Principal Financial Group Inc. Buys 456,715 Shares of Clover Health Investments, Corp. $CLOV

Principal Financial Group Inc. raised its stake in Clover Health Investments, Corp. (NASDAQ:CLOV) by 1,590.3% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 485,433 shares of the company’s stock after acquiring an additional 456,715 shares during the quarter. Principal Financial Group Inc.’s holdings in Clover Health Investments were worth $1,485,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently modified their holdings of the stock. Geode Capital Management LLC lifted its stake in Clover Health Investments by 95.7% in the second quarter. Geode Capital Management LLC now owns 9,843,349 shares of the company’s stock valued at $27,467,000 after purchasing an additional 4,812,368 shares during the last quarter. Bank of America Corp DE grew its stake in shares of Clover Health Investments by 217.5% during the 2nd quarter. Bank of America Corp DE now owns 4,012,744 shares of the company’s stock worth $11,196,000 after acquiring an additional 2,748,783 shares during the period. First Trust Advisors LP purchased a new stake in Clover Health Investments in the 2nd quarter worth about $4,149,000. Connor Clark & Lunn Investment Management Ltd. raised its stake in Clover Health Investments by 11.2% in the 2nd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 954,848 shares of the company’s stock valued at $2,664,000 after acquiring an additional 95,811 shares during the period. Finally, Jupiter Asset Management Ltd. raised its stake in Clover Health Investments by 575.9% in the 2nd quarter. Jupiter Asset Management Ltd. now owns 939,590 shares of the company’s stock valued at $2,621,000 after acquiring an additional 800,581 shares during the period. Hedge funds and other institutional investors own 19.77% of the company’s stock.

Clover Health Investments Price Performance

CLOV opened at $2.04 on Wednesday. The firm has a market capitalization of $1.05 billion, a P/E ratio of -18.55 and a beta of 2.09. Clover Health Investments, Corp. has a one year low of $2.01 and a one year high of $4.80. The company has a fifty day moving average price of $2.43 and a 200-day moving average price of $2.66.

Analyst Ratings Changes

A number of equities analysts have weighed in on CLOV shares. Canaccord Genuity Group reiterated a “buy” rating and set a $3.70 target price on shares of Clover Health Investments in a research report on Tuesday, January 20th. Wall Street Zen raised shares of Clover Health Investments from a “sell” rating to a “hold” rating in a report on Sunday. Leerink Partners set a $3.00 price objective on shares of Clover Health Investments and gave the company a “market perform” rating in a research note on Tuesday, October 21st. Zacks Research downgraded Clover Health Investments from a “strong-buy” rating to a “hold” rating in a research report on Monday, November 24th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Clover Health Investments in a report on Monday, December 29th. One equities research analyst has rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $3.23.

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.