Northwestern Mutual Wealth Management Co. Acquires 691,644 Shares of Alignment Healthcare, Inc. $ALHC

Northwestern Mutual Wealth Management Co. grew its holdings in shares of Alignment Healthcare, Inc. (NASDAQ:ALHCFree Report) by 7,684,933.3% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 691,653 shares of the company’s stock after buying an additional 691,644 shares during the period. Northwestern Mutual Wealth Management Co.’s holdings in Alignment Healthcare were worth $13,660,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Larson Financial Group LLC bought a new position in shares of Alignment Healthcare during the 3rd quarter worth approximately $33,000. First Horizon Corp acquired a new stake in Alignment Healthcare in the fourth quarter valued at approximately $39,000. GAMMA Investing LLC grew its stake in Alignment Healthcare by 83.8% in the fourth quarter. GAMMA Investing LLC now owns 2,165 shares of the company’s stock valued at $43,000 after acquiring an additional 987 shares during the period. Wilmington Savings Fund Society FSB acquired a new stake in Alignment Healthcare in the third quarter valued at approximately $53,000. Finally, PNC Financial Services Group Inc. grew its stake in Alignment Healthcare by 205.6% in the third quarter. PNC Financial Services Group Inc. now owns 3,459 shares of the company’s stock valued at $60,000 after acquiring an additional 2,327 shares during the period. 86.19% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

ALHC has been the subject of a number of research reports. Wall Street Zen raised Alignment Healthcare from a “hold” rating to a “buy” rating in a research note on Saturday, May 9th. Zacks Research raised Alignment Healthcare from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, April 28th. Barclays raised their price objective on Alignment Healthcare from $18.00 to $19.00 and gave the company an “equal weight” rating in a research note on Friday, May 1st. KeyCorp reissued an “overweight” rating and issued a $28.00 price objective on shares of Alignment Healthcare in a research note on Thursday, January 22nd. Finally, JPMorgan Chase & Co. raised their price objective on Alignment Healthcare from $23.00 to $26.00 and gave the company an “overweight” rating in a research note on Thursday, February 5th. Two equities research analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, Alignment Healthcare has a consensus rating of “Moderate Buy” and a consensus target price of $24.60.

Get Our Latest Stock Analysis on ALHC

Alignment Healthcare Stock Up 1.8%

Shares of NASDAQ:ALHC opened at $16.66 on Thursday. The stock has a market cap of $3.44 billion, a price-to-earnings ratio of 185.11, a PEG ratio of 2.29 and a beta of 1.26. The company has a quick ratio of 1.58, a current ratio of 1.58 and a debt-to-equity ratio of 1.56. Alignment Healthcare, Inc. has a 12-month low of $11.63 and a 12-month high of $23.87. The business’s 50 day moving average is $18.90 and its 200 day moving average is $19.44.

Alignment Healthcare (NASDAQ:ALHCGet Free Report) last announced its earnings results on Thursday, April 30th. The company reported $0.05 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.01 by $0.04. The company had revenue of $1.24 billion for the quarter, compared to analysts’ expectations of $1.22 billion. Alignment Healthcare had a return on equity of 11.50% and a net margin of 0.47%.Alignment Healthcare’s quarterly revenue was up 33.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($0.05) earnings per share. On average, sell-side analysts forecast that Alignment Healthcare, Inc. will post 0.19 earnings per share for the current fiscal year.

Insider Activity at Alignment Healthcare

In related news, President Dawn Christine Maroney sold 36,749 shares of Alignment Healthcare stock in a transaction that occurred on Wednesday, March 18th. The stock was sold at an average price of $17.84, for a total transaction of $655,602.16. Following the transaction, the president owned 1,058,813 shares of the company’s stock, valued at $18,889,223.92. The trade was a 3.35% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO John E. Kao sold 298,000 shares of Alignment Healthcare stock in a transaction that occurred on Monday, May 11th. The shares were sold at an average price of $16.89, for a total value of $5,033,220.00. Following the transaction, the chief executive officer directly owned 1,508,641 shares in the company, valued at approximately $25,480,946.49. The trade was a 16.49% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders have sold 1,569,859 shares of company stock worth $29,433,158. 5.20% of the stock is owned by insiders.

Alignment Healthcare Company Profile

(Free Report)

Alignment Healthcare, Inc (NASDAQ: ALHC) is a health care company specializing in value-based care for Medicare Advantage beneficiaries. The company leverages an integrated care model that combines in-home clinical services, telehealth capabilities and digital health tools to manage chronic conditions, improve outcomes and enhance patient experience.

At the core of Alignment Healthcare’s approach is a proprietary technology platform that aggregates real-time clinical and claims data to support preventive care, risk stratification and personalized care plans.

See Also

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Institutional Ownership by Quarter for Alignment Healthcare (NASDAQ:ALHC)

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