Principal Financial Group Inc. Has $21.34 Million Holdings in Molina Healthcare, Inc. (NYSE:MOH)

Principal Financial Group Inc. cut its stake in shares of Molina Healthcare, Inc. (NYSE:MOH) by 2.7% during the 2nd quarter, Holdings Channel reports. The fund owned 71,771 shares of the company’s stock after selling 2,002 shares during the period. Principal Financial Group Inc.’s holdings in Molina Healthcare were worth $21,338,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of MOH. Principal Securities Inc. bought a new position in shares of Molina Healthcare during the 4th quarter worth about $42,000. Innealta Capital LLC bought a new position in Molina Healthcare in the second quarter worth approximately $36,000. Access Investment Management LLC bought a new position in Molina Healthcare in the fourth quarter worth approximately $99,000. Mather Group LLC. acquired a new stake in Molina Healthcare in the first quarter valued at approximately $123,000. Finally, Lindbrook Capital LLC increased its holdings in shares of Molina Healthcare by 47.0% during the first quarter. Lindbrook Capital LLC now owns 322 shares of the company’s stock valued at $132,000 after acquiring an additional 103 shares in the last quarter. 98.50% of the stock is owned by institutional investors.

Insider Buying and Selling at Molina Healthcare

In other news, Director Steven J. Orlando sold 1,000 shares of the business’s stock in a transaction that occurred on Tuesday, July 30th. The shares were sold at an average price of $339.21, for a total value of $339,210.00. Following the sale, the director now owns 18,025 shares of the company’s stock, valued at $6,114,260.25. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other Molina Healthcare news, CAO Maurice Hebert sold 393 shares of the stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $346.52, for a total transaction of $136,182.36. Following the sale, the chief accounting officer now owns 9,473 shares in the company, valued at $3,282,583.96. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Steven J. Orlando sold 1,000 shares of Molina Healthcare stock in a transaction on Tuesday, July 30th. The shares were sold at an average price of $339.21, for a total value of $339,210.00. Following the completion of the transaction, the director now owns 18,025 shares of the company’s stock, valued at $6,114,260.25. The disclosure for this sale can be found here. Insiders own 1.10% of the company’s stock.

Molina Healthcare Trading Down 0.2 %

Shares of MOH stock opened at $349.79 on Tuesday. Molina Healthcare, Inc. has a 12-month low of $282.96 and a 12-month high of $423.92. The company has a quick ratio of 1.57, a current ratio of 1.57 and a debt-to-equity ratio of 0.49. The company has a 50 day moving average of $321.61 and a 200-day moving average of $347.99. The firm has a market cap of $20.50 billion, a P/E ratio of 18.98, a PEG ratio of 1.22 and a beta of 0.58.

Molina Healthcare (NYSE:MOH) last issued its earnings results on Wednesday, July 24th. The company reported $5.86 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.73 by $0.13. The firm had revenue of $9.88 billion for the quarter, compared to analyst estimates of $9.75 billion. Molina Healthcare had a return on equity of 28.09% and a net margin of 2.84%. The business’s revenue was up 18.7% on a year-over-year basis. During the same period in the previous year, the company posted $5.65 earnings per share. Sell-side analysts anticipate that Molina Healthcare, Inc. will post 23.5 earnings per share for the current year.

Analyst Upgrades and Downgrades

MOH has been the topic of several research reports. Truist Financial lowered their price objective on shares of Molina Healthcare from $440.00 to $400.00 and set a “buy” rating on the stock in a report on Monday, July 15th. TD Cowen lowered their price target on Molina Healthcare from $412.00 to $351.00 and set a “buy” rating for the company in a research report on Wednesday, July 24th. Baird R W upgraded Molina Healthcare to a “strong-buy” rating in a research note on Thursday, May 30th. Jefferies Financial Group reduced their target price on shares of Molina Healthcare from $354.00 to $297.00 and set a “hold” rating for the company in a research note on Wednesday, July 24th. Finally, Deutsche Bank Aktiengesellschaft dropped their price target on shares of Molina Healthcare from $354.00 to $353.00 and set a “hold” rating on the stock in a research report on Monday, July 29th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Molina Healthcare has an average rating of “Moderate Buy” and a consensus price target of $378.00.

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.