Principal Financial Group Inc. Sells 7,921 Shares of Green Dot Co. (NYSE:GDOT)

Principal Financial Group Inc. cut its position in shares of Green Dot Co. (NYSE:GDOT) by 3.4% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 226,454 shares of the financial services provider’s stock after selling 7,921 shares during the period. Principal Financial Group Inc. owned about 0.43% of Green Dot worth $2,140,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of GDOT. Headlands Technologies LLC grew its position in Green Dot by 89.2% in the first quarter. Headlands Technologies LLC now owns 2,743 shares of the financial services provider’s stock valued at $26,000 after acquiring an additional 1,293 shares during the period. UMB Bank n.a. grew its position in Green Dot by 98.3% in the first quarter. UMB Bank n.a. now owns 2,855 shares of the financial services provider’s stock valued at $27,000 after acquiring an additional 1,415 shares during the period. SummerHaven Investment Management LLC grew its position in Green Dot by 4.0% in the second quarter. SummerHaven Investment Management LLC now owns 39,707 shares of the financial services provider’s stock valued at $375,000 after acquiring an additional 1,524 shares during the period. Nisa Investment Advisors LLC grew its position in Green Dot by 162.0% in the second quarter. Nisa Investment Advisors LLC now owns 2,602 shares of the financial services provider’s stock valued at $25,000 after acquiring an additional 1,609 shares during the period. Finally, Illinois Municipal Retirement Fund grew its position in Green Dot by 6.4% in the first quarter. Illinois Municipal Retirement Fund now owns 26,954 shares of the financial services provider’s stock valued at $251,000 after acquiring an additional 1,615 shares during the period. 92.56% of the stock is currently owned by institutional investors.

Green Dot Stock Performance

Green Dot stock opened at $11.07 on Thursday. The firm has a market cap of $589.03 million, a P/E ratio of -23.60 and a beta of 0.91. The business’s fifty day moving average is $10.09 and its two-hundred day moving average is $9.49. Green Dot Co. has a 52 week low of $7.30 and a 52 week high of $14.83.

Green Dot (NYSE:GDOT) last posted its quarterly earnings data on Thursday, August 8th. The financial services provider reported $0.25 EPS for the quarter, topping analysts’ consensus estimates of $0.23 by $0.02. The company had revenue of $407.10 million for the quarter, compared to analyst estimates of $381.87 million. Green Dot had a positive return on equity of 4.01% and a negative net margin of 3.41%. The business’s revenue was up 11.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.20 earnings per share. On average, equities research analysts predict that Green Dot Co. will post 1 earnings per share for the current year.

Analyst Ratings Changes

Separately, Keefe, Bruyette & Woods reiterated a “market perform” rating and issued a $11.00 price target on shares of Green Dot in a research report on Monday, July 22nd. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $10.75.

Green Dot Profile

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.