Independence (NYSE:IHC) Upgraded to “Hold” at ValuEngine

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Independence (NYSE:IHC) was upgraded by analysts at ValuEngine from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Friday, ValuEngine reports.

Shares of NYSE:IHC traded down $2.03 during trading on Friday, hitting $38.41. 9,600 shares of the stock were exchanged, compared to its average volume of 6,611. Independence has a 1-year low of $33.37 and a 1-year high of $43.60. The company has a market capitalization of $613.65 million, a price-to-earnings ratio of 21.70 and a beta of 0.16. The company’s fifty day simple moving average is $41.55 and its 200-day simple moving average is $39.92.

Large investors have recently made changes to their positions in the company. Tower Research Capital LLC TRC grew its holdings in shares of Independence by 2,180.8% during the 4th quarter. Tower Research Capital LLC TRC now owns 593 shares of the financial services provider’s stock worth $25,000 after purchasing an additional 567 shares in the last quarter. Citigroup Inc. grew its holdings in shares of Independence by 80.5% during the 4th quarter. Citigroup Inc. now owns 1,173 shares of the financial services provider’s stock worth $49,000 after purchasing an additional 523 shares in the last quarter. Russell Investments Group Ltd. acquired a new stake in shares of Independence during the 3rd quarter worth approximately $70,000. Denali Advisors LLC acquired a new stake in Independence in the 4th quarter valued at $120,000. Finally, Barclays PLC boosted its stake in Independence by 101.1% in the 4th quarter. Barclays PLC now owns 5,066 shares of the financial services provider’s stock valued at $213,000 after buying an additional 2,547 shares in the last quarter. 18.90% of the stock is currently owned by institutional investors.

About Independence

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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To view ValuEngine’s full report, visit ValuEngine’s official website.

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