Truist Financial Corp Trims Stake in Clover Health Investments, Corp. (NASDAQ:CLOV)

Truist Financial Corp lowered its position in Clover Health Investments, Corp. (NASDAQ:CLOV) by 5.8% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 171,395 shares of the company’s stock after selling 10,489 shares during the period. Truist Financial Corp’s holdings in Clover Health Investments were worth $211,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also modified their holdings of the business. AQR Capital Management LLC lifted its stake in shares of Clover Health Investments by 4.6% during the 2nd quarter. AQR Capital Management LLC now owns 729,706 shares of the company’s stock worth $898,000 after acquiring an additional 32,288 shares during the last quarter. Squarepoint Ops LLC increased its stake in Clover Health Investments by 220.7% in the second quarter. Squarepoint Ops LLC now owns 130,352 shares of the company’s stock worth $160,000 after purchasing an additional 238,329 shares during the period. Marshall Wace LLP bought a new stake in shares of Clover Health Investments during the second quarter worth $55,000. Canada Pension Plan Investment Board bought a new stake in shares of Clover Health Investments during the second quarter worth $203,000. Finally, XTX Topco Ltd purchased a new stake in shares of Clover Health Investments during the second quarter valued at $932,000. Hedge funds and other institutional investors own 19.77% of the company’s stock.

Clover Health Investments Stock Performance

Clover Health Investments stock opened at $4.00 on Friday. The company has a market capitalization of $1.99 billion, a PE ratio of -11.76 and a beta of 2.13. The company has a 50 day moving average price of $3.14 and a 200-day moving average price of $1.83. Clover Health Investments, Corp. has a fifty-two week low of $0.61 and a fifty-two week high of $4.71.

Clover Health Investments (NASDAQ:CLOV) last released its quarterly earnings data on Monday, August 5th. The company reported $0.01 EPS for the quarter, topping the consensus estimate of ($0.04) by $0.05. Clover Health Investments had a negative return on equity of 36.55% and a negative net margin of 7.30%. The company had revenue of $356.26 million for the quarter, compared to the consensus estimate of $338.70 million. During the same period last year, the business posted ($0.06) EPS. On average, analysts forecast that Clover Health Investments, Corp. will post -0.13 earnings per share for the current year.

Analyst Ratings Changes

Separately, UBS Group started coverage on shares of Clover Health Investments in a research note on Monday, October 7th. They issued a “neutral” rating and a $4.00 price target on the stock.

About Clover Health Investments

Clover Health Investments, Corp. provides medicare advantage plans in the United States. It operates through two segments: Insurance and Non-Insurance. It also offers Clover Assistant, a cloud-based software platform, that enables physicians to detect, identify, and manage chronic diseases earlier; and access to data-driven and personalized insights for the patients they treat.