Royce & Associates LP cut its holdings in shares of Independence Holding (NYSE:IHC) by 14.4% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 259,223 shares of the financial services provider’s stock after selling 43,508 shares during the quarter. Royce & Associates LP owned 1.74% of Independence worth $7,116,000 as of its most recent SEC filing.
Other institutional investors have also added to or reduced their stakes in the company. Northern Trust Corp increased its position in shares of Independence by 3.0% in the 2nd quarter. Northern Trust Corp now owns 91,542 shares of the financial services provider’s stock valued at $1,872,000 after purchasing an additional 2,665 shares during the last quarter. Vanguard Group Inc. increased its position in shares of Independence by 0.4% in the 2nd quarter. Vanguard Group Inc. now owns 213,018 shares of the financial services provider’s stock valued at $4,356,000 after purchasing an additional 857 shares during the last quarter. Dimensional Fund Advisors LP increased its position in shares of Independence by 1.1% in the 2nd quarter. Dimensional Fund Advisors LP now owns 990,861 shares of the financial services provider’s stock valued at $20,263,000 after purchasing an additional 11,259 shares during the last quarter. State Street Corp increased its position in shares of Independence by 3.8% in the 2nd quarter. State Street Corp now owns 123,403 shares of the financial services provider’s stock valued at $2,523,000 after purchasing an additional 4,561 shares during the last quarter. Finally, Wells Fargo & Company MN increased its position in shares of Independence by 34.8% in the 3rd quarter. Wells Fargo & Company MN now owns 12,543 shares of the financial services provider’s stock valued at $317,000 after purchasing an additional 3,239 shares during the last quarter. Institutional investors own 17.79% of the company’s stock.
Shares of Independence stock traded down $0.10 during trading hours on Thursday, hitting $34.60. 10,700 shares of the company’s stock were exchanged, compared to its average volume of 12,014. The stock has a market cap of $514.24, a P/E ratio of 10.58 and a beta of 0.40. Independence Holding has a 52 week low of $17.25 and a 52 week high of $35.00.
Independence (NYSE:IHC) last posted its earnings results on Friday, March 16th. The financial services provider reported $1.78 EPS for the quarter. The firm had revenue of $82.67 million for the quarter. Independence had a net margin of 13.12% and a return on equity of 12.19%.
Separately, ValuEngine raised shares of Independence from a “hold” rating to a “buy” rating in a research report on Friday, February 2nd.
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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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