30,302 Shares in Health Insurance Innovations, Inc. (HIIQ) Purchased by TIAA CREF Investment Management LLC

TIAA CREF Investment Management LLC acquired a new stake in shares of Health Insurance Innovations, Inc. (NASDAQ:HIIQ) in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund acquired 30,302 shares of the financial services provider’s stock, valued at approximately $712,000. TIAA CREF Investment Management LLC owned 0.26% of Health Insurance Innovations at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the company. Russell Investments Group Ltd. bought a new stake in shares of Health Insurance Innovations during the 2nd quarter valued at $14,467,000. Renaissance Technologies LLC lifted its stake in shares of Health Insurance Innovations by 180.6% during the 1st quarter. Renaissance Technologies LLC now owns 600,203 shares of the financial services provider’s stock valued at $9,603,000 after buying an additional 386,303 shares in the last quarter. Emerald Mutual Fund Advisers Trust lifted its stake in shares of Health Insurance Innovations by 12.5% during the 2nd quarter. Emerald Mutual Fund Advisers Trust now owns 448,955 shares of the financial services provider’s stock valued at $10,550,000 after buying an additional 50,000 shares in the last quarter. Vanguard Group Inc. lifted its stake in shares of Health Insurance Innovations by 92.2% during the 1st quarter. Vanguard Group Inc. now owns 406,293 shares of the financial services provider’s stock valued at $6,500,000 after buying an additional 194,907 shares in the last quarter. Finally, Timpani Capital Management LLC purchased a new position in shares of Health Insurance Innovations during the 2nd quarter valued at $3,674,000. 62.42% of the stock is owned by hedge funds and other institutional investors.

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A number of research analysts recently weighed in on the stock. Zacks Investment Research upgraded shares of Health Insurance Innovations from a “hold” rating to a “strong-buy” rating and set a $24.00 target price on the stock in a research note on Tuesday, October 17th. Cantor Fitzgerald restated a “buy” rating and set a $38.00 target price on shares of Health Insurance Innovations in a research note on Friday, September 1st. Northland Securities restated a “buy” rating and set a $37.00 target price on shares of Health Insurance Innovations in a research note on Tuesday, October 17th. Canaccord Genuity set a $39.00 target price on shares of Health Insurance Innovations and gave the company a “buy” rating in a research note on Sunday. Finally, ValuEngine upgraded shares of Health Insurance Innovations from a “hold” rating to a “buy” rating in a research note on Friday, September 1st. One analyst has rated the stock with a hold rating, seven have issued a buy rating and two have issued a strong buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus price target of $30.86.

In other Health Insurance Innovations news, CEO of HealthPocket Bruce Telkamp sold 9,970 shares of the business’s stock in a transaction on Friday, September 1st. The shares were sold at an average price of $36.19, for a total value of $360,814.30. Following the sale, the insider now owns 19,500 shares in the company, valued at approximately $705,705. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Robert S. Murley purchased 3,000 shares of the firm’s stock in a transaction on Friday, September 1st. The stock was bought at an average price of $30.21 per share, for a total transaction of $90,630.00. Following the purchase, the director now owns 34,734 shares in the company, valued at $1,049,314.14. The disclosure for this purchase can be found here. In the last quarter, insiders sold 48,576 shares of company stock worth $1,584,152. Corporate insiders own 30.00% of the company’s stock.

Shares of Health Insurance Innovations, Inc. (HIIQ) opened at $24.25 on Wednesday. The company has a market cap of $402.77, a price-to-earnings ratio of 16.57 and a beta of 0.63. Health Insurance Innovations, Inc. has a one year low of $8.30 and a one year 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 consensus estimate of $0.35 by $0.11. The business had revenue of $63.34 million for the quarter, compared to analysts’ expectations of $59.30 million. Health Insurance Innovations had a net margin of 5.98% and a return on equity of 21.32%. The business’s quarterly revenue was up 37.4% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.33 EPS. analysts expect that Health Insurance Innovations, Inc. will post 1.65 earnings per share for the current year.

Health Insurance Innovations announced that its Board of Directors has approved a stock repurchase program on Monday, October 16th that authorizes the company to repurchase $50.00 million in outstanding shares. This repurchase authorization authorizes the financial services provider to reacquire shares of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s leadership believes its shares are undervalued.

Health Insurance Innovations 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.

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

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