Principal Financial Group Inc. Trims Stock Holdings in Alignment Healthcare, Inc. (NASDAQ:ALHC)

Principal Financial Group Inc. reduced its position in Alignment Healthcare, Inc. (NASDAQ:ALHC - Free Report) by 50.2% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 94,111 shares of the company's stock after selling 94,825 shares during the period. Principal Financial Group Inc.'s holdings in Alignment Healthcare were worth $1,752,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Amalgamated Bank increased its stake in Alignment Healthcare by 21.6% during the first quarter. Amalgamated Bank now owns 3,466 shares of the company's stock worth $65,000 after acquiring an additional 616 shares during the last quarter. RiverPark Advisors LLC bought a new stake in Alignment Healthcare during the fourth quarter worth approximately $106,000. Tower Research Capital LLC TRC increased its stake in Alignment Healthcare by 146.7% during the fourth quarter. Tower Research Capital LLC TRC now owns 10,571 shares of the company's stock worth $119,000 after acquiring an additional 6,286 shares during the last quarter. Dark Forest Capital Management LP bought a new stake in Alignment Healthcare during the fourth quarter worth approximately $150,000. Finally, TME Financial Inc. bought a new stake in Alignment Healthcare during the fourth quarter worth approximately $175,000. Institutional investors own 86.19% of the company's stock.

Insider Buying and Selling at Alignment Healthcare

In other news, insider Andreas P. Wagner sold 19,399 shares of the firm's stock in a transaction dated Wednesday, June 11th. The shares were sold at an average price of $15.26, for a total value of $296,028.74. Following the sale, the insider directly owned 204,075 shares in the company, valued at approximately $3,114,184.50. This trade represents a 8.68% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO John E. Kao sold 180,000 shares of the firm's stock in a transaction dated Thursday, July 10th. The shares were sold at an average price of $13.41, for a total transaction of $2,413,800.00. Following the completion of the sale, the chief executive officer owned 1,553,100 shares in the company, valued at $20,827,071. This represents a 10.39% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 17,685,262 shares of company stock worth $269,685,496. 6.60% of the stock is currently owned by company insiders.

Alignment Healthcare Trading Down 0.9%

ALHC stock traded down $0.12 during mid-day trading on Tuesday, reaching $12.38. The company had a trading volume of 1,009,655 shares, compared to its average volume of 2,249,859. The company has a debt-to-equity ratio of 2.95, a current ratio of 1.69 and a quick ratio of 1.69. The company has a market capitalization of $2.45 billion, a PE ratio of -25.81 and a beta of 1.16. The firm has a 50 day moving average of $14.42 and a 200 day moving average of $15.35. Alignment Healthcare, Inc. has a 12 month low of $7.92 and a 12 month high of $21.06.

Alignment Healthcare (NASDAQ:ALHC - Get Free Report) last issued its earnings results on Thursday, May 1st. The company reported ($0.05) EPS for the quarter, topping analysts' consensus estimates of ($0.12) by $0.07. The business had revenue of $926.93 million for the quarter, compared to the consensus estimate of $889.83 million. Alignment Healthcare had a negative net margin of 3.02% and a negative return on equity of 80.49%. The company's revenue for the quarter was up 47.5% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.25) EPS. On average, equities analysts predict that Alignment Healthcare, Inc. will post -0.69 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on ALHC. UBS Group boosted their price objective on Alignment Healthcare from $16.00 to $17.00 and gave the stock a "neutral" rating in a research note on Friday, May 2nd. Robert W. Baird raised their price objective on shares of Alignment Healthcare from $17.00 to $22.00 and gave the stock an "outperform" rating in a research note on Tuesday, April 15th. Stifel Nicolaus raised their price objective on shares of Alignment Healthcare from $18.00 to $23.00 and gave the stock a "buy" rating in a research note on Tuesday, April 8th. Finally, Stephens raised Alignment Healthcare to a "strong-buy" rating in a research note on Monday, June 2nd. One analyst has rated the stock with a sell rating, three have assigned a hold rating, six have given a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, Alignment Healthcare has an average rating of "Moderate Buy" and an average price target of $17.17.

Alignment Healthcare Profile

Alignment Healthcare, Inc, a tech-enabled Medicare advantage company, operates consumer-centric health care platform for seniors in the United States. It provides customized health care designed to meet the needs of a diverse array of seniors through its Medicare advantage plans. The company was founded in 2013 and is based in Orange, California.