Legal & General Group Plc lifted its stake in shares of Ebix Inc (NASDAQ:EBIX) by 5.4% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 48,514 shares of the technology company’s stock after buying an additional 2,487 shares during the period. Legal & General Group Plc owned about 0.15% of Ebix worth $3,696,000 as of its most recent SEC filing.
Several other large investors also recently made changes to their positions in the company. Wells Fargo & Company MN increased its holdings in shares of Ebix by 1.5% during the first quarter. Wells Fargo & Company MN now owns 51,107 shares of the technology company’s stock worth $3,807,000 after buying an additional 762 shares in the last quarter. KBC Group NV increased its holdings in shares of Ebix by 4.5% during the first quarter. KBC Group NV now owns 18,553 shares of the technology company’s stock worth $1,382,000 after buying an additional 796 shares in the last quarter. Marathon Capital Management increased its holdings in shares of Ebix by 21.3% during the second quarter. Marathon Capital Management now owns 4,850 shares of the technology company’s stock worth $369,000 after buying an additional 850 shares in the last quarter. Great West Life Assurance Co. Can increased its holdings in shares of Ebix by 3.4% during the first quarter. Great West Life Assurance Co. Can now owns 29,021 shares of the technology company’s stock worth $2,163,000 after buying an additional 945 shares in the last quarter. Finally, Victory Capital Management Inc. increased its holdings in shares of Ebix by 12.3% during the second quarter. Victory Capital Management Inc. now owns 8,660 shares of the technology company’s stock worth $660,000 after buying an additional 948 shares in the last quarter. Institutional investors own 67.84% of the company’s stock.
Several research analysts have recently issued reports on EBIX shares. Maxim Group started coverage on shares of Ebix in a report on Thursday, July 12th. They set a “buy” rating and a $108.00 price target for the company. BidaskClub upgraded shares of Ebix from a “hold” rating to a “buy” rating in a report on Tuesday, July 24th. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average target price of $100.00.
Ebix (NASDAQ:EBIX) last posted its quarterly earnings data on Wednesday, August 8th. The technology company reported $0.92 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.89 by $0.03. The business had revenue of $124.60 million during the quarter, compared to the consensus estimate of $111.41 million. Ebix had a return on equity of 19.99% and a net margin of 24.67%. Ebix’s revenue was up 42.6% compared to the same quarter last year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, September 14th. Investors of record on Friday, August 31st were issued a $0.75 dividend. This represents a $3.00 dividend on an annualized basis and a yield of 3.78%. This is an increase from Ebix’s previous quarterly dividend of $0.08. The ex-dividend date of this dividend was Thursday, August 30th. Ebix’s dividend payout ratio is presently 9.46%.
Ebix Company Profile
Ebix, Inc provides software and e-commerce solutions to insurance, finance, and healthcare industries. It offers software development, customization, and consulting services to various entities in the insurance industry, including carriers, brokers, exchanges, and standard making bodies. The company operates data exchanges in the areas of life insurance, annuities, employee health benefits, risk management, workers compensation, insurance underwriting, and property and casualty (P&C) insurance.
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