US Bancorp DE Has $1.11 Million Stake in Alignment Healthcare, Inc. (NASDAQ:ALHC)

US Bancorp DE lifted its position in shares of Alignment Healthcare, Inc. (NASDAQ:ALHC - Free Report) by 6,544.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 98,932 shares of the company's stock after acquiring an additional 97,443 shares during the quarter. US Bancorp DE owned 0.05% of Alignment Healthcare worth $1,113,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the business. Allspring Global Investments Holdings LLC boosted its position in Alignment Healthcare by 1,672.5% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 656,637 shares of the company's stock valued at $7,591,000 after buying an additional 619,592 shares during the last quarter. Royce & Associates LP acquired a new stake in Alignment Healthcare during the 3rd quarter valued at approximately $3,782,000. JPMorgan Chase & Co. increased its holdings in Alignment Healthcare by 249.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 288,219 shares of the company's stock worth $3,407,000 after purchasing an additional 205,705 shares during the last quarter. Principal Financial Group Inc. raised its position in shares of Alignment Healthcare by 1,335.1% in the 3rd quarter. Principal Financial Group Inc. now owns 194,043 shares of the company's stock valued at $2,294,000 after purchasing an additional 180,522 shares in the last quarter. Finally, Barclays PLC grew its position in shares of Alignment Healthcare by 144.1% during the third quarter. Barclays PLC now owns 193,446 shares of the company's stock worth $2,287,000 after buying an additional 114,191 shares in the last quarter. 86.19% of the stock is currently owned by hedge funds and other institutional investors.

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Alignment Healthcare Price Performance

Shares of NASDAQ:ALHC traded up $0.60 on Tuesday, reaching $15.62. 955,042 shares of the company traded hands, compared to its average volume of 2,055,361. The company's 50 day moving average is $14.05 and its 200-day moving average is $12.28. The stock has a market capitalization of $3.00 billion, a PE ratio of -20.31 and a beta of 1.49. Alignment Healthcare, Inc. has a fifty-two week low of $4.46 and a fifty-two week high of $16.25. The company has a debt-to-equity ratio of 1.82, a current ratio of 1.60 and a quick ratio of 1.60.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on ALHC. Piper Sandler increased their price target on Alignment Healthcare from $14.00 to $21.00 and gave the stock an "overweight" rating in a research report on Tuesday, March 4th. Stephens reaffirmed an "overweight" rating and issued a $17.00 price objective on shares of Alignment Healthcare in a report on Monday, February 24th. JPMorgan Chase & Co. boosted their target price on shares of Alignment Healthcare from $14.00 to $17.00 and gave the company a "neutral" rating in a research note on Thursday, March 6th. Bank of America raised their price target on shares of Alignment Healthcare from $15.50 to $18.50 and gave the company a "buy" rating in a research note on Tuesday, March 4th. Finally, Stifel Nicolaus boosted their price objective on Alignment Healthcare from $16.00 to $18.00 and gave the stock a "buy" rating in a research report on Friday, February 28th. One research analyst has rated the stock with a sell rating, three have issued a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $14.83.

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 Wednesday, January 15th. The stock was sold at an average price of $13.61, for a total transaction of $408,300.00. Following the transaction, the president now owns 1,606,097 shares of the company's stock, valued at approximately $21,858,980.17. This represents a 1.83 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO John E. Kao sold 90,000 shares of the business's stock in a transaction on Wednesday, December 11th. The stock was sold at an average price of $11.65, for a total transaction of $1,048,500.00. Following the transaction, the chief executive officer now directly owns 2,363,100 shares of the company's stock, valued at approximately $27,530,115. This represents a 3.67 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 1,752,206 shares of company stock valued at $26,394,354 in the last three months. 6.60% of the stock is currently owned by company insiders.

Alignment Healthcare Company Profile

Alignment Healthcare, Inc, a tech-enabled Medicare advantage company, operates consumer-centric health care platform for seniors in the United States. It provides customized health care designed to meet the needs of a diverse array of seniors through its Medicare advantage plans. The company was founded in 2013 and is based in Orange, California.