s stock worth $37,000 after purchasing an additional 161 shares during the period. Finally, Annis Gardner Whiting Capital Advisors LLC lifted its stake in State Street by 38.2% in the third quarter. Annis Gardner Whiting Capital Advisors LLC now owns 340 shares of the asset manager’s stock worth $39,000 after purchasing an additional 94 shares during the last quarter. 87.44% of the stock is currently owned by institutional investors.

State Street Stock Down 3.4%

Shares of State Street stock opened at $120.85 on Monday. The company has a debt-to-equity ratio of 1.04, a current ratio of 0.61 and a quick ratio of 0.61. The stock has a market cap of $33.68 billion, a price-to-earnings ratio of 12.84, a PEG ratio of 1.06 and a beta of 1.43. The firm’s 50-day moving average is $129.61 and its two-hundred day moving average is $121.80. State Street Corporation has a 1 year low of $72.81 and a 1 year high of $137.05.

State Street (NYSE:STT) last posted its quarterly earnings results on Friday, January 16th. The asset manager reported $2.97 EPS for the quarter, beating the consensus estimate of $2.82 by $0.15. State Street had a net margin of 13.02% and a return on equity of 13.46%. The business had revenue of $3.67 billion during the quarter, compared to analyst estimates of $3.57 billion. During the same quarter in the previous year, the business posted $2.60 EPS. The company’s quarterly revenue was up 7.5% compared to the same quarter last year. As a group, research analysts expect that State Street Corporation 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 Monday, April 13th. Investors of record on Wednesday, April 1st will be paid a $0.84 dividend. The ex-dividend date of this dividend is Wednesday, April 1st. This represents a $3.36 dividend on an annualized basis and a yield of 2.8%. State Street’s payout ratio is 35.71%.

Wall Street Analyst Weigh In

A number of research firms have recently commented on STT. Citigroup started coverage on State Street in a research note on Monday, February 23rd. They set a “buy” rating and a $150.00 target price on the stock. Zacks Research downgraded State Street from a “strong-buy” rating to a “hold” rating in a research report on Monday, December 1st. TD Cowen restated a “buy” rating on shares of State Street in a report on Wednesday, January 7th. Loop Capital set a $144.00 price objective on shares of State Street in a report on Tuesday, January 6th. Finally, The Goldman Sachs Group reissued a “buy” rating on shares of State Street in a research report on Tuesday, January 6th. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $135.83.

About State Street

State Street Corporation is a global financial services company that provides a range of investment servicing, investment management and investment research and trading services to institutional investors. Its principal activities include custody and fund administration, securities lending, performance and risk analytics, trading and execution services, and foreign exchange. The company also offers investment management through State Street Global Advisors, a major provider of exchange-traded funds and institutional investment strategies.

State Street serves a broad client base of asset managers, insurance companies, pension funds, endowments, and other institutions across North America, Europe, Asia and other global markets.