Assetmark Inc. Has $57,000 Stock Holdings in State Street Co. (NYSE:STT)

Assetmark Inc. decreased its holdings in shares of State Street Co. (NYSE:STT - Free Report) by 88.9% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 577 shares of the asset manager's stock after selling 4,616 shares during the period. Assetmark Inc.'s holdings in State Street were worth $57,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of STT. Albion Financial Group UT purchased a new stake in shares of State Street during the 4th quarter valued at $25,000. Y.D. More Investments Ltd boosted its holdings in State Street by 116.6% in the fourth quarter. Y.D. More Investments Ltd now owns 366 shares of the asset manager's stock worth $36,000 after acquiring an additional 197 shares in the last quarter. Kohmann Bosshard Financial Services LLC acquired a new position in shares of State Street during the fourth quarter valued at about $42,000. Coastline Trust Co acquired a new stake in shares of State Street during the third quarter worth $44,000. Finally, Friedenthal Financial purchased a new stake in shares of State Street during the fourth quarter valued at $49,000. Institutional investors own 87.44% of the company's stock.

State Street Stock Up 2.5 %

STT stock traded up $2.22 during mid-day trading on Wednesday, hitting $90.33. 1,355,644 shares of the company were exchanged, compared to its average volume of 2,061,206. The company has a market capitalization of $26.06 billion, a PE ratio of 10.96, a price-to-earnings-growth ratio of 1.11 and a beta of 1.44. State Street Co. has a twelve month low of $70.20 and a twelve month high of $103.00. The firm has a fifty day simple moving average of $96.29 and a 200 day simple moving average of $94.19. The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 1.03.

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State Street (NYSE:STT - Get Free Report) last posted 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. State Street had a net margin of 12.14% and a return on equity of 12.60%. The company had revenue of $3.41 billion for the quarter, compared to the consensus estimate of $3.27 billion. During the same period last year, the firm posted $2.04 EPS. The company's revenue for the quarter was up 12.1% on a year-over-year basis. On average, research analysts forecast that State Street Co. will post 9.68 earnings per share for the current fiscal year.

State Street Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, April 11th. Shareholders of record on Tuesday, April 1st will be given a $0.76 dividend. This represents a $3.04 annualized dividend and a yield of 3.37%. The ex-dividend date of this dividend is Tuesday, April 1st. State Street's dividend payout ratio (DPR) is 36.89%.

Analyst Ratings Changes

Several brokerages have weighed in on STT. Keefe, Bruyette & Woods raised State Street from a "market perform" rating to an "outperform" rating and increased their price target for the stock from $105.00 to $120.00 in a research report on Tuesday, December 3rd. Deutsche Bank Aktiengesellschaft reaffirmed a "hold" rating and set a $103.00 target price (down from $104.00) on shares of State Street in a report on Wednesday, January 22nd. Wells Fargo & Company lifted their target price on shares of State Street from $108.00 to $118.00 and gave the company an "overweight" rating in a report on Thursday, January 2nd. JPMorgan Chase & Co. upgraded State Street from an "underweight" rating to a "neutral" rating and set a $95.00 target price on the stock in a research report on Friday, December 20th. Finally, Morgan Stanley dropped their target price on shares of State Street from $142.00 to $139.00 and set an "overweight" rating on the stock in a research report on Thursday, March 6th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and seven have issued a buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $101.20.

Insider Buying and Selling

In other State Street news, EVP Ann Fogarty sold 3,705 shares of the company's stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $99.47, for a total value of $368,536.35. Following the completion of the sale, the executive vice president now directly owns 50,816 shares of the company's stock, valued at approximately $5,054,667.52. This represents a 6.80 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Gregory L. Summe sold 10,815 shares of the stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $100.00, for a total transaction of $1,081,500.00. Following the sale, the director now directly owns 100,023 shares of the company's stock, valued at approximately $10,002,300. This represents a 9.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.31% of the company's stock.

State Street Company 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.