Principal Financial Group Inc. Buys 1,265 Shares of Amalgamated Financial Corp. (NASDAQ:AMAL)

Principal Financial Group Inc. increased its stake in Amalgamated Financial Corp. (NASDAQ:AMALFree Report) by 8.7% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 15,883 shares of the company’s stock after acquiring an additional 1,265 shares during the period. Principal Financial Group Inc. owned about 0.05% of Amalgamated Financial worth $381,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Schroder Investment Management Group raised its position in Amalgamated Financial by 26.5% during the 3rd quarter. Schroder Investment Management Group now owns 317,107 shares of the company’s stock valued at $5,461,000 after purchasing an additional 66,420 shares during the last quarter. Clean Yield Group raised its position in Amalgamated Financial by 3.5% during the 4th quarter. Clean Yield Group now owns 145,464 shares of the company’s stock valued at $3,919,000 after purchasing an additional 4,960 shares during the last quarter. Arjuna Capital raised its position in Amalgamated Financial by 6.6% during the 4th quarter. Arjuna Capital now owns 167,994 shares of the company’s stock valued at $4,526,000 after purchasing an additional 10,448 shares during the last quarter. Truist Financial Corp bought a new position in Amalgamated Financial during the 4th quarter valued at approximately $427,000. Finally, Assenagon Asset Management S.A. raised its position in Amalgamated Financial by 30.6% during the 4th quarter. Assenagon Asset Management S.A. now owns 129,127 shares of the company’s stock valued at $3,479,000 after purchasing an additional 30,262 shares during the last quarter. Institutional investors own 75.93% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on AMAL. JPMorgan Chase & Co. upped their target price on Amalgamated Financial from $31.50 to $32.50 and gave the stock an “overweight” rating in a report on Thursday, June 27th. Piper Sandler reiterated an “overweight” rating and set a $29.00 target price (up previously from $28.00) on shares of Amalgamated Financial in a report on Friday, April 26th. Finally, Keefe, Bruyette & Woods reduced their target price on Amalgamated Financial from $32.00 to $30.00 and set an “outperform” rating on the stock in a report on Friday, April 5th.

Read Our Latest Research Report on AMAL

Insider Buying and Selling at Amalgamated Financial

In other Amalgamated Financial news, EVP Sam D. Brown sold 8,994 shares of the stock in a transaction on Monday, May 6th. The stock was sold at an average price of $25.47, for a total transaction of $229,077.18. Following the sale, the executive vice president now directly owns 45,970 shares in the company, valued at approximately $1,170,855.90. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, EVP Sam D. Brown sold 8,994 shares of the stock in a transaction on Monday, May 6th. The stock was sold at an average price of $25.47, for a total transaction of $229,077.18. Following the transaction, the executive vice president now directly owns 45,970 shares of the company’s stock, valued at approximately $1,170,855.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Edgar Romney, Jr. sold 8,269 shares of the stock in a transaction on Thursday, May 16th. The shares were sold at an average price of $25.25, for a total value of $208,792.25. Following the transaction, the insider now directly owns 13,856 shares in the company, valued at $349,864. The disclosure for this sale can be found here. In the last three months, insiders have sold 21,263 shares of company stock worth $545,949. Insiders own 0.90% of the company’s stock.

Amalgamated Financial Stock Performance

Amalgamated Financial stock opened at $25.82 on Friday. The company has a quick ratio of 0.64, a current ratio of 0.64 and a debt-to-equity ratio of 0.23. The company has a market capitalization of $788.03 million, a P/E ratio of 8.44 and a beta of 0.94. The stock’s 50 day moving average is $25.34 and its 200 day moving average is $24.73. Amalgamated Financial Corp. has a twelve month low of $15.19 and a twelve month high of $27.77.

Amalgamated Financial (NASDAQ:AMALGet Free Report) last posted its quarterly earnings results on Thursday, April 25th. The company reported $0.83 earnings per share for the quarter, topping the consensus estimate of $0.72 by $0.11. Amalgamated Financial had a return on equity of 16.34% and a net margin of 23.22%. The company had revenue of $107.16 million for the quarter, compared to the consensus estimate of $75.77 million. During the same quarter in the prior year, the business posted $0.74 EPS. On average, equities research analysts predict that Amalgamated Financial Corp. will post 3.1 earnings per share for the current fiscal year.

Amalgamated Financial Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, May 22nd. Shareholders of record on Wednesday, May 8th were paid a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 1.86%. This is an increase from Amalgamated Financial’s previous quarterly dividend of $0.10. The ex-dividend date was Tuesday, May 7th. Amalgamated Financial’s dividend payout ratio (DPR) is currently 15.69%.

Amalgamated Financial Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Amalgamated Financial (NASDAQ:AMAL)

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