Independence (NYSE:IHC) Reaches New 52-Week High at $41.30

Shares of Independence Holding (NYSE:IHC) hit a new 52-week high during trading on Friday . The company traded as high as $41.30 and last traded at $41.30, with a volume of 10 shares trading hands. The stock had previously closed at $40.60.

Separately, ValuEngine upgraded shares of Independence from a “sell” rating to a “hold” rating in a research note on Friday, October 25th.

The company has a market capitalization of $597.96 million, a PE ratio of 21.48 and a beta of 0.19. The stock’s 50 day moving average is $38.73 and its 200 day moving average is $37.94.

Several hedge funds have recently made changes to their positions in IHC. Janney Montgomery Scott LLC purchased a new stake in shares of Independence during the 2nd quarter valued at approximately $213,000. Aperio Group LLC purchased a new stake in shares of Independence during the 2nd quarter valued at approximately $80,000. Swiss National Bank lifted its stake in Independence by 6.7% in the 2nd quarter. Swiss National Bank now owns 9,600 shares of the financial services provider’s stock worth $372,000 after purchasing an additional 600 shares in the last quarter. Bank of Montreal Can lifted its stake in Independence by 65.0% in the 2nd quarter. Bank of Montreal Can now owns 1,066 shares of the financial services provider’s stock worth $41,000 after purchasing an additional 420 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its stake in Independence by 8.9% in the 2nd quarter. Charles Schwab Investment Management Inc. now owns 12,630 shares of the financial services provider’s stock worth $490,000 after purchasing an additional 1,036 shares in the last quarter. Institutional investors own 18.79% of the company’s stock.

Independence Company Profile (NYSE:IHC)

Independence Holding Company, through its subsidiaries, engages in life and health insurance business. The company's dental portfolio includes indemnity and PPO plans for employer groups of two or more lives, and for individuals within affinity groups; vision plans that offer a flat reimbursement amount for exams and materials; and short-term medical products for people with temporary needs for health coverage.

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