Ladenburg Thalmann Financial Services Inc. Raises Position in Ebix Inc (EBIX)
Ladenburg Thalmann Financial Services Inc. boosted its position in shares of Ebix Inc (NASDAQ:EBIX) by 187.5% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,301 shares of the technology company’s stock after acquiring an additional 2,153 shares during the period. Ladenburg Thalmann Financial Services Inc.’s holdings in Ebix were worth $215,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Cubist Systematic Strategies LLC bought a new position in Ebix during the third quarter valued at about $583,000. Granahan Investment Management Inc. MA increased its stake in Ebix by 144.3% during the third quarter. Granahan Investment Management Inc. MA now owns 169,912 shares of the technology company’s stock valued at $11,087,000 after acquiring an additional 100,371 shares during the period. Janus Henderson Group PLC bought a new position in Ebix during the third quarter valued at about $214,000. Cornerstone Capital Management Holdings LLC. bought a new position in Ebix during the third quarter valued at about $2,296,000. Finally, Schwab Charles Investment Management Inc. increased its stake in Ebix by 2.2% during the third quarter. Schwab Charles Investment Management Inc. now owns 133,853 shares of the technology company’s stock valued at $8,734,000 after acquiring an additional 2,827 shares during the period. Hedge funds and other institutional investors own 62.76% of the company’s stock.
Several brokerages recently issued reports on EBIX. Sidoti boosted their price target on Ebix from $88.00 to $90.00 and gave the company a “buy” rating in a research note on Tuesday, December 19th. Zacks Investment Research lowered Ebix from a “buy” rating to a “hold” rating in a research note on Tuesday, November 28th. Craig Hallum restated a “buy” rating and set a $87.00 price target (up from $80.00) on shares of Ebix in a research note on Thursday, November 9th. Finally, William Blair began coverage on Ebix in a research note on Wednesday, September 27th. They set an “outperform” rating on the stock. Two analysts have rated the stock with a hold rating and three have given a buy rating to the stock. The stock has a consensus rating of “Buy” and an average target price of $87.00.
The business also recently disclosed a quarterly dividend, which was paid on Friday, December 15th. Stockholders of record on Thursday, November 30th were paid a $0.075 dividend. The ex-dividend date of this dividend was Wednesday, November 29th. This represents a $0.30 annualized dividend and a dividend yield of 0.38%. Ebix’s dividend payout ratio is currently 9.71%.
In other news, CFO Sean T. Donaghy sold 600 shares of the company’s stock in a transaction that occurred on Thursday, November 16th. The stock was sold at an average price of $75.56, for a total value of $45,336.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, EVP Leon Royden Thomas D’apice sold 3,500 shares of the company’s stock in a transaction that occurred on Friday, December 15th. The shares were sold at an average price of $77.45, for a total value of $271,075.00. Following the completion of the sale, the executive vice president now owns 63,971 shares in the company, valued at $4,954,553.95. The disclosure for this sale can be found here. Over the last quarter, insiders sold 6,950 shares of company stock worth $525,316. Corporate insiders own 13.80% of the company’s stock.
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Ebix Company Profile
Ebix, Inc (Ebix) is a supplier of software and e-commerce solutions to the insurance industry. Ebix provides application software products for the insurance industry, including carrier systems, agency systems and exchanges, as well as custom software development. Ebix conducts its operations through four channels, which include Exchanges, Carrier Systems, Broker Systems and Risk Compliance Solutions (RCS).
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