Principal Financial Group Inc. Has $22.25 Million Holdings in Molina Healthcare, Inc (NYSE:MOH)

Principal Financial Group Inc. reduced its position in shares of Molina Healthcare, Inc (NYSE:MOH - Free Report) by 3.8% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 67,550 shares of the company's stock after selling 2,679 shares during the quarter. Principal Financial Group Inc. owned about 0.12% of Molina Healthcare worth $22,250,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Wellington Management Group LLP raised its holdings in Molina Healthcare by 7.4% during the 4th quarter. Wellington Management Group LLP now owns 2,632,232 shares of the company's stock worth $766,111,000 after purchasing an additional 181,073 shares during the last quarter. FMR LLC grew its position in shares of Molina Healthcare by 31.1% during the 4th quarter. FMR LLC now owns 1,801,113 shares of the company's stock worth $524,214,000 after buying an additional 427,276 shares during the period. Geode Capital Management LLC grew its position in shares of Molina Healthcare by 2.5% during the 4th quarter. Geode Capital Management LLC now owns 1,436,909 shares of the company's stock worth $417,144,000 after buying an additional 34,992 shares during the period. Invesco Ltd. grew its position in shares of Molina Healthcare by 28.5% during the 4th quarter. Invesco Ltd. now owns 1,327,021 shares of the company's stock worth $386,229,000 after buying an additional 294,180 shares during the period. Finally, Dimensional Fund Advisors LP grew its position in shares of Molina Healthcare by 15.3% during the 4th quarter. Dimensional Fund Advisors LP now owns 688,245 shares of the company's stock worth $200,307,000 after buying an additional 91,229 shares during the period. 98.50% of the stock is owned by institutional investors.

Analysts Set New Price Targets

MOH has been the subject of several analyst reports. Wall Street Zen lowered Molina Healthcare from a "buy" rating to a "hold" rating in a research report on Sunday, June 29th. Barclays dropped their price objective on Molina Healthcare from $351.00 to $347.00 and set an "equal weight" rating on the stock in a research note on Monday, June 9th. Truist Financial raised their price objective on Molina Healthcare from $340.00 to $400.00 and gave the stock a "buy" rating in a research note on Friday, April 11th. Sanford C. Bernstein assumed coverage on Molina Healthcare in a research note on Tuesday, April 22nd. They set an "outperform" rating and a $414.00 price objective on the stock. Finally, Morgan Stanley lowered Molina Healthcare from an "overweight" rating to an "equal weight" rating and decreased their price objective for the company from $364.00 to $266.00 in a research report on Thursday. Eleven investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Hold" and an average target price of $352.21.

Molina Healthcare Stock Down 3.3%

NYSE:MOH traded down $7.58 during trading hours on Friday, reaching $221.00. 1,445,598 shares of the stock were exchanged, compared to its average volume of 718,903. Molina Healthcare, Inc has a twelve month low of $219.72 and a twelve month high of $365.23. The company has a debt-to-equity ratio of 0.87, a current ratio of 1.63 and a quick ratio of 1.63. The firm has a 50 day moving average of $293.27 and a 200 day moving average of $303.36. The stock has a market cap of $11.98 billion, a PE ratio of 10.67, a PEG ratio of 0.93 and a beta of 0.55.

Molina Healthcare (NYSE:MOH - Get Free Report) last released its quarterly earnings results on Wednesday, April 23rd. The company reported $6.08 earnings per share for the quarter, topping analysts' consensus estimates of $5.96 by $0.12. Molina Healthcare had a return on equity of 28.38% and a net margin of 2.81%. The firm had revenue of $11.15 billion during the quarter, compared to the consensus estimate of $10.86 billion. During the same quarter in the prior year, the firm posted $5.73 EPS. The business's revenue was up 12.2% on a year-over-year basis. On average, equities analysts expect that Molina Healthcare, Inc will post 24.4 earnings per share for the current year.

Insider Activity at Molina Healthcare

In other news, CEO Joseph M. Zubretsky sold 87,500 shares of the stock in a transaction that occurred on Wednesday, April 30th. The stock was sold at an average price of $320.06, for a total value of $28,005,250.00. Following the completion of the sale, the chief executive officer owned 257,715 shares of the company's stock, valued at approximately $82,484,262.90. This represents a 25.35% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Richard M. Schapiro sold 669 shares of the stock in a transaction that occurred on Tuesday, April 29th. The shares were sold at an average price of $320.50, for a total value of $214,414.50. Following the completion of the sale, the director directly owned 11,244 shares of the company's stock, valued at approximately $3,603,702. The trade was a 5.62% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 1.10% of the company's stock.

Molina Healthcare Profile

Molina Healthcare, Inc provides managed healthcare services to low-income families and individuals under the Medicaid and Medicare programs and through the state insurance marketplaces. It operates in four segments: Medicaid, Medicare, Marketplace, and Other. The company served in across 19 states. The company was founded in 1980 and is headquartered in Long Beach, California.