Principal Financial Group Inc. Sells 94,825 Shares of Alignment Healthcare, Inc. (NASDAQ:ALHC)

Principal Financial Group Inc. reduced its stake in shares of Alignment Healthcare, Inc. (NASDAQ:ALHC - Free Report) by 50.2% during the 1st quarter, according to its most recent 13F filing with the SEC. 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 reporting period.

Other institutional investors also recently made changes to their positions in the company. Amalgamated Bank raised its holdings in Alignment Healthcare by 21.6% in the first quarter. Amalgamated Bank now owns 3,466 shares of the company's stock valued at $65,000 after buying an additional 616 shares during the period. RiverPark Advisors LLC purchased a new position in Alignment Healthcare in the 4th quarter valued at about $106,000. Tower Research Capital LLC TRC increased its stake in shares of Alignment Healthcare by 146.7% in the fourth quarter. Tower Research Capital LLC TRC now owns 10,571 shares of the company's stock worth $119,000 after buying an additional 6,286 shares during the last quarter. Dark Forest Capital Management LP acquired a new stake in Alignment Healthcare in the fourth quarter valued at $150,000. Finally, TME Financial Inc. acquired a new stake in Alignment Healthcare in the fourth quarter valued at $175,000. 86.19% of the stock is currently owned by hedge funds and other institutional investors.

Alignment Healthcare Stock Up 0.5%

Shares of Alignment Healthcare stock traded up $0.06 on Wednesday, hitting $12.40. The company had a trading volume of 2,489,982 shares, compared to its average volume of 2,269,998. The firm has a market capitalization of $2.45 billion, a P/E ratio of -25.83 and a beta of 1.16. Alignment Healthcare, Inc. has a twelve month low of $7.92 and a twelve month high of $21.06. 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 stock has a 50-day moving average of $14.29 and a 200-day moving average of $15.32.

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

Analyst Ratings Changes

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

Insiders Place Their Bets

In other news, Director Atlantic (Aln Hlth) L. General sold 17,000,000 shares of the firm's stock in a transaction on Monday, May 19th. The stock was sold at an average price of $15.28, for a total transaction of $259,760,000.00. Following the completion of the sale, the director directly owned 44,302,175 shares of the company's stock, valued at $676,937,234. This trade represents a 27.73% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Robert L. Scavo sold 60,000 shares of Alignment Healthcare stock in a transaction dated Tuesday, June 10th. The shares were sold at an average price of $14.60, for a total value of $876,000.00. Following the transaction, the insider directly owned 642,953 shares of the company's stock, valued at $9,387,113.80. The trade was a 8.54% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 17,685,262 shares of company stock valued at $269,685,496 over the last 90 days. 7.00% of the stock is currently owned by corporate insiders.

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.