Sei Investments Co. Decreases Stock Holdings in Amalgamated Financial Corp. (NASDAQ:AMAL)

Sei Investments Co. decreased its holdings in shares of Amalgamated Financial Corp. (NASDAQ:AMAL - Free Report) by 38.3% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 29,396 shares of the company's stock after selling 18,278 shares during the period. Sei Investments Co. owned 0.10% of Amalgamated Financial worth $984,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. USA Financial Formulas purchased a new position in shares of Amalgamated Financial during the fourth quarter valued at approximately $34,000. R Squared Ltd purchased a new position in Amalgamated Financial during the 4th quarter valued at $38,000. New York State Teachers Retirement System purchased a new position in Amalgamated Financial during the 4th quarter valued at $55,000. US Bancorp DE raised its holdings in Amalgamated Financial by 28.1% in the 4th quarter. US Bancorp DE now owns 2,962 shares of the company's stock worth $99,000 after purchasing an additional 650 shares in the last quarter. Finally, Midwest Professional Planners LTD. purchased a new stake in shares of Amalgamated Financial in the 4th quarter worth about $210,000. Institutional investors own 75.93% of the company's stock.

Amalgamated Financial Stock Down 1.0 %

Amalgamated Financial stock traded down $0.25 on Friday, hitting $25.99. 188,314 shares of the stock traded hands, compared to its average volume of 181,671. Amalgamated Financial Corp. has a 1 year low of $21.33 and a 1 year high of $38.19. The firm has a market cap of $797.56 million, a P/E ratio of 7.53 and a beta of 0.75. The company has a current ratio of 0.63, a quick ratio of 0.63 and a debt-to-equity ratio of 0.10. The business's fifty day simple moving average is $30.78 and its 200 day simple moving average is $33.06.

Amalgamated Financial (NASDAQ:AMAL - Get Free Report) last issued its quarterly earnings results on Thursday, January 23rd. The company reported $0.90 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.87 by $0.03. Amalgamated Financial had a net margin of 24.50% and a return on equity of 16.49%. As a group, sell-side analysts forecast that Amalgamated Financial Corp. will post 3.65 earnings per share for the current year.

Amalgamated Financial declared that its board has initiated a stock repurchase plan on Monday, March 10th that allows the company to repurchase $40.00 million in outstanding shares. This repurchase authorization allows the company to repurchase up to 4.6% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company's management believes its stock is undervalued.

Amalgamated Financial Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, February 27th. Stockholders of record on Tuesday, February 11th were issued a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a dividend yield of 2.15%. This is a positive change from Amalgamated Financial's previous quarterly dividend of $0.12. The ex-dividend date of this dividend was Tuesday, February 11th. Amalgamated Financial's dividend payout ratio (DPR) is presently 16.23%.

Insider Buying and Selling

In related news, EVP Tyrone Graham sold 3,317 shares of the company's stock in a transaction dated Wednesday, March 5th. The shares were sold at an average price of $30.50, for a total value of $101,168.50. Following the transaction, the executive vice president now owns 11,449 shares in the company, valued at $349,194.50. The trade was a 22.46 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, major shareholder States Regional Joint Western sold 1,327 shares of the firm's stock in a transaction dated Wednesday, February 5th. The shares were sold at an average price of $34.29, for a total transaction of $45,502.83. Following the sale, the insider now owns 7,121,506 shares of the company's stock, valued at approximately $244,196,440.74. This represents a 0.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 31,656 shares of company stock worth $1,054,122 in the last 90 days. Insiders own 0.90% of the company's stock.

Analyst Ratings Changes

Separately, Piper Sandler lowered shares of Amalgamated Financial from an "overweight" rating to a "neutral" rating and lowered their price objective for the stock from $42.00 to $38.00 in a report on Friday, February 21st.

About Amalgamated Financial

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.