Apollon Wealth Management LLC Purchases 927 Shares of State Street Corporation $STT

Apollon Wealth Management LLC grew its position in State Street Corporation (NYSE:STT) by 9.0% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 11,179 shares of the asset manager’s stock after acquiring an additional 927 shares during the period. Apollon Wealth Management LLC’s holdings in State Street were worth $1,189,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. First Pacific Financial bought a new position in shares of State Street in the first quarter valued at approximately $25,000. Capital Analysts LLC raised its stake in shares of State Street by 3,914.3% in the first quarter. Capital Analysts LLC now owns 281 shares of the asset manager’s stock valued at $25,000 after acquiring an additional 274 shares during the last quarter. Larson Financial Group LLC raised its stake in shares of State Street by 40.8% in the first quarter. Larson Financial Group LLC now owns 407 shares of the asset manager’s stock valued at $36,000 after acquiring an additional 118 shares during the last quarter. Golden State Wealth Management LLC raised its stake in shares of State Street by 186.7% in the first quarter. Golden State Wealth Management LLC now owns 476 shares of the asset manager’s stock valued at $43,000 after acquiring an additional 310 shares during the last quarter. Finally, Zions Bancorporation National Association UT bought a new position in shares of State Street in the first quarter valued at approximately $46,000. Institutional investors own 87.44% of the company’s stock.

Wall Street Analyst Weigh In

STT has been the subject of several research analyst reports. Truist Financial boosted their price objective on shares of State Street from $125.00 to $133.00 and gave the stock a “buy” rating in a research report on Thursday, October 2nd. BMO Capital Markets initiated coverage on shares of State Street in a research report on Friday, October 3rd. They issued an “outperform” rating and a $130.00 price objective for the company. Morgan Stanley restated an “overweight” rating and issued a $162.00 price objective on shares of State Street in a research report on Monday, September 29th. Cfra Research upgraded shares of State Street from a “hold” rating to a “moderate buy” rating in a research report on Tuesday, July 15th. Finally, TD Cowen initiated coverage on shares of State Street in a research report on Thursday, September 25th. They issued a “buy” rating for the company. Two research analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $122.83.

State Street Price Performance

Shares of STT stock opened at $115.39 on Wednesday. State Street Corporation has a 12-month low of $72.81 and a 12-month high of $118.24. The firm has a market capitalization of $32.74 billion, a price-to-earnings ratio of 12.92, a price-to-earnings-growth ratio of 1.17 and a beta of 1.46. The company has a quick ratio of 0.57, a current ratio of 0.57 and a debt-to-equity ratio of 1.09. The firm has a fifty day moving average of $113.42 and a 200-day moving average of $102.63.

State Street (NYSE:STT) last announced its quarterly earnings results on Tuesday, July 15th. The asset manager reported $2.53 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.36 by $0.17. State Street had a net margin of 12.59% and a return on equity of 12.96%. The company had revenue of $3.47 billion during the quarter, compared to analyst estimates of $3.33 billion. During the same quarter in the previous year, the business earned $2.15 EPS. The firm’s revenue was up 2.9% on a year-over-year basis. On average, equities research analysts forecast that State Street Corporation will post 9.68 earnings per share for the current year.

Insiders Place Their Bets

In related news, EVP Michael L. Richards sold 990 shares of the company’s stock in a transaction on Tuesday, July 22nd. The shares were sold at an average price of $109.29, for a total value of $108,197.10. Following the completion of the transaction, the executive vice president directly owned 41,332 shares of the company’s stock, valued at approximately $4,517,174.28. This represents a 2.34% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.29% of the company’s stock.

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.