Groesbeck Investment Management Corp NJ Reduces Position in UnitedHealth Group Inc (UNH)

Groesbeck Investment Management Corp NJ cut its position in shares of UnitedHealth Group Inc (NYSE:UNH) by 1.3% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 20,974 shares of the healthcare conglomerate’s stock after selling 280 shares during the period. UnitedHealth Group makes up about 3.8% of Groesbeck Investment Management Corp NJ’s portfolio, making the stock its 3rd biggest holding. Groesbeck Investment Management Corp NJ’s holdings in UnitedHealth Group were worth $5,580,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the stock. FMR LLC lifted its stake in shares of UnitedHealth Group by 5.1% in the 2nd quarter. FMR LLC now owns 61,622,355 shares of the healthcare conglomerate’s stock valued at $15,118,428,000 after purchasing an additional 2,981,233 shares during the last quarter. Wells Fargo & Company MN lifted its stake in shares of UnitedHealth Group by 0.5% in the 2nd quarter. Wells Fargo & Company MN now owns 7,692,899 shares of the healthcare conglomerate’s stock valued at $1,887,377,000 after purchasing an additional 39,480 shares during the last quarter. Jennison Associates LLC lifted its stake in shares of UnitedHealth Group by 12.0% in the 2nd quarter. Jennison Associates LLC now owns 6,616,652 shares of the healthcare conglomerate’s stock valued at $1,623,329,000 after purchasing an additional 710,745 shares during the last quarter. Summit Trail Advisors LLC lifted its stake in shares of UnitedHealth Group by 19,286.4% in the 1st quarter. Summit Trail Advisors LLC now owns 6,228,065 shares of the healthcare conglomerate’s stock valued at $6,228,000 after purchasing an additional 6,195,939 shares during the last quarter. Finally, Morgan Stanley lifted its stake in shares of UnitedHealth Group by 5.2% in the 2nd quarter. Morgan Stanley now owns 5,498,557 shares of the healthcare conglomerate’s stock valued at $1,349,017,000 after purchasing an additional 269,652 shares during the last quarter. 85.42% of the stock is owned by institutional investors.

Several equities research analysts have recently issued reports on the company. Bank of America raised their price objective on UnitedHealth Group from $315.00 to $320.00 and gave the company a “buy” rating in a research note on Wednesday. Jefferies Financial Group raised their price objective on UnitedHealth Group from $270.00 to $311.00 and gave the company a “buy” rating in a research note on Wednesday, October 3rd. ValuEngine raised UnitedHealth Group from a “hold” rating to a “buy” rating in a research note on Tuesday, October 2nd. Morgan Stanley raised their price objective on UnitedHealth Group from $278.00 to $305.00 and gave the company an “overweight” rating in a research note on Wednesday, September 5th. Finally, Citigroup downgraded UnitedHealth Group from a “buy” rating to a “neutral” rating and set a $288.00 price target on the stock. in a report on Monday, September 10th. One investment analyst has rated the stock with a hold rating, twenty-three have given a buy rating and one has assigned a strong buy rating to the stock. UnitedHealth Group currently has an average rating of “Buy” and an average price target of $289.41.

In other UnitedHealth Group news, Director Richard T. Burke sold 15,000 shares of the firm’s stock in a transaction on Wednesday, August 1st. The stock was sold at an average price of $254.79, for a total transaction of $3,821,850.00. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP D Ellen Wilson sold 15,393 shares of the firm’s stock in a transaction on Friday, August 24th. The stock was sold at an average price of $264.29, for a total value of $4,068,215.97. Following the transaction, the executive vice president now owns 66,402 shares in the company, valued at $17,549,384.58. The disclosure for this sale can be found here. Insiders have sold a total of 94,568 shares of company stock worth $24,950,027 over the last 90 days. 0.87% of the stock is currently owned by company insiders.

Shares of NYSE UNH opened at $265.30 on Friday. The company has a current ratio of 0.69, a quick ratio of 0.75 and a debt-to-equity ratio of 0.61. UnitedHealth Group Inc has a fifty-two week low of $203.69 and a fifty-two week high of $272.81. The company has a market capitalization of $256.80 billion, a PE ratio of 26.35, a price-to-earnings-growth ratio of 1.54 and a beta of 0.73.

UnitedHealth Group (NYSE:UNH) last issued its quarterly earnings results on Tuesday, October 16th. The healthcare conglomerate reported $3.41 earnings per share for the quarter, topping the consensus estimate of $3.30 by $0.11. The firm had revenue of $56.56 billion for the quarter, compared to the consensus estimate of $56.34 billion. UnitedHealth Group had a return on equity of 23.62% and a net margin of 5.71%. The company’s revenue for the quarter was up 12.4% on a year-over-year basis. During the same period in the prior year, the business posted $2.66 earnings per share. On average, equities research analysts anticipate that UnitedHealth Group Inc will post 12.81 earnings per share for the current year.

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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Institutional Ownership by Quarter for UnitedHealth Group (NYSE:UNH)

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