Principal Financial Group Inc. Cuts Stock Holdings in Oscar Health, Inc. (NYSE:OSCR)

Principal Financial Group Inc. lessened its position in Oscar Health, Inc. (NYSE:OSCR) by 31.2% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 18,072 shares of the company’s stock after selling 8,194 shares during the quarter. Principal Financial Group Inc.’s holdings in Oscar Health were worth $383,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in OSCR. Vanguard Group Inc. raised its holdings in Oscar Health by 2.4% in the 1st quarter. Vanguard Group Inc. now owns 14,582,762 shares of the company’s stock valued at $216,846,000 after acquiring an additional 337,850 shares during the last quarter. Price T Rowe Associates Inc. MD increased its holdings in shares of Oscar Health by 153.5% in the first quarter. Price T Rowe Associates Inc. MD now owns 3,978,152 shares of the company’s stock valued at $59,156,000 after purchasing an additional 2,409,160 shares during the last quarter. Renaissance Technologies LLC lifted its position in Oscar Health by 31.7% during the second quarter. Renaissance Technologies LLC now owns 3,886,100 shares of the company’s stock worth $61,478,000 after buying an additional 934,600 shares in the last quarter. Assenagon Asset Management S.A. boosted its stake in Oscar Health by 32.9% during the second quarter. Assenagon Asset Management S.A. now owns 2,046,046 shares of the company’s stock worth $32,368,000 after buying an additional 507,009 shares during the last quarter. Finally, Bank of New York Mellon Corp grew its holdings in Oscar Health by 161.4% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,393,048 shares of the company’s stock valued at $22,038,000 after buying an additional 860,226 shares in the last quarter. 75.70% of the stock is owned by institutional investors and hedge funds.

Oscar Health Price Performance

Shares of NYSE OSCR opened at $15.98 on Monday. The company has a current ratio of 0.73, a quick ratio of 0.73 and a debt-to-equity ratio of 0.26. The stock has a market cap of $3.95 billion, a price-to-earnings ratio of -266.33 and a beta of 1.67. The company’s 50-day moving average price is $17.90 and its 200 day moving average price is $18.18. Oscar Health, Inc. has a 52 week low of $7.29 and a 52 week high of $23.79.

Oscar Health (NYSE:OSCR) last announced its quarterly earnings data on Thursday, November 7th. The company reported ($0.22) earnings per share for the quarter, missing the consensus estimate of ($0.20) by ($0.02). Oscar Health had a return on equity of 2.79% and a net margin of 0.35%. The company had revenue of $2.42 billion for the quarter, compared to analysts’ expectations of $2.33 billion. During the same quarter in the previous year, the company earned ($0.29) earnings per share. The company’s revenue was up 68.3% on a year-over-year basis. As a group, research analysts forecast that Oscar Health, Inc. will post -0.01 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

OSCR has been the topic of several recent research reports. Piper Sandler reissued an “overweight” rating and set a $28.00 price target on shares of Oscar Health in a research report on Tuesday, September 10th. Bank of America lowered shares of Oscar Health from a “neutral” rating to an “underperform” rating and decreased their target price for the company from $21.00 to $13.50 in a report on Wednesday, November 6th. Finally, UBS Group assumed coverage on shares of Oscar Health in a report on Monday, October 7th. They set a “neutral” rating and a $23.00 price target for the company. One investment analyst has rated the stock with a sell rating, two have given a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $22.93.

Insider Activity

In other Oscar Health news, CFO Richard Scott Blackley sold 68,978 shares of the stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $17.99, for a total value of $1,240,914.22. Following the sale, the chief financial officer now directly owns 884,213 shares of the company’s stock, valued at $15,906,991.87. This trade represents a 7.24 % 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, CAO Victoria Baltrus sold 4,226 shares of Oscar Health stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $17.99, for a total value of $76,025.74. Following the sale, the chief accounting officer now directly owns 140,648 shares in the company, valued at approximately $2,530,257.52. This trade represents a 2.92 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have purchased 1,055,478 shares of company stock worth $14,432,852 and have sold 194,569 shares worth $3,433,319. Company insiders own 25.11% of the company’s stock.

Oscar Health Profile

Oscar Health, Inc operates as a health insurance in the United States. The company offers health plans in individual and small group markets, as well as +Oscar, a technology driven platform that help providers and payors directly enable their shift to value-based care. It also provides reinsurance products.