Principal Financial Group Inc. Cuts Stock Position in Alignment Healthcare, Inc. (NASDAQ:ALHC)

Principal Financial Group Inc. lowered its holdings in Alignment Healthcare, Inc. (NASDAQ:ALHC) by 2.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 188,936 shares of the company’s stock after selling 5,107 shares during the period. Principal Financial Group Inc. owned about 0.10% of Alignment Healthcare worth $2,126,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of the business. Rhumbline Advisers boosted its position in Alignment Healthcare by 2.2% in the fourth quarter. Rhumbline Advisers now owns 135,704 shares of the company’s stock worth $1,527,000 after purchasing an additional 2,937 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its position in Alignment Healthcare by 1,672.5% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 656,637 shares of the company’s stock worth $7,591,000 after purchasing an additional 619,592 shares during the last quarter. R Squared Ltd purchased a new position in Alignment Healthcare in the fourth quarter worth $55,000. SG Americas Securities LLC boosted its position in Alignment Healthcare by 11.7% in the fourth quarter. SG Americas Securities LLC now owns 49,272 shares of the company’s stock worth $554,000 after purchasing an additional 5,163 shares during the last quarter. Finally, Ballentine Partners LLC purchased a new position in Alignment Healthcare in the fourth quarter worth $121,000. Hedge funds and other institutional investors own 86.19% of the company’s stock.

Wall Street Analysts Forecast Growth

ALHC has been the topic of several research analyst reports. William Blair reissued an “outperform” rating on shares of Alignment Healthcare in a research report on Friday, February 28th. Stifel Nicolaus upped their price target on Alignment Healthcare from $16.00 to $18.00 and gave the company a “buy” rating in a research report on Friday, February 28th. Piper Sandler upped their price target on Alignment Healthcare from $14.00 to $21.00 and gave the company an “overweight” rating in a research report on Tuesday. Barclays upped their price target on Alignment Healthcare from $8.00 to $9.00 and gave the company an “underweight” rating in a research report on Friday, February 28th. Finally, Stephens reaffirmed an “overweight” rating and set a $17.00 price target on shares of Alignment Healthcare in a research report on Monday, February 24th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $14.56.

Alignment Healthcare Stock Performance

NASDAQ:ALHC opened at $15.81 on Thursday. The company has a debt-to-equity ratio of 1.82, a quick ratio of 1.60 and a current ratio of 1.60. Alignment Healthcare, Inc. has a 52-week low of $4.46 and a 52-week high of $16.25. The firm has a market cap of $3.03 billion, a price-to-earnings ratio of -20.53 and a beta of 1.50. The business’s fifty day moving average is $13.80 and its 200 day moving average is $12.12.

Insider Activity at Alignment Healthcare

In related news, CEO John E. Kao sold 90,000 shares of the business’s stock in a transaction on Wednesday, December 11th. The stock was sold at an average price of $11.65, for a total transaction of $1,048,500.00. Following the sale, the chief executive officer now directly owns 2,363,100 shares in the company, valued at approximately $27,530,115. The trade was a 3.67 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, COO Sebastian Burzacchi sold 8,550 shares of the business’s stock in a transaction on Tuesday, December 10th. The shares were sold at an average price of $11.26, for a total value of $96,273.00. Following the sale, the chief operating officer now owns 217,395 shares in the company, valued at approximately $2,447,867.70. The trade was a 3.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 378,428 shares of company stock worth $5,009,324. 6.60% of the stock is owned by company insiders.

About Alignment Healthcare

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.