Pacer Advisors Inc. Has $1.13 Million Stock Holdings in SouthState Co. (NASDAQ:SSB)

Pacer Advisors Inc. boosted its position in shares of SouthState Co. (NASDAQ:SSB) by 1.9% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 11,371 shares of the bank’s stock after acquiring an additional 207 shares during the period. Pacer Advisors Inc.’s holdings in SouthState were worth $1,131,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. Geode Capital Management LLC increased its stake in shares of SouthState by 1.8% in the third quarter. Geode Capital Management LLC now owns 1,820,303 shares of the bank’s stock valued at $176,931,000 after buying an additional 31,340 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of SouthState by 7.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 987,849 shares of the bank’s stock valued at $95,999,000 after purchasing an additional 72,181 shares in the last quarter. The Manufacturers Life Insurance Company boosted its holdings in SouthState by 4.9% during the third quarter. The Manufacturers Life Insurance Company now owns 731,802 shares of the bank’s stock worth $71,117,000 after purchasing an additional 34,194 shares during the last quarter. Fisher Asset Management LLC increased its position in shares of SouthState by 3.7% during the 3rd quarter. Fisher Asset Management LLC now owns 711,853 shares of the bank’s stock worth $69,178,000 after purchasing an additional 25,495 shares during the last quarter. Finally, Segall Bryant & Hamill LLC increased its stake in shares of SouthState by 3.8% during the 3rd quarter. Segall Bryant & Hamill LLC now owns 622,084 shares of the bank’s stock worth $60,454,000 after purchasing an additional 22,855 shares during the last quarter. 89.76% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, CFO William E. V. Matthews sold 6,531 shares of the company’s stock in a transaction on Wednesday, January 29th. The shares were sold at an average price of $108.29, for a total transaction of $707,241.99. Following the completion of the sale, the chief financial officer now directly owns 34,107 shares in the company, valued at $3,693,447.03. This represents a 16.07 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Corporate insiders own 1.26% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on SSB shares. Truist Financial dropped their price target on SouthState from $111.00 to $103.00 and set a “hold” rating for the company in a research note on Monday, October 28th. Piper Sandler boosted their target price on shares of SouthState from $110.00 to $112.00 and gave the company an “overweight” rating in a report on Friday, October 25th. Citigroup upgraded shares of SouthState from a “neutral” rating to a “buy” rating and raised their price target for the stock from $106.00 to $128.00 in a report on Monday, January 27th. Stephens restated an “overweight” rating and set a $130.00 price objective on shares of SouthState in a report on Friday, January 24th. Finally, Keefe, Bruyette & Woods restated an “outperform” rating and set a $120.00 price objective (up from $115.00) on shares of SouthState in a research note on Thursday, November 7th. Two investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $115.44.

SouthState Stock Down 0.5 %

SouthState stock opened at $105.45 on Monday. SouthState Co. has a 1-year low of $70.68 and a 1-year high of $114.26. The firm has a market capitalization of $8.05 billion, a price-to-earnings ratio of 15.15 and a beta of 0.70. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 0.07. The firm has a 50 day simple moving average of $103.34 and a 200 day simple moving average of $99.21.

SouthState Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 14th. Investors of record on Friday, February 7th will be given a dividend of $0.54 per share. This represents a $2.16 annualized dividend and a yield of 2.05%. The ex-dividend date is Friday, February 7th. SouthState’s payout ratio is 31.03%.

SouthState 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.