Legal & General Group Plc Grows Holdings in Green Dot Corporation (GDOT)

Legal & General Group Plc boosted its holdings in shares of Green Dot Corporation (NYSE:GDOT) by 8.2% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 84,898 shares of the financial services provider’s stock after buying an additional 6,450 shares during the quarter. Legal & General Group Plc owned 0.17% of Green Dot Corporation worth $3,270,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the business. BlackRock Inc. lifted its holdings in Green Dot Corporation by 53,389.4% during the 1st quarter. BlackRock Inc. now owns 5,309,357 shares of the financial services provider’s stock worth $177,121,000 after buying an additional 5,299,431 shares in the last quarter. Vanguard Group Inc. lifted its holdings in Green Dot Corporation by 11.2% during the 1st quarter. Vanguard Group Inc. now owns 4,091,807 shares of the financial services provider’s stock worth $136,503,000 after buying an additional 412,984 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in Green Dot Corporation by 0.7% during the 1st quarter. Dimensional Fund Advisors LP now owns 2,753,768 shares of the financial services provider’s stock worth $91,865,000 after buying an additional 19,113 shares in the last quarter. State Street Corp lifted its holdings in Green Dot Corporation by 7.1% during the 1st quarter. State Street Corp now owns 999,048 shares of the financial services provider’s stock worth $33,324,000 after buying an additional 65,849 shares in the last quarter. Finally, Russell Investments Group Ltd. lifted its holdings in Green Dot Corporation by 91.0% during the 2nd quarter. Russell Investments Group Ltd. now owns 726,097 shares of the financial services provider’s stock worth $27,975,000 after buying an additional 346,014 shares in the last quarter. Institutional investors own 77.52% of the company’s stock.

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Shares of Green Dot Corporation (NYSE GDOT) opened at 46.92 on Friday. The firm has a 50 day moving average of $45.49 and a 200-day moving average of $38.15. The stock has a market capitalization of $2.37 billion, a P/E ratio of 39.90 and a beta of 1.01. Green Dot Corporation has a 12 month low of $21.45 and a 12 month high of $48.66.

Green Dot Corporation (NYSE:GDOT) last posted its earnings results on Tuesday, August 8th. The financial services provider reported $0.47 EPS for the quarter, topping analysts’ consensus estimates of $0.31 by $0.16. Green Dot Corporation had a net margin of 7.66% and a return on equity of 12.13%. The business had revenue of $222.50 million for the quarter, compared to analysts’ expectations of $208.59 million. During the same period in the previous year, the company posted $0.27 earnings per share. The business’s revenue for the quarter was up 28.2% compared to the same quarter last year. Analysts forecast that Green Dot Corporation will post $2.05 earnings per share for the current year.

In related news, insider Steven W. Streit sold 7,995 shares of the company’s stock in a transaction on Thursday, September 14th. The shares were sold at an average price of $47.58, for a total value of $380,402.10. Following the sale, the insider now directly owns 217,010 shares of the company’s stock, valued at $10,325,335.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Kenneth C. Aldrich sold 10,000 shares of the company’s stock in a transaction on Friday, September 1st. The shares were sold at an average price of $48.28, for a total transaction of $482,800.00. Following the completion of the sale, the director now directly owns 20,563 shares in the company, valued at $992,781.64. The disclosure for this sale can be found here. Over the last three months, insiders have sold 132,166 shares of company stock worth $5,918,805. Corporate insiders own 11.00% of the company’s stock.

GDOT has been the topic of a number of research reports. Jefferies Group LLC reiterated a “buy” rating and set a $42.00 target price on shares of Green Dot Corporation in a report on Monday, May 22nd. Lake Street Capital initiated coverage on shares of Green Dot Corporation in a report on Monday, June 26th. They set a “hold” rating and a $41.00 target price on the stock. Keefe, Bruyette & Woods set a $37.00 target price on shares of Green Dot Corporation and gave the stock a “hold” rating in a report on Thursday, July 6th. Zacks Investment Research upgraded shares of Green Dot Corporation from a “hold” rating to a “buy” rating and set a $44.00 target price on the stock in a report on Wednesday, July 12th. Finally, Citigroup Inc. reiterated a “buy” rating and set a $46.00 target price (up from $40.00) on shares of Green Dot Corporation in a report on Monday, July 24th. Four research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $41.33.

Green Dot Corporation Profile

Green Dot Corporation (Green Dot) is a pro-consumer financial technology innovator. The Company is a provider of reloadable prepaid debit cards and cash reload processing services in the United States. The Company operates through two segments: Account Services, and Processing and Settlement Services.

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Institutional Ownership by Quarter for Green Dot Corporation (NYSE:GDOT)

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