Truist Financial Corp Has $35.64 Million Position in Molina Healthcare, Inc. (NYSE:MOH)

Truist Financial Corp raised its holdings in Molina Healthcare, Inc. (NYSE:MOH - Free Report) by 14.8% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 98,626 shares of the company's stock after purchasing an additional 12,728 shares during the period. Truist Financial Corp owned about 0.17% of Molina Healthcare worth $35,635,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in MOH. Wellington Management Group LLP grew its stake in Molina Healthcare by 8.3% in the third quarter. Wellington Management Group LLP now owns 3,395,040 shares of the company's stock worth $1,113,200,000 after purchasing an additional 259,474 shares in the last quarter. California Public Employees Retirement System increased its holdings in shares of Molina Healthcare by 53.0% in the 3rd quarter. California Public Employees Retirement System now owns 331,652 shares of the company's stock valued at $108,745,000 after acquiring an additional 114,890 shares during the last quarter. Invesco Ltd. raised its position in shares of Molina Healthcare by 10.4% during the 3rd quarter. Invesco Ltd. now owns 1,190,161 shares of the company's stock valued at $390,242,000 after acquiring an additional 112,243 shares in the last quarter. Lord Abbett & CO. LLC lifted its stake in Molina Healthcare by 28.5% during the third quarter. Lord Abbett & CO. LLC now owns 470,386 shares of the company's stock worth $154,234,000 after purchasing an additional 104,350 shares during the last quarter. Finally, Assenagon Asset Management S.A. boosted its holdings in Molina Healthcare by 4,019.2% in the fourth quarter. Assenagon Asset Management S.A. now owns 103,185 shares of the company's stock worth $37,282,000 after purchasing an additional 100,680 shares during the period. 98.50% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts have weighed in on MOH shares. Barclays dropped their target price on shares of Molina Healthcare from $437.00 to $430.00 and set an "equal weight" rating on the stock in a report on Thursday. Bank of America cut shares of Molina Healthcare from a "neutral" rating to an "underperform" rating and set a $439.00 target price on the stock. in a report on Thursday, March 28th. Stephens reaffirmed an "equal weight" rating and set a $390.00 target price on shares of Molina Healthcare in a report on Thursday. Wells Fargo & Company cut their price target on Molina Healthcare from $410.00 to $375.00 and set an "equal weight" rating on the stock in a report on Monday. Finally, Truist Financial upped their price objective on Molina Healthcare from $435.00 to $460.00 and gave the stock a "buy" rating in a research note on Tuesday, February 20th. One research analyst has rated the stock with a sell rating, four have given a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $397.20.

Insider Transactions at Molina Healthcare

In related news, CFO Mark Lowell Keim sold 15,000 shares of the firm's stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $386.56, for a total transaction of $5,798,400.00. Following the completion of the transaction, the chief financial officer now owns 36,531 shares of the company's stock, valued at $14,121,423.36. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, Director Richard M. Schapiro sold 1,000 shares of the stock in a transaction on Tuesday, February 20th. The stock was sold at an average price of $401.05, for a total transaction of $401,050.00. Following the completion of the sale, the director now owns 11,207 shares in the company, valued at approximately $4,494,567.35. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Mark Lowell Keim sold 15,000 shares of the business's stock in a transaction on Monday, February 12th. The stock was sold at an average price of $386.56, for a total value of $5,798,400.00. Following the sale, the chief financial officer now directly owns 36,531 shares in the company, valued at $14,121,423.36. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 16,711 shares of company stock valued at $6,472,517. Corporate insiders own 1.11% of the company's stock.

Molina Healthcare Stock Performance

Shares of NYSE MOH traded up $1.76 during midday trading on Monday, reaching $343.99. 311,320 shares of the company traded hands, compared to its average volume of 403,101. The company has a market cap of $20.16 billion, a price-to-earnings ratio of 18.66, a PEG ratio of 0.96 and a beta of 0.47. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.49 and a quick ratio of 1.49. The stock has a 50-day moving average price of $389.18 and a 200 day moving average price of $372.38. Molina Healthcare, Inc. has a 52 week low of $266.35 and a 52 week high of $423.92.

Molina Healthcare (NYSE:MOH - Get Free Report) last issued its quarterly earnings results on Wednesday, April 24th. The company reported $5.73 earnings per share for the quarter, topping analysts' consensus estimates of $5.46 by $0.27. Molina Healthcare had a net margin of 2.99% and a return on equity of 29.86%. The company had revenue of $9.93 billion during the quarter, compared to analyst estimates of $9.45 billion. During the same period in the prior year, the business posted $5.81 EPS. The business's revenue for the quarter was up 21.9% compared to the same quarter last year. Sell-side analysts anticipate that Molina Healthcare, Inc. will post 23.62 earnings per share for the current fiscal year.

About Molina Healthcare

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.