Allianz Asset Management GmbH lifted its stake in Green Dot Co. (NYSE:GDOT) by 59.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 107,303 shares of the financial services provider’s stock after acquiring an additional 39,960 shares during the quarter. Allianz Asset Management GmbH owned 0.21% of Green Dot worth $6,466,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds also recently made changes to their positions in GDOT. Nationwide Fund Advisors grew its stake in shares of Green Dot by 184.0% in the third quarter. Nationwide Fund Advisors now owns 129,863 shares of the financial services provider’s stock worth $6,439,000 after acquiring an additional 84,133 shares during the period. Crossmark Global Holdings Inc. bought a new stake in shares of Green Dot in the third quarter worth approximately $428,000. American Century Companies Inc. grew its stake in shares of Green Dot by 5.1% in the third quarter. American Century Companies Inc. now owns 146,339 shares of the financial services provider’s stock worth $7,255,000 after acquiring an additional 7,165 shares during the period. Prudential Financial Inc. grew its stake in shares of Green Dot by 96.3% in the third quarter. Prudential Financial Inc. now owns 146,215 shares of the financial services provider’s stock worth $7,249,000 after acquiring an additional 71,730 shares during the period. Finally, Principal Financial Group Inc. grew its stake in shares of Green Dot by 2.4% in the third quarter. Principal Financial Group Inc. now owns 352,312 shares of the financial services provider’s stock worth $17,468,000 after acquiring an additional 8,142 shares during the period. Hedge funds and other institutional investors own 82.95% of the company’s stock.
In other news, CAO Jess Unruh sold 5,670 shares of the business’s stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $65.00, for a total value of $368,550.00. Following the transaction, the chief accounting officer now owns 99,075 shares of the company’s stock, valued at $6,439,875. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Steven W. Streit sold 6,830 shares of the business’s stock in a transaction on Tuesday, January 9th. The stock was sold at an average price of $62.00, for a total transaction of $423,460.00. Following the completion of the transaction, the chief executive officer now directly owns 176,621 shares in the company, valued at approximately $10,950,502. The disclosure for this sale can be found here. Insiders have sold 329,349 shares of company stock worth $20,589,781 in the last ninety days. Insiders own 11.00% of the company’s stock.
NYSE:GDOT traded down $1.67 during trading hours on Friday, hitting $61.74. 437,532 shares of the stock traded hands, compared to its average volume of 353,989. The company has a debt-to-equity ratio of 0.08, a current ratio of 0.99 and a quick ratio of 0.99. Green Dot Co. has a 1 year low of $32.04 and a 1 year high of $69.37. The company has a market capitalization of $3,249.00, a P/E ratio of 39.08 and a beta of 0.73.
Green Dot (NYSE:GDOT) last issued its quarterly earnings results on Wednesday, February 21st. The financial services provider reported $0.29 earnings per share for the quarter, beating the consensus estimate of $0.25 by $0.04. Green Dot had a net margin of 9.65% and a return on equity of 12.32%. The business had revenue of $212.99 million for the quarter, compared to the consensus estimate of $206.07 million. During the same quarter in the previous year, the firm earned $0.19 earnings per share. The company’s revenue for the quarter was up 30.9% on a year-over-year basis. sell-side analysts anticipate that Green Dot Co. will post 2.44 earnings per share for the current fiscal year.
GDOT has been the topic of a number of research reports. Citigroup raised shares of Green Dot from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $66.00 to $68.00 in a report on Tuesday, February 13th. William Blair reissued an “outperform” rating on shares of Green Dot in a report on Monday, February 12th. Compass Point downgraded shares of Green Dot from a “buy” rating to a “neutral” rating in a report on Tuesday, March 13th. Craig Hallum reissued a “buy” rating and issued a $75.00 price objective (up previously from $70.00) on shares of Green Dot in a report on Thursday, February 22nd. Finally, Morgan Stanley reissued a “hold” rating and issued a $62.00 price objective (up previously from $60.00) on shares of Green Dot in a report on Thursday, February 22nd. Six research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company. Green Dot currently has a consensus rating of “Buy” and an average price target of $63.29.
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Green Dot Profile
Green Dot Corporation, together with its subsidiaries, operates as a pro-consumer bank holding company that provides personal banking for the masses. It operates through two segments, Account Services and Processing, and Settlement Services. The company offers deposit as account programs, such reloadable prepaid debit cards under the consumer brand names of GPR cards, consumer checking accounts, small business checking accounts, network-branded gift cards, secured credit cards, and other financial services.
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