Aurdan Capital Management LLC Reduces Position in State Street Corporation $STT

Aurdan Capital Management LLC reduced its position in State Street Corporation (NYSE:STT) by 16.2% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). 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 holdings, making the stock its 19th biggest holding. Aurdan Capital Management LLC’s holdings in State Street were worth $4,052,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of the business. Brighton Jones LLC bought a new position in State Street in the 4th quarter valued at $296,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of State Street by 2.9% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 32,223 shares of the asset manager’s stock valued at $2,885,000 after purchasing an additional 918 shares during the period. NewEdge Advisors LLC grew its holdings in shares of State Street by 105.2% in the first quarter. NewEdge Advisors LLC now owns 10,193 shares of the asset manager’s stock worth $913,000 after purchasing an additional 5,226 shares during the last quarter. Empowered Funds LLC increased its stake in State Street by 220.1% in the 1st quarter. Empowered Funds LLC now owns 23,263 shares of the asset manager’s stock worth $2,065,000 after buying an additional 15,996 shares during the period. Finally, Woodline Partners LP lifted its holdings in State Street by 38.4% during the 1st quarter. Woodline Partners LP now owns 24,372 shares of the asset manager’s stock valued at $2,182,000 after buying an additional 6,767 shares in the last quarter. Hedge funds and other institutional investors own 87.44% of the company’s stock.

State Street Stock Down 2.5%

Shares of STT stock opened at $128.72 on Friday. The stock’s fifty day moving average price is $128.74 and its 200 day moving average price is $119.11. State Street Corporation has a 1-year low of $72.81 and a 1-year high of $137.05. The company has a market cap of $35.95 billion, a price-to-earnings ratio of 13.68, a price-to-earnings-growth ratio of 1.16 and a beta of 1.43. 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 issued its quarterly earnings results on Friday, January 16th. The asset manager reported $2.97 earnings per share for the quarter, topping analysts’ consensus estimates of $2.82 by $0.15. The business had revenue of $3.67 billion for the quarter, compared to analyst estimates of $3.57 billion. State Street had a return on equity of 13.46% and a net margin of 13.02%.The company’s revenue was up 7.5% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.60 earnings per share. On average, research analysts expect that State Street Corporation will post 9.68 earnings per share for the current fiscal year.

State Street Announces Dividend

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

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on STT shares. Weiss Ratings restated a “buy (b)” rating on shares of State Street in a research note on Wednesday, January 21st. Zacks Research cut State Street from a “strong-buy” rating to a “hold” rating in a research note on Monday, December 1st. Truist Financial set a $136.00 target price on State Street in a research report on Tuesday, January 20th. Loop Capital set a $144.00 target price on State Street in a report on Tuesday, January 6th. Finally, Morgan Stanley cut their price target on State Street from $168.00 to $164.00 and set an “overweight” rating on the stock in a research note on Tuesday, January 20th. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $135.83.

About State Street

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.