Allspring Global Investments Holdings LLC Decreases Stock Position in Molina Healthcare, Inc. (NYSE:MOH)

Allspring Global Investments Holdings LLC cut its position in Molina Healthcare, Inc. (NYSE:MOH) by 14.0% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 26,987 shares of the company’s stock after selling 4,401 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Molina Healthcare were worth $9,751,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in MOH. Raymond James Financial Services Advisors Inc. boosted its stake in shares of Molina Healthcare by 5.7% in the first quarter. Raymond James Financial Services Advisors Inc. now owns 1,651 shares of the company’s stock valued at $551,000 after purchasing an additional 89 shares during the period. Allianz Asset Management GmbH boosted its stake in shares of Molina Healthcare by 496.1% in the first quarter. Allianz Asset Management GmbH now owns 11,534 shares of the company’s stock valued at $3,848,000 after purchasing an additional 9,599 shares during the period. Prudential PLC purchased a new position in shares of Molina Healthcare in the first quarter valued at $422,000. Cetera Investment Advisers boosted its stake in shares of Molina Healthcare by 10.1% in the first quarter. Cetera Investment Advisers now owns 1,296 shares of the company’s stock valued at $432,000 after purchasing an additional 119 shares during the period. Finally, Mackay Shields LLC purchased a new position in shares of Molina Healthcare in the first quarter valued at $2,814,000. 98.50% of the stock is currently owned by hedge funds and other institutional investors.

Molina Healthcare Stock Down 1.0 %

Shares of NYSE:MOH opened at $357.41 on Wednesday. The stock has a market capitalization of $20.94 billion, a price-to-earnings ratio of 19.03, a price-to-earnings-growth ratio of 1.06 and a beta of 0.47. Molina Healthcare, Inc. has a 1-year low of $266.35 and a 1-year high of $423.92. The company’s fifty day moving average is $395.21 and its two-hundred day moving average is $370.85. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.54 and a current ratio of 1.54.

Molina Healthcare (NYSE:MOH) last issued its earnings results on Wednesday, February 7th. The company reported $4.38 earnings per share for the quarter, topping analysts’ consensus estimates of $4.31 by $0.07. The company had revenue of $9.05 billion for the quarter, compared to analysts’ expectations of $8.35 billion. Molina Healthcare had a net margin of 3.20% and a return on equity of 32.34%. The firm’s revenue was up 10.0% compared to the same quarter last year. During the same period in the prior year, the company earned $4.10 earnings per share. Equities analysts anticipate that Molina Healthcare, Inc. will post 23.62 EPS for the current year.

Insider Buying and Selling

In related news, CFO Mark Lowell Keim sold 15,000 shares of the stock in a transaction dated Monday, February 12th. The shares were 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 owns 36,531 shares of the company’s stock, valued at approximately $14,121,423.36. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In related news, CFO Mark Lowell Keim sold 15,000 shares of the stock in a transaction dated Monday, February 12th. The shares were 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 owns 36,531 shares of the company’s stock, valued at approximately $14,121,423.36. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Richard M. Schapiro sold 1,000 shares of the stock in a transaction dated 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 directly owns 11,207 shares in the company, valued at approximately $4,494,567.35. The disclosure for this sale can be found here. Insiders have sold a total of 16,711 shares of company stock valued at $6,472,517 in the last quarter. Company insiders own 1.11% of the company’s stock.

Analysts Set New Price Targets

MOH has been the topic of several recent analyst reports. Barclays initiated coverage on shares of Molina Healthcare in a report on Wednesday, March 6th. They issued an “equal weight” rating and a $437.00 price target on the stock. UBS Group upped their price target on shares of Molina Healthcare from $350.00 to $380.00 and gave the company a “neutral” rating in a report on Thursday, December 21st. Wells Fargo & Company cut their price target on shares of Molina Healthcare from $440.00 to $410.00 and set an “equal weight” rating on the stock in a report on Monday. Bank of America cut shares of Molina Healthcare from a “neutral” rating to an “underperform” rating and set a $439.00 price target on the stock. in a report on Thursday, March 28th. Finally, Truist Financial upped their price target on shares of Molina Healthcare from $435.00 to $460.00 and gave the company a “buy” rating in a report on Tuesday, February 20th. One analyst has rated the stock with a sell rating, four have given a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $393.09.

Molina Healthcare Profile

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.