Aurdan Capital Management LLC Sells 12,179 Shares of State Street Corporation (NYSE:STT)

Aurdan Capital Management LLC lowered its holdings in State Street Corporation (NYSE:STT) by 21.7% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 44,010 shares of the asset manager’s stock after selling 12,179 shares during the period. State Street makes up about 1.5% of Aurdan Capital Management LLC’s holdings, making the stock its 18th biggest position. Aurdan Capital Management LLC’s holdings in State Street were worth $3,940,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Allspring Global Investments Holdings LLC increased its holdings in State Street by 127.3% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 30,710 shares of the asset manager’s stock worth $2,728,000 after acquiring an additional 17,201 shares during the period. Pacific Heights Asset Management LLC grew its stake in State Street by 9.1% in the 1st quarter. Pacific Heights Asset Management LLC now owns 60,000 shares of the asset manager’s stock worth $5,372,000 after buying an additional 5,000 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. grew its stake in State Street by 3.3% in the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 457,924 shares of the asset manager’s stock worth $44,725,000 after buying an additional 14,476 shares in the last quarter. Stonegate Investment Group LLC purchased a new stake in shares of State Street in the 1st quarter valued at $487,000. Finally, Miller Howard Investments Inc. NY purchased a new stake in shares of State Street in the 1st quarter valued at $42,504,000. Institutional investors own 87.44% of the company’s stock.

State Street Trading Up 0.3%

Shares of STT opened at $109.48 on Thursday. State Street Corporation has a 1-year low of $72.81 and a 1-year high of $110.97. The company has a 50-day moving average of $99.05 and a 200 day moving average of $94.82. The firm has a market capitalization of $31.22 billion, a price-to-earnings ratio of 12.29, a PEG ratio of 1.27 and a beta of 1.45. The company has a debt-to-equity ratio of 1.07, a current ratio of 0.57 and a quick ratio of 0.57.

State Street (NYSE:STT) last announced its quarterly earnings data on Thursday, April 17th. The asset manager reported $2.04 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.98 by $0.06. State Street had a return on equity of 12.79% and a net margin of 12.85%. The company had revenue of $3.28 billion for the quarter, compared to analysts’ expectations of $3.30 billion. During the same quarter in the prior year, the firm earned $1.69 earnings per share. On average, research analysts expect that State Street Corporation will post 9.68 EPS for the current year.

State Street Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 11th. Investors of record on Tuesday, July 1st will be paid a $0.76 dividend. The ex-dividend date of this dividend is Tuesday, July 1st. This represents a $3.04 annualized dividend and a yield of 2.78%. State Street’s dividend payout ratio (DPR) is currently 34.12%.

Analyst Ratings Changes

Several research analysts have commented on STT shares. Keefe, Bruyette & Woods decreased their price objective on shares of State Street from $118.00 to $113.00 and set an “outperform” rating for the company in a report on Monday, April 21st. Bank of America raised their target price on shares of State Street from $98.00 to $99.00 and gave the stock an “underperform” rating in a report on Wednesday, April 2nd. Morgan Stanley upped their price target on shares of State Street from $110.00 to $114.00 and gave the company an “overweight” rating in a research report on Tuesday, July 1st. Citigroup increased their price objective on shares of State Street from $100.00 to $115.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 2nd. Finally, Barclays decreased their target price on State Street from $127.00 to $120.00 and set an “overweight” rating on the stock in a report on Monday, April 21st. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $109.92.

Insider Transactions at State Street

In related news, CAO Elizabeth Schaefer sold 1,300 shares of State Street stock in a transaction dated Tuesday, May 6th. The stock was sold at an average price of $90.72, for a total value of $117,936.00. Following the completion of the sale, the chief accounting officer directly owned 7,354 shares in the company, valued at $667,154.88. The trade was a 15.02% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.29% of the stock is currently owned by company insiders.

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.