Aurdan Capital Management LLC Trims Position in State Street Corporation (NYSE:STT)

Aurdan Capital Management LLC trimmed its holdings in shares of State Street Corporation (NYSE:STT - Free Report) by 21.7% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 44,010 shares of the asset manager's stock after selling 12,179 shares during the period. State Street comprises about 1.5% of Aurdan Capital Management LLC's portfolio, making the stock its 18th largest position. Aurdan Capital Management LLC's holdings in State Street were worth $3,940,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Norges Bank purchased a new stake in shares of State Street during the fourth quarter valued at about $161,021,000. Price T Rowe Associates Inc. MD raised its position in shares of State Street by 236.3% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 2,309,130 shares of the asset manager's stock valued at $226,642,000 after purchasing an additional 1,622,408 shares during the last quarter. FMR LLC raised its position in State Street by 14.2% during the 4th quarter. FMR LLC now owns 6,983,607 shares of the asset manager's stock worth $685,441,000 after buying an additional 870,849 shares during the last quarter. Azora Capital LP purchased a new position in State Street during the 4th quarter worth approximately $80,294,000. Finally, Northern Trust Corp raised its position in State Street by 15.7% during the 4th quarter. Northern Trust Corp now owns 4,148,410 shares of the asset manager's stock worth $407,166,000 after buying an additional 563,790 shares during the last quarter. 87.44% of the stock is currently owned by institutional investors.

Insider Activity at State Street

In other news, CAO Elizabeth Schaefer sold 1,300 shares of State Street stock in a transaction on Tuesday, May 6th. The stock was sold at an average price of $90.72, for a total transaction of $117,936.00. Following the transaction, the chief accounting officer owned 7,354 shares in the company, valued at $667,154.88. The trade was a 15.02% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.29% of the stock is currently owned by corporate insiders.

State Street Price Performance

STT stock traded down $0.57 during midday trading on Friday, reaching $109.65. The stock had a trading volume of 1,681,826 shares, compared to its average volume of 2,107,031. The company's fifty day simple moving average is $99.48 and its 200 day simple moving average is $94.90. The company has a current ratio of 0.57, a quick ratio of 0.57 and a debt-to-equity ratio of 1.07. The company has a market cap of $31.27 billion, a price-to-earnings ratio of 12.30, a price-to-earnings-growth ratio of 1.26 and a beta of 1.45. State Street Corporation has a 52-week low of $72.81 and a 52-week high of $111.99.

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 analysts' consensus estimates of $1.98 by $0.06. The company had revenue of $3.28 billion for the quarter, compared to analyst estimates of $3.30 billion. State Street had a return on equity of 12.79% and a net margin of 12.85%. During the same quarter last year, the firm posted $1.69 EPS. As a group, sell-side analysts predict that State Street Corporation will post 9.68 earnings per share for the current fiscal year.

State Street Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, July 11th. Stockholders of record on Tuesday, July 1st will be issued a dividend of $0.76 per share. The ex-dividend date of this dividend is Tuesday, July 1st. This represents a $3.04 annualized dividend and a dividend yield of 2.77%. State Street's dividend payout ratio is presently 34.12%.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on STT. Morgan Stanley raised their price target on shares of State Street from $110.00 to $114.00 and gave the stock an "overweight" rating in a research report on Tuesday, July 1st. Truist Financial raised their price objective on shares of State Street from $112.00 to $122.00 and gave the stock a "buy" rating in a research note on Thursday, July 3rd. Keefe, Bruyette & Woods dropped their price objective on shares of State Street from $118.00 to $113.00 and set an "outperform" rating on the stock in a research note on Monday, April 21st. Wells Fargo & Company raised their price objective on shares of State Street from $113.00 to $121.00 and gave the stock an "overweight" rating in a research note on Tuesday. Finally, Bank of America raised their price objective 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. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $109.92.

About State Street

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.