Aurdan Capital Management LLC Makes New Investment in State Street Co. (NYSE:STT)

Aurdan Capital Management LLC acquired a new stake in State Street Co. (NYSE:STT - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 56,189 shares of the asset manager's stock, valued at approximately $5,515,000. State Street comprises about 2.1% of Aurdan Capital Management LLC's portfolio, making the stock its 13th biggest holding.

A number of other hedge funds have also added to or reduced their stakes in the company. Adero Partners LLC increased its stake in State Street by 3.6% in the fourth quarter. Adero Partners LLC now owns 2,900 shares of the asset manager's stock valued at $285,000 after acquiring an additional 100 shares during the last quarter. Jacobi Capital Management LLC grew its stake in shares of State Street by 1.0% during the fourth quarter. Jacobi Capital Management LLC now owns 12,232 shares of the asset manager's stock worth $1,201,000 after buying an additional 121 shares during the last quarter. Moors & Cabot Inc. grew its stake in shares of State Street by 0.7% during the fourth quarter. Moors & Cabot Inc. now owns 18,332 shares of the asset manager's stock worth $1,799,000 after buying an additional 131 shares during the last quarter. Apollon Wealth Management LLC grew its stake in shares of State Street by 1.4% during the fourth quarter. Apollon Wealth Management LLC now owns 10,050 shares of the asset manager's stock worth $986,000 after buying an additional 138 shares during the last quarter. Finally, Huntington National Bank grew its stake in shares of State Street by 1.3% during the fourth quarter. Huntington National Bank now owns 11,671 shares of the asset manager's stock worth $1,146,000 after buying an additional 150 shares during the last quarter. 87.44% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, CAO Elizabeth Schaefer sold 1,300 shares of the company's stock in a transaction dated Tuesday, May 6th. The shares were sold at an average price of $90.72, for a total value of $117,936.00. Following the sale, the chief accounting officer now owns 7,354 shares in the company, valued at $667,154.88. This represents a 15.02% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.29% of the stock is currently owned by company insiders.

State Street Trading Down 0.6%

STT stock traded down $0.58 during midday trading on Wednesday, hitting $96.85. The stock had a trading volume of 1,685,671 shares, compared to its average volume of 2,139,197. The firm has a market cap of $27.62 billion, a P/E ratio of 11.75, a price-to-earnings-growth ratio of 1.11 and a beta of 1.42. The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 1.03. State Street Co. has a 1-year low of $70.20 and a 1-year high of $103.00. The business has a fifty day moving average price of $88.50 and a two-hundred day moving average price of $93.95.

State Street (NYSE:STT - Get Free Report) last announced its quarterly earnings data on Thursday, April 17th. The asset manager reported $2.04 earnings per share for the quarter, beating 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 for the quarter, compared to analyst estimates of $3.30 billion. During the same quarter in the prior year, the business earned $1.69 earnings per share. On average, sell-side analysts predict that State Street Co. will post 9.68 earnings per share for the current fiscal year.

State Street Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 11th. Investors of record on Tuesday, July 1st will be issued a $0.76 dividend. The ex-dividend date is Tuesday, July 1st. This represents a $3.04 dividend on an annualized basis and a dividend yield of 3.14%. State Street's dividend payout ratio is presently 34.12%.

Analysts Set New Price Targets

A number of research firms have weighed in on STT. Wall Street Zen cut shares of State Street from a "buy" rating to a "hold" rating in a research note on Friday, March 7th. Truist Financial raised shares of State Street from a "hold" rating to a "buy" rating and boosted their target price for the stock from $85.00 to $112.00 in a research note on Wednesday. Bank of America boosted their target price on shares of State Street from $98.00 to $99.00 and gave the stock an "underperform" rating in a research note on Wednesday, April 2nd. Barclays decreased their target price on shares of State Street from $127.00 to $120.00 and set an "overweight" rating on the stock in a research note on Monday, April 21st. Finally, Citigroup cut their price target on shares of State Street from $105.00 to $100.00 and set a "neutral" rating on the stock in a report on Monday, March 24th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $104.23.

State Street 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.