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

Principal Financial Group Inc. increased its stake in shares of Alignment Healthcare, Inc. (NASDAQ:ALHC) by 40.1% in the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 167,376 shares of the company’s stock after buying an additional 47,895 shares during the period. Principal Financial Group Inc. owned about 0.08% of Alignment Healthcare worth $2,921,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in the stock. SBI Securities Co. Ltd. lifted its stake in Alignment Healthcare by 4,868.9% in the second quarter. SBI Securities Co. Ltd. now owns 3,031 shares of the company’s stock valued at $42,000 after purchasing an additional 2,970 shares during the last quarter. KBC Group NV bought a new position in shares of Alignment Healthcare during the 2nd quarter worth $44,000. Wilmington Savings Fund Society FSB purchased a new stake in Alignment Healthcare in the 3rd quarter worth about $53,000. Ameritas Investment Partners Inc. raised its stake in Alignment Healthcare by 32.9% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 13,031 shares of the company’s stock valued at $182,000 after acquiring an additional 3,225 shares during the period. Finally, State of Alaska Department of Revenue purchased a new stake in Alignment Healthcare during the third quarter valued at about $186,000. Institutional investors own 86.19% of the company’s stock.

Insider Buying and Selling at Alignment Healthcare

In other news, President Dawn Christine Maroney sold 30,000 shares of the stock in a transaction dated Thursday, January 15th. The stock was sold at an average price of $22.48, for a total transaction of $674,400.00. Following the transaction, the president directly owned 1,027,015 shares in the company, valued at approximately $23,087,297.20. This represents a 2.84% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Andreas P. Wagner sold 22,238 shares of the firm’s stock in a transaction dated Tuesday, February 10th. The shares were sold at an average price of $20.47, for a total value of $455,211.86. Following the transaction, the insider directly owned 169,805 shares in the company, valued at approximately $3,475,908.35. This represents a 11.58% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 2,120,938 shares of company stock valued at $41,655,670. 6.60% of the stock is currently owned by company insiders.

Alignment Healthcare Trading Up 0.7%

Shares of ALHC opened at $20.19 on Tuesday. Alignment Healthcare, Inc. has a 1-year low of $11.63 and a 1-year high of $23.87. The company has a market capitalization of $4.04 billion, a P/E ratio of -168.25, a P/E/G ratio of 5.14 and a beta of 1.16. The company has a debt-to-equity ratio of 1.99, a current ratio of 1.61 and a quick ratio of 1.61. The firm’s 50 day simple moving average is $20.92 and its 200 day simple moving average is $18.18.

Analysts Set New Price Targets

ALHC has been the subject of several analyst reports. KeyCorp reaffirmed an “overweight” rating and issued a $28.00 price objective on shares of Alignment Healthcare in a report on Thursday, January 22nd. Zacks Research lowered Alignment Healthcare from a “strong-buy” rating to a “hold” rating in a report on Tuesday, October 28th. UBS Group boosted their price objective on Alignment Healthcare from $18.00 to $21.00 and gave the company a “neutral” rating in a research note on Wednesday, January 14th. Piper Sandler raised their target price on Alignment Healthcare from $20.00 to $30.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 6th. Finally, Robert W. Baird set a $28.00 target price on Alignment Healthcare in a report on Friday, January 30th. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $23.32.

Alignment Healthcare Profile

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.