Schwab Charles Investment Management Inc. trimmed its stake in Health Insurance Innovations Inc (NASDAQ:HIIQ) by 6.5% during the first quarter, according to its most recent disclosure with the SEC. The fund owned 59,681 shares of the financial services provider’s stock after selling 4,170 shares during the quarter. Schwab Charles Investment Management Inc. owned approximately 0.36% of Health Insurance Innovations worth $1,725,000 as of its most recent SEC filing.
A number of other hedge funds also recently bought and sold shares of HIIQ. MetLife Investment Advisors LLC bought a new stake in Health Insurance Innovations in the fourth quarter valued at $144,000. Intrinsic Edge Capital Management LLC bought a new stake in Health Insurance Innovations in the first quarter valued at $289,000. Alliancebernstein L.P. bought a new stake in Health Insurance Innovations in the fourth quarter valued at $372,000. Trexquant Investment LP bought a new stake in Health Insurance Innovations in the first quarter valued at $446,000. Finally, Mackenzie Financial Corp bought a new stake in Health Insurance Innovations in the fourth quarter valued at $543,000. Institutional investors own 76.27% of the company’s stock.
A number of research firms have issued reports on HIIQ. Zacks Investment Research cut Health Insurance Innovations from a “hold” rating to a “sell” rating in a research note on Wednesday, May 23rd. ValuEngine upgraded Health Insurance Innovations from a “hold” rating to a “buy” rating in a research note on Wednesday, May 2nd. BidaskClub raised Health Insurance Innovations from a “buy” rating to a “strong-buy” rating in a report on Tuesday, June 5th. Finally, Cantor Fitzgerald reissued a “buy” rating and set a $60.00 price target on shares of Health Insurance Innovations in a report on Wednesday, May 2nd. Two equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company’s stock. Health Insurance Innovations presently has a consensus rating of “Buy” and a consensus target price of $42.62.
Shares of Health Insurance Innovations opened at $33.35 on Thursday, according to Marketbeat.com. The firm has a market cap of $558.81 million, a PE ratio of 24.17 and a beta of 0.56. Health Insurance Innovations Inc has a one year low of $12.65 and a one year high of $37.38.
Health Insurance Innovations (NASDAQ:HIIQ) last issued its quarterly earnings results on Wednesday, May 2nd. The financial services provider reported $0.52 EPS for the quarter, beating analysts’ consensus estimates of $0.50 by $0.02. The company had revenue of $67.80 million for the quarter, compared to analyst estimates of $68.53 million. Health Insurance Innovations had a return on equity of 20.15% and a net margin of 6.17%. The company’s quarterly revenue was up 21.3% compared to the same quarter last year. During the same period last year, the company earned $0.36 earnings per share. sell-side analysts predict that Health Insurance Innovations Inc will post 2.09 EPS for the current fiscal year.
Health Insurance Innovations Profile
Health Insurance Innovations, Inc operates as a cloud-based technology platform and distributor of individual and family health insurance plans, and supplemental products in the United States. It offers short-term medical plans that provides three months of health insurance coverage with various deductible and copay levels; health benefit insurance plans, which offer daily cash benefit for hospital treatment and doctor office visits, as well as accidental injury and death or dismemberment benefits; and supplemental insurance products, including pharmacy benefit cards, dental plans, vision plans, cancer/critical illness plans, deductible and gap protection plans, and life insurance policies.
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