PNC Financial Services Group Inc. Has $14.08 Million Stock Position in Clover Health Investments, Corp. (NASDAQ:CLOV)

PNC Financial Services Group Inc. cut its holdings in shares of Clover Health Investments, Corp. (NASDAQ:CLOV) by 7.1% during the fourth quarter, HoldingsChannel.com reports. The firm owned 4,468,830 shares of the company’s stock after selling 341,838 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Clover Health Investments were worth $14,077,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of CLOV. Arizona State Retirement System lifted its holdings in Clover Health Investments by 6.3% in the fourth quarter. Arizona State Retirement System now owns 118,265 shares of the company’s stock valued at $373,000 after buying an additional 6,990 shares during the period. Y Intercept Hong Kong Ltd acquired a new position in shares of Clover Health Investments in the 4th quarter valued at $135,000. Palacios Wealth Management LLC bought a new position in shares of Clover Health Investments in the 4th quarter worth $131,000. Ballentine Partners LLC bought a new position in shares of Clover Health Investments in the 4th quarter worth $131,000. Finally, SignalPoint Asset Management LLC grew its stake in shares of Clover Health Investments by 6.2% during the fourth quarter. SignalPoint Asset Management LLC now owns 160,074 shares of the company’s stock worth $504,000 after purchasing an additional 9,390 shares during the period. Institutional investors own 19.77% of the company’s stock.

Clover Health Investments Price Performance

NASDAQ:CLOV opened at $3.39 on Tuesday. The business’s 50-day simple moving average is $4.09 and its 200-day simple moving average is $3.62. Clover Health Investments, Corp. has a fifty-two week low of $0.61 and a fifty-two week high of $4.87. The stock has a market capitalization of $1.73 billion, a PE ratio of -16.95 and a beta of 2.00.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on CLOV. Canaccord Genuity Group increased their target price on Clover Health Investments from $4.20 to $4.50 and gave the company a “buy” rating in a research note on Monday, March 3rd. Craig Hallum assumed coverage on shares of Clover Health Investments in a report on Tuesday, December 17th. They set a “buy” rating and a $6.00 price objective for the company.

Insider Buying and Selling at Clover Health Investments

In related news, General Counsel Karen Soares sold 52,500 shares of Clover Health Investments stock in a transaction that occurred on Thursday, March 6th. The stock was sold at an average price of $3.80, for a total value of $199,500.00. Following the sale, the general counsel now owns 1,299,663 shares of the company’s stock, valued at approximately $4,938,719.40. This trade represents a 3.88 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Brady Patrick Priest sold 75,000 shares of the company’s stock in a transaction that occurred on Thursday, March 6th. The stock was sold at an average price of $3.68, for a total value of $276,000.00. Following the transaction, the chief executive officer now directly owns 2,418,151 shares of the company’s stock, valued at approximately $8,898,795.68. This trade represents a 3.01 % decrease in their position. The disclosure for this sale can be found here. Insiders own 22.28% of the company’s stock.

Clover Health Investments Company 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.