Principal Financial Group Inc. boosted its holdings in Alignment Healthcare, Inc. (NASDAQ:ALHC – Free Report) by 36.5% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 544,274 shares of the company’s stock after buying an additional 145,491 shares during the quarter. Principal Financial Group Inc. owned approximately 0.26% of Alignment Healthcare worth $9,590,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Fifth Third Bancorp acquired a new position in Alignment Healthcare during the first quarter worth about $122,000. Resona Asset Management Co. Ltd. acquired a new stake in shares of Alignment Healthcare in the 1st quarter valued at approximately $345,000. New York State Teachers Retirement System bought a new stake in shares of Alignment Healthcare during the 1st quarter valued at approximately $259,000. Strs Ohio grew its holdings in shares of Alignment Healthcare by 10.2% during the 1st quarter. Strs Ohio now owns 24,900 shares of the company’s stock valued at $439,000 after purchasing an additional 2,300 shares during the last quarter. Finally, Pictet Asset Management Holding SA increased its position in Alignment Healthcare by 9.6% during the 1st quarter. Pictet Asset Management Holding SA now owns 28,346 shares of the company’s stock worth $499,000 after purchasing an additional 2,473 shares in the last quarter. Institutional investors own 86.19% of the company’s stock.
Insider Activity
In other news, insider Hyong Kim sold 35,951 shares of the company’s stock in a transaction on Friday, June 12th. The shares were sold at an average price of $19.86, for a total value of $713,986.86. Following the sale, the insider directly owned 331,750 shares of the company’s stock, valued at approximately $6,588,555. This represents a 9.78% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO John E. Kao sold 298,000 shares of the company’s stock in a transaction on Wednesday, June 10th. The shares were sold at an average price of $20.36, for a total transaction of $6,067,280.00. Following the completion of the sale, the chief executive officer directly owned 1,386,766 shares in the company, valued at approximately $28,234,555.76. This represents a 17.69% decrease in their ownership of the stock. 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 quarter, insiders have sold 1,039,951 shares of company stock worth $19,976,967. 5.20% of the stock is owned by insiders.
Alignment Healthcare Trading Down 2.9%
Alignment Healthcare (NASDAQ:ALHC – Get Free Report) last issued its quarterly earnings data on Thursday, April 30th. The company reported $0.05 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.01 by $0.04. Alignment Healthcare had a return on equity of 11.50% and a net margin of 0.47%.The company had revenue of $1.24 billion during the quarter, compared to the consensus estimate of $1.22 billion. During the same period last year, the company earned ($0.05) earnings per share. The firm’s revenue was up 33.3% compared to the same quarter last year. On average, equities research analysts forecast that Alignment Healthcare, Inc. will post 0.2 earnings per share for the current year.
Analyst Ratings Changes
ALHC has been the topic of a number of research analyst reports. Wall Street Zen upgraded shares of Alignment Healthcare from a “hold” rating to a “buy” rating in a research report on Saturday, May 9th. Wolfe Research started coverage on Alignment Healthcare in a research note on Friday, April 17th. They issued an “outperform” rating and a $24.00 price objective for the company. Raymond James Financial set a $22.00 price target on shares of Alignment Healthcare in a research report on Thursday, May 7th. Zacks Research downgraded shares of Alignment Healthcare from a “strong-buy” rating to a “hold” rating in a research note on Monday, July 6th. Finally, UBS Group reiterated a “neutral” rating on shares of Alignment Healthcare in a report on Wednesday, July 8th. Six research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $24.30.
View Our Latest Report on ALHC
Alignment Healthcare Company Profile
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.
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