Ameriprise Financial Inc. Decreases Stake in Molina Healthcare Inc (MOH)

Ameriprise Financial Inc. reduced its stake in shares of Molina Healthcare Inc (NYSE:MOH) by 87.6% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 633,511 shares of the company’s stock after selling 4,474,577 shares during the period. Ameriprise Financial Inc. owned approximately 1.12% of Molina Healthcare worth $28,885,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the stock. Meadow Creek Investment Management LLC increased its stake in shares of Molina Healthcare by 13.2% in the first quarter. Meadow Creek Investment Management LLC now owns 2,408 shares of the company’s stock worth $110,000 after buying an additional 280 shares during the last quarter. Glen Harbor Capital Management LLC boosted its position in Molina Healthcare by 13.2% in the first quarter. Glen Harbor Capital Management LLC now owns 2,924 shares of the company’s stock worth $133,000 after buying an additional 340 shares during the period. ETRADE Capital Management LLC bought a new position in Molina Healthcare during the third quarter worth approximately $259,000. First Mercantile Trust Co. raised its position in shares of Molina Healthcare by 5.4% in the first quarter. First Mercantile Trust Co. now owns 5,640 shares of the company’s stock worth $257,000 after buying an additional 290 shares during the period. Finally, Ellington Management Group LLC acquired a new position in shares of Molina Healthcare during the fourth quarter worth about $326,000. Institutional investors and hedge funds own 93.65% of the company’s stock.

Institutional Ownership by Quarter for Molina Healthcare (NYSE:MOH)

Shares of Molina Healthcare Inc (NYSE MOH) opened at 68.79 on Friday. Molina Healthcare Inc has a 52-week low of $42.56 and a 52-week high of $70.08. The company has a market cap of $3.92 billion, a P/E ratio of 36.96 and a beta of 0.83. The company has a 50-day moving average price of $65.91 and a 200-day moving average price of $55.45.

ILLEGAL ACTIVITY NOTICE: This article was first reported by Transcript Daily and is the sole property of of Transcript Daily. If you are viewing this article on another website, it was stolen and reposted in violation of United States and international trademark and copyright laws. The correct version of this article can be accessed at https://transcriptdaily.com/2017/06/17/ameriprise-financial-inc-decreases-position-in-molina-healthcare-inc-moh-updated-updated.html.

A number of research firms have weighed in on MOH. TheStreet raised shares of Molina Healthcare from a “c” rating to a “b” rating in a research report on Tuesday, May 2nd. Zacks Investment Research raised shares of Molina Healthcare from a “hold” rating to a “buy” rating and set a $72.00 price objective for the company in a research report on Thursday, May 4th. ValuEngine raised shares of Molina Healthcare from a “hold” rating to a “buy” rating in a research report on Friday, June 2nd. Barclays PLC assumed coverage on shares of Molina Healthcare in a research report on Tuesday, March 21st. They issued an “equal weight” rating and a $51.00 price target for the company. Finally, Stifel Nicolaus lifted their price target on shares of Molina Healthcare from $45.00 to $47.00 and gave the company a “hold” rating in a research report on Wednesday, May 3rd. Three research analysts have rated the stock with a sell rating, seven have assigned a hold rating and four have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $59.23.

In other news, COO Terry Bayer sold 15,088 shares of the company’s stock in a transaction that occurred on Wednesday, June 14th. The stock was sold at an average price of $70.00, for a total value of $1,056,160.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director John C. Molina sold 15,393 shares of the company’s stock in a transaction that occurred on Wednesday, May 3rd. The shares were sold at an average price of $65.00, for a total value of $1,000,545.00. Following the completion of the sale, the director now owns 693,599 shares of the company’s stock, valued at $45,083,935. The disclosure for this sale can be found here. Insiders have sold 92,377 shares of company stock valued at $6,183,534 in the last three months. Insiders own 6.20% of the company’s stock.

Molina Healthcare Company Profile

Molina Healthcare, Inc offers Medicaid-related solutions for low-income families and individuals, and assists government agencies in their administration of the Medicaid program. The Company operates through three segments: Health Plans, Molina Medicaid Solutions and Other, which includes its Pathways Health and Community Support LLC (Pathways) business.

Receive News & Ratings for Molina Healthcare Inc Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Molina Healthcare Inc and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply