State Street Corporation $STT Shares Acquired by Sienna Gestion

Sienna Gestion lifted its position in shares of State Street Corporation (NYSE:STT) by 4.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 123,671 shares of the asset manager’s stock after acquiring an additional 5,416 shares during the quarter. State Street accounts for approximately 1.0% of Sienna Gestion’s portfolio, making the stock its 23rd largest holding. Sienna Gestion’s holdings in State Street were worth $16,039,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the company. Regents of The University of California grew its position in State Street by 211.2% during the fourth quarter. Regents of The University of California now owns 8,706,195 shares of the asset manager’s stock worth $1,123,186,000 after buying an additional 5,908,370 shares during the period. Norges Bank acquired a new position in State Street during the fourth quarter worth about $303,483,000. Pinebridge Investments LLC acquired a new position in State Street during the fourth quarter worth about $178,705,000. Victory Capital Management Inc. grew its position in State Street by 30.8% during the fourth quarter. Victory Capital Management Inc. now owns 4,559,546 shares of the asset manager’s stock worth $588,227,000 after buying an additional 1,074,174 shares during the period. Finally, Two Sigma Investments LP grew its position in State Street by 261.0% during the third quarter. Two Sigma Investments LP now owns 1,217,802 shares of the asset manager’s stock worth $141,277,000 after buying an additional 880,507 shares during the period. 87.44% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on STT shares. Seaport Research Partners restated a “buy” rating and set a $170.00 target price on shares of State Street in a research report on Monday, April 20th. Bank of America upgraded shares of State Street from an “underperform” rating to a “neutral” rating and set a $143.00 price target on the stock in a research report on Monday, April 6th. Evercore set a $158.00 price target on shares of State Street and gave the company an “outperform” rating in a research report on Monday, April 20th. The Goldman Sachs Group increased their price target on shares of State Street from $152.00 to $168.00 and gave the company a “buy” rating in a research report on Monday, April 20th. Finally, Zacks Research upgraded shares of State Street from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, April 21st. Three equities research analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and four have issued a Hold rating to the company. According to MarketBeat.com, State Street has an average rating of “Moderate Buy” and a consensus target price of $158.57.

State Street Stock Down 0.2%

Shares of NYSE STT opened at $167.29 on Tuesday. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.57 and a current ratio of 0.57. The firm has a market cap of $46.30 billion, a P/E ratio of 16.97, a price-to-earnings-growth ratio of 0.92 and a beta of 1.43. State Street Corporation has a 1 year low of $96.16 and a 1 year high of $170.54. The firm’s 50 day moving average price is $151.60 and its 200 day moving average price is $135.93.

State Street (NYSE:STT) last issued its earnings results on Friday, April 17th. The asset manager reported $2.84 EPS for the quarter, beating analysts’ consensus estimates of $2.64 by $0.20. State Street had a net margin of 13.47% and a return on equity of 14.22%. The business had revenue of $3.80 billion for the quarter, compared to the consensus estimate of $3.59 billion. During the same quarter last year, the firm posted $2.04 EPS. The business’s revenue for the quarter was up 15.6% compared to the same quarter last year. As a group, sell-side analysts anticipate that State Street Corporation will post 12.35 earnings per share for the current year.

State Street Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, July 13th. Investors of record on Wednesday, July 1st will be issued a dividend of $0.84 per share. This represents a $3.36 dividend on an annualized basis and a yield of 2.0%. The ex-dividend date of this dividend is Wednesday, July 1st. State Street’s dividend payout ratio (DPR) is presently 34.08%.

Insider Activity

In related news, COO Mostapha Tahiri sold 9,611 shares of the firm’s stock in a transaction on Wednesday, April 22nd. The shares were sold at an average price of $152.93, for a total transaction of $1,469,810.23. Following the completion of the sale, the chief operating officer directly owned 64,642 shares of the company’s stock, valued at approximately $9,885,701.06. This trade represents a 12.94% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP W. Bradford Hu sold 9,212 shares of the firm’s stock in a transaction on Tuesday, May 26th. The shares were sold at an average price of $155.35, for a total transaction of $1,431,084.20. Following the sale, the executive vice president directly owned 59,552 shares of the company’s stock, valued at approximately $9,251,403.20. The trade was a 13.40% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 37,876 shares of company stock valued at $5,866,583 in the last 90 days. Company insiders own 0.27% of the company’s stock.

State Street Profile

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.