Atria Investments Inc Sells 754 Shares of SouthState Co. (NASDAQ:SSB)

Atria Investments Inc cut its position in SouthState Co. (NASDAQ:SSB) by 12.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 5,543 shares of the bank’s stock after selling 754 shares during the period. Atria Investments Inc’s holdings in SouthState were worth $551,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Louisiana State Employees Retirement System grew its stake in SouthState by 0.5% during the fourth quarter. Louisiana State Employees Retirement System now owns 21,200 shares of the bank’s stock valued at $2,109,000 after acquiring an additional 100 shares in the last quarter. CIBC Asset Management Inc grew its stake in SouthState by 5.7% during the fourth quarter. CIBC Asset Management Inc now owns 2,324 shares of the bank’s stock valued at $231,000 after acquiring an additional 126 shares in the last quarter. Caprock Group LLC grew its stake in SouthState by 5.8% during the fourth quarter. Caprock Group LLC now owns 2,567 shares of the bank’s stock valued at $255,000 after acquiring an additional 140 shares in the last quarter. Oppenheimer Asset Management Inc. grew its stake in SouthState by 0.6% during the fourth quarter. Oppenheimer Asset Management Inc. now owns 22,635 shares of the bank’s stock valued at $2,252,000 after acquiring an additional 141 shares in the last quarter. Finally, Blue Trust Inc. grew its stake in SouthState by 16.8% during the fourth quarter. Blue Trust Inc. now owns 1,161 shares of the bank’s stock valued at $113,000 after acquiring an additional 167 shares in the last quarter. 89.76% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts have commented on the stock. Citigroup upgraded shares of SouthState from a “neutral” rating to a “buy” rating and increased their price objective for the company from $106.00 to $128.00 in a research report on Monday, January 27th. UBS Group assumed coverage on shares of SouthState in a research report on Tuesday, December 17th. They set a “buy” rating and a $132.00 price objective for the company. Finally, Stephens reiterated an “overweight” rating and set a $130.00 price objective on shares of SouthState in a research report on Friday, March 7th. Two analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $115.44.

SouthState Trading Up 2.4 %

NASDAQ SSB opened at $91.57 on Friday. The company has a debt-to-equity ratio of 0.07, a quick ratio of 0.91 and a current ratio of 0.91. The company has a market capitalization of $9.28 billion, a price-to-earnings ratio of 13.16 and a beta of 0.68. The company’s 50-day simple moving average is $99.68 and its two-hundred day simple moving average is $100.67. SouthState Co. has a one year low of $70.68 and a one year high of $114.27.

SouthState Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Friday, February 7th were given a dividend of $0.54 per share. This represents a $2.16 dividend on an annualized basis and a yield of 2.36%. The ex-dividend date was Friday, February 7th. SouthState’s dividend payout ratio (DPR) is 31.03%.

Insider Transactions at SouthState

In related news, CFO William E. V. Matthews sold 6,531 shares of the business’s stock in a transaction on Wednesday, January 29th. The shares were sold at an average price of $108.29, for a total value of $707,241.99. Following the completion of the transaction, the chief financial officer now directly owns 34,107 shares in the company, valued at $3,693,447.03. The trade was a 16.07 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CAO Sara Arana sold 1,991 shares of the business’s stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $100.78, for a total transaction of $200,652.98. Following the completion of the transaction, the chief accounting officer now owns 4,787 shares of the company’s stock, valued at approximately $482,433.86. This represents a 29.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 1.26% of the company’s stock.

SouthState Company Profile

SouthState Corporation operates as the bank holding company for SouthState Bank, National Association that provides a range of banking services and products to individuals and companies. It offers checking accounts, savings deposits, interest-bearing transaction accounts, certificates of deposits, money market accounts, and other time deposits, as well as bond accounting, asset/liability consulting related activities, and other clearing and corporate checking account services.