Man Group plc Acquires 24,323 Shares of Molina Healthcare, Inc. (NYSE:MOH)

Man Group plc grew its holdings in shares of Molina Healthcare, Inc. (NYSE:MOH) by 143.5% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 41,273 shares of the company’s stock after buying an additional 24,323 shares during the period. Man Group plc’s holdings in Molina Healthcare were worth $12,013,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of MOH. Colonial Trust Co SC grew its stake in shares of Molina Healthcare by 930.0% during the fourth quarter. Colonial Trust Co SC now owns 103 shares of the company’s stock valued at $30,000 after buying an additional 93 shares during the last quarter. Wingate Wealth Advisors Inc. bought a new position in Molina Healthcare in the fourth quarter worth approximately $52,000. Hurley Capital LLC bought a new position in Molina Healthcare in the fourth quarter worth approximately $55,000. EverSource Wealth Advisors LLC grew its stake in Molina Healthcare by 81.5% in the fourth quarter. EverSource Wealth Advisors LLC now owns 196 shares of the company’s stock worth $57,000 after purchasing an additional 88 shares in the last quarter. Finally, Whittier Trust Co. of Nevada Inc. grew its stake in Molina Healthcare by 337.0% in the fourth quarter. Whittier Trust Co. of Nevada Inc. now owns 201 shares of the company’s stock worth $58,000 after purchasing an additional 155 shares in the last quarter. Institutional investors own 98.50% of the company’s stock.

Wall Street Analyst Weigh In

MOH has been the topic of several research analyst reports. Stephens reissued an “equal weight” rating and issued a $345.00 price objective on shares of Molina Healthcare in a research note on Thursday, February 6th. Baird R W cut Molina Healthcare from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, April 15th. Mizuho increased their price objective on Molina Healthcare from $376.00 to $400.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 9th. UBS Group dropped their price objective on Molina Healthcare from $374.00 to $325.00 and set a “neutral” rating on the stock in a research note on Friday, February 7th. Finally, Truist Financial increased 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. Nine research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $365.38.

Molina Healthcare Stock Performance

Shares of MOH opened at $325.02 on Monday. Molina Healthcare, Inc. has a 12 month low of $262.32 and a 12 month high of $365.23. The stock has a fifty day moving average price of $324.07 and a 200-day moving average price of $308.23. The company has a current ratio of 1.62, a quick ratio of 1.62 and a debt-to-equity ratio of 0.69. The firm has a market cap of $17.62 billion, a PE ratio of 15.91, a P/E/G ratio of 1.06 and a beta of 0.63.

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

Insider Activity

In related news, Director Steven J. Orlando sold 1,000 shares of the firm’s stock in a transaction on 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 transaction, the director now owns 17,375 shares in the company, valued at $5,235,608.75. This trade represents a 5.44% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Richard M. Schapiro sold 669 shares of the firm’s stock in a transaction on Tuesday, April 29th. The stock was sold at an average price of $320.50, for a total value of $214,414.50. Following the completion of the transaction, the director now owns 11,244 shares of the company’s stock, valued at $3,603,702. This trade represents a 5.62% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 89,169 shares of company stock worth $28,520,995. Insiders own 1.10% of the company’s stock.

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.