IFP Advisors Inc Takes $140,000 Position in SelectQuote, Inc. (NYSE:SLQT)

IFP Advisors Inc purchased a new stake in shares of SelectQuote, Inc. (NYSE:SLQT) during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 4,700 shares of the company’s stock, valued at approximately $140,000.

Other large investors have also recently bought and sold shares of the company. Brookside Equity Partners LLC bought a new position in SelectQuote during the fourth quarter valued at approximately $466,544,000. Bank of New York Mellon Corp lifted its position in SelectQuote by 4,110.2% during the fourth quarter. Bank of New York Mellon Corp now owns 3,900,199 shares of the company’s stock valued at $80,929,000 after purchasing an additional 3,807,561 shares during the period. Mariner LLC lifted its position in SelectQuote by 4,826.4% during the fourth quarter. Mariner LLC now owns 1,901,895 shares of the company’s stock valued at $39,464,000 after purchasing an additional 1,863,289 shares during the period. JPMorgan Chase & Co. lifted its position in SelectQuote by 21.1% during the fourth quarter. JPMorgan Chase & Co. now owns 8,840,754 shares of the company’s stock valued at $183,446,000 after purchasing an additional 1,542,094 shares during the period. Finally, Trust Co. of Vermont bought a new position in SelectQuote in the fourth quarter worth approximately $18,691,000. Hedge funds and other institutional investors own 34.75% of the company’s stock.

In related news, CEO Timothy Robert Danker sold 1,700 shares of SelectQuote stock in a transaction dated Tuesday, February 23rd. The shares were sold at an average price of $30.02, for a total transaction of $51,034.00. Following the completion of the sale, the chief executive officer now owns 1,480,643 shares in the company, valued at approximately $44,448,902.86. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, major shareholder Sq Co-Investors Llc sold 513,530 shares of SelectQuote stock in a transaction dated Monday, March 8th. The shares were sold at an average price of $26.47, for a total transaction of $13,593,139.10. Following the sale, the insider now owns 1,889,285 shares of the company’s stock, valued at approximately $50,009,373.95. The disclosure for this sale can be found here. Insiders have sold a total of 899,785 shares of company stock valued at $25,205,792 in the last quarter. 10.28% of the stock is currently owned by company insiders.

Shares of NYSE:SLQT opened at $21.52 on Monday. SelectQuote, Inc. has a 52 week low of $15.76 and a 52 week high of $33.00. The stock has a market capitalization of $3.52 billion and a P/E ratio of -134.50. The firm has a fifty day simple moving average of $29.84 and a two-hundred day simple moving average of $25.28. The company has a quick ratio of 19.76, a current ratio of 19.76 and a debt-to-equity ratio of 0.57.

SelectQuote (NYSE:SLQT) last released its quarterly earnings results on Tuesday, May 11th. The company reported $0.22 EPS for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.02). The company had revenue of $266.90 million for the quarter, compared to analysts’ expectations of $261.30 million. SelectQuote’s revenue was up 79.6% compared to the same quarter last year. On average, analysts expect that SelectQuote, Inc. will post 0.83 earnings per share for the current year.

SLQT has been the topic of several recent research reports. Zacks Investment Research downgraded shares of SelectQuote from a “hold” rating to a “sell” rating in a research report on Saturday. The Goldman Sachs Group initiated coverage on shares of SelectQuote in a research report on Wednesday, March 31st. They issued a “buy” rating and a $36.00 price target on the stock. Citigroup increased their price target on shares of SelectQuote from $32.00 to $34.00 in a research report on Wednesday, February 10th. Credit Suisse Group raised their price objective on shares of SelectQuote from $31.00 to $35.00 and gave the company an “outperform” rating in a research report on Tuesday, February 9th. Finally, Evercore ISI raised their price objective on shares of SelectQuote from $35.00 to $38.00 and gave the company an “outperform” rating in a research report on Tuesday, February 9th. One research analyst has rated the stock with a sell rating, two have given a hold rating and nine have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus price target of $32.75.

SelectQuote Profile

Founded in 1985, SelectQuote (NYSE: SLQT) provides solutions that help consumers protect their most valuable assets: their families, health and property. The company pioneered the direct-to-consumer model of providing unbiased comparisons from multiple, highly-rated insurance companies allowing consumers to choose the policy and terms that best meet their unique needs.

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Institutional Ownership by Quarter for SelectQuote (NYSE:SLQT)

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