Principal Financial Group Inc. Has $53,000 Holdings in Clover Health Investments, Corp. $CLOV

Principal Financial Group Inc. lowered its position in shares of Clover Health Investments, Corp. (NASDAQ:CLOV) by 95.8% during the first quarter, Holdings Channel.com reports. The firm owned 30,122 shares of the company’s stock after selling 679,360 shares during the quarter. Principal Financial Group Inc.’s holdings in Clover Health Investments were worth $53,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Allworth Financial LP boosted its position in shares of Clover Health Investments by 218.9% in the third quarter. Allworth Financial LP now owns 9,509 shares of the company’s stock valued at $29,000 after acquiring an additional 6,527 shares during the period. Integrated Wealth Concepts LLC acquired a new stake in Clover Health Investments in the first quarter valued at about $37,000. Envestnet Asset Management Inc. bought a new position in Clover Health Investments in the second quarter valued at about $31,000. Abel Hall LLC acquired a new position in Clover Health Investments during the fourth quarter worth about $27,000. Finally, Quadrature Capital Ltd bought a new position in shares of Clover Health Investments in the fourth quarter worth about $29,000. 19.77% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Clover Health Investments news, CEO Brady Patrick Priest sold 98,039 shares of Clover Health Investments stock in a transaction dated Wednesday, May 13th. The stock was sold at an average price of $3.52, for a total transaction of $345,097.28. Following the transaction, the chief executive officer directly owned 2,040,222 shares of the company’s stock, valued at approximately $7,181,581.44. The trade was a 4.58% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Carladenise Armbrister Edwards sold 67,160 shares of the company’s stock in a transaction dated Monday, May 18th. The shares were sold at an average price of $3.42, for a total value of $229,687.20. Following the completion of the sale, the director owned 285,432 shares in the company, valued at $976,177.44. This trade represents a 19.05% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 715,884 shares of company stock valued at $3,202,372 over the last quarter. 23.51% of the stock is currently owned by company insiders.

Analyst Ratings Changes

CLOV has been the topic of a number of research analyst reports. Weiss Ratings restated a “sell (d-)” rating on shares of Clover Health Investments in a research note on Wednesday, June 24th. UBS Group increased their price objective on shares of Clover Health Investments from $2.75 to $4.75 and gave the company a “neutral” rating in a research note on Thursday, June 11th. Wall Street Zen upgraded shares of Clover Health Investments from a “hold” rating to a “buy” rating in a research report on Saturday, June 6th. Finally, Canaccord Genuity Group raised their price objective on Clover Health Investments from $4.20 to $5.50 and gave the company a “buy” rating in a report on Tuesday, July 21st. One investment analyst has rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $4.25.

Clover Health Investments Price Performance

NASDAQ:CLOV opened at $4.17 on Monday. The firm’s 50 day simple moving average is $4.58 and its 200 day simple moving average is $3.11. Clover Health Investments, Corp. has a one year low of $1.58 and a one year high of $5.59. The company has a market cap of $2.20 billion, a PE ratio of -34.75 and a beta of 2.41.

Clover Health Investments (NASDAQ:CLOV) last announced its quarterly earnings results on Wednesday, May 6th. The company reported $0.05 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.07 by ($0.02). The business had revenue of $749.19 million during the quarter, compared to analyst estimates of $714.89 million. Clover Health Investments had a negative net margin of 2.58% and a negative return on equity of 16.52%.

About Clover Health Investments

Clover Health Investments is a technology-driven healthcare company specializing in Medicare Advantage plans for senior populations. The company combines insurance coverage with a proprietary software platform to improve care coordination, outcomes tracking and cost management. By leveraging data analytics, Clover Health aims to deliver personalized care pathways and preventive interventions for its members.

At the core of Clover’s offering is its Clover Assistant platform, which aggregates clinical and claims data from multiple sources to create real-time insights for physicians and care teams.