Principal Financial Group Inc. Buys 5,073 Shares of Evolent Health, Inc. (NYSE:EVH)

Principal Financial Group Inc. lifted its stake in Evolent Health, Inc. (NYSE:EVH) by 8.8% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 62,455 shares of the technology company’s stock after acquiring an additional 5,073 shares during the period. Principal Financial Group Inc.’s holdings in Evolent Health were worth $703,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. R Squared Ltd acquired a new position in Evolent Health during the fourth quarter valued at approximately $31,000. Covestor Ltd boosted its holdings in shares of Evolent Health by 138.1% during the 3rd quarter. Covestor Ltd now owns 1,424 shares of the technology company’s stock worth $40,000 after buying an additional 826 shares during the period. KBC Group NV grew its stake in Evolent Health by 124.6% in the 4th quarter. KBC Group NV now owns 6,741 shares of the technology company’s stock valued at $76,000 after buying an additional 3,739 shares during the last quarter. Dynamic Advisor Solutions LLC bought a new position in Evolent Health in the 4th quarter worth $134,000. Finally, Chicago Partners Investment Group LLC lifted its position in Evolent Health by 50.0% during the 4th quarter. Chicago Partners Investment Group LLC now owns 13,643 shares of the technology company’s stock worth $153,000 after acquiring an additional 4,547 shares during the last quarter.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on EVH shares. JMP Securities reaffirmed a “market outperform” rating and issued a $12.00 price target on shares of Evolent Health in a research report on Friday, February 14th. JPMorgan Chase & Co. lowered their target price on Evolent Health from $15.00 to $13.00 and set an “overweight” rating on the stock in a report on Tuesday, January 28th. Barclays cut their price target on Evolent Health from $39.00 to $19.00 and set an “overweight” rating for the company in a report on Monday, November 11th. Truist Financial reduced their price objective on Evolent Health from $20.00 to $15.00 and set a “buy” rating for the company in a research report on Wednesday, January 22nd. Finally, Citigroup dropped their target price on shares of Evolent Health from $21.00 to $18.00 and set a “buy” rating on the stock in a research report on Friday, January 10th. One equities research analyst has rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Evolent Health currently has a consensus rating of “Buy” and an average target price of $17.79.

Insider Buying and Selling

In other news, Director Brendan B. Springstubb bought 5,000 shares of the company’s stock in a transaction that occurred on Tuesday, March 4th. The stock was acquired at an average price of $8.75 per share, for a total transaction of $43,750.00. Following the transaction, the director now directly owns 11,842 shares of the company’s stock, valued at $103,617.50. This trade represents a 73.08 % increase in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. 1.60% of the stock is owned by corporate insiders.

Evolent Health Stock Up 6.6 %

EVH opened at $9.32 on Friday. Evolent Health, Inc. has a fifty-two week low of $8.35 and a fifty-two week high of $34.84. The company has a market capitalization of $1.09 billion, a P/E ratio of -11.36 and a beta of 1.45. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.04 and a quick ratio of 1.04. The firm’s fifty day moving average price is $10.45 and its two-hundred day moving average price is $17.94.

Evolent Health (NYSE:EVH) last posted its quarterly earnings results on Thursday, February 20th. The technology company reported $0.03 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.38 by ($0.35). The business had revenue of $646.54 million during the quarter, compared to analyst estimates of $650.92 million. Evolent Health had a positive return on equity of 5.73% and a negative net margin of 2.41%. On average, analysts anticipate that Evolent Health, Inc. will post 0.08 EPS for the current year.

About Evolent Health

Evolent Health, Inc, through its subsidiary, Evolent Health LLC, offers specialty care management services in oncology, cardiology, and musculoskeletal markets in the United States. The company provides platform for health plan administration and value-based business infrastructure. It offers administrative services, such as health plan services, pharmacy benefits management, risk management, analytics and reporting, and leadership and management; and Identifi, a proprietary technology system that aggregates and analyzes data, manages care workflows, and engages patients.