Sei Investments Co. Has $29.34 Million Stock Position in SouthState Co. (NASDAQ:SSB)

Sei Investments Co. grew its holdings in SouthState Co. (NASDAQ:SSB) by 0.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 294,950 shares of the bank’s stock after acquiring an additional 1,554 shares during the quarter. Sei Investments Co. owned 0.39% of SouthState worth $29,342,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the business. Natixis Advisors LLC increased its stake in SouthState by 11.9% during the 3rd quarter. Natixis Advisors LLC now owns 20,928 shares of the bank’s stock worth $2,034,000 after acquiring an additional 2,226 shares during the period. Intech Investment Management LLC bought a new position in shares of SouthState in the third quarter worth $1,605,000. Charles Schwab Investment Management Inc. raised its stake in SouthState by 7.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 987,849 shares of the bank’s stock valued at $95,999,000 after purchasing an additional 72,181 shares in the last quarter. Citigroup Inc. lifted its position in SouthState by 4.8% during the third quarter. Citigroup Inc. now owns 213,175 shares of the bank’s stock worth $20,716,000 after purchasing an additional 9,693 shares during the period. Finally, Cerity Partners LLC grew its stake in SouthState by 22.0% during the third quarter. Cerity Partners LLC now owns 13,113 shares of the bank’s stock worth $1,274,000 after buying an additional 2,365 shares in the last quarter. 89.76% of the stock is currently owned by institutional investors and hedge funds.

SouthState Price Performance

SSB stock opened at $94.65 on Wednesday. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 0.07. The company’s fifty day simple moving average is $99.41 and its 200 day simple moving average is $100.58. SouthState Co. has a 12-month low of $70.68 and a 12-month high of $114.27. The firm has a market cap of $9.59 billion, a price-to-earnings ratio of 13.60 and a beta of 0.68.

SouthState Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Friday, February 7th were given a dividend of $0.54 per share. The ex-dividend date was Friday, February 7th. This represents a $2.16 annualized dividend and a dividend yield of 2.28%. SouthState’s payout ratio is 31.03%.

Insider Buying and Selling

In related news, Director G Stacy Smith acquired 3,100 shares of the business’s stock in a transaction dated Thursday, March 6th. The shares were bought at an average price of $93.60 per share, with a total value of $290,160.00. Following the transaction, the director now directly owns 36,779 shares of the company’s stock, valued at $3,442,514.40. This trade represents a 9.20 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Janet P. Froetscher bought 2,717 shares of the firm’s stock in a transaction that occurred on Monday, March 10th. The stock was purchased at an average cost of $92.02 per share, with a total value of $250,018.34. Following the completion of the transaction, the director now directly owns 4,689 shares in the company, valued at $431,481.78. This represents a 137.78 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 1.70% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several research analysts have commented on the stock. UBS Group assumed coverage on shares of SouthState in a research report on Tuesday, December 17th. They set a “buy” rating and a $132.00 price objective for the company. Stephens restated an “overweight” rating and issued a $130.00 price target on shares of SouthState in a research note on Friday, March 7th. Finally, Citigroup raised shares of SouthState from a “neutral” rating to a “buy” rating and increased their price objective for the company from $106.00 to $128.00 in a research note on Monday, January 27th. Two research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $115.44.

SouthState Company Profile

SouthState Corporation operates as the bank holding company for SouthState Bank, National Association that provides a range of banking services and products to individuals and companies. It offers checking accounts, savings deposits, interest-bearing transaction accounts, certificates of deposits, money market accounts, and other time deposits, as well as bond accounting, asset/liability consulting related activities, and other clearing and corporate checking account services.