Northern Trust Corp decreased its position in Independence Holding (NYSE:IHC) by 5.0% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 84,899 shares of the financial services provider’s stock after selling 4,487 shares during the period. Northern Trust Corp owned approximately 0.58% of Independence worth $3,481,000 at the end of the most recent reporting period.
Other institutional investors have also recently modified their holdings of the company. BlackRock Inc. boosted its position in Independence by 6.1% in the fourth quarter. BlackRock Inc. now owns 298,341 shares of the financial services provider’s stock worth $12,231,000 after purchasing an additional 17,114 shares during the last quarter. Charles Schwab Investment Management Inc. increased its stake in shares of Independence by 43.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 47,212 shares of the financial services provider’s stock worth $1,781,000 after purchasing an additional 14,302 shares in the last quarter. Bank of New York Mellon Corp increased its stake in Independence by 1.9% in the 4th quarter. Bank of New York Mellon Corp now owns 30,889 shares of the financial services provider’s stock worth $1,267,000 after buying an additional 585 shares in the last quarter. Rhumbline Advisers lifted its position in shares of Independence by 13.4% in the fourth quarter. Rhumbline Advisers now owns 8,227 shares of the financial services provider’s stock valued at $337,000 after acquiring an additional 972 shares in the last quarter. Finally, Citigroup Inc. raised its stake in Independence by 130.3% during the 4th quarter. Citigroup Inc. now owns 1,004 shares of the financial services provider’s stock valued at $41,000 after purchasing an additional 568 shares during the period. 20.29% of the stock is owned by institutional investors and hedge funds.
NYSE IHC opened at $44.32 on Friday. The company has a market capitalization of $649.69 million, a P/E ratio of 158.29 and a beta of 0.72. The stock has a 50 day moving average price of $41.22 and a 200-day moving average price of $40.40. Independence Holding has a one year low of $24.27 and a one year high of $45.04.
Separately, TheStreet raised shares of Independence from a “c” rating to a “b-” rating in a research note on Thursday, April 8th.
Independence Holding Company, through its subsidiaries, engages in health, pet, and life insurance businesses. The company's dental portfolio includes indemnity and PPO plans for employer groups of two or more lives, and for individuals; 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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