State Street Co. (NYSE:STT) Shares Purchased by Apollon Wealth Management LLC

Apollon Wealth Management LLC boosted its holdings in State Street Co. (NYSE:STT) by 1.4% in the fourth quarter, HoldingsChannel.com reports. The firm owned 10,050 shares of the asset manager’s stock after buying an additional 138 shares during the quarter. Apollon Wealth Management LLC’s holdings in State Street were worth $986,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in STT. CWM LLC boosted its holdings in State Street by 12.3% in the third quarter. CWM LLC now owns 11,371 shares of the asset manager’s stock valued at $1,006,000 after purchasing an additional 1,248 shares in the last quarter. Livforsakringsbolaget Skandia Omsesidigt boosted its holdings in shares of State Street by 412.6% in the third quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 2,112 shares of the asset manager’s stock valued at $187,000 after acquiring an additional 1,700 shares during the period. Carnegie Investment Counsel acquired a new stake in shares of State Street in the third quarter valued at approximately $237,000. Exchange Traded Concepts LLC boosted its holdings in shares of State Street by 2,137.0% in the third quarter. Exchange Traded Concepts LLC now owns 1,633 shares of the asset manager’s stock valued at $144,000 after acquiring an additional 1,560 shares during the period. Finally, Stablepoint Partners LLC acquired a new stake in shares of State Street in the third quarter valued at approximately $226,000. 87.44% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, EVP Kathryn M. Horgan sold 12,500 shares of the firm’s stock in a transaction on Monday, November 25th. The stock was sold at an average price of $97.97, for a total value of $1,224,625.00. Following the completion of the transaction, the executive vice president now owns 111,042 shares in the company, valued at $10,878,784.74. This trade represents a 10.12 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Company insiders own 0.31% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the company. StockNews.com raised State Street from a “hold” rating to a “buy” rating in a report on Saturday, January 25th. Morgan Stanley decreased their price objective on State Street from $139.00 to $132.00 and set an “overweight” rating for the company in a report on Friday, January 3rd. Truist Financial decreased their price objective on State Street from $106.00 to $104.00 and set a “hold” rating for the company in a report on Tuesday, January 21st. Keefe, Bruyette & Woods upgraded State Street from a “market perform” rating to an “outperform” rating and upped their price target for the stock from $105.00 to $120.00 in a research note on Tuesday, December 3rd. Finally, Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a $103.00 price target (down previously from $104.00) on shares of State Street in a research note on Wednesday, January 22nd. One analyst has rated the stock with a sell rating, seven have issued a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $100.73.

State Street Trading Up 0.6 %

NYSE:STT opened at $98.67 on Wednesday. The stock has a fifty day moving average price of $98.53 and a two-hundred day moving average price of $91.91. The stock has a market capitalization of $28.92 billion, a price-to-earnings ratio of 11.97, a PEG ratio of 1.12 and a beta of 1.43. The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.56 and a current ratio of 0.56. State Street Co. has a 1 year low of $70.20 and a 1 year high of $103.00.

State Street (NYSE:STT) last released its quarterly earnings data on Friday, January 17th. The asset manager reported $2.60 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.29 by $0.31. The firm had revenue of $3.41 billion during the quarter, compared to analysts’ expectations of $3.27 billion. State Street had a return on equity of 12.60% and a net margin of 12.14%. State Street’s revenue was up 12.1% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.04 earnings per share. As a group, sell-side analysts anticipate that State Street Co. will post 9.6 earnings per share for the current fiscal year.

State Street Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, January 13th. Stockholders of record on Thursday, January 2nd were given a $0.76 dividend. This represents a $3.04 dividend on an annualized basis and a dividend yield of 3.08%. The ex-dividend date was Thursday, January 2nd. State Street’s dividend payout ratio is currently 36.89%.

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.