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

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

Several other institutional investors also recently made changes to their positions in the stock. Neo Ivy Capital Management purchased a new stake in shares of Oscar Health in the third quarter worth about $600,000. Geode Capital Management LLC grew its stake in Oscar Health by 11.7% during the 3rd quarter. Geode Capital Management LLC now owns 4,339,640 shares of the company’s stock valued at $92,062,000 after purchasing an additional 455,205 shares in the last quarter. Barclays PLC boosted its stake in Oscar Health by 217.5% during the 3rd quarter. Barclays PLC now owns 325,818 shares of the company’s stock valued at $6,911,000 after acquiring an additional 223,189 shares during the last quarter. Y Intercept Hong Kong Ltd bought a new position in Oscar Health during the 3rd quarter worth approximately $2,764,000. Finally, Soros Fund Management LLC acquired a new position in shares of Oscar Health in the 3rd quarter worth approximately $12,726,000. 75.70% of the stock is owned by hedge funds and other institutional investors.

Oscar Health Price Performance

Shares of OSCR opened at $14.35 on Monday. The business’s 50-day moving average is $15.28 and its 200-day moving average is $16.99. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.73 and a quick ratio of 0.73. The company has a market capitalization of $3.55 billion, a price-to-earnings ratio of -239.13 and a beta of 1.63. Oscar Health, Inc. has a fifty-two week low of $8.44 and a fifty-two week high of $23.79.

Oscar Health (NYSE:OSCR) last released 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 net margin of 0.35% and a return on equity of 2.79%. The company had revenue of $2.42 billion during the quarter, compared to analyst estimates of $2.33 billion. During the same quarter in the prior year, the company posted ($0.29) EPS. The firm’s quarterly revenue was up 68.3% compared to the same quarter last year. Equities research analysts expect that Oscar Health, Inc. will post -0.01 EPS for the current fiscal year.

Insider Activity at Oscar Health

In related news, Vice Chairman Joshua Kushner purchased 276,040 shares of the stock in a transaction on Monday, November 11th. The shares were bought at an average price of $13.58 per share, for a total transaction of $3,748,623.20. Following the completion of the acquisition, the insider now directly owns 5,031,262 shares in the company, valued at approximately $68,324,537.96. This trade represents a 5.80 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Elbert O. Jr. Robinson sold 25,000 shares of Oscar Health stock in a transaction that occurred on Wednesday, November 20th. The shares were sold at an average price of $17.05, for a total transaction of $426,250.00. Following the completion of the transaction, the director now directly owns 89,512 shares in the company, valued at approximately $1,526,179.60. This represents a 21.83 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders bought 1,055,478 shares of company stock valued at $14,432,852 and sold 103,610 shares valued at $1,847,519. 25.11% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several research firms have recently commented on OSCR. Bank of America lowered shares of Oscar Health from a “neutral” rating to an “underperform” rating and decreased their price target for the company from $21.00 to $13.50 in a report on Wednesday, November 6th. Piper Sandler reissued an “overweight” rating and set a $28.00 price target on shares of Oscar Health in a report on Tuesday, September 10th. UBS Group initiated coverage on shares of Oscar Health in a research note on Monday, October 7th. They issued a “neutral” rating and a $23.00 price target for the company. Finally, Jefferies Financial Group began coverage on shares of Oscar Health in a research note on Tuesday, December 10th. They set an “underperform” rating and a $12.00 price objective on the stock. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating, four have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $21.56.

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.