Independence (IHC) Upgraded to “Buy” at ValuEngine

Independence (NYSE:IHC) was upgraded by stock analysts at ValuEngine from a “hold” rating to a “buy” rating in a note issued to investors on Friday.

Shares of Independence (NYSE:IHC) opened at $29.50 on Friday. The stock has a market capitalization of $433.24, a price-to-earnings ratio of 14.90 and a beta of 0.34. Independence has a 12-month low of $16.55 and a 12-month high of $30.05.

Independence (NYSE:IHC) last posted its earnings results on Thursday, November 9th. The financial services provider reported $0.34 earnings per share (EPS) for the quarter. Independence had a return on equity of 7.51% and a net margin of 10.43%.

Several large investors have recently bought and sold shares of IHC. Bank of New York Mellon Corp lifted its position in shares of Independence by 0.3% during the second quarter. Bank of New York Mellon Corp now owns 41,941 shares of the financial services provider’s stock worth $858,000 after acquiring an additional 124 shares in the last quarter. Northern Trust Corp lifted its position in shares of Independence by 3.0% during the second quarter. Northern Trust Corp now owns 91,542 shares of the financial services provider’s stock worth $1,872,000 after acquiring an additional 2,665 shares in the last quarter. Vanguard Group Inc. lifted its position in shares of Independence by 0.4% during the second quarter. Vanguard Group Inc. now owns 213,018 shares of the financial services provider’s stock worth $4,356,000 after acquiring an additional 857 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in shares of Independence by 1.1% during the second quarter. Dimensional Fund Advisors LP now owns 990,861 shares of the financial services provider’s stock worth $20,263,000 after acquiring an additional 11,259 shares in the last quarter. Finally, State Street Corp lifted its position in shares of Independence by 3.8% during the second quarter. State Street Corp now owns 123,403 shares of the financial services provider’s stock worth $2,523,000 after acquiring an additional 4,561 shares in the last quarter. Hedge funds and other institutional investors own 17.50% of the company’s stock.

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Independence Company Profile

Independence Holding Company (IHC) is a holding company principally engaged in the life and health insurance business. The Company’s segments include Medical Stop-Loss; Fully Insured Health; Group disability, life and DBL; Individual life, annuities and other, and Corporate. The Company is a writer across the nation of excess or stop-loss insurance for self-insured employer groups that desire to manage the risk of large medical claims (Medical Stop-Loss).

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