State Street Corporation $STT Shares Sold by Aurdan Capital Management LLC

Aurdan Capital Management LLC decreased its position in shares of State Street Corporation (NYSE:STT) by 16.2% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 34,929 shares of the asset manager’s stock after selling 6,764 shares during the quarter. State Street accounts for approximately 1.3% of Aurdan Capital Management LLC’s investment portfolio, making the stock its 19th largest holding. Aurdan Capital Management LLC’s holdings in State Street were worth $4,052,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Machina Capital S.A.S. acquired a new position in shares of State Street in the 3rd quarter valued at about $2,622,000. AE Wealth Management LLC purchased a new position in State Street during the third quarter valued at approximately $6,611,000. Jones Financial Companies Lllp lifted its holdings in State Street by 11.7% in the third quarter. Jones Financial Companies Lllp now owns 208,600 shares of the asset manager’s stock valued at $24,139,000 after acquiring an additional 21,810 shares during the period. Nordea Investment Management AB boosted its position in State Street by 2.2% in the 2nd quarter. Nordea Investment Management AB now owns 2,273,567 shares of the asset manager’s stock worth $241,862,000 after purchasing an additional 49,475 shares in the last quarter. Finally, Rakuten Investment Management Inc. acquired a new stake in shares of State Street during the 3rd quarter worth approximately $1,353,000. Institutional investors and hedge funds own 87.44% of the company’s stock.

State Street Price Performance

Shares of State Street stock opened at $128.72 on Friday. The stock has a market capitalization of $35.95 billion, a P/E ratio of 13.68, a PEG ratio of 1.16 and a beta of 1.43. The business has a 50 day simple moving average of $128.74 and a two-hundred day simple moving average of $119.11. State Street Corporation has a 12 month low of $72.81 and a 12 month high of $137.05. The company has a debt-to-equity ratio of 1.04, a current ratio of 0.61 and a quick ratio of 0.59.

State Street (NYSE:STT) last posted its quarterly earnings data 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 return on equity of 13.46% and a net margin of 13.02%.The firm had revenue of $3.67 billion during the quarter, compared to the consensus estimate of $3.57 billion. During the same period in the prior year, the company earned $2.60 EPS. The firm’s revenue was up 7.5% compared to the same quarter last year. As a group, analysts predict that State Street Corporation will post 9.68 EPS for the current fiscal year.

State Street Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, January 12th. Investors of record on Friday, January 2nd were given a dividend of $0.84 per share. The ex-dividend date was Friday, January 2nd. This represents a $3.36 dividend on an annualized basis and a yield of 2.6%. State Street’s payout ratio is presently 35.71%.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on STT shares. Morgan Stanley decreased their target price on shares of State Street from $168.00 to $164.00 and set an “overweight” rating for the company in a research note on Tuesday, January 20th. Citigroup increased their target price on shares of State Street from $136.00 to $150.00 and gave the stock a “buy” rating in a research note on Tuesday, December 30th. Truist Financial set a $136.00 price target on State Street in a research note on Tuesday, January 20th. Loop Capital set a $144.00 price target on State Street in a report on Tuesday, January 6th. Finally, Wells Fargo & Company raised their price objective on State Street from $121.00 to $129.00 and gave the company an “overweight” rating in a report on Monday, October 20th. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, State Street currently has a consensus rating of “Moderate Buy” and an average target price of $135.83.

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.