American Century Companies Inc. Raises Stock Holdings in Clover Health Investments, Corp. $CLOV

Key Points

• American Century Companies Inc. increased its holdings in Clover Health Investments by 15.9%, acquiring an additional 121,879 shares, bringing its total ownership to 886,573 shares, valued at approximately $3.18 million.
• Additional institutional investors like Rhumbline Advisers and Deutsche Bank AG have also significantly boosted their stakes in Clover Health, with 19.77% of the stock now owned by institutional investors.
• Analysts have recently cut Clover Health's price targets, with Canaccord Genuity lowering it from $4.50 to $4.10 while UBS has set a revised target of $3.00, affecting overall market sentiment around the stock.

American Century Companies Inc. grew its holdings in Clover Health Investments, Corp. (NASDAQ:CLOV - Free Report) by 15.9% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 886,573 shares of the company's stock after acquiring an additional 121,879 shares during the quarter. American Century Companies Inc. owned 0.17% of Clover Health Investments worth $3,183,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Barclays PLC raised its stake in Clover Health Investments by 336.5% in the fourth quarter. Barclays PLC now owns 461,692 shares of the company's stock valued at $1,454,000 after buying an additional 355,926 shares during the period. NewEdge Advisors LLC grew its position in shares of Clover Health Investments by 2,248.1% in the fourth quarter. NewEdge Advisors LLC now owns 44,591 shares of the company's stock valued at $140,000 after purchasing an additional 42,692 shares in the last quarter. Tower Research Capital LLC TRC lifted its stake in shares of Clover Health Investments by 2,867.5% in the 4th quarter. Tower Research Capital LLC TRC now owns 46,086 shares of the company's stock valued at $145,000 after acquiring an additional 44,533 shares during the last quarter. Northern Trust Corp raised its position in Clover Health Investments by 16.0% during the 4th quarter. Northern Trust Corp now owns 1,085,626 shares of the company's stock valued at $3,420,000 after purchasing an additional 149,714 shares during the last quarter. Finally, Schonfeld Strategic Advisors LLC bought a new position in Clover Health Investments during the 4th quarter valued at approximately $1,860,000. 19.77% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, Director Anna U. Loengard acquired 26,500 shares of the company's stock in a transaction dated Wednesday, August 13th. The stock was bought at an average price of $2.59 per share, with a total value of $68,635.00. Following the completion of the acquisition, the director owned 29,610 shares in the company, valued at approximately $76,689.90. This represents a 852.09% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Conrad Wai sold 118,600 shares of Clover Health Investments stock in a transaction on Tuesday, July 22nd. The stock was sold at an average price of $3.29, for a total transaction of $390,194.00. Following the sale, the chief executive officer directly owned 1,494,898 shares of the company's stock, valued at $4,918,214.42. This represents a 7.35% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 24.07% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the company. UBS Group lowered their price objective on Clover Health Investments from $4.50 to $3.00 and set a "neutral" rating for the company in a research note on Wednesday, August 6th. Canaccord Genuity Group lowered their price objective on Clover Health Investments from $4.50 to $4.10 and set a "buy" rating for the company in a research report on Thursday, August 7th. Two investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $4.37.

Clover Health Investments Stock Performance

Shares of NASDAQ CLOV traded up $0.05 during midday trading on Friday, reaching $2.74. 872,820 shares of the company's stock were exchanged, compared to its average volume of 7,145,639. The stock has a market capitalization of $1.40 billion, a PE ratio of -34.19 and a beta of 1.96. The business's fifty day moving average price is $2.77 and its two-hundred day moving average price is $3.24. Clover Health Investments, Corp. has a 52-week low of $2.12 and a 52-week high of $4.87.

About Clover Health Investments

Clover Health Investments, Corp. provides medicare advantage plans in the United States. It operates through two segments: Insurance and Non-Insurance. It also offers Clover Assistant, a cloud-based software platform, that enables physicians to detect, identify, and manage chronic diseases earlier; and access to data-driven and personalized insights for the patients they treat.