State Street Corporation $STT Stake Boosted by Sienna Gestion

Sienna Gestion grew its stake in shares of State Street Corporation (NYSE:STT) by 10.0% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 91,956 shares of the asset manager’s stock after acquiring an additional 8,382 shares during the period. Sienna Gestion’s holdings in State Street were worth $8,928,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of the business. Harbour Investments Inc. boosted its holdings in State Street by 11.7% in the second quarter. Harbour Investments Inc. now owns 1,012 shares of the asset manager’s stock worth $108,000 after purchasing an additional 106 shares in the last quarter. McAdam LLC boosted its holdings in State Street by 1.7% in the second quarter. McAdam LLC now owns 6,650 shares of the asset manager’s stock worth $707,000 after purchasing an additional 111 shares in the last quarter. Meeder Advisory Services Inc. boosted its holdings in State Street by 2.0% in the first quarter. Meeder Advisory Services Inc. now owns 5,756 shares of the asset manager’s stock worth $515,000 after purchasing an additional 114 shares in the last quarter. Larson Financial Group LLC boosted its holdings in State Street by 40.8% in the first quarter. Larson Financial Group LLC now owns 407 shares of the asset manager’s stock worth $36,000 after purchasing an additional 118 shares in the last quarter. Finally, Smartleaf Asset Management LLC boosted its holdings in State Street by 5.9% in 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 in the last quarter. 87.44% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on STT shares. Keefe, Bruyette & Woods upped their price objective on shares of State Street from $132.00 to $135.00 and gave the stock an “outperform” rating in a report on Monday, October 20th. Wells Fargo & Company upped their price objective on shares of State Street from $121.00 to $129.00 and gave the stock an “overweight” rating in a report on Monday, October 20th. The Goldman Sachs Group upped their price target on shares of State Street from $109.00 to $130.00 and gave the company a “buy” rating in a report on Monday, October 6th. Citigroup upped their price target on shares of State Street from $130.00 to $136.00 and gave the company a “buy” rating in a report on Friday, October 24th. Finally, Truist Financial decreased 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. Two investment analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $125.92.

State Street Stock Up 0.6%

STT stock opened at $116.81 on Thursday. The company has a debt-to-equity ratio of 1.03, a current ratio of 0.59 and a quick ratio of 0.57. State Street Corporation has a 52-week low of $72.81 and a 52-week high of $119.33. The company has a 50-day moving average of $114.44 and a two-hundred day moving average of $106.60. The stock has a market capitalization of $33.14 billion, a price-to-earnings ratio of 12.36, a price-to-earnings-growth ratio of 1.24 and a beta of 1.46.

State Street (NYSE:STT) last announced its quarterly earnings data on Friday, October 17th. The asset manager reported $2.78 EPS for the quarter, beating analysts’ consensus estimates of $2.57 by $0.21. The business had revenue of $13 billion during the quarter, compared to analyst estimates of $3.43 billion. State Street had a net margin of 13.14% and a return on equity of 13.37%. The firm’s revenue for the quarter was up 8.8% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.26 earnings per share. As a group, equities research analysts anticipate that State Street Corporation will post 9.68 EPS for the current year.

Insider Activity at State Street

In other news, EVP Michael L. Richards sold 1,500 shares of the company’s stock in a transaction dated Monday, October 27th. The shares were sold at an average price of $117.24, for a total transaction of $175,860.00. Following the completion of the transaction, the executive vice president owned 38,626 shares of the company’s stock, valued at approximately $4,528,512.24. This represents a 3.74% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.29% of the company’s stock.

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.