Corebridge Financial Inc. Cuts Stock Position in HealthEquity, Inc. $HQY

Key Points

• Corebridge Financial Inc. reduced its position in HealthEquity, Inc. by 2.6% during the first quarter, owning 137,179 shares valued at $12.1 million after selling 3,686 shares.
• Multiple hedge funds, including Northwestern Mutual and Larson Financial Group, significantly increased their stakes in HealthEquity, with increases of 176.4% and 1,366.0% respectively during the same period.
• HealthEquity recently reported earnings that surpassed estimates, with $0.97 EPS against a consensus estimate of $0.81 and a revenue of $330.8 million, exceeding predictions of $322.25 million.

Corebridge Financial Inc. lessened its holdings in HealthEquity, Inc. (NASDAQ:HQY - Free Report) by 2.6% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 137,179 shares of the company's stock after selling 3,686 shares during the period. Corebridge Financial Inc. owned about 0.16% of HealthEquity worth $12,123,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Versant Capital Management Inc purchased a new stake in HealthEquity during the 1st quarter worth $28,000. Northwestern Mutual Wealth Management Co. increased its stake in HealthEquity by 176.4% during the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 655 shares of the company's stock worth $58,000 after buying an additional 418 shares during the period. Larson Financial Group LLC increased its stake in HealthEquity by 1,366.0% during the 1st quarter. Larson Financial Group LLC now owns 689 shares of the company's stock worth $61,000 after buying an additional 642 shares during the period. BI Asset Management Fondsmaeglerselskab A S purchased a new stake in HealthEquity during the 1st quarter worth $65,000. Finally, Whipplewood Advisors LLC increased its stake in HealthEquity by 5,060.0% during the 1st quarter. Whipplewood Advisors LLC now owns 774 shares of the company's stock worth $68,000 after buying an additional 759 shares during the period. Hedge funds and other institutional investors own 99.55% of the company's stock.

Insider Activity

In other news, EVP Michael Henry Fiore sold 1,794 shares of HealthEquity stock in a transaction dated Monday, July 7th. The shares were sold at an average price of $101.73, for a total value of $182,503.62. Following the completion of the transaction, the executive vice president directly owned 53,225 shares of the company's stock, valued at approximately $5,414,579.25. The trade was a 3.26% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Jon Kessler sold 134,183 shares of HealthEquity stock in a transaction dated Friday, June 6th. The shares were sold at an average price of $112.08, for a total transaction of $15,039,230.64. Following the completion of the transaction, the director directly owned 253,510 shares of the company's stock, valued at $28,413,400.80. This trade represents a 34.61% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 291,744 shares of company stock valued at $32,705,007. Company insiders own 1.50% of the company's stock.

HealthEquity Price Performance

Shares of HQY stock opened at $89.33 on Wednesday. The firm has a market cap of $7.72 billion, a P/E ratio of 65.20, a P/E/G ratio of 1.35 and a beta of 0.54. The company has a debt-to-equity ratio of 0.50, a current ratio of 4.06 and a quick ratio of 4.06. HealthEquity, Inc. has a 1-year low of $73.84 and a 1-year high of $116.65. The firm has a fifty day moving average of $96.29 and a two-hundred day moving average of $96.21.

HealthEquity (NASDAQ:HQY - Get Free Report) last announced its quarterly earnings data on Tuesday, June 3rd. The company reported $0.97 earnings per share for the quarter, topping the consensus estimate of $0.81 by $0.16. The company had revenue of $330.80 million during the quarter, compared to analyst estimates of $322.25 million. HealthEquity had a net margin of 9.80% and a return on equity of 11.01%. During the same period last year, the business earned $0.80 EPS. HealthEquity has set its FY 2026 guidance at 3.610-3.78 EPS. As a group, research analysts anticipate that HealthEquity, Inc. will post 2.32 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research firms recently issued reports on HQY. Wall Street Zen raised shares of HealthEquity from a "hold" rating to a "buy" rating in a research note on Friday, June 6th. Barrington Research lifted their price target on shares of HealthEquity from $112.00 to $125.00 and gave the stock an "outperform" rating in a research note on Thursday, June 5th. Raymond James Financial reaffirmed a "strong-buy" rating and set a $120.00 price target (up previously from $115.00) on shares of HealthEquity in a research note on Tuesday, July 8th. Deutsche Bank Aktiengesellschaft lifted their price target on shares of HealthEquity from $98.00 to $115.00 and gave the stock a "buy" rating in a research note on Thursday, June 5th. Finally, The Goldman Sachs Group raised their price objective on shares of HealthEquity from $94.00 to $104.00 and gave the stock a "neutral" rating in a report on Wednesday, June 4th. One analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and one has issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Buy" and a consensus price target of $118.55.

About HealthEquity

HealthEquity, Inc provides technology-enabled services platforms to consumers and employers in the United States. The company offers cloud-based platforms for individuals to make health saving and spending decisions, pay healthcare bills, receive personalized benefit information, earn wellness incentives, grow their savings, and make investment choices; and health savings accounts.

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