Independence Holding (NYSE:IHC)’s share price reached a new 52-week high during trading on Thursday . The stock traded as high as $40.66 and last traded at $39.78, with a volume of 496 shares traded. The stock had previously closed at $37.40.
Separately, ValuEngine downgraded shares of Independence from a “buy” rating to a “hold” rating in a research report on Tuesday, September 4th.
The stock has a market capitalization of $553.69 million, a P/E ratio of 11.16 and a beta of 0.14.
Independence (NYSE:IHC) last posted its earnings results on Tuesday, August 7th. The financial services provider reported $0.45 EPS for the quarter. The firm had revenue of $84.89 million for the quarter. Independence had a net margin of 11.91% and a return on equity of 11.63%.
In other Independence news, insider Larry Graber sold 3,247 shares of the stock in a transaction on Tuesday, August 14th. The shares were sold at an average price of $37.28, for a total transaction of $121,048.16. Following the transaction, the insider now directly owns 55,482 shares of the company’s stock, valued at $2,068,368.96. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders have sold 21,892 shares of company stock worth $779,451 over the last three months. Company insiders own 6.96% of the company’s stock.
A number of institutional investors have recently bought and sold shares of IHC. Bank of America Corp DE increased its position in Independence by 61.6% during the second quarter. Bank of America Corp DE now owns 5,009 shares of the financial services provider’s stock worth $166,000 after buying an additional 1,909 shares during the last quarter. Paloma Partners Management Co acquired a new position in Independence during the second quarter worth $213,000. Swiss National Bank acquired a new position in Independence during the second quarter worth $299,000. Strs Ohio increased its position in Independence by 19.2% during the second quarter. Strs Ohio now owns 17,400 shares of the financial services provider’s stock worth $578,000 after buying an additional 2,800 shares during the last quarter. Finally, Wells Fargo & Company MN increased its position in Independence by 30.1% during the third quarter. Wells Fargo & Company MN now owns 18,851 shares of the financial services provider’s stock worth $676,000 after buying an additional 4,360 shares during the last quarter. 18.15% of the stock is currently owned by hedge funds and other institutional investors.
About Independence (NYSE:IHC)
Independence Holding Company, through its subsidiaries, engages in life and health insurance business. The company's dental portfolio includes indemnity and PPO plans for employer groups of two or more lives, and for individuals within affinity groups; vision plans that offer a flat reimbursement amount for exams and materials; and short-term medical products for people with temporary needs for health coverage.
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