Apollon Wealth Management LLC Increases Stake in State Street Co. (NYSE:STT)

Apollon Wealth Management LLC lifted its stake in State Street Co. (NYSE:STT) by 1.4% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 10,050 shares of the asset manager’s stock after purchasing 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.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Flagship Harbor Advisors LLC purchased a new position in State Street during the 4th quarter worth approximately $272,000. KBC Group NV raised its position in State Street by 20.5% during the 3rd quarter. KBC Group NV now owns 74,680 shares of the asset manager’s stock worth $6,607,000 after buying an additional 12,707 shares during the last quarter. Janney Montgomery Scott LLC increased its holdings in shares of State Street by 11.1% during the 4th quarter. Janney Montgomery Scott LLC now owns 74,268 shares of the asset manager’s stock valued at $7,289,000 after purchasing an additional 7,446 shares in the last quarter. Merit Financial Group LLC purchased a new position in shares of State Street during the 4th quarter valued at approximately $395,000. Finally, Asset Management One Co. Ltd. increased its holdings in shares of State Street by 17.3% during the 3rd quarter. Asset Management One Co. Ltd. now owns 137,040 shares of the asset manager’s stock valued at $12,124,000 after purchasing an additional 20,183 shares in the last quarter. 87.44% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at State Street

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

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on STT shares. Evercore ISI lifted their target price on shares of State Street from $89.00 to $94.00 and gave the company an “outperform” rating in a report on Wednesday, October 16th. Truist Financial cut their target price on shares of State Street from $106.00 to $104.00 and set a “hold” rating for the company in a report on Tuesday, January 21st. Wolfe Research raised shares of State Street from an “underperform” rating to a “peer perform” rating in a report on Monday, January 27th. Barclays lifted their price target on shares of State Street from $108.00 to $127.00 and gave the company an “overweight” rating in a research note on Monday, January 6th. Finally, StockNews.com raised shares of State Street from a “hold” rating to a “buy” rating in a research note on Saturday, January 25th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, State Street currently has a consensus rating of “Hold” and an average target price of $100.73.

State Street Stock Up 0.6 %

Shares of NYSE:STT opened at $98.67 on Wednesday. The company has a debt-to-equity ratio of 1.03, a current ratio of 0.56 and a quick ratio of 0.56. The firm has a market capitalization of $28.92 billion, a PE ratio of 11.97, a price-to-earnings-growth ratio of 1.12 and a beta of 1.43. The firm’s 50-day moving average is $98.53 and its two-hundred day moving average is $91.91. State Street Co. has a 1 year low of $70.20 and a 1 year high of $103.00.

State Street (NYSE:STT) last issued its quarterly earnings results on Friday, January 17th. The asset manager reported $2.60 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.29 by $0.31. The company had revenue of $3.41 billion for the quarter, compared to analyst estimates of $3.27 billion. State Street had a net margin of 12.14% and a return on equity of 12.60%. The business’s revenue for the quarter was up 12.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.04 earnings per share. Analysts predict that State Street Co. will post 9.6 EPS for the current year.

State Street Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, January 13th. Stockholders of record on Thursday, January 2nd were given a dividend of $0.76 per share. 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 presently 36.89%.

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.