Principal Financial Group Inc. Raises Holdings in Green Dot Co. (NYSE:GDOT)

Principal Financial Group Inc. increased its position in Green Dot Co. (NYSE:GDOT) by 3.0% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 260,772 shares of the financial services provider’s stock after acquiring an additional 7,642 shares during the period. Principal Financial Group Inc. owned about 0.48% of Green Dot worth $2,775,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of GDOT. Amalgamated Bank lifted its position in shares of Green Dot by 14.0% in the third quarter. Amalgamated Bank now owns 15,607 shares of the financial services provider’s stock valued at $183,000 after acquiring an additional 1,920 shares in the last quarter. Intech Investment Management LLC grew its stake in shares of Green Dot by 33.1% during the third quarter. Intech Investment Management LLC now owns 20,007 shares of the financial services provider’s stock valued at $234,000 after buying an additional 4,977 shares during the last quarter. Louisiana State Employees Retirement System grew its stake in shares of Green Dot by 13.0% during the third quarter. Louisiana State Employees Retirement System now owns 26,000 shares of the financial services provider’s stock valued at $304,000 after buying an additional 3,000 shares during the last quarter. State of Alaska Department of Revenue grew its stake in Green Dot by 14.1% in the third quarter. State of Alaska Department of Revenue now owns 30,650 shares of the financial services provider’s stock worth $358,000 after purchasing an additional 3,783 shares in the last quarter. Finally, Quantbot Technologies LP grew its stake in Green Dot by 49.7% in the third quarter. Quantbot Technologies LP now owns 30,750 shares of the financial services provider’s stock worth $360,000 after purchasing an additional 10,212 shares in the last quarter. Institutional investors own 92.56% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have issued reports on the company. Barclays dropped their target price on Green Dot from $10.00 to $7.00 and set an “underweight” rating on the stock in a research report on Monday. Keefe, Bruyette & Woods reduced their target price on Green Dot from $12.00 to $10.00 and set a “market perform” rating for the company in a research note on Friday, February 28th.

Green Dot Price Performance

Shares of GDOT opened at $6.83 on Wednesday. The business’s 50-day moving average is $9.20 and its two-hundred day moving average is $10.48. The company has a market capitalization of $367.10 million, a P/E ratio of -6.50 and a beta of 0.90. The company has a debt-to-equity ratio of 0.05, a quick ratio of 0.52 and a current ratio of 0.52. Green Dot Co. has a fifty-two week low of $6.42 and a fifty-two week high of $13.58.

Insiders Place Their Bets

In related news, insider Topline Capital Management, Ll sold 380,611 shares of Green Dot stock in a transaction dated Monday, December 30th. The stock was sold at an average price of $10.44, for a total value of $3,973,578.84. Following the sale, the insider now directly owns 5,708,126 shares in the company, valued at approximately $59,592,835.44. The trade was a 6.25 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, major shareholder Topline Capital Partners, Lp sold 331,339 shares of the firm’s stock in a transaction that occurred on Tuesday, December 31st. The stock was sold at an average price of $10.54, for a total transaction of $3,492,313.06. Following the completion of the transaction, the insider now directly owns 5,376,787 shares in the company, valued at $56,671,334.98. This trade represents a 5.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 959,180 shares of company stock valued at $10,071,696. Company insiders own 1.10% of the company’s stock.

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.