Northern Trust Corp increased its holdings in shares of Health Insurance Innovations, Inc. (NASDAQ:HIIQ) by 542.8% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 121,537 shares of the financial services provider’s stock after buying an additional 102,629 shares during the quarter. Northern Trust Corp owned about 1.05% of Health Insurance Innovations worth $2,856,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in HIIQ. Russell Investments Group Ltd. purchased a new position in Health Insurance Innovations during the second quarter worth about $14,467,000. Vanguard Group Inc. lifted its position in Health Insurance Innovations by 92.2% during the first quarter. Vanguard Group Inc. now owns 406,293 shares of the financial services provider’s stock worth $6,500,000 after buying an additional 194,907 shares during the period. Timpani Capital Management LLC purchased a new position in Health Insurance Innovations during the second quarter worth about $3,674,000. Bank of Montreal Can lifted its position in Health Insurance Innovations by 1,711.3% during the second quarter. Bank of Montreal Can now owns 133,786 shares of the financial services provider’s stock worth $3,145,000 after buying an additional 126,400 shares during the period. Finally, Emerald Mutual Fund Advisers Trust lifted its position in Health Insurance Innovations by 12.5% during the second quarter. Emerald Mutual Fund Advisers Trust now owns 448,955 shares of the financial services provider’s stock worth $10,550,000 after buying an additional 50,000 shares during the period. Hedge funds and other institutional investors own 63.72% of the company’s stock.

Shares of Health Insurance Innovations, Inc. (NASDAQ:HIIQ) opened at $24.30 on Friday. The company has a market capitalization of $401.95, a PE ratio of 16.53 and a beta of 0.63. Health Insurance Innovations, Inc. has a 12 month low of $10.85 and a 12 month high of $37.38.

Health Insurance Innovations (NASDAQ:HIIQ) last announced its quarterly earnings results on Wednesday, November 1st. The financial services provider reported $0.46 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.35 by $0.11. The company had revenue of $63.34 million during the quarter, compared to analyst estimates of $59.30 million. Health Insurance Innovations had a return on equity of 21.32% and a net margin of 5.98%. The firm’s revenue was up 37.4% on a year-over-year basis. During the same period in the prior year, the firm posted $0.33 earnings per share. research analysts forecast that Health Insurance Innovations, Inc. will post 1.39 EPS for the current fiscal year.

Health Insurance Innovations announced that its board has initiated a share repurchase plan on Monday, October 16th that authorizes the company to repurchase $50.00 million in shares. This repurchase authorization authorizes the financial services provider to buy shares of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s board believes its shares are undervalued.

In other Health Insurance Innovations news, CEO of HealthPocket Bruce Telkamp sold 9,970 shares of the company’s stock in a transaction dated Friday, September 1st. The stock was sold at an average price of $36.19, for a total transaction of $360,814.30. Following the completion of the sale, the insider now directly owns 19,500 shares in the company, valued at $705,705. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Robert S. Murley purchased 3,000 shares of the company’s stock in a transaction on Friday, September 1st. The shares were purchased at an average price of $30.21 per share, with a total value of $90,630.00. Following the completion of the purchase, the director now directly owns 34,734 shares of the company’s stock, valued at $1,049,314.14. The disclosure for this purchase can be found here. Insiders have sold 48,576 shares of company stock valued at $1,584,152 over the last 90 days. 30.00% of the stock is currently owned by insiders.

Several equities analysts recently weighed in on HIIQ shares. Canaccord Genuity reiterated a “buy” rating and set a $39.00 target price on shares of Health Insurance Innovations in a research report on Wednesday, September 13th. Cantor Fitzgerald reiterated a “buy” rating and set a $38.00 target price on shares of Health Insurance Innovations in a research report on Monday, September 25th. ValuEngine upgraded Health Insurance Innovations from a “buy” rating to a “strong-buy” rating in a research report on Monday, October 2nd. TheStreet downgraded Health Insurance Innovations from a “b-” rating to a “c” rating in a research report on Thursday, September 28th. Finally, Zacks Investment Research downgraded Health Insurance Innovations from a “buy” rating to a “hold” rating in a research report on Wednesday, October 11th. One investment analyst has rated the stock with a hold rating, seven have given a buy rating and two have issued a strong buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $30.86.

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Health Insurance Innovations Company 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.

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

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