Northern Trust Corp Has $3.42 Million Stock Position in Clover Health Investments, Corp. (NASDAQ:CLOV)

Northern Trust Corp grew its position in shares of Clover Health Investments, Corp. (NASDAQ:CLOV - Free Report) by 16.0% during the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 1,085,626 shares of the company's stock after purchasing an additional 149,714 shares during the quarter. Northern Trust Corp owned 0.22% of Clover Health Investments worth $3,420,000 as of its most recent filing with the SEC.

Other hedge funds also recently modified their holdings of the company. JPMorgan Chase & Co. acquired a new stake in shares of Clover Health Investments in the third quarter worth $448,000. Swiss National Bank boosted its position in shares of Clover Health Investments by 6.3% in the fourth quarter. Swiss National Bank now owns 802,100 shares of the company's stock worth $2,527,000 after buying an additional 47,700 shares during the period. Counterpoint Mutual Funds LLC boosted its position in Clover Health Investments by 153.0% during the fourth quarter. Counterpoint Mutual Funds LLC now owns 233,392 shares of the company's stock valued at $735,000 after purchasing an additional 141,148 shares during the last quarter. Marshall Wace LLP boosted its position in Clover Health Investments by 167.6% during the fourth quarter. Marshall Wace LLP now owns 3,769,765 shares of the company's stock valued at $11,875,000 after purchasing an additional 2,360,902 shares during the last quarter. Finally, Ballentine Partners LLC acquired a new stake in Clover Health Investments during the fourth quarter valued at $131,000. 19.77% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Separately, Canaccord Genuity Group lifted their price objective on Clover Health Investments from $4.20 to $4.50 and gave the company a "buy" rating in a research report on Monday, March 3rd.

Clover Health Investments Price Performance

CLOV traded down $0.04 during trading on Wednesday, reaching $3.18. 2,211,875 shares of the stock traded hands, compared to its average volume of 6,665,003. Clover Health Investments, Corp. has a fifty-two week low of $0.90 and a fifty-two week high of $4.87. The stock's 50-day simple moving average is $3.51 and its two-hundred day simple moving average is $3.66. The stock has a market cap of $1.62 billion, a price-to-earnings ratio of -15.87 and a beta of 1.99.

Clover Health Investments (NASDAQ:CLOV - Get Free Report) last posted its quarterly earnings data on Tuesday, May 6th. The company reported $0.05 EPS for the quarter, topping analysts' consensus estimates of ($0.07) by $0.12. Clover Health Investments had a negative return on equity of 25.46% and a negative net margin of 5.92%. The business had revenue of $462.33 million for the quarter, compared to analyst estimates of $466.93 million. Research analysts anticipate that Clover Health Investments, Corp. will post -0.12 earnings per share for the current fiscal year.

Insider Activity at Clover Health Investments

In other news, CEO Brady Patrick Priest sold 75,000 shares of the business's stock in a transaction that occurred on Thursday, March 6th. The stock was sold at an average price of $3.68, for a total value of $276,000.00. Following the transaction, the chief executive officer now directly owns 2,418,151 shares of the company's stock, valued at $8,898,795.68. The trade was a 3.01% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, General Counsel Karen Soares sold 52,500 shares of the company's stock in a transaction on Thursday, March 6th. The stock was sold at an average price of $3.80, for a total value of $199,500.00. Following the transaction, the general counsel now directly owns 1,299,663 shares in the company, valued at approximately $4,938,719.40. This represents a 3.88% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 327,500 shares of company stock worth $1,197,500 over the last three months. Company insiders own 22.28% of the company's stock.

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.