Principal Financial Group Inc. cut its holdings in shares of Clover Health Investments, Corp. (NASDAQ:CLOV – Free Report) by 95.8% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 30,122 shares of the company’s stock after selling 679,360 shares during the period. Principal Financial Group Inc.’s holdings in Clover Health Investments were worth $53,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds also recently bought and sold shares of the business. AQR Capital Management LLC bought a new stake in shares of Clover Health Investments during the first quarter worth $49,000. Integrated Wealth Concepts LLC acquired a new stake in shares of Clover Health Investments in the 1st quarter valued at approximately $37,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in Clover Health Investments by 3.0% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 855,264 shares of the company’s stock worth $3,070,000 after acquiring an additional 24,807 shares during the last quarter. Envestnet Asset Management Inc. bought a new position in shares of Clover Health Investments during the second quarter worth $31,000. Finally, JPMorgan Chase & Co. grew its holdings in shares of Clover Health Investments by 41.6% in the 2nd quarter. JPMorgan Chase & Co. now owns 633,700 shares of the company’s stock valued at $1,768,000 after buying an additional 186,047 shares during the period. Institutional investors and hedge funds own 19.77% of the company’s stock.
Clover Health Investments Price Performance
Clover Health Investments stock opened at $4.17 on Monday. The firm has a market capitalization of $2.20 billion, a PE ratio of -34.75 and a beta of 2.41. The company’s 50-day moving average is $4.58 and its 200-day moving average is $3.11. Clover Health Investments, Corp. has a fifty-two week low of $1.58 and a fifty-two week high of $5.59.
Analysts Set New Price Targets
Several analysts have commented on the stock. Weiss Ratings restated a “sell (d-)” rating on shares of Clover Health Investments in a report on Wednesday, June 24th. Wall Street Zen upgraded Clover Health Investments from a “hold” rating to a “buy” rating in a report on Saturday, June 6th. UBS Group upped their target price on Clover Health Investments from $2.75 to $4.75 and gave the stock a “neutral” rating in a report on Thursday, June 11th. Finally, Canaccord Genuity Group increased their price target on Clover Health Investments from $4.20 to $5.50 and gave the company a “buy” rating in a research report on Tuesday, July 21st. One analyst has rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Clover Health Investments currently has a consensus rating of “Hold” and a consensus target price of $4.25.
Get Our Latest Stock Report on CLOV
Insider Activity
In other Clover Health Investments news, CEO Brady Patrick Priest sold 98,039 shares of the company’s stock in a transaction that occurred on Wednesday, May 13th. The stock was sold at an average price of $3.52, for a total value of $345,097.28. Following the sale, the chief executive officer owned 2,040,222 shares in the company, valued at $7,181,581.44. This represents a 4.58% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Carladenise Armbrister Edwards sold 67,160 shares of the firm’s stock in a transaction that occurred on Monday, May 18th. The shares were sold at an average price of $3.42, for a total value of $229,687.20. Following the completion of the sale, the director directly owned 285,432 shares of the company’s stock, valued at approximately $976,177.44. The trade was a 19.05% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 715,884 shares of company stock valued at $3,202,372. 23.51% of the stock is owned by insiders.
Clover Health Investments Company Profile
Clover Health Investments is a technology-driven healthcare company specializing in Medicare Advantage plans for senior populations. The company combines insurance coverage with a proprietary software platform to improve care coordination, outcomes tracking and cost management. By leveraging data analytics, Clover Health aims to deliver personalized care pathways and preventive interventions for its members.
At the core of Clover’s offering is its Clover Assistant platform, which aggregates clinical and claims data from multiple sources to create real-time insights for physicians and care teams.
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