Principal Financial Group Inc. Grows Stock Position in Green Dot Co. (NYSE:GDOT)

Principal Financial Group Inc. lifted its holdings in shares of Green Dot Co. (NYSE:GDOT) by 11.8% during the third quarter, according to its most recent disclosure with the SEC. The fund owned 253,130 shares of the financial services provider’s stock after acquiring an additional 26,676 shares during the period. Principal Financial Group Inc. owned approximately 0.47% of Green Dot worth $2,964,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of GDOT. Headlands Technologies LLC increased its stake in shares of Green Dot by 44.3% in the second quarter. Headlands Technologies LLC now owns 3,957 shares of the financial services provider’s stock worth $37,000 after acquiring an additional 1,214 shares during the period. Point72 Asset Management L.P. grew its position in Green Dot by 7.3% during the 2nd quarter. Point72 Asset Management L.P. now owns 21,130 shares of the financial services provider’s stock worth $200,000 after purchasing an additional 1,430 shares during the period. Amalgamated Bank raised its stake in shares of Green Dot by 14.0% during the 3rd quarter. Amalgamated Bank now owns 15,607 shares of the financial services provider’s stock valued at $183,000 after buying an additional 1,920 shares during the last quarter. The Manufacturers Life Insurance Company lifted its holdings in shares of Green Dot by 12.4% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 21,125 shares of the financial services provider’s stock valued at $200,000 after buying an additional 2,331 shares during the period. Finally, nVerses Capital LLC purchased a new stake in shares of Green Dot in the second quarter worth about $25,000. Institutional investors and hedge funds own 92.56% of the company’s stock.

Wall Street Analyst Weigh In

GDOT has been the subject of several recent analyst reports. Barclays lifted their price target on Green Dot from $7.00 to $10.00 and gave the company an “underweight” rating in a research note on Monday, September 23rd. Craig Hallum lifted their price target on shares of Green Dot from $10.00 to $11.00 and gave the company a “hold” rating in a research note on Friday, October 4th. One analyst has rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $10.75.

Green Dot Trading Down 5.9 %

GDOT opened at $9.95 on Friday. The firm has a market cap of $535.18 million, a price-to-earnings ratio of -9.48 and a beta of 0.90. Green Dot Co. has a 52 week low of $7.70 and a 52 week high of $13.58. The business’s 50 day moving average is $10.87 and its two-hundred day moving average is $10.64. The company has a quick ratio of 0.52, a current ratio of 0.52 and a debt-to-equity ratio of 0.05.

Insider Buying and Selling

In other news, insider Topline Capital Management, Ll sold 247,230 shares of the company’s stock in a transaction on Friday, December 27th. The shares were sold at an average price of $10.54, for a total transaction of $2,605,804.20. Following the transaction, the insider now directly owns 6,088,737 shares of the company’s stock, valued at $64,175,287.98. This represents a 3.90 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, major shareholder Topline Capital Partners, Lp bought 135,123 shares of the stock in a transaction on Friday, November 8th. The shares were bought at an average price of $10.94 per share, for a total transaction of $1,478,245.62. Following the completion of the transaction, the insider now directly owns 6,292,788 shares of the company’s stock, valued at $68,843,100.72. This trade represents a 2.19 % increase in their position. The disclosure for this purchase can be found here. Insiders sold a total of 959,180 shares of company stock valued at $10,071,696 over the last three months. 1.10% of the stock is currently owned by company insiders.

About Green Dot

Green Dot Corporation, a financial technology and registered bank holding company, provides various financial services to consumers and businesses in the United States. It operates through three segments: Consumer Services, Business to Business Services, and Money Movement Services. The company provides deposit account programs, including consumer and small business checking account products, network-branded reloadable prepaid debit cards and gift cards, and secured credit programs.