Principal Financial Group Inc. Has $542,000 Stock Position in Amalgamated Financial Corp. (NASDAQ:AMAL)

Principal Financial Group Inc. lessened its stake in Amalgamated Financial Corp. (NASDAQ:AMAL) by 2.1% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 17,270 shares of the company’s stock after selling 368 shares during the quarter. Principal Financial Group Inc. owned about 0.06% of Amalgamated Financial worth $542,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Rhumbline Advisers increased its position in Amalgamated Financial by 1.3% in the 2nd quarter. Rhumbline Advisers now owns 29,996 shares of the company’s stock valued at $822,000 after acquiring an additional 393 shares during the period. US Bancorp DE grew its holdings in Amalgamated Financial by 28.4% in the third quarter. US Bancorp DE now owns 2,312 shares of the company’s stock worth $73,000 after purchasing an additional 512 shares during the period. DekaBank Deutsche Girozentrale boosted its holdings in Amalgamated Financial by 12.3% in the second quarter. DekaBank Deutsche Girozentrale now owns 4,816 shares of the company’s stock worth $126,000 after acquiring an additional 528 shares in the last quarter. Panagora Asset Management Inc. increased its stake in Amalgamated Financial by 1.7% during the 2nd quarter. Panagora Asset Management Inc. now owns 36,364 shares of the company’s stock valued at $996,000 after purchasing an additional 616 shares in the last quarter. Finally, Quest Partners LLC boosted its stake in Amalgamated Financial by 6.9% during the 2nd quarter. Quest Partners LLC now owns 10,028 shares of the company’s stock valued at $275,000 after purchasing an additional 646 shares during the last quarter. Institutional investors own 75.93% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Keefe, Bruyette & Woods reissued an “outperform” rating and issued a $35.00 price objective (up previously from $30.00) on shares of Amalgamated Financial in a research report on Monday, July 29th.

Insider Buying and Selling

In other Amalgamated Financial news, CFO Jason Darby sold 4,000 shares of Amalgamated Financial stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $36.59, for a total value of $146,360.00. Following the completion of the sale, the chief financial officer now owns 50,208 shares of the company’s stock, valued at approximately $1,837,110.72. The trade was a 7.38 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, major shareholder United Canada Council Workers sold 82,464 shares of the stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $31.05, for a total value of $2,560,507.20. Following the completion of the transaction, the insider now directly owns 440,401 shares in the company, valued at approximately $13,674,451.05. This represents a 15.77 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 718,890 shares of company stock worth $24,995,731 in the last three months. 0.90% of the stock is owned by corporate insiders.

Amalgamated Financial Stock Performance

NASDAQ AMAL opened at $36.51 on Monday. Amalgamated Financial Corp. has a 52-week low of $20.39 and a 52-week high of $38.19. The company has a fifty day moving average of $33.43 and a 200-day moving average of $29.99. The company has a market capitalization of $1.12 billion, a P/E ratio of 10.74 and a beta of 0.91. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.63 and a current ratio of 0.63.

Amalgamated Financial (NASDAQ:AMAL) last released its earnings results on Thursday, October 24th. The company reported $0.91 earnings per share for the quarter, beating analysts’ consensus estimates of $0.83 by $0.08. The company had revenue of $111.76 million during the quarter, compared to analyst estimates of $79.50 million. Amalgamated Financial had a return on equity of 16.00% and a net margin of 24.19%. During the same quarter in the previous year, the company posted $0.76 EPS. As a group, equities research analysts predict that Amalgamated Financial Corp. will post 3.46 EPS for the current fiscal year.

Amalgamated Financial Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, November 21st. Stockholders of record on Tuesday, November 5th were given a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.31%. The ex-dividend date was Tuesday, November 5th. Amalgamated Financial’s dividend payout ratio is presently 14.12%.

Amalgamated Financial Profile

Amalgamated Financial Corp. operates as the bank holding company for Amalgamated Bank that provides commercial and retail banking, investment management, and trust and custody services for commercial and retail customers in the United States. The company accepts various deposit products, including non-interest bearing accounts, interest-bearing demand products, savings accounts, money market accounts, NOW accounts, and certificates of deposit.