Ameriprise Financial Inc. cut its stake in Molina Healthcare Inc (NYSE:MOH) by 9.1% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 575,795 shares of the company’s stock after selling 57,716 shares during the period. Ameriprise Financial Inc. owned about 1.01% of Molina Healthcare worth $39,834,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. LS Investment Advisors LLC grew its holdings in shares of Molina Healthcare by 40.9% in the second quarter. LS Investment Advisors LLC now owns 1,829 shares of the company’s stock worth $127,000 after purchasing an additional 531 shares during the last quarter. Meeder Asset Management Inc. bought a new position in shares of Molina Healthcare in the second quarter worth about $136,000. Meadow Creek Investment Management LLC grew its holdings in shares of Molina Healthcare by 13.2% in the first quarter. Meadow Creek Investment Management LLC now owns 2,408 shares of the company’s stock worth $110,000 after purchasing an additional 280 shares during the last quarter. Riverhead Capital Management LLC grew its holdings in shares of Molina Healthcare by 64.2% in the second quarter. Riverhead Capital Management LLC now owns 2,463 shares of the company’s stock worth $170,000 after purchasing an additional 963 shares during the last quarter. Finally, Bronfman E.L. Rothschild L.P. grew its holdings in shares of Molina Healthcare by 478.7% in the second quarter. Bronfman E.L. Rothschild L.P. now owns 3,316 shares of the company’s stock worth $229,000 after purchasing an additional 2,743 shares during the last quarter. Hedge funds and other institutional investors own 96.04% of the company’s stock.

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In other news, insider William Dentino sold 66,000 shares of the business’s stock in a transaction that occurred on Thursday, July 6th. The stock was sold at an average price of $68.68, for a total value of $4,532,880.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director John C. Molina sold 21,277 shares of the business’s stock in a transaction that occurred on Tuesday, July 18th. The shares were sold at an average price of $70.53, for a total value of $1,500,666.81. Following the completion of the transaction, the director now directly owns 611,154 shares in the company, valued at approximately $43,104,691.62. The disclosure for this sale can be found here. In the last three months, insiders sold 336,810 shares of company stock worth $21,856,708. Corporate insiders own 6.20% of the company’s stock.

Molina Healthcare Inc (NYSE:MOH) opened at 65.32 on Friday. The stock’s 50 day moving average is $62.22 and its 200 day moving average is $60.55. Molina Healthcare Inc has a 12-month low of $42.56 and a 12-month high of $72.79. The firm’s market cap is $3.73 billion.

Molina Healthcare (NYSE:MOH) last issued its quarterly earnings data on Wednesday, August 2nd. The company reported ($0.01) earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.86 by ($0.87). Molina Healthcare had a negative net margin of 1.07% and a positive return on equity of 16.10%. The firm had revenue of $5 billion during the quarter, compared to analysts’ expectations of $4.88 billion. During the same quarter in the prior year, the firm posted $0.67 EPS. Molina Healthcare’s quarterly revenue was up 14.7% compared to the same quarter last year. On average, equities research analysts expect that Molina Healthcare Inc will post ($2.70) EPS for the current year.

A number of research analysts have recently commented on the stock. Mitsubishi UFJ Financial Group assumed coverage on shares of Molina Healthcare in a report on Thursday. They issued a “neutral” rating and a $70.00 price target on the stock. Morgan Stanley raised shares of Molina Healthcare from an “underweight” rating to an “overweight” rating and upped their price objective for the stock from $65.00 to $68.00 in a research note on Thursday, August 17th. TheStreet lowered shares of Molina Healthcare from a “b” rating to a “c” rating in a research note on Monday, August 7th. Deutsche Bank AG reaffirmed a “hold” rating and issued a $72.00 price objective on shares of Molina Healthcare in a research note on Wednesday, August 9th. Finally, BidaskClub lowered shares of Molina Healthcare from a “buy” rating to a “hold” rating in a research note on Friday, August 4th. Four research analysts have rated the stock with a sell rating, nine have given a hold rating and four have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of $62.90.

Molina Healthcare Company Profile

Molina Healthcare, Inc offers Medicaid-related solutions for low-income families and individuals, and assists government agencies in their administration of the Medicaid program. The Company operates through three segments: Health Plans, Molina Medicaid Solutions and Other, which includes its Pathways Health and Community Support LLC (Pathways) business.

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Institutional Ownership by Quarter for Molina Healthcare (NYSE:MOH)

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