State Street Co. (NYSE:STT) Shares Sold by Assetmark Inc.

Assetmark Inc. lowered its stake in shares of State Street Co. (NYSE:STT) by 88.9% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund 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 quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Albion Financial Group UT acquired a new position in shares of State Street in the 4th quarter valued at $25,000. Y.D. More Investments Ltd lifted its stake in shares of State Street by 116.6% in the 4th quarter. Y.D. More Investments Ltd now owns 366 shares of the asset manager’s stock valued at $36,000 after purchasing an additional 197 shares during the last quarter. Kohmann Bosshard Financial Services LLC acquired a new position in shares of State Street in the 4th quarter valued at $42,000. Coastline Trust Co acquired a new position in shares of State Street in the 3rd quarter valued at $44,000. Finally, Friedenthal Financial acquired a new position in shares of State Street in the 4th quarter valued at $49,000. Institutional investors and hedge funds own 87.44% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently commented on STT. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and issued a $103.00 price target (down previously from $104.00) on shares of State Street in a research note on Wednesday, January 22nd. Morgan Stanley cut their price objective on State Street from $142.00 to $139.00 and set an “overweight” rating on the stock in a report on Thursday, March 6th. JPMorgan Chase & Co. upgraded State Street from an “underweight” rating to a “neutral” rating and set a $95.00 price objective on the stock in a report on Friday, December 20th. 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 report on Tuesday, December 3rd. Finally, StockNews.com downgraded State Street from a “buy” rating to a “hold” rating in a report on Friday, March 7th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $101.20.

State Street Trading Up 2.9 %

Shares of STT stock opened at $86.90 on Friday. The business’s 50 day moving average is $96.69 and its two-hundred day moving average is $94.10. State Street Co. has a twelve month low of $70.20 and a twelve month high of $103.00. The company has a market capitalization of $25.07 billion, a P/E ratio of 10.55, a price-to-earnings-growth ratio of 1.11 and a beta of 1.44. The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 1.03.

State Street (NYSE:STT) last posted its quarterly earnings results on Friday, January 17th. The asset manager reported $2.60 earnings per share for the quarter, beating analysts’ consensus estimates of $2.29 by $0.31. State Street had a return on equity of 12.60% and a net margin of 12.14%. The firm had revenue of $3.41 billion for the quarter, compared to the consensus estimate of $3.27 billion. During the same period in the previous year, the business earned $2.04 earnings per share. The company’s revenue for the quarter was up 12.1% compared to the same quarter last year. Equities analysts forecast that State Street Co. 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, April 11th. Investors of record on Tuesday, April 1st will be issued a dividend of $0.76 per share. The ex-dividend date of this dividend is Tuesday, April 1st. This represents a $3.04 annualized dividend and a yield of 3.50%. State Street’s dividend payout ratio is presently 36.89%.

Insider Buying and Selling

In other news, EVP Ann Fogarty sold 3,705 shares of the business’s stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $99.47, for a total value of $368,536.35. Following the completion of the transaction, the executive vice president now directly owns 50,816 shares of the company’s stock, valued at $5,054,667.52. The trade was a 6.80 % 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. Also, Director Gregory L. Summe sold 10,815 shares of the business’s stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $100.00, for a total value of $1,081,500.00. Following the completion of the transaction, the director now directly owns 100,023 shares of the company’s stock, valued at approximately $10,002,300. This trade represents a 9.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.31% of the stock is currently owned by insiders.

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.