Principal Financial Group Inc. Purchases 180,522 Shares of Alignment Healthcare, Inc. (NASDAQ:ALHC)

Principal Financial Group Inc. boosted its position in Alignment Healthcare, Inc. (NASDAQ:ALHC) by 1,335.1% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 194,043 shares of the company’s stock after buying an additional 180,522 shares during the period. Principal Financial Group Inc. owned approximately 0.10% of Alignment Healthcare worth $2,294,000 at the end of the most recent quarter.

A number of other institutional investors have also bought and sold shares of the company. nVerses Capital LLC acquired a new position in shares of Alignment Healthcare in the 3rd quarter valued at about $95,000. Creative Planning lifted its stake in Alignment Healthcare by 20.0% in the third quarter. Creative Planning now owns 12,442 shares of the company’s stock valued at $147,000 after buying an additional 2,072 shares during the period. SG Americas Securities LLC bought a new stake in shares of Alignment Healthcare in the 3rd quarter valued at $521,000. Mackenzie Financial Corp increased its stake in shares of Alignment Healthcare by 110.0% in the 2nd quarter. Mackenzie Financial Corp now owns 36,526 shares of the company’s stock valued at $286,000 after acquiring an additional 19,129 shares in the last quarter. Finally, The Manufacturers Life Insurance Company lifted its position in shares of Alignment Healthcare by 20.9% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 55,531 shares of the company’s stock valued at $434,000 after acquiring an additional 9,595 shares during the period. Institutional investors own 86.19% of the company’s stock.

Alignment Healthcare Trading Down 0.4 %

Shares of Alignment Healthcare stock opened at $12.05 on Friday. Alignment Healthcare, Inc. has a 1 year low of $4.46 and a 1 year high of $14.25. The stock has a fifty day moving average price of $11.70 and a 200-day moving average price of $9.56. The company has a debt-to-equity ratio of 1.82, a current ratio of 1.60 and a quick ratio of 1.60. The firm has a market cap of $2.31 billion, a PE ratio of -15.65 and a beta of 1.45.

Alignment Healthcare (NASDAQ:ALHC) last released its earnings results on Tuesday, October 29th. The company reported ($0.14) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.14). Alignment Healthcare had a negative return on equity of 108.69% and a negative net margin of 5.84%. The business had revenue of $692.43 million during the quarter, compared to the consensus estimate of $662.11 million. During the same period last year, the business posted ($0.19) earnings per share. The business’s revenue for the quarter was up 51.6% on a year-over-year basis. Equities research analysts anticipate that Alignment Healthcare, Inc. will post -0.69 EPS for the current year.

Wall Street Analyst Weigh In

ALHC has been the subject of a number of research reports. Barclays raised their price target on shares of Alignment Healthcare from $7.00 to $8.00 and gave the stock an “underweight” rating in a report on Wednesday, October 30th. Stifel Nicolaus upped their price target on Alignment Healthcare from $9.00 to $12.00 and gave the stock a “buy” rating in a research note on Friday, July 26th. UBS Group increased their price target on Alignment Healthcare from $9.00 to $12.00 and gave the stock a “neutral” rating in a report on Wednesday, October 30th. TD Cowen boosted their price objective on Alignment Healthcare from $8.00 to $10.00 and gave the company a “buy” rating in a report on Tuesday, August 6th. Finally, Robert W. Baird increased their target price on Alignment Healthcare from $10.00 to $11.00 and gave the stock an “outperform” rating in a report on Wednesday, August 14th. One analyst has rated the stock with a sell rating, three have assigned a hold rating, six have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $10.33.

Insider Activity

In other news, insider Dawn Christine Maroney sold 30,000 shares of the firm’s stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $10.77, for a total value of $323,100.00. Following the completion of the transaction, the insider now directly owns 1,726,097 shares of the company’s stock, valued at $18,590,064.69. This trade represents a 1.71 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Robert Thomas Freeman sold 8,561 shares of the business’s stock in a transaction on Wednesday, September 11th. The shares were sold at an average price of $10.01, for a total value of $85,695.61. Following the sale, the chief financial officer now owns 399,429 shares in the company, valued at approximately $3,998,284.29. The trade was a 2.10 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 508,433 shares of company stock valued at $6,095,028 over the last quarter. Company insiders own 6.60% of the company’s stock.

Alignment Healthcare Profile

Alignment Healthcare, Inc, a tech-enabled Medicare advantage company, operates consumer-centric health care platform for seniors in the United States. It provides customized health care designed to meet the needs of a diverse array of seniors through its Medicare advantage plans. The company was founded in 2013 and is based in Orange, California.