Principal Financial Group Inc. Raises Holdings in Alignment Healthcare, Inc. $ALHC

Principal Financial Group Inc. increased its stake in shares of Alignment Healthcare, Inc. (NASDAQ:ALHC) by 40.1% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 167,376 shares of the company’s stock after acquiring an additional 47,895 shares during the quarter. Principal Financial Group Inc.’s holdings in Alignment Healthcare were worth $2,921,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Royal Bank of Canada boosted its stake in shares of Alignment Healthcare by 92.6% during the first quarter. Royal Bank of Canada now owns 92,379 shares of the company’s stock valued at $1,720,000 after purchasing an additional 44,413 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in Alignment Healthcare by 4.6% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 59,557 shares of the company’s stock valued at $1,109,000 after buying an additional 2,594 shares during the last quarter. Goldman Sachs Group Inc. boosted its position in Alignment Healthcare by 79.1% during the 1st quarter. Goldman Sachs Group Inc. now owns 972,715 shares of the company’s stock valued at $18,112,000 after buying an additional 429,703 shares during the period. Woodline Partners LP bought a new stake in Alignment Healthcare in the 1st quarter worth $2,142,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in Alignment Healthcare by 16.9% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 307,655 shares of the company’s stock worth $5,729,000 after acquiring an additional 44,452 shares during the last quarter. Institutional investors own 86.19% of the company’s stock.

Insiders Place Their Bets

In other Alignment Healthcare news, insider Robert L. Scavo sold 69,541 shares of the firm’s stock in a transaction on Monday, December 29th. The stock was sold at an average price of $18.74, for a total transaction of $1,303,198.34. Following the completion of the transaction, the insider owned 503,014 shares of the company’s stock, valued at approximately $9,426,482.36. This trade represents a 12.15% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, President Dawn Christine Maroney sold 282,070 shares of the company’s stock in a transaction dated Monday, December 29th. The stock was sold at an average price of $18.74, for a total transaction of $5,285,991.80. Following the completion of the sale, the president directly owned 1,385,167 shares in the company, valued at $25,958,029.58. This represents a 16.92% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 2,120,938 shares of company stock worth $41,655,670. 6.60% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the stock. Wall Street Zen raised shares of Alignment Healthcare from a “hold” rating to a “buy” rating in a research note on Saturday, February 7th. Barclays upped their price target on Alignment Healthcare from $13.00 to $18.00 and gave the company an “equal weight” rating in a research report on Friday, October 31st. JPMorgan Chase & Co. lifted their price objective on Alignment Healthcare from $23.00 to $26.00 and gave the stock an “overweight” rating in a research report on Thursday, February 5th. TD Cowen boosted their target price on Alignment Healthcare from $18.50 to $25.00 and gave the company a “buy” rating in a research note on Friday, January 16th. Finally, Zacks Research lowered Alignment Healthcare from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, October 28th. One equities research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Alignment Healthcare has a consensus rating of “Moderate Buy” and an average target price of $23.32.

Alignment Healthcare Stock Up 0.7%

ALHC stock opened at $20.19 on Tuesday. Alignment Healthcare, Inc. has a fifty-two week low of $11.63 and a fifty-two week high of $23.87. The company has a market capitalization of $4.04 billion, a price-to-earnings ratio of -168.25, a price-to-earnings-growth ratio of 5.14 and a beta of 1.16. The business’s 50 day moving average price is $20.92 and its two-hundred day moving average price is $18.18. The company has a debt-to-equity ratio of 1.99, a quick ratio of 1.61 and a current ratio of 1.61.

About Alignment Healthcare

Alignment Healthcare, Inc (NASDAQ: ALHC) is a health care company specializing in value-based care for Medicare Advantage beneficiaries. The company leverages an integrated care model that combines in-home clinical services, telehealth capabilities and digital health tools to manage chronic conditions, improve outcomes and enhance patient experience.

At the core of Alignment Healthcare’s approach is a proprietary technology platform that aggregates real-time clinical and claims data to support preventive care, risk stratification and personalized care plans.