Ameriprise Financial Inc. Decreases Holdings in Green Dot Corporation (GDOT)

Ameriprise Financial Inc. lowered its stake in shares of Green Dot Corporation (NYSE:GDOT) by 42.2% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 240,139 shares of the financial services provider’s stock after selling 174,989 shares during the period. Ameriprise Financial Inc. owned about 0.48% of Green Dot Corporation worth $9,253,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the business. Teachers Advisors LLC lifted its stake in shares of Green Dot Corporation by 4.6% in the 2nd quarter. Teachers Advisors LLC now owns 226,839 shares of the financial services provider’s stock valued at $8,740,000 after purchasing an additional 9,915 shares during the last quarter. Riverhead Capital Management LLC lifted its stake in shares of Green Dot Corporation by 55.0% in the 2nd quarter. Riverhead Capital Management LLC now owns 4,029 shares of the financial services provider’s stock valued at $155,000 after purchasing an additional 1,429 shares during the last quarter. Timpani Capital Management LLC lifted its stake in shares of Green Dot Corporation by 55.4% in the 2nd quarter. Timpani Capital Management LLC now owns 136,557 shares of the financial services provider’s stock valued at $5,262,000 after purchasing an additional 48,687 shares during the last quarter. Alliancebernstein L.P. lifted its stake in shares of Green Dot Corporation by 9.4% in the 2nd quarter. Alliancebernstein L.P. now owns 61,900 shares of the financial services provider’s stock valued at $2,385,000 after purchasing an additional 5,300 shares during the last quarter. Finally, JPMorgan Chase & Co. lifted its stake in shares of Green Dot Corporation by 202.2% in the 2nd quarter. JPMorgan Chase & Co. now owns 439,593 shares of the financial services provider’s stock valued at $16,937,000 after purchasing an additional 294,121 shares during the last quarter. 77.43% of the stock is owned by institutional investors.

Green Dot Corporation (NYSE GDOT) opened at 53.44 on Friday. The company has a market cap of $2.70 billion, a P/E ratio of 45.44 and a beta of 1.00. The company has a 50-day moving average of $49.48 and a 200 day moving average of $40.94. Green Dot Corporation has a one year low of $21.45 and a one year high of $55.57.

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

In other news, insider Steven W. Streit sold 7,995 shares of the firm’s stock in a transaction dated Thursday, October 12th. The shares were sold at an average price of $54.21, for a total transaction of $433,408.95. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Glinda Bridgforth-Hodges sold 7,500 shares of the firm’s stock in a transaction dated Wednesday, August 16th. The stock was sold at an average price of $46.92, for a total transaction of $351,900.00. Following the sale, the director now owns 5,003 shares of the company’s stock, valued at approximately $234,740.76. The disclosure for this sale can be found here. In the last quarter, insiders sold 152,192 shares of company stock valued at $7,157,243. Corporate insiders own 11.00% of the company’s stock.

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GDOT has been the subject of several analyst reports. Lake Street Capital raised shares of Green Dot Corporation from a “hold” rating to a “buy” rating and lifted their price objective for the company from $41.00 to $44.00 in a research note on Wednesday, August 9th. BidaskClub raised shares of Green Dot Corporation from a “hold” rating to a “buy” rating in a research note on Friday, August 11th. Zacks Investment Research raised shares of Green Dot Corporation from a “hold” rating to a “buy” rating and set a $44.00 price objective for the company in a research note on Wednesday, July 12th. Citigroup Inc. reaffirmed a “buy” rating and issued a $46.00 price objective (up previously from $40.00) on shares of Green Dot Corporation in a research note on Monday, July 24th. Finally, ValuEngine raised shares of Green Dot Corporation from a “hold” rating to a “buy” rating in a research note on Friday, September 1st. Seven analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus target price of $47.91.

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.

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

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