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

Principal Financial Group Inc. raised its position in Alignment Healthcare, Inc. (NASDAQ:ALHC) by 1,335.1% in the 3rd quarter, Holdings Channel reports. The firm owned 194,043 shares of the company’s stock after buying an additional 180,522 shares during the quarter. Principal Financial Group Inc.’s holdings in Alignment Healthcare were worth $2,294,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in ALHC. Jacobs Levy Equity Management Inc. bought a new stake in Alignment Healthcare during the first quarter valued at $918,000. Vanguard Group Inc. boosted its position in shares of Alignment Healthcare by 1.0% during the 1st quarter. Vanguard Group Inc. now owns 9,239,472 shares of the company’s stock valued at $45,828,000 after acquiring an additional 93,262 shares during the last quarter. Deerfield Management Company L.P. Series C boosted its position in shares of Alignment Healthcare by 31.8% during the 2nd quarter. Deerfield Management Company L.P. Series C now owns 10,901,485 shares of the company’s stock valued at $85,250,000 after acquiring an additional 2,630,788 shares during the last quarter. Bank of New York Mellon Corp grew its holdings in shares of Alignment Healthcare by 27.5% during the second quarter. Bank of New York Mellon Corp now owns 382,462 shares of the company’s stock worth $2,991,000 after purchasing an additional 82,559 shares in the last quarter. Finally, Hood River Capital Management LLC lifted its position in Alignment Healthcare by 6.4% during the second quarter. Hood River Capital Management LLC now owns 3,106,690 shares of the company’s stock valued at $24,294,000 after purchasing an additional 185,854 shares during the last quarter. 86.19% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

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

Alignment Healthcare Trading Down 0.4 %

NASDAQ:ALHC opened at $12.05 on Friday. The firm has a market capitalization of $2.31 billion, a P/E ratio of -15.65 and a beta of 1.45. The company has a quick ratio of 1.60, a current ratio of 1.60 and a debt-to-equity ratio of 1.82. The company has a fifty day moving average of $11.70 and a 200 day moving average of $9.56. Alignment Healthcare, Inc. has a 52 week low of $4.46 and a 52 week high of $14.25.

Alignment Healthcare (NASDAQ:ALHC) last issued its quarterly earnings data on Tuesday, October 29th. The company reported ($0.14) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.14). The firm had revenue of $692.43 million for the quarter, compared to analyst estimates of $662.11 million. Alignment Healthcare had a negative return on equity of 108.69% and a negative net margin of 5.84%. The business’s quarterly revenue was up 51.6% compared to the same quarter last year. During the same period last year, the company earned ($0.19) EPS. On average, research analysts predict that Alignment Healthcare, Inc. will post -0.69 earnings per share for the current year.

Insider Activity at Alignment Healthcare

In other Alignment Healthcare news, CFO Robert Thomas Freeman sold 8,561 shares of the company’s stock in a transaction that occurred on Wednesday, September 11th. The stock was sold at an average price of $10.01, for a total transaction of $85,695.61. Following the transaction, the chief financial officer now owns 399,429 shares in the company, valued at approximately $3,998,284.29. This represents a 2.10 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Dawn Christine Maroney sold 30,000 shares of the stock in a transaction that occurred 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 represents a 1.71 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 508,433 shares of company stock worth $6,095,028 over the last 90 days. 6.60% of the stock is owned by company insiders.

Alignment Healthcare Company 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.