Principal Financial Group Inc. lifted its position in HealthEquity, Inc. (NASDAQ:HQY – Free Report) by 9.6% in the first quarter, Holdings Channel reports. The firm owned 304,049 shares of the company’s stock after buying an additional 26,632 shares during the period. Principal Financial Group Inc.’s holdings in HealthEquity were worth $25,409,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently bought and sold shares of the company. Capricorn Fund Managers Ltd acquired a new stake in shares of HealthEquity in the 4th quarter worth $6,926,000. Congress Asset Management Co. increased its position in HealthEquity by 36.3% during the 4th quarter. Congress Asset Management Co. now owns 101,816 shares of the company’s stock valued at $9,327,000 after buying an additional 27,102 shares in the last quarter. Oxbow Advisors LLC acquired a new position in HealthEquity during the 1st quarter valued at about $3,147,000. Westfield Capital Management Co. LP raised its stake in HealthEquity by 13.7% in the fourth quarter. Westfield Capital Management Co. LP now owns 1,952,452 shares of the company’s stock valued at $178,864,000 after buying an additional 235,794 shares during the last quarter. Finally, Sumitomo Mitsui DS Asset Management Company Ltd purchased a new stake in HealthEquity in the fourth quarter valued at about $4,381,000. Institutional investors own 99.55% of the company’s stock.
HealthEquity Stock Up 1.2%
Shares of HQY stock opened at $98.88 on Tuesday. HealthEquity, Inc. has a twelve month low of $72.76 and a twelve month high of $105.96. The stock has a market cap of $8.27 billion, a P/E ratio of 37.03, a P/E/G ratio of 1.64 and a beta of 0.21. The stock has a 50 day moving average of $89.10 and a 200 day moving average of $84.77. The company has a current ratio of 3.44, a quick ratio of 3.44 and a debt-to-equity ratio of 0.46.
Insider Activity at HealthEquity
In related news, EVP Michael Henry Fiore sold 3,142 shares of the stock in a transaction on Friday, May 29th. The shares were sold at an average price of $95.00, for a total transaction of $298,490.00. Following the sale, the executive vice president directly owned 59,113 shares of the company’s stock, valued at approximately $5,615,735. This represents a 5.05% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Gayle Furgurson Wellborn sold 2,439 shares of the firm’s stock in a transaction on Thursday, May 28th. The shares were sold at an average price of $90.00, for a total transaction of $219,510.00. Following the sale, the director owned 19,733 shares in the company, valued at approximately $1,775,970. This represents a 11.00% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 17,905 shares of company stock worth $1,651,280 in the last three months. Company insiders own 1.60% of the company’s stock.
Analyst Upgrades and Downgrades
HQY has been the topic of a number of research analyst reports. Wall Street Zen lowered HealthEquity from a “buy” rating to a “hold” rating in a research note on Saturday, July 4th. KeyCorp reaffirmed an “overweight” rating on shares of HealthEquity in a research report on Tuesday, May 26th. Royal Bank Of Canada lifted their target price on shares of HealthEquity from $100.00 to $108.00 and gave the stock an “outperform” rating in a research note on Wednesday, June 3rd. Wells Fargo & Company set a $111.00 target price on shares of HealthEquity in a research report on Monday, June 1st. Finally, Barrington Research restated an “outperform” rating and set a $110.00 price target on shares of HealthEquity in a research note on Friday, May 22nd. Eleven investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $110.57.
Get Our Latest Stock Report on HealthEquity
HealthEquity Company Profile
HealthEquity, Inc (NASDAQ: HQY) is a leading administrator of consumer-directed health accounts and related benefit solutions in the United States. Founded in 2002 and headquartered in Draper, Utah, the company specializes in health savings accounts (HSAs) and offers complementary services such as flexible spending accounts (FSAs), health reimbursement arrangements (HRAs), COBRA administration and commuter benefits. Through its technology-driven platform, HealthEquity enables employers, health plans and individuals to streamline account management, improve cost transparency and encourage more informed healthcare spending.
Serving millions of members across all 50 states, HealthEquity leverages an open-architecture ecosystem that integrates with health plans, payroll providers and financial institutions.
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