Allianz Asset Management GmbH Buys Shares of 307,540 Clover Health Investments, Corp. $CLOV

Allianz Asset Management GmbH bought a new stake in Clover Health Investments, Corp. (NASDAQ:CLOV) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 307,540 shares of the company’s stock, valued at approximately $858,000. Allianz Asset Management GmbH owned about 0.06% of Clover Health Investments as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently bought and sold shares of the company. Blair William & Co. IL grew its holdings in Clover Health Investments by 94.3% in the second quarter. Blair William & Co. IL now owns 51,500 shares of the company’s stock valued at $144,000 after purchasing an additional 25,000 shares during the last quarter. Consolidated Portfolio Review Corp acquired a new stake in shares of Clover Health Investments during the second quarter valued at $105,000. Janney Montgomery Scott LLC boosted its stake in shares of Clover Health Investments by 21.7% during the second quarter. Janney Montgomery Scott LLC now owns 24,860 shares of the company’s stock valued at $69,000 after acquiring an additional 4,426 shares during the last quarter. Fifth Third Bancorp acquired a new stake in shares of Clover Health Investments during the second quarter valued at $28,000. Finally, Palacios Wealth Management LLC boosted its stake in shares of Clover Health Investments by 21.6% during the second quarter. Palacios Wealth Management LLC now owns 50,624 shares of the company’s stock valued at $141,000 after acquiring an additional 9,000 shares during the last quarter. Institutional investors and hedge funds own 19.77% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently commented on CLOV shares. Canaccord Genuity Group decreased their price objective on Clover Health Investments from $4.50 to $4.10 and set a “buy” rating on the stock in a research note on Thursday, August 7th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Clover Health Investments in a research note on Friday. UBS Group reduced their target price on Clover Health Investments from $4.50 to $3.00 and set a “neutral” rating on the stock in a research report on Wednesday, August 6th. Finally, Leerink Partners set a $3.00 target price on Clover Health Investments and gave the stock a “market perform” rating in a research report on Tuesday, October 21st. Two analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Clover Health Investments presently has a consensus rating of “Hold” and a consensus price target of $4.03.

Clover Health Investments Price Performance

Clover Health Investments stock opened at $3.82 on Monday. The stock’s 50-day moving average is $2.86 and its 200-day moving average is $3.02. The company has a market cap of $1.96 billion, a price-to-earnings ratio of -47.75 and a beta of 2.10. Clover Health Investments, Corp. has a 12 month low of $2.12 and a 12 month high of $4.87.

Insider Activity at Clover Health Investments

In other news, Director Anna U. Loengard acquired 26,500 shares of the business’s stock in a transaction dated Wednesday, August 13th. The shares were bought at an average cost of $2.59 per share, for a total transaction of $68,635.00. Following the acquisition, the director directly owned 29,610 shares in the company, valued at $76,689.90. This trade represents a 852.09% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 24.07% of the stock is currently owned by company insiders.

Clover Health Investments Profile

Clover Health Investments, Corp. provides medicare advantage plans in the United States. It operates through two segments: Insurance and Non-Insurance. It also offers Clover Assistant, a cloud-based software platform, that enables physicians to detect, identify, and manage chronic diseases earlier; and access to data-driven and personalized insights for the patients they treat.