PNC Financial Services Group Inc. Trims Position in Clover Health Investments, Corp. (NASDAQ:CLOV)

PNC Financial Services Group Inc. lessened its stake in shares of Clover Health Investments, Corp. (NASDAQ:CLOV - Free Report) by 4.0% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 4,810,668 shares of the company's stock after selling 199,998 shares during the period. PNC Financial Services Group Inc. owned 0.97% of Clover Health Investments worth $13,566,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently made changes to their positions in the company. Concurrent Investment Advisors LLC bought a new stake in Clover Health Investments in the third quarter worth $28,000. Sigma Planning Corp purchased a new position in Clover Health Investments in the third quarter worth about $29,000. Viewpoint Capital Management LLC increased its stake in Clover Health Investments by 96.8% during the second quarter. Viewpoint Capital Management LLC now owns 30,500 shares of the company's stock worth $38,000 after acquiring an additional 15,000 shares during the last quarter. Jaffetilchin Investment Partners LLC raised its position in Clover Health Investments by 30.2% during the first quarter. Jaffetilchin Investment Partners LLC now owns 49,741 shares of the company's stock valued at $39,000 after purchasing an additional 11,550 shares during the period. Finally, Vanguard Personalized Indexing Management LLC lifted its stake in shares of Clover Health Investments by 54.4% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 34,372 shares of the company's stock valued at $42,000 after purchasing an additional 12,104 shares during the last quarter. Hedge funds and other institutional investors own 19.77% of the company's stock.

Clover Health Investments Price Performance

Shares of CLOV traded up $0.01 during midday trading on Friday, hitting $3.37. The stock had a trading volume of 3,999,919 shares, compared to its average volume of 7,511,023. The stock's 50 day moving average is $3.59 and its 200 day moving average is $2.36. The firm has a market cap of $1.69 billion, a PE ratio of -16.85 and a beta of 2.03. Clover Health Investments, Corp. has a 1 year low of $0.61 and a 1 year high of $4.71.

Clover Health Investments (NASDAQ:CLOV - Get Free Report) last posted its quarterly earnings data on Wednesday, November 6th. The company reported ($0.02) earnings per share for the quarter, topping analysts' consensus estimates of ($0.03) by $0.01. Clover Health Investments had a negative net margin of 5.92% and a negative return on equity of 25.46%. The company had revenue of $330.99 million for the quarter, compared to analyst estimates of $347.60 million. During the same period in the prior year, the company posted ($0.09) EPS. As a group, equities research analysts expect that Clover Health Investments, Corp. will post -0.12 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Separately, UBS Group assumed coverage on Clover Health Investments in a report on Monday, October 7th. They set a "neutral" rating and a $4.00 price target on the stock.

Clover Health Investments Profile

Clover Health Investments, Corp. provides medicare advantage plans in the United States. It operates through two segments: Insurance and Non-Insurance. It also offers Clover Assistant, a cloud-based software platform, that enables physicians to detect, identify, and manage chronic diseases earlier; and access to data-driven and personalized insights for the patients they treat.