AGF Investments Inc. boosted its stake in UnitedHealth Group Inc (NYSE:UNH) by 64.7% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 348,593 shares of the healthcare conglomerate’s stock after purchasing an additional 136,921 shares during the period. AGF Investments Inc.’s holdings in UnitedHealth Group were worth $85,524,000 at the end of the most recent quarter.
A number of other large investors also recently bought and sold shares of UNH. Welch Group LLC bought a new stake in shares of UnitedHealth Group during the 2nd quarter valued at $106,000. Blue Chip Partners Inc. bought a new stake in shares of UnitedHealth Group during the 2nd quarter valued at $107,000. Bamco Inc. NY bought a new stake in shares of UnitedHealth Group during the 1st quarter valued at $117,000. Northwest Wealth Management LLC bought a new stake in shares of UnitedHealth Group during the 2nd quarter valued at $117,000. Finally, Bruderman Asset Management LLC bought a new stake in shares of UnitedHealth Group during the 1st quarter valued at $134,000. 85.39% of the stock is owned by institutional investors and hedge funds.
UNH has been the subject of a number of recent research reports. Zacks Investment Research raised shares of UnitedHealth Group from a “hold” rating to a “buy” rating and set a $278.00 price objective for the company in a research report on Wednesday, May 23rd. BMO Capital Markets boosted their price objective on shares of UnitedHealth Group from $275.00 to $285.00 and gave the company a “buy” rating in a research report on Thursday, June 7th. SunTrust Banks initiated coverage on shares of UnitedHealth Group in a research report on Monday, June 11th. They set a “buy” rating and a $300.00 price objective for the company. Cantor Fitzgerald reissued a “buy” rating and set a $300.00 price objective on shares of UnitedHealth Group in a research report on Thursday, July 5th. Finally, Goldman Sachs Group reissued a “buy” rating and set a $277.00 price objective on shares of UnitedHealth Group in a research report on Tuesday, July 17th. Two research analysts have rated the stock with a hold rating and twenty-one have assigned a buy rating to the company. UnitedHealth Group has a consensus rating of “Buy” and an average price target of $272.43.
In related news, CEO Steven H. Nelson sold 26,033 shares of UnitedHealth Group stock in a transaction on Friday, September 7th. The shares were sold at an average price of $270.65, for a total transaction of $7,045,831.45. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Richard T. Burke sold 20,000 shares of UnitedHealth Group stock in a transaction on Wednesday, September 12th. The shares were sold at an average price of $263.41, for a total transaction of $5,268,200.00. Following the transaction, the director now owns 1,720,112 shares in the company, valued at approximately $453,094,701.92. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 86,603 shares of company stock worth $22,837,660. 0.87% of the stock is owned by corporate insiders.
UNH opened at $265.31 on Monday. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.75 and a current ratio of 0.75. UnitedHealth Group Inc has a fifty-two week low of $186.00 and a fifty-two week high of $271.16. The firm has a market cap of $252.81 billion, a P/E ratio of 22.98, a PEG ratio of 1.56 and a beta of 0.71.
UnitedHealth Group (NYSE:UNH) last released its earnings results on Tuesday, July 17th. The healthcare conglomerate reported $3.14 earnings per share for the quarter, beating analysts’ consensus estimates of $3.04 by $0.10. UnitedHealth Group had a net margin of 5.55% and a return on equity of 22.79%. The company had revenue of $56.09 billion for the quarter, compared to analysts’ expectations of $56.10 billion. During the same quarter in the previous year, the company earned $2.46 EPS. UnitedHealth Group’s revenue for the quarter was up 12.1% on a year-over-year basis. equities analysts expect that UnitedHealth Group Inc will post 12.72 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 18th. Investors of record on Friday, September 7th will be paid a dividend of $0.90 per share. This represents a $3.60 dividend on an annualized basis and a dividend yield of 1.36%. The ex-dividend date is Thursday, September 6th. UnitedHealth Group’s dividend payout ratio (DPR) is 35.75%.
UnitedHealth Group announced that its Board of Directors has approved a stock repurchase program on Wednesday, June 6th that authorizes the company to repurchase 100,000,000 outstanding shares. This repurchase authorization authorizes the healthcare conglomerate to reacquire shares of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s leadership believes its shares are undervalued.
About UnitedHealth Group
UnitedHealth Group Incorporated operates as a diversified health care company in the United States. It operates through four segments: UnitedHealthcare, OptumHealth, OptumInsight, and OptumRx. The UnitedHealthcare segment offers consumer-oriented health benefit plans and services for national employers, public sector employers, mid-sized employers, small businesses, and individuals; health care coverage, and health and well-being services to individuals age 50 and older, addressing their needs for preventive and acute health care services, as well as services dealing with chronic disease and other specialized issues for older individuals; and Medicaid plans, Children's Health Insurance Program, and health care programs; and health and dental benefits.
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