Independence (NYSE:IHC) Shares Cross Above 200 Day Moving Average of $45.31

Independence Holding (NYSE:IHC) shares crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $45.31 and traded as high as $49.57. Independence shares last traded at $49.43, with a volume of 1,640 shares changing hands.

The stock has a fifty day moving average of $47.05 and a 200-day moving average of $45.34. The company has a market cap of $721.95 million, a PE ratio of 7.52 and a beta of 0.91.

Independence (NYSE:IHC) last issued its earnings results on Monday, August 9th. The financial services provider reported ($0.03) earnings per share for the quarter. The firm had revenue of $49.33 million during the quarter. Independence had a return on equity of 3.23% and a net margin of 23.68%.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Cannell Capital LLC raised its position in shares of Independence by 14.3% in the 2nd quarter. Cannell Capital LLC now owns 502,760 shares of the financial services provider’s stock worth $23,288,000 after acquiring an additional 63,032 shares in the last quarter. BlackRock Inc. increased its position in Independence by 7.1% during the 1st quarter. BlackRock Inc. now owns 319,659 shares of the financial services provider’s stock valued at $12,738,000 after buying an additional 21,318 shares in the last quarter. TCW Group Inc. increased its position in Independence by 11.6% during the 2nd quarter. TCW Group Inc. now owns 317,705 shares of the financial services provider’s stock valued at $14,716,000 after buying an additional 32,974 shares in the last quarter. Dimensional Fund Advisors LP increased its position in Independence by 1.7% during the 2nd quarter. Dimensional Fund Advisors LP now owns 254,907 shares of the financial services provider’s stock valued at $11,807,000 after buying an additional 4,247 shares in the last quarter. Finally, Corsair Capital Management L.P. purchased a new stake in Independence during the 1st quarter valued at about $1,973,000. 21.91% of the stock is owned by hedge funds and other institutional investors.

About Independence (NYSE:IHC)

Independence Holding Co engages in the provision of health, pet and life insurance business. t operates through the following segments: Specialty Health; Group Disability, Life, Short-Term Disability (DBL), and Paid Family Leave Rider (PFL); Individual Life, Annuities and Other; and Corporate. The Specialty Health segment comprises of its traditional distribution through independent agents and national accounts, and through its call centers, career advisors, generation domains, transaction websites, and legal generation company.

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