Russell Investments Group Ltd. Has $523,000 Position in Amalgamated Financial Corp. $AMAL

Key Points

• Russell Investments Group Ltd. reduced its stake in Amalgamated Financial Corp. by 33.6%, selling 9,187 shares, leaving them with 18,177 shares valued at approximately $523,000.
• Amalgamated Financial reported lower-than-expected earnings with an EPS of $0.88, missing the consensus estimate of $0.90.
• The company also announced a quarterly dividend of $0.14, which translates to an annualized dividend of $0.56 and a dividend yield of 1.9%.

Russell Investments Group Ltd. lessened its position in shares of Amalgamated Financial Corp. (NASDAQ:AMAL - Free Report) by 33.6% in the first quarter, according to its most recent filing with the SEC. The firm owned 18,177 shares of the company's stock after selling 9,187 shares during the quarter. Russell Investments Group Ltd. owned approximately 0.06% of Amalgamated Financial worth $523,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in Amalgamated Financial by 3.8% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 10,186 shares of the company's stock valued at $341,000 after purchasing an additional 372 shares during the period. US Bancorp DE increased its position in Amalgamated Financial by 12.9% during the 1st quarter. US Bancorp DE now owns 3,343 shares of the company's stock valued at $96,000 after purchasing an additional 381 shares during the period. SummerHaven Investment Management LLC increased its position in Amalgamated Financial by 1.5% during the 1st quarter. SummerHaven Investment Management LLC now owns 28,696 shares of the company's stock valued at $825,000 after purchasing an additional 411 shares during the period. New York State Common Retirement Fund increased its position in Amalgamated Financial by 7.9% during the 1st quarter. New York State Common Retirement Fund now owns 6,811 shares of the company's stock valued at $196,000 after purchasing an additional 500 shares during the period. Finally, Principal Financial Group Inc. increased its position in Amalgamated Financial by 2.8% during the 1st quarter. Principal Financial Group Inc. now owns 19,529 shares of the company's stock valued at $561,000 after purchasing an additional 537 shares during the period. Institutional investors and hedge funds own 75.93% of the company's stock.

Insider Transactions at Amalgamated Financial

In related news, EVP Sean Searby sold 3,512 shares of Amalgamated Financial stock in a transaction on Wednesday, August 27th. The shares were sold at an average price of $29.68, for a total value of $104,236.16. Following the completion of the sale, the executive vice president owned 8,791 shares of the company's stock, valued at approximately $260,916.88. This trade represents a 28.55% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 1.29% of the company's stock.

Amalgamated Financial Trading Up 0.2%

Shares of AMAL stock traded up $0.06 during trading hours on Thursday, hitting $28.72. 64,095 shares of the company were exchanged, compared to its average volume of 211,387. The firm has a market cap of $864.58 million, a P/E ratio of 8.60 and a beta of 0.92. Amalgamated Financial Corp. has a fifty-two week low of $25.03 and a fifty-two week high of $38.19. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.64 and a current ratio of 0.64. The company has a 50 day simple moving average of $30.47 and a two-hundred day simple moving average of $29.95.

Amalgamated Financial (NASDAQ:AMAL - Get Free Report) last announced its quarterly earnings data on Thursday, July 24th. The company reported $0.88 EPS for the quarter, missing the consensus estimate of $0.90 by ($0.02). Amalgamated Financial had a return on equity of 15.21% and a net margin of 23.60%.The company had revenue of $82.18 million for the quarter, compared to analyst estimates of $82.52 million. Equities analysts anticipate that Amalgamated Financial Corp. will post 3.65 EPS for the current year.

Amalgamated Financial Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 21st. Investors of record on Tuesday, August 5th were given a $0.14 dividend. The ex-dividend date of this dividend was Tuesday, August 5th. This represents a $0.56 annualized dividend and a yield of 2.0%. Amalgamated Financial's dividend payout ratio (DPR) is presently 16.77%.

Analysts Set New Price Targets

Separately, Piper Sandler downgraded shares of Amalgamated Financial from a "neutral" rating to an "underweight" rating and decreased their target price for the company from $34.00 to $27.00 in a research report on Tuesday, August 5th. One investment analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $33.00.

Amalgamated Financial Company Profile

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.