American Century Companies Inc. Purchases 121,879 Shares of 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. lifted its position in shares of Clover Health Investments, Corp. (NASDAQ:CLOV - Free Report) by 15.9% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 886,573 shares of the company's stock after purchasing an additional 121,879 shares during the quarter. American Century Companies Inc. owned 0.17% of Clover Health Investments worth $3,183,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Rhumbline Advisers boosted its position in shares of Clover Health Investments by 80.5% during the first quarter. Rhumbline Advisers now owns 7,085 shares of the company's stock worth $25,000 after purchasing an additional 3,160 shares in the last quarter. Perigon Wealth Management LLC bought a new stake in Clover Health Investments in the 1st quarter valued at $36,000. Triumph Capital Management bought a new stake in Clover Health Investments in the 4th quarter valued at $45,000. Deutsche Bank AG lifted its position in Clover Health Investments by 149.4% in the 1st quarter. Deutsche Bank AG now owns 16,307 shares of the company's stock valued at $59,000 after acquiring an additional 9,768 shares in the last quarter. Finally, Wedbush Securities Inc. lifted its position in Clover Health Investments by 110.0% in the 1st quarter. Wedbush Securities Inc. now owns 21,000 shares of the company's stock valued at $75,000 after acquiring an additional 11,000 shares in the last quarter. 19.77% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

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

Insider Buying and Selling at Clover Health Investments

In other Clover Health Investments news, CEO Conrad Wai sold 91,197 shares of Clover Health Investments stock in a transaction on Wednesday, July 23rd. The shares were sold at an average price of $3.32, for a total value of $302,774.04. Following the sale, the chief executive officer directly owned 1,403,701 shares in the company, valued at approximately $4,660,287.32. The trade was a 6.10% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Anna U. Loengard purchased 26,500 shares of the stock in a transaction on Wednesday, August 13th. The stock was acquired at an average price of $2.59 per share, for a total transaction of $68,635.00. Following the completion of the purchase, the director directly owned 29,610 shares in the company, valued at approximately $76,689.90. The trade was a 852.09% increase in their position. The disclosure for this purchase can be found here. 24.07% of the stock is currently owned by insiders.

Clover Health Investments Trading Down 0.4%

Shares of CLOV stock opened at $2.62 on Friday. Clover Health Investments, Corp. has a 1 year low of $2.12 and a 1 year high of $4.87. The firm's fifty day moving average price is $2.78 and its two-hundred day moving average price is $3.28. The firm has a market capitalization of $1.34 billion, a P/E ratio of -32.75 and a beta of 1.91.

Clover Health Investments Profile

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.

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