Legal & General Group Plc Makes New Investment in Alignment Healthcare, Inc. $ALHC

Legal & General Group Plc purchased a new stake in shares of Alignment Healthcare, Inc. (NASDAQ:ALHC) in the 2nd quarter, HoldingsChannel reports. The firm purchased 405,882 shares of the company’s stock, valued at approximately $9,664,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Vanguard Group Inc. increased its holdings in shares of Alignment Healthcare by 10.9% in the fourth quarter. Vanguard Group Inc. now owns 15,492,802 shares of the company’s stock worth $305,983,000 after buying an additional 1,524,218 shares during the period. Wellington Management Group LLP boosted its holdings in Alignment Healthcare by 26.9% during the 4th quarter. Wellington Management Group LLP now owns 14,070,893 shares of the company’s stock valued at $277,900,000 after acquiring an additional 2,981,166 shares during the period. T. Rowe Price Investment Management Inc. grew its position in Alignment Healthcare by 0.6% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 12,643,784 shares of the company’s stock worth $249,715,000 after acquiring an additional 79,268 shares during the last quarter. William Blair Investment Management LLC purchased a new position in Alignment Healthcare in the 2nd quarter worth approximately $184,799,000. Finally, Invesco Ltd. increased its stake in Alignment Healthcare by 38.9% in the 4th quarter. Invesco Ltd. now owns 6,202,592 shares of the company’s stock worth $122,501,000 after purchasing an additional 1,735,962 shares during the period. 86.19% of the stock is owned by institutional investors.

Alignment Healthcare Trading Up 1.4%

NASDAQ ALHC opened at $13.59 on Wednesday. Alignment Healthcare, Inc. has a fifty-two week low of $12.70 and a fifty-two week high of $25.12. The company has a debt-to-equity ratio of 1.22, a quick ratio of 1.70 and a current ratio of 1.70. The stock has a 50 day simple moving average of $17.77 and a two-hundred day simple moving average of $18.42. The stock has a market cap of $2.82 billion, a P/E ratio of 71.53 and a beta of 1.11.

Alignment Healthcare (NASDAQ:ALHC) last posted its earnings results on Thursday, July 30th. The company reported $0.17 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.13 by $0.04. The firm had revenue of $1.34 billion for the quarter, compared to analysts’ expectations of $1.31 billion. Alignment Healthcare had a return on equity of 20.02% and a net margin of 0.89%.The business’s revenue was up 31.6% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.07 earnings per share. On average, analysts forecast that Alignment Healthcare, Inc. will post 0.17 earnings per share for the current year.

Insider Activity at Alignment Healthcare

In related news, President Dawn Christine Maroney sold 30,000 shares of Alignment Healthcare stock in a transaction on Monday, June 15th. The shares were sold at an average price of $19.55, for a total value of $586,500.00. Following the sale, the president owned 947,313 shares in the company, valued at $18,519,969.15. The trade was a 3.07% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO John E. Kao sold 298,000 shares of the company’s stock in a transaction on Monday, August 10th. The stock was sold at an average price of $13.88, for a total transaction of $4,136,240.00. Following the completion of the transaction, the chief executive officer owned 790,766 shares of the company’s stock, valued at $10,975,832.08. This trade represents a 27.37% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders have sold 1,009,951 shares of company stock worth $18,597,287. 5.20% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on ALHC. Weiss Ratings reissued a “hold (c-)” rating on shares of Alignment Healthcare in a research note on Tuesday, August 4th. KeyCorp reiterated an “overweight” rating on shares of Alignment Healthcare in a report on Wednesday, June 10th. JPMorgan Chase & Co. lowered their price target on shares of Alignment Healthcare from $26.00 to $22.00 and set an “overweight” rating for the company in a report on Tuesday, August 4th. UBS Group reissued a “neutral” rating on shares of Alignment Healthcare in a research report on Wednesday, July 8th. Finally, Wall Street Zen cut shares of Alignment Healthcare from a “buy” rating to a “hold” rating in a research report on Saturday, August 1st. Seven research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $23.60.

Alignment Healthcare Company 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.