California Public Employees Retirement System maintained its position in Health Insurance Innovations, Inc. (NASDAQ:HIIQ) during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 25,000 shares of the financial services provider’s stock at the end of the second quarter. California Public Employees Retirement System owned about 0.22% of Health Insurance Innovations worth $588,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of HIIQ. Russell Investments Group Ltd. acquired a new position in shares of Health Insurance Innovations during the 2nd quarter valued at about $14,467,000. Vanguard Group Inc. increased its position in Health Insurance Innovations by 92.2% during the 1st quarter. Vanguard Group Inc. now owns 406,293 shares of the financial services provider’s stock worth $6,500,000 after purchasing an additional 194,907 shares in the last quarter. Timpani Capital Management LLC acquired a new stake in Health Insurance Innovations during the 2nd quarter worth approximately $3,674,000. Bank of Montreal Can increased its position in Health Insurance Innovations by 1,711.3% during the 2nd quarter. Bank of Montreal Can now owns 133,786 shares of the financial services provider’s stock worth $3,145,000 after purchasing an additional 126,400 shares in the last quarter. Finally, Northern Trust Corp increased its position in Health Insurance Innovations by 542.8% during the 2nd quarter. Northern Trust Corp now owns 121,537 shares of the financial services provider’s stock worth $2,856,000 after purchasing an additional 102,629 shares in the last quarter. 63.72% of the stock is owned by institutional investors.

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In other Health Insurance Innovations news, insider Sheldon Wang sold 4,530 shares of the company’s stock in a transaction that occurred on Thursday, September 7th. The stock was sold at an average price of $32.73, for a total value of $148,266.90. Following the completion of the transaction, the insider now owns 224,894 shares in the company, valued at approximately $7,360,780.62. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Robert S. Murley purchased 3,000 shares of the firm’s stock in a transaction on Friday, September 1st. The stock was bought at an average price of $30.21 per share, with a total value of $90,630.00. Following the acquisition, the director now owns 34,734 shares in the company, valued at $1,049,314.14. The disclosure for this purchase can be found here. In the last 90 days, insiders sold 48,576 shares of company stock valued at $1,584,152. 30.00% of the stock is owned by company insiders.

Health Insurance Innovations, Inc. (HIIQ) opened at $23.90 on Monday. The firm has a market capitalization of $395.37, a P/E ratio of 16.26 and a beta of 0.63. Health Insurance Innovations, Inc. has a fifty-two week low of $9.75 and a fifty-two week 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 for the quarter, topping the Zacks’ consensus estimate of $0.35 by $0.11. The firm had revenue of $63.34 million during the quarter, compared to analysts’ expectations of $59.30 million. Health Insurance Innovations had a return on equity of 21.32% and a net margin of 5.98%. Health Insurance Innovations’s quarterly revenue was up 37.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.33 EPS. analysts forecast that Health Insurance Innovations, Inc. will post 1.39 earnings per share for the current year.

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

A number of analysts recently issued reports on HIIQ shares. Cantor Fitzgerald reissued an “overweight” rating and set a $38.00 target price on shares of Health Insurance Innovations in a research report on Tuesday, September 12th. Canaccord Genuity reissued a “buy” rating and set a $39.00 target price (up previously from $30.00) on shares of Health Insurance Innovations in a research report on Friday, August 4th. ValuEngine raised shares of Health Insurance Innovations from a “buy” rating to a “strong-buy” rating in a research report on Monday, October 2nd. Zacks Investment Research raised shares of Health Insurance Innovations from a “hold” rating to a “buy” rating and set a $33.00 target price for the company in a research report on Friday, August 4th. Finally, Craig Hallum reissued a “buy” rating and set a $38.00 target price (up previously from $28.00) on shares of Health Insurance Innovations in a research report on Thursday, August 3rd. One analyst has rated the stock with a hold rating, seven have assigned a buy rating and two have assigned a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and an average target price 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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