SouthState Co. (NASDAQ:SSB) Shares Purchased by Janus Henderson Group PLC

Janus Henderson Group PLC increased its position in SouthState Co. (NASDAQ:SSB) by 53.2% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 51,805 shares of the bank’s stock after acquiring an additional 17,981 shares during the period. Janus Henderson Group PLC’s holdings in SouthState were worth $5,154,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Summit Securities Group LLC acquired a new stake in shares of SouthState in the fourth quarter worth $38,000. Aquatic Capital Management LLC purchased a new stake in SouthState in the fourth quarter valued at $45,000. Quadrant Capital Group LLC grew its position in SouthState by 24.2% during the 4th quarter. Quadrant Capital Group LLC now owns 508 shares of the bank’s stock worth $51,000 after purchasing an additional 99 shares during the period. Headlands Technologies LLC purchased a new position in shares of SouthState during the 4th quarter valued at about $102,000. Finally, Blue Trust Inc. lifted its holdings in shares of SouthState by 16.8% in the 4th quarter. Blue Trust Inc. now owns 1,161 shares of the bank’s stock valued at $113,000 after buying an additional 167 shares during the period. Institutional investors and hedge funds own 89.76% of the company’s stock.

Analyst Ratings Changes

Several research firms recently commented on SSB. Truist Financial initiated coverage on SouthState in a report on Tuesday, May 13th. They set a “buy” rating and a $106.00 target price on the stock. Stephens reaffirmed an “overweight” rating and set a $119.00 price objective on shares of SouthState in a research note on Monday, April 28th. Barclays decreased their target price on shares of SouthState from $120.00 to $115.00 and set an “overweight” rating for the company in a research note on Tuesday, April 8th. Raymond James set a $110.00 price target on shares of SouthState in a research report on Monday, April 28th. Finally, DA Davidson decreased their price objective on shares of SouthState from $125.00 to $115.00 and set a “buy” rating for the company in a research report on Monday, April 28th. One research analyst has rated the stock with a hold rating, seven have issued a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, SouthState has a consensus rating of “Buy” and a consensus price target of $116.90.

SouthState Price Performance

Shares of NASDAQ SSB opened at $91.30 on Monday. The company has a debt-to-equity ratio of 0.07, a quick ratio of 0.91 and a current ratio of 0.91. The firm has a fifty day moving average of $88.58 and a 200 day moving average of $97.87. The firm has a market cap of $9.27 billion, a PE ratio of 13.12 and a beta of 0.75. SouthState Co. has a one year low of $70.68 and a one year high of $114.27.

SouthState Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, May 16th. Stockholders of record on Friday, May 9th were paid a dividend of $0.54 per share. The ex-dividend date of this dividend was Friday, May 9th. This represents a $2.16 dividend on an annualized basis and a dividend yield of 2.37%. SouthState’s dividend payout ratio is currently 34.12%.

Insider Transactions at SouthState

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

About SouthState

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.