Teachers Advisors LLC Buys New Holdings in Health Insurance Innovations, Inc. (HIIQ)

Teachers Advisors LLC bought a new position in Health Insurance Innovations, Inc. (NASDAQ:HIIQ) in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 20,221 shares of the financial services provider’s stock, valued at approximately $475,000. Teachers Advisors LLC owned about 0.18% of Health Insurance Innovations as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently modified their holdings of HIIQ. Bank of New York Mellon Corp grew its stake in shares of Health Insurance Innovations by 11.5% in the first quarter. Bank of New York Mellon Corp now owns 12,270 shares of the financial services provider’s stock worth $197,000 after acquiring an additional 1,266 shares during the period. Alliancebernstein L.P. bought a new stake in shares of Health Insurance Innovations in the second quarter worth approximately $240,000. Rhumbline Advisers bought a new stake in shares of Health Insurance Innovations in the second quarter worth approximately $277,000. Sheets Smith Wealth Management bought a new stake in shares of Health Insurance Innovations in the second quarter worth approximately $280,000. Finally, Wells Fargo & Company MN grew its stake in shares of Health Insurance Innovations by 1,292.6% in the second quarter. Wells Fargo & Company MN now owns 13,926 shares of the financial services provider’s stock worth $327,000 after acquiring an additional 12,926 shares during the period. 64.28% of the stock is owned by institutional investors and hedge funds.

Shares of Health Insurance Innovations, Inc. (NASDAQ:HIIQ) opened at $23.95 on Friday. The stock has a market cap of $396.16, a price-to-earnings ratio of 16.29 and a beta of 0.63. Health Insurance Innovations, Inc. has a 12 month low of $7.52 and a 12 month high of $37.38.

Health Insurance Innovations (NASDAQ:HIIQ) last released its quarterly earnings results on Wednesday, November 1st. The financial services provider reported $0.46 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.35 by $0.11. Health Insurance Innovations had a net margin of 5.98% and a return on equity of 21.32%. The company had revenue of $63.34 million for the quarter, compared to the consensus estimate of $59.30 million. During the same quarter in the prior year, the firm earned $0.33 earnings per share. Health Insurance Innovations’s revenue was up 37.4% on a year-over-year basis. analysts predict that Health Insurance Innovations, Inc. will post 1.65 earnings per share for the current fiscal year.

Health Insurance Innovations declared that its board has approved a share buyback program on Monday, October 16th that authorizes the company to repurchase $50.00 million in outstanding shares. This repurchase authorization authorizes the financial services provider to purchase shares of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s management believes its stock is undervalued.

In other Health Insurance Innovations news, insider Sheldon Wang sold 16,307 shares of the business’s stock in a transaction on Wednesday, September 6th. The shares were sold at an average price of $31.69, for a total transaction of $516,768.83. Following the transaction, the insider now owns 229,001 shares in the company, valued at $7,257,041.69. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Robert S. Murley purchased 3,000 shares of the business’s stock in a transaction dated Friday, September 1st. The stock was bought at an average price of $30.21 per share, for a total transaction of $90,630.00. Following the completion of the acquisition, the director now owns 34,734 shares of the company’s stock, valued at approximately $1,049,314.14. The disclosure for this purchase can be found here. Insiders have sold 48,576 shares of company stock worth $1,584,152 in the last quarter. Company insiders own 30.00% of the company’s stock.

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Several analysts recently issued reports on the stock. Cantor Fitzgerald restated an “overweight” rating and set a $35.00 target price (up from $30.00) on shares of Health Insurance Innovations in a research report on Monday, July 17th. Zacks Investment Research upgraded shares of Health Insurance Innovations from a “hold” rating to a “strong-buy” rating and set a $24.00 target price for the company in a research report on Tuesday, October 17th. Northland Securities restated a “buy” rating and set a $37.00 target price on shares of Health Insurance Innovations in a research report on Tuesday, October 17th. Canaccord Genuity reaffirmed a “buy” rating and set a $39.00 price target on shares of Health Insurance Innovations in a report on Friday, September 1st. Finally, ValuEngine raised shares of Health Insurance Innovations from a “hold” rating to a “buy” rating in a report on Friday, September 1st. One investment analyst has rated the stock with a hold rating, seven have issued a buy rating and two have given a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target of $30.86.

Health Insurance Innovations Profile

Health Insurance Innovations, Inc is a developer, distributor and cloud-based administrator of individual and family health insurance plans (IFPs) and supplemental products, which include short-term medical (STM) insurance plans, and guaranteed-issue and underwritten hospital indemnity plans. The Company also develops, distributes and administers supplemental products, which include a range of additional insurance and non-insurance products, such as pharmacy benefit cards, dental plans, vision plans, cancer/critical illness plans, deductible and gap protection plans, and life insurance policies that are purchased as supplements to IFP.

Institutional Ownership by Quarter for Health Insurance Innovations (NASDAQ:HIIQ)

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