Legal & General Group Plc Acquires Shares of 405,882 Alignment Healthcare, Inc. $ALHC

Key Points

• Legal & General Group Plc acquired 405,882 shares of Alignment Healthcare in the second quarter, valued at approximately $9.7 million and representing about 0.20% of the company. Institutional investors collectively own 86.19% of ALHC.
• Alignment Healthcare reported quarterly EPS of $0.17, exceeding the $0.13 analyst consensus, while revenue rose 31.6% year over year to $1.34 billion. Analysts maintain a “Moderate Buy” consensus rating with an average price target of $23.60.
• Company insiders sold more than 1 million shares worth approximately $18.6 million over the past 90 days, while ALHC recently traded at $13.59—near its 52-week low of $12.70 and below its 52-week high of $25.12.

Legal & General Group Plc bought a new position in Alignment Healthcare, Inc. (NASDAQ:ALHC - Free Report) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 405,882 shares of the company's stock, valued at approximately $9,664,000. Legal & General Group Plc owned approximately 0.20% of Alignment Healthcare as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of ALHC. Bank of America Corp DE boosted its holdings in Alignment Healthcare by 156.5% in the 1st quarter. Bank of America Corp DE now owns 3,215,667 shares of the company's stock worth $56,660,000 after buying an additional 1,961,778 shares during the period. 1492 Capital Management LLC raised its holdings in Alignment Healthcare by 61.8% during the 4th quarter. 1492 Capital Management LLC now owns 324,865 shares of the company's stock valued at $6,416,000 after acquiring an additional 124,143 shares during the period. William Blair Investment Management LLC lifted its position in shares of Alignment Healthcare by 8.7% during the fourth quarter. William Blair Investment Management LLC now owns 2,305,255 shares of the company's stock worth $45,529,000 after acquiring an additional 185,303 shares in the last quarter. Simplify Asset Management Inc. lifted its position in shares of Alignment Healthcare by 92.0% during the fourth quarter. Simplify Asset Management Inc. now owns 262,880 shares of the company's stock worth $5,192,000 after acquiring an additional 125,946 shares in the last quarter. Finally, Principal Financial Group Inc. lifted its position in shares of Alignment Healthcare by 36.5% during the first quarter. Principal Financial Group Inc. now owns 544,274 shares of the company's stock worth $9,590,000 after acquiring an additional 145,491 shares in the last quarter. Institutional investors own 86.19% of the company's stock.

Insider Transactions at Alignment Healthcare

In related news, EVP Joseph S. Konowiecki sold 25,000 shares of the business's stock in a transaction that occurred on Wednesday, July 1st. The stock was sold at an average price of $24.00, for a total value of $600,000.00. Following the completion of the sale, the executive vice president owned 1,103,816 shares in the company, valued at $26,491,584. The trade was a 2.21% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Hyong Kim sold 35,951 shares of the stock in a transaction that occurred on Friday, June 12th. The shares were sold at an average price of $19.86, for a total transaction of $713,986.86. Following the transaction, the insider owned 331,750 shares in the company, valued at $6,588,555. The trade was a 9.78% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 1,009,951 shares of company stock valued at $18,597,287 over the last 90 days. Company insiders own 5.20% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on ALHC. JPMorgan Chase & Co. decreased their price objective on Alignment Healthcare from $26.00 to $22.00 and set an "overweight" rating on the stock in a research note on Tuesday, August 4th. TD Cowen restated a "buy" rating on shares of Alignment Healthcare in a research note on Monday, August 3rd. Barclays reduced their target price on Alignment Healthcare from $19.00 to $16.00 and set an "equal weight" rating for the company in a report on Tuesday, May 26th. Raymond James Financial downgraded shares of Alignment Healthcare from a "strong-buy" rating to an "outperform" rating and lowered their price target for the stock from $22.00 to $19.00 in a report on Monday, August 3rd. Finally, KeyCorp restated an "overweight" rating on shares of Alignment Healthcare in a research report on Wednesday, June 10th. Seven research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $23.60.

Alignment Healthcare Stock Performance

NASDAQ ALHC opened at $13.59 on Wednesday. Alignment Healthcare, Inc. has a 52-week low of $12.70 and a 52-week high of $25.12. The company has a debt-to-equity ratio of 1.22, a quick ratio of 1.70 and a current ratio of 1.70. The company has a market capitalization of $2.82 billion, a P/E ratio of 71.53 and a beta of 1.11. The company has a fifty day moving average of $17.77 and a 200-day moving average of $18.42.

Alignment Healthcare (NASDAQ:ALHC - Get Free Report) last released its earnings results on Thursday, July 30th. The company reported $0.17 EPS for the quarter, beating analysts' consensus estimates of $0.13 by $0.04. Alignment Healthcare had a return on equity of 20.02% and a net margin of 0.89%.The business had revenue of $1.34 billion for the quarter, compared to analysts' expectations of $1.31 billion. During the same quarter in the prior year, the firm earned $0.07 earnings per share. The firm's revenue was up 31.6% on a year-over-year basis. As a group, equities research analysts predict that Alignment Healthcare, Inc. will post 0.17 EPS for the current fiscal year.

Alignment Healthcare Profile

Alignment Healthcare, Inc NASDAQ: ALHC is a health care company specializing in value-based care for Medicare Advantage beneficiaries. The company leverages an integrated care model that combines in-home clinical services, telehealth capabilities and digital health tools to manage chronic conditions, improve outcomes and enhance patient experience.

At the core of Alignment Healthcare's approach is a proprietary technology platform that aggregates real-time clinical and claims data to support preventive care, risk stratification and personalized care plans.

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