Legal & General Group Plc Grows Holdings in HealthEquity, Inc. (HQY)
Legal & General Group Plc grew its position in HealthEquity, Inc. (NASDAQ:HQY) by 12.7% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 87,541 shares of the company’s stock after acquiring an additional 9,858 shares during the quarter. Legal & General Group Plc owned 0.15% of HealthEquity worth $4,360,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other large investors have also recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its position in shares of HealthEquity by 6.2% during the 1st quarter. Vanguard Group Inc. now owns 4,115,237 shares of the company’s stock valued at $174,691,000 after purchasing an additional 240,136 shares during the last quarter. Paloma Partners Management Co bought a new position in shares of HealthEquity during the 1st quarter valued at approximately $503,000. First Trust Advisors LP increased its position in shares of HealthEquity by 17.0% during the 2nd quarter. First Trust Advisors LP now owns 94,283 shares of the company’s stock valued at $4,698,000 after purchasing an additional 13,676 shares during the last quarter. Quantbot Technologies LP increased its position in shares of HealthEquity by 83.4% during the 1st quarter. Quantbot Technologies LP now owns 6,883 shares of the company’s stock valued at $292,000 after purchasing an additional 3,129 shares during the last quarter. Finally, Bank of America Corp DE increased its position in shares of HealthEquity by 57.6% during the 1st quarter. Bank of America Corp DE now owns 86,183 shares of the company’s stock valued at $3,659,000 after purchasing an additional 31,500 shares during the last quarter. 91.86% of the stock is currently owned by institutional investors and hedge funds.
HealthEquity, Inc. (NASDAQ:HQY) opened at 45.43 on Wednesday. The company’s 50-day moving average price is $44.98 and its 200-day moving average price is $45.90. HealthEquity, Inc. has a 12-month low of $30.34 and a 12-month high of $54.95. The stock has a market cap of $2.72 billion, a PE ratio of 85.39 and a beta of 1.75.
HealthEquity (NASDAQ:HQY) last posted its quarterly earnings results on Tuesday, September 5th. The company reported $0.27 EPS for the quarter, beating the consensus estimate of $0.14 by $0.13. HealthEquity had a return on equity of 13.93% and a net margin of 20.27%. The firm had revenue of $56.90 million during the quarter, compared to analysts’ expectations of $55.66 million. During the same quarter last year, the firm earned $0.16 earnings per share. The business’s revenue for the quarter was up 28.7% on a year-over-year basis. On average, equities analysts expect that HealthEquity, Inc. will post $0.70 EPS for the current fiscal year.
In other HealthEquity news, insider Stephen Neeleman sold 8,500 shares of the firm’s stock in a transaction on Thursday, June 15th. The stock was sold at an average price of $50.40, for a total transaction of $428,400.00. Following the completion of the sale, the insider now owns 1,000 shares of the company’s stock, valued at $50,400. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Frank Medici sold 154,265 shares of the firm’s stock in a transaction on Wednesday, June 21st. The stock was sold at an average price of $51.94, for a total value of $8,012,524.10. Following the sale, the director now directly owns 6,381 shares of the company’s stock, valued at approximately $331,429.14. The disclosure for this sale can be found here. In the last ninety days, insiders sold 1,984,564 shares of company stock valued at $101,093,921. Insiders own 19.00% of the company’s stock.
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Several equities analysts have recently weighed in on the company. Oppenheimer Holdings, Inc. reissued a “buy” rating and set a $61.00 target price on shares of HealthEquity in a research report on Wednesday, September 6th. Cantor Fitzgerald reissued a “buy” rating and set a $56.00 target price on shares of HealthEquity in a research report on Tuesday, September 5th. BidaskClub downgraded HealthEquity from a “sell” rating to a “strong sell” rating in a research report on Friday, August 25th. Zacks Investment Research downgraded HealthEquity from a “buy” rating to a “hold” rating in a research report on Friday, August 4th. Finally, TheStreet raised HealthEquity from a “c” rating to a “b” rating in a research report on Monday, July 31st. One analyst has rated the stock with a sell rating, one has issued a hold rating and eight have assigned a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $56.50.
HealthEquity, Inc provides a range of solutions for managing healthcare accounts (Health Savings Accounts (HSAs), Health Reimbursement Arrangements (HRAs) and Flexible Spending Accounts (FSAs)) for health plans, insurance companies and third-party administrators. The Company is engaged in technology-enabled services platforms that allow consumers to make healthcare saving and spending decisions.
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