Corebridge Financial Inc. Decreases Position in Molina Healthcare, Inc. (NYSE:MOH)

Corebridge Financial Inc. decreased its position in Molina Healthcare, Inc. (NYSE:MOH) by 19.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 13,951 shares of the company’s stock after selling 3,408 shares during the period. Corebridge Financial Inc.’s holdings in Molina Healthcare were worth $4,060,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. True Wealth Design LLC lifted its position in shares of Molina Healthcare by 2,500.0% during the 3rd quarter. True Wealth Design LLC now owns 104 shares of the company’s stock valued at $36,000 after buying an additional 100 shares during the last quarter. Versant Capital Management Inc lifted its holdings in Molina Healthcare by 83.1% during the fourth quarter. Versant Capital Management Inc now owns 163 shares of the company’s stock valued at $47,000 after purchasing an additional 74 shares during the last quarter. Wingate Wealth Advisors Inc. bought a new position in Molina Healthcare during the fourth quarter worth about $52,000. EverSource Wealth Advisors LLC boosted its position in Molina Healthcare by 81.5% during the fourth quarter. EverSource Wealth Advisors LLC now owns 196 shares of the company’s stock worth $57,000 after purchasing an additional 88 shares during the period. Finally, Harvest Fund Management Co. Ltd raised its position in shares of Molina Healthcare by 895.0% in the fourth quarter. Harvest Fund Management Co. Ltd now owns 199 shares of the company’s stock valued at $58,000 after purchasing an additional 179 shares during the period. 98.50% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the stock. StockNews.com raised shares of Molina Healthcare from a “hold” rating to a “buy” rating in a report on Wednesday, March 26th. Truist Financial cut their price target on Molina Healthcare from $370.00 to $340.00 and set a “buy” rating for the company in a report on Wednesday, February 19th. Stephens reiterated an “equal weight” rating and issued a $345.00 price target on shares of Molina Healthcare in a research report on Thursday, February 6th. JPMorgan Chase & Co. reissued a “neutral” rating and set a $350.00 price objective (down previously from $378.00) on shares of Molina Healthcare in a report on Tuesday, December 17th. Finally, UBS Group reduced their target price on Molina Healthcare from $374.00 to $325.00 and set a “neutral” rating for the company in a report on Friday, February 7th. Six analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $348.75.

Insider Activity

In related news, Director Steven J. Orlando sold 1,000 shares of the business’s stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $301.33, for a total value of $301,330.00. Following the completion of the sale, the director now owns 17,375 shares in the company, valued at $5,235,608.75. The trade was a 5.44 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 1.10% of the company’s stock.

Molina Healthcare Trading Down 0.2 %

Shares of Molina Healthcare stock opened at $322.78 on Monday. The company has a 50 day simple moving average of $302.98 and a two-hundred day simple moving average of $309.01. The firm has a market cap of $17.66 billion, a PE ratio of 15.80, a PEG ratio of 1.06 and a beta of 0.56. Molina Healthcare, Inc. has a 1 year low of $262.32 and a 1 year high of $409.07. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.62 and a quick ratio of 1.62.

Molina Healthcare (NYSE:MOH) last announced its earnings results on Wednesday, February 5th. The company reported $5.05 earnings per share (EPS) for the quarter, missing the consensus estimate of $5.74 by ($0.69). Molina Healthcare had a return on equity of 28.13% and a net margin of 2.90%. Analysts expect that Molina Healthcare, Inc. will post 24.4 earnings per share for the current fiscal year.

About Molina Healthcare

Molina Healthcare, Inc provides managed healthcare services to low-income families and individuals under the Medicaid and Medicare programs and through the state insurance marketplaces. It operates in four segments: Medicaid, Medicare, Marketplace, and Other. The company served in across 19 states. The company was founded in 1980 and is headquartered in Long Beach, California.