Louisiana State Employees Retirement System Sells 5,013 Shares of Green Dot Co. (GDOT)

Louisiana State Employees Retirement System lowered its stake in shares of Green Dot Co. (NYSE:GDOT) by 28.1% during the first quarter, Holdings Channel reports. The institutional investor owned 12,800 shares of the financial services provider’s stock after selling 5,013 shares during the quarter. Louisiana State Employees Retirement System’s holdings in Green Dot were worth $776,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in GDOT. Vanguard Group Inc. raised its position in Green Dot by 1.3% in the third quarter. Vanguard Group Inc. now owns 5,670,625 shares of the financial services provider’s stock valued at $503,665,000 after purchasing an additional 71,806 shares during the period. Vanguard Group Inc raised its position in Green Dot by 1.3% in the third quarter. Vanguard Group Inc now owns 5,670,625 shares of the financial services provider’s stock valued at $503,665,000 after purchasing an additional 71,806 shares during the period. Eagle Asset Management Inc. raised its position in Green Dot by 1.6% in the fourth quarter. Eagle Asset Management Inc. now owns 1,312,523 shares of the financial services provider’s stock valued at $104,371,000 after purchasing an additional 20,758 shares during the period. Bank of New York Mellon Corp raised its position in Green Dot by 33.4% in the fourth quarter. Bank of New York Mellon Corp now owns 1,186,853 shares of the financial services provider’s stock valued at $94,379,000 after purchasing an additional 297,348 shares during the period. Finally, KAMES CAPITAL plc raised its position in Green Dot by 8.8% in the first quarter. KAMES CAPITAL plc now owns 959,849 shares of the financial services provider’s stock valued at $58,224,000 after purchasing an additional 77,642 shares during the period. 88.69% of the stock is currently owned by institutional investors.

A number of research firms have commented on GDOT. Zacks Investment Research downgraded Green Dot from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, January 8th. Northland Securities restated a “buy” rating and issued a $100.00 target price on shares of Green Dot in a research report on Wednesday, April 17th. Finally, Needham & Company LLC initiated coverage on Green Dot in a research report on Friday, April 12th. They issued a “buy” rating and a $75.00 target price on the stock. One research analyst has rated the stock with a sell rating, two have issued a hold rating and eleven have assigned a buy rating to the stock. The stock has an average rating of “Buy” and a consensus price target of $91.57.

GDOT stock opened at $60.74 on Monday. The firm has a market capitalization of $3.22 billion, a P/E ratio of 24.01 and a beta of 0.75. Green Dot Co. has a 12-month low of $56.23 and a 12-month high of $93.00.

Green Dot (NYSE:GDOT) last issued its quarterly earnings results on Wednesday, February 20th. The financial services provider reported $0.56 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.31 by $0.25. Green Dot had a return on equity of 15.88% and a net margin of 11.39%. The company had revenue of $237.83 million for the quarter, compared to the consensus estimate of $235.80 million. During the same quarter in the prior year, the business earned $0.29 EPS. Green Dot’s revenue was up 11.7% on a year-over-year basis. As a group, research analysts forecast that Green Dot Co. will post 2.81 earnings per share for the current fiscal year.

In other Green Dot news, CEO Steven W. Streit sold 7,701 shares of the company’s stock in a transaction dated Wednesday, March 13th. The stock was sold at an average price of $57.89, for a total transaction of $445,810.89. Following the sale, the chief executive officer now owns 69,313 shares in the company, valued at approximately $4,012,529.57. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CRO Brett Narlinger sold 5,000 shares of the company’s stock in a transaction dated Monday, February 25th. The stock was sold at an average price of $67.63, for a total value of $338,150.00. Following the sale, the executive now owns 84,282 shares in the company, valued at approximately $5,699,991.66. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 101,155 shares of company stock worth $6,227,112. 7.80% of the stock is owned by company insiders.

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Green Dot Company Profile

Green Dot Corporation operates as a financial technology and bank holding company in the United States. It operates in two segments, Account Services, and Processing and Settlement Services. The company offers deposit account programs, such network-branded reloadable prepaid debit cards under the consumer brand names of GPR cards, consumer and small business checking accounts, network-branded gift cards, secured credit cards, and other financial services.

Further Reading: Asset Allocation, Balancing Your Investments

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

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