Assetmark Inc. Has $459,000 Stock Holdings in State Street Co. (NYSE:STT)

Assetmark Inc. lifted its stake in shares of State Street Co. (NYSE:STT) by 4.0% during the third quarter, Holdings Channel reports. The firm owned 5,193 shares of the asset manager’s stock after purchasing an additional 201 shares during the quarter. Assetmark Inc.’s holdings in State Street were worth $459,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of STT. Benjamin F. Edwards & Company Inc. grew its stake in State Street by 5.4% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 2,514 shares of the asset manager’s stock valued at $186,000 after purchasing an additional 129 shares in the last quarter. Massmutual Trust Co. FSB ADV grew its stake in State Street by 9.3% in the second quarter. Massmutual Trust Co. FSB ADV now owns 1,739 shares of the asset manager’s stock valued at $129,000 after purchasing an additional 148 shares in the last quarter. Rockland Trust Co. grew its stake in State Street by 1.8% in the third quarter. Rockland Trust Co. now owns 8,332 shares of the asset manager’s stock valued at $737,000 after purchasing an additional 150 shares in the last quarter. Mather Group LLC. boosted its stake in shares of State Street by 10.9% during the 2nd quarter. Mather Group LLC. now owns 1,613 shares of the asset manager’s stock worth $125,000 after acquiring an additional 158 shares in the last quarter. Finally, Covestor Ltd boosted its stake in shares of State Street by 13.0% during the 1st quarter. Covestor Ltd now owns 1,539 shares of the asset manager’s stock worth $119,000 after acquiring an additional 177 shares in the last quarter. 87.44% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts recently weighed in on the company. StockNews.com raised State Street from a “hold” rating to a “buy” rating in a research report on Wednesday, October 16th. Citigroup increased their price objective on State Street from $85.00 to $90.00 and gave the company a “neutral” rating in a research report on Monday, July 22nd. Morgan Stanley increased their price target on State Street from $100.00 to $102.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 16th. Wells Fargo & Company lifted their price target on State Street from $106.00 to $108.00 and gave the company an “overweight” rating in a research note on Friday. Finally, Evercore ISI raised their price objective on State Street from $89.00 to $94.00 and gave the company an “outperform” rating in a report on Wednesday, October 16th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, State Street presently has an average rating of “Hold” and a consensus price target of $92.11.

Insider Buying and Selling at State Street

In other State Street news, EVP John Plansky sold 13,859 shares of the business’s stock in a transaction on Friday, October 18th. The shares were sold at an average price of $91.32, for a total transaction of $1,265,603.88. Following the sale, the executive vice president now directly owns 55,108 shares in the company, valued at approximately $5,032,462.56. The trade was a 20.10 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.31% of the stock is currently owned by corporate insiders.

State Street Trading Up 1.4 %

Shares of STT opened at $95.48 on Friday. The company has a debt-to-equity ratio of 0.91, a current ratio of 0.56 and a quick ratio of 0.56. The firm has a market capitalization of $27.99 billion, a price-to-earnings ratio of 15.05, a PEG ratio of 1.18 and a beta of 1.46. The company has a 50-day moving average of $89.76 and a 200 day moving average of $81.98. State Street Co. has a 1-year low of $68.92 and a 1-year high of $98.45.

State Street (NYSE:STT) last announced its quarterly earnings data on Tuesday, October 15th. The asset manager reported $2.26 EPS for the quarter, beating the consensus estimate of $2.12 by $0.14. State Street had a net margin of 9.87% and a return on equity of 12.02%. The business had revenue of $3.26 billion during the quarter, compared to analysts’ expectations of $3.19 billion. During the same period in the previous year, the business posted $1.93 EPS. The business’s quarterly revenue was up 21.1% compared to the same quarter last year. On average, research analysts expect that State Street Co. will post 8.42 EPS for the current year.

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.