Ameriprise Financial Inc. Lowers Holdings in Molina Healthcare, Inc. (NYSE:MOH)

Ameriprise Financial Inc. trimmed its position in Molina Healthcare, Inc. (NYSE:MOH) by 24.9% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 74,120 shares of the company’s stock after selling 24,577 shares during the quarter. Ameriprise Financial Inc.’s holdings in Molina Healthcare were worth $21,573,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in MOH. Wingate Wealth Advisors Inc. purchased a new stake in shares of Molina Healthcare in the 4th quarter worth $52,000. Hurley Capital LLC purchased a new stake in shares of Molina Healthcare in the 4th quarter worth $55,000. EverSource Wealth Advisors LLC lifted its holdings in shares of Molina Healthcare by 81.5% in the 4th quarter. EverSource Wealth Advisors LLC now owns 196 shares of the company’s stock worth $57,000 after buying an additional 88 shares during the period. Whittier Trust Co. of Nevada Inc. lifted its holdings in shares of Molina Healthcare by 337.0% in the 4th quarter. Whittier Trust Co. of Nevada Inc. now owns 201 shares of the company’s stock worth $58,000 after buying an additional 155 shares during the period. Finally, Harvest Fund Management Co. Ltd lifted its holdings in shares of Molina Healthcare by 895.0% in the 4th quarter. Harvest Fund Management Co. Ltd now owns 199 shares of the company’s stock worth $58,000 after buying an additional 179 shares during the period. 98.50% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, CEO Joseph M. Zubretsky sold 87,500 shares of the stock in a transaction dated Wednesday, April 30th. The stock was sold at an average price of $320.06, for a total value of $28,005,250.00. Following the transaction, the chief executive officer now directly owns 257,715 shares of the company’s stock, valued at approximately $82,484,262.90. This represents a 25.35% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Steven J. Orlando sold 1,000 shares of the company’s stock in a transaction dated 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 disclosure for this sale can be found here. Over the last three months, insiders have sold 89,169 shares of company stock valued at $28,520,995. Company insiders own 1.10% of the company’s stock.

Molina Healthcare Trading Up 0.6%

Molina Healthcare stock opened at $313.63 on Friday. The stock has a 50-day moving average of $324.06 and a two-hundred day moving average of $308.42. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.62 and a current ratio of 1.62. Molina Healthcare, Inc. has a one year low of $262.32 and a one year high of $365.23. The stock has a market cap of $17.00 billion, a PE ratio of 15.35, a price-to-earnings-growth ratio of 1.06 and a beta of 0.63.

Molina Healthcare (NYSE:MOH) last released its quarterly earnings results on Wednesday, April 23rd. The company reported $6.08 EPS for the quarter, beating analysts’ consensus estimates of $5.96 by $0.12. The company had revenue of $11.15 billion during the quarter, compared to analysts’ expectations of $10.86 billion. Molina Healthcare had a return on equity of 28.13% and a net margin of 2.90%. The firm’s revenue was up 12.2% compared to the same quarter last year. During the same period last year, the business posted $5.73 earnings per share. On average, research analysts anticipate that Molina Healthcare, Inc. will post 24.4 EPS for the current fiscal year.

Wall Street Analyst Weigh In

MOH has been the subject of several research reports. UBS Group lowered 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. Robert W. Baird restated a “neutral” rating and set a $375.00 price objective (up from $331.00) on shares of Molina Healthcare in a research note on Tuesday, April 15th. StockNews.com upgraded Molina Healthcare from a “hold” rating to a “buy” rating in a research note on Friday, April 11th. Truist Financial upped their price objective on Molina Healthcare from $340.00 to $400.00 and gave the stock a “buy” rating in a research note on Friday, April 11th. Finally, Baird R W cut Molina Healthcare from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, April 15th. Nine investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $365.38.

Molina Healthcare Company Profile

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.