American Century Companies Inc. Has $153.87 Million Holdings in SouthState Co. (NASDAQ:SSB)

American Century Companies Inc. decreased its holdings in shares of SouthState Co. (NASDAQ:SSB - Free Report) by 9.1% in the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 1,546,719 shares of the bank's stock after selling 155,003 shares during the period. American Century Companies Inc. owned approximately 2.03% of SouthState worth $153,868,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in SSB. Stifel Financial Corp boosted its stake in SouthState by 10.5% during the 3rd quarter. Stifel Financial Corp now owns 63,573 shares of the bank's stock worth $6,178,000 after acquiring an additional 6,062 shares during the last quarter. JPMorgan Chase & Co. boosted its position in shares of SouthState by 2.5% during the third quarter. JPMorgan Chase & Co. now owns 408,894 shares of the bank's stock worth $39,736,000 after purchasing an additional 9,863 shares in the last quarter. Fisher Asset Management LLC grew its holdings in shares of SouthState by 3.7% in the 3rd quarter. Fisher Asset Management LLC now owns 711,853 shares of the bank's stock valued at $69,178,000 after buying an additional 25,495 shares during the period. FNY Investment Advisers LLC bought a new stake in shares of SouthState in the 4th quarter valued at $1,008,000. Finally, HighTower Advisors LLC raised its stake in SouthState by 7.6% during the 3rd quarter. HighTower Advisors LLC now owns 11,153 shares of the bank's stock worth $1,083,000 after buying an additional 787 shares during the period. Institutional investors and hedge funds own 89.76% of the company's stock.

Analyst Ratings Changes

SSB has been the topic of a number of research analyst reports. UBS Group initiated coverage on SouthState in a research report on Tuesday, December 17th. They set a "buy" rating and a $132.00 price target on the stock. Stephens reaffirmed an "overweight" rating and issued a $130.00 price target on shares of SouthState in a research note on Friday, March 7th. Finally, Citigroup raised shares of SouthState from a "neutral" rating to a "buy" rating and increased their price objective for the stock from $106.00 to $128.00 in a research report on Monday, January 27th. Two analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $115.44.

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SouthState Stock Down 0.1 %

Shares of SouthState stock traded down $0.06 during trading hours on Thursday, reaching $93.89. 571,843 shares of the company's stock were exchanged, compared to its average volume of 559,218. The stock has a market cap of $9.52 billion, a P/E ratio of 13.49 and a beta of 0.68. The company has a 50 day moving average of $99.20 and a two-hundred day moving average of $100.49. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 0.07. SouthState Co. has a fifty-two week low of $70.68 and a fifty-two week high of $114.27.

SouthState Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Friday, February 7th were paid a $0.54 dividend. This represents a $2.16 dividend on an annualized basis and a yield of 2.30%. The ex-dividend date was Friday, February 7th. SouthState's dividend payout ratio is currently 31.03%.

Insider Activity

In related news, Director Janet P. Froetscher acquired 2,717 shares of SouthState stock in a transaction on Monday, March 10th. The stock was purchased at an average cost of $92.02 per share, with a total value of $250,018.34. Following the completion of the transaction, the director now directly owns 4,689 shares in the company, valued at $431,481.78. This trade represents a 137.78 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Sara Arana sold 1,991 shares of the stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $100.78, for a total transaction of $200,652.98. Following the completion of the transaction, the chief accounting officer now directly owns 4,787 shares in the company, valued at $482,433.86. The trade was a 29.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 1.70% of the company's stock.

About SouthState

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.