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

Principal Financial Group Inc. lowered its holdings in Amalgamated Financial Corp. (NASDAQ:AMAL) by 2.1% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 17,270 shares of the company’s stock after selling 368 shares during the period. Principal Financial Group Inc.’s holdings in Amalgamated Financial were worth $542,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of AMAL. US Bancorp DE lifted its position in shares of Amalgamated Financial by 28.4% during the third quarter. US Bancorp DE now owns 2,312 shares of the company’s stock worth $73,000 after acquiring an additional 512 shares in the last quarter. CWM LLC boosted its stake in Amalgamated Financial by 74.9% in the 3rd quarter. CWM LLC now owns 2,414 shares of the company’s stock worth $76,000 after purchasing an additional 1,034 shares during the period. DekaBank Deutsche Girozentrale grew its holdings in Amalgamated Financial by 12.3% during the 2nd quarter. DekaBank Deutsche Girozentrale now owns 4,816 shares of the company’s stock valued at $126,000 after buying an additional 528 shares in the last quarter. The Manufacturers Life Insurance Company bought a new stake in shares of Amalgamated Financial during the third quarter valued at about $214,000. Finally, Quantbot Technologies LP lifted its holdings in shares of Amalgamated Financial by 9,898.7% in the third quarter. Quantbot Technologies LP now owns 7,599 shares of the company’s stock worth $238,000 after buying an additional 7,523 shares in the last quarter. 75.93% of the stock is currently owned by hedge funds and other institutional investors.

Amalgamated Financial Stock Performance

NASDAQ AMAL opened at $33.57 on Monday. The company has a 50-day simple moving average of $34.96 and a two-hundred day simple moving average of $31.98. The company has a quick ratio of 0.63, a current ratio of 0.63 and a debt-to-equity ratio of 0.10. Amalgamated Financial Corp. has a 12-month low of $21.33 and a 12-month high of $38.19. The firm has a market cap of $1.03 billion, a price-to-earnings ratio of 9.87 and a beta of 0.93.

Amalgamated Financial (NASDAQ:AMAL) last issued its quarterly earnings data on Thursday, October 24th. The company reported $0.91 earnings per share for the quarter, topping analysts’ consensus estimates of $0.83 by $0.08. The firm had revenue of $111.76 million for 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 period last year, the company earned $0.76 EPS. On average, equities analysts forecast that Amalgamated Financial Corp. will post 3.46 EPS for the current year.

Amalgamated Financial Announces Dividend

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

Analyst Ratings Changes

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

Insider Activity at Amalgamated Financial

In related news, CFO Jason Darby sold 4,000 shares of the business’s stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $36.59, for a total transaction of $146,360.00. Following the completion of the sale, the chief financial officer now directly owns 50,208 shares in the company, valued at approximately $1,837,110.72. The trade was a 7.38 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Sean Searby sold 8,000 shares of the stock in a transaction that occurred on Wednesday, October 30th. The stock was sold at an average price of $34.14, for a total transaction of $273,120.00. Following the completion of the transaction, the executive vice president now owns 15,802 shares in the company, valued at $539,480.28. The trade was a 33.61 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 591,849 shares of company stock valued at $21,099,252 over the last 90 days. Corporate insiders own 0.90% of the company’s stock.

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.