Man Group plc Invests $721,000 in Amalgamated Financial Corp. (NASDAQ:AMAL)

Man Group plc purchased a new stake in shares of Amalgamated Financial Corp. (NASDAQ:AMAL - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 21,528 shares of the company's stock, valued at approximately $721,000. Man Group plc owned 0.07% of Amalgamated Financial as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently bought and sold shares of AMAL. Neumeier Poma Investment Counsel LLC bought a new stake in shares of Amalgamated Financial in the 4th quarter worth about $13,093,000. Congress Asset Management Co. purchased a new stake in Amalgamated Financial in the 4th quarter worth about $5,339,000. Figure 8 Investment Strategies LLC bought a new stake in Amalgamated Financial in the fourth quarter worth about $2,778,000. Charles Schwab Investment Management Inc. boosted its position in shares of Amalgamated Financial by 49.7% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 242,531 shares of the company's stock valued at $8,118,000 after buying an additional 80,484 shares during the period. Finally, Barclays PLC boosted its position in shares of Amalgamated Financial by 60.2% during the fourth quarter. Barclays PLC now owns 190,861 shares of the company's stock valued at $6,388,000 after buying an additional 71,696 shares during the period. Hedge funds and other institutional investors own 75.93% of the company's stock.

Insider Buying and Selling

In other news, EVP Sean Searby sold 3,000 shares of the stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $32.49, for a total value of $97,470.00. Following the completion of the sale, the executive vice president now directly owns 17,639 shares of the company's stock, valued at approximately $573,091.11. This represents a 14.54% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Tyrone Graham sold 3,317 shares of the company's stock in a transaction that occurred on Wednesday, March 5th. The shares were sold at an average price of $30.50, for a total value of $101,168.50. Following the sale, the executive vice president now directly owns 11,449 shares of the company's stock, valued at approximately $349,194.50. This represents a 22.46% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 7,926 shares of company stock worth $243,070. 1.29% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on AMAL shares. Keefe, Bruyette & Woods decreased their price objective on shares of Amalgamated Financial from $41.00 to $39.00 and set an "outperform" rating for the company in a report on Friday, April 25th. Piper Sandler lowered shares of Amalgamated Financial from an "overweight" rating to a "neutral" rating and reduced their target price for the stock from $42.00 to $38.00 in a research report on Friday, February 21st.

Amalgamated Financial Stock Down 0.6%

Shares of AMAL stock traded down $0.18 during trading hours on Friday, reaching $30.12. 28,498 shares of the company's stock were exchanged, compared to its average volume of 190,053. The company has a current ratio of 0.63, a quick ratio of 0.63 and a debt-to-equity ratio of 0.10. Amalgamated Financial Corp. has a 1 year low of $24.02 and a 1 year high of $38.19. The stock has a market cap of $921.37 million, a PE ratio of 8.73 and a beta of 0.86. The stock's fifty day moving average price is $28.62 and its two-hundred day moving average price is $32.10.

Amalgamated Financial (NASDAQ:AMAL - Get Free Report) last announced its quarterly earnings results on Thursday, April 24th. The company reported $0.88 earnings per share for the quarter, meeting the consensus estimate of $0.88. Amalgamated Financial had a return on equity of 16.49% and a net margin of 24.50%. The company had revenue of $79.69 million during the quarter, compared to analysts' expectations of $74.78 million. During the same period last year, the business earned $0.89 earnings per share. Research analysts predict that Amalgamated Financial Corp. will post 3.65 EPS for the current year.

Amalgamated Financial declared that its Board of Directors has authorized a share repurchase plan on Monday, March 10th that permits the company to repurchase $40.00 million in shares. This repurchase authorization permits the company to reacquire up to 4.6% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company's leadership believes its stock is undervalued.

Amalgamated Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, May 22nd. Investors of record on Tuesday, May 6th were paid a dividend of $0.14 per share. The ex-dividend date of this dividend was Tuesday, May 6th. This represents a $0.56 annualized dividend and a yield of 1.86%. Amalgamated Financial's dividend payout ratio is presently 16.62%.

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.