Principal Financial Group Inc. Sells 368 Shares of Amalgamated Financial Corp. (NASDAQ:AMAL)

Principal Financial Group Inc. decreased its stake in Amalgamated Financial Corp. (NASDAQ:AMAL) by 2.1% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 17,270 shares of the company’s stock after selling 368 shares during the period. Principal Financial Group Inc. owned about 0.06% of Amalgamated Financial worth $542,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in AMAL. FMR LLC boosted its position in Amalgamated Financial by 198.0% during the 3rd quarter. FMR LLC now owns 35,663 shares of the company’s stock worth $1,119,000 after buying an additional 23,697 shares during the period. American Century Companies Inc. raised its stake in shares of Amalgamated Financial by 17.4% during the second quarter. American Century Companies Inc. now owns 428,745 shares of the company’s stock valued at $11,748,000 after acquiring an additional 63,561 shares during the last quarter. State Street Corp lifted its holdings in shares of Amalgamated Financial by 4.9% during the third quarter. State Street Corp now owns 704,868 shares of the company’s stock worth $22,112,000 after purchasing an additional 33,095 shares during the period. Tidal Investments LLC bought a new stake in shares of Amalgamated Financial in the third quarter worth $496,000. Finally, LSV Asset Management acquired a new stake in Amalgamated Financial in the second quarter valued at $1,378,000. Institutional investors and hedge funds own 75.93% of the company’s stock.

Insiders Place Their Bets

In related news, major shareholder States Regional Joint Western sold 10,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 20th. The stock was sold at an average price of $35.21, for a total value of $352,100.00. Following the transaction, the insider now owns 7,185,816 shares in the company, valued at approximately $253,012,581.36. This represents a 0.14 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Jason Darby sold 4,000 shares of the stock in a transaction 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 transaction, the chief financial officer now directly owns 50,208 shares of the company’s stock, valued at approximately $1,837,110.72. This trade represents a 7.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 591,849 shares of company stock valued at $21,099,252. Corporate insiders own 0.90% of the company’s stock.

Amalgamated Financial Stock Up 1.2 %

Shares of NASDAQ AMAL opened at $33.57 on Monday. The company has a quick ratio of 0.63, a current ratio of 0.63 and a debt-to-equity ratio of 0.10. The firm has a market cap of $1.03 billion, a PE ratio of 9.87 and a beta of 0.93. The company’s fifty day simple moving average is $34.96 and its 200 day simple moving average is $31.98. Amalgamated Financial Corp. has a 12-month low of $21.33 and a 12-month high of $38.19.

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

Amalgamated Financial Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, November 21st. Investors of record on Tuesday, November 5th were issued a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 1.43%. The ex-dividend date was Tuesday, November 5th. Amalgamated Financial’s dividend payout ratio (DPR) is presently 14.12%.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on AMAL shares. Keefe, Bruyette & Woods raised their price objective on Amalgamated Financial from $41.00 to $45.00 and gave the stock an “outperform” rating in a research report on Wednesday, December 4th. Piper Sandler raised their price target on shares of Amalgamated Financial from $39.00 to $42.00 and gave the stock an “overweight” rating in a report on Wednesday, December 4th.

Amalgamated Financial Company 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.