South State Corporation (SSB) Shares Bought by American International Group Inc.

American International Group Inc. lifted its holdings in shares of South State Corporation (NASDAQ:SSB) by 8.1% in the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 19,374 shares of the bank’s stock after buying an additional 1,448 shares during the period. American International Group Inc. owned about 0.07% of South State worth $1,745,000 as of its most recent filing with the SEC.

Other institutional investors have also bought and sold shares of the company. Oppenheimer Asset Management Inc. raised its holdings in shares of South State by 47.7% during the 2nd quarter. Oppenheimer Asset Management Inc. now owns 1,540 shares of the bank’s stock worth $132,000 after buying an additional 497 shares in the last quarter. Bank of Montreal Can raised its holdings in shares of South State by 2.2% during the 2nd quarter. Bank of Montreal Can now owns 1,550 shares of the bank’s stock worth $133,000 after buying an additional 34 shares in the last quarter. SG Americas Securities LLC raised its holdings in shares of South State by 1.3% during the 2nd quarter. SG Americas Securities LLC now owns 1,570 shares of the bank’s stock worth $135,000 after buying an additional 20 shares in the last quarter. Strs Ohio raised its holdings in shares of South State by 38.5% during the 2nd quarter. Strs Ohio now owns 1,800 shares of the bank’s stock worth $154,000 after buying an additional 500 shares in the last quarter. Finally, D.A. Davidson & CO. raised its holdings in shares of South State by 48.5% during the 2nd quarter. D.A. Davidson & CO. now owns 1,879 shares of the bank’s stock worth $161,000 after buying an additional 614 shares in the last quarter. 55.76% of the stock is owned by institutional investors.

In other South State news, President John F. Windley sold 7,258 shares of the company’s stock in a transaction dated Friday, December 1st. The stock was sold at an average price of $90.93, for a total value of $659,969.94. Following the sale, the president now owns 37,764 shares in the company, valued at approximately $3,433,880.52. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Joe E. Burns sold 6,548 shares of the company’s stock in a transaction dated Friday, October 27th. The shares were sold at an average price of $92.39, for a total value of $604,969.72. Following the completion of the sale, the insider now owns 37,595 shares in the company, valued at approximately $3,473,402.05. The disclosure for this sale can be found here. Insiders have sold a total of 72,620 shares of company stock worth $6,611,006 in the last 90 days. 2.78% of the stock is currently owned by corporate insiders.

SSB has been the topic of a number of research reports. BidaskClub lowered South State from a “hold” rating to a “sell” rating in a research report on Saturday. Brean Capital restated a “hold” rating on shares of South State in a research report on Wednesday, December 6th. SunTrust Banks restated a “buy” rating and set a $107.00 price objective on shares of South State in a research report on Wednesday, November 29th. Finally, Zacks Investment Research lowered South State from a “hold” rating to a “sell” rating in a research report on Friday, October 27th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the company’s stock. South State has an average rating of “Hold” and a consensus price target of $97.33.

Shares of South State Corporation (SSB) opened at $87.25 on Wednesday. The firm has a market capitalization of $3,233.09, a price-to-earnings ratio of 18.72, a P/E/G ratio of 2.33 and a beta of 1.09. South State Corporation has a 52-week low of $78.60 and a 52-week high of $94.50. The company has a current ratio of 0.93, a quick ratio of 0.92 and a debt-to-equity ratio of 0.05.

South State (NASDAQ:SSB) last issued its quarterly earnings data on Tuesday, October 24th. The bank reported $1.22 earnings per share for the quarter, topping analysts’ consensus estimates of $1.20 by $0.02. The business had revenue of $136.36 million for the quarter, compared to analyst estimates of $139.85 million. South State had a return on equity of 8.85% and a net margin of 20.48%. South State’s quarterly revenue was up 17.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.18 EPS. analysts forecast that South State Corporation will post 4.72 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 17th. Investors of record on Friday, November 10th were given a dividend of $0.33 per share. The ex-dividend date was Thursday, November 9th. This represents a $1.32 dividend on an annualized basis and a yield of 1.51%. South State’s dividend payout ratio is currently 33.85%.

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South State Company Profile

South State Corporation (NASDAQ: SSB) is the largest bank holding company headquartered in South Carolina. Founded in 1933, the company’s primary subsidiary, South State Bank, has been serving the financial needs of its local communities in 19 South Carolina counties, 12 Georgia counties and 4 North Carolina counties for over 80 years.

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Institutional Ownership by Quarter for South State (NASDAQ:SSB)

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