Harvest Fund Management Co. Ltd boosted its stake in shares of UnitedHealth Group Inc (NYSE:UNH) by 164.5% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 5,639 shares of the healthcare conglomerate’s stock after purchasing an additional 3,507 shares during the period. UnitedHealth Group comprises about 0.3% of Harvest Fund Management Co. Ltd’s investment portfolio, making the stock its 26th biggest position. Harvest Fund Management Co. Ltd’s holdings in UnitedHealth Group were worth $1,500,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. WoodTrust Financial Corp increased its holdings in shares of UnitedHealth Group by 2.5% in the third quarter. WoodTrust Financial Corp now owns 7,823 shares of the healthcare conglomerate’s stock worth $2,081,000 after purchasing an additional 189 shares during the last quarter. Advisors Capital Management LLC increased its holdings in shares of UnitedHealth Group by 15.2% in the third quarter. Advisors Capital Management LLC now owns 1,437 shares of the healthcare conglomerate’s stock worth $382,000 after purchasing an additional 190 shares during the last quarter. Chicago Partners Investment Group LLC increased its holdings in shares of UnitedHealth Group by 26.5% in the second quarter. Chicago Partners Investment Group LLC now owns 920 shares of the healthcare conglomerate’s stock worth $226,000 after purchasing an additional 193 shares during the last quarter. Highland Capital Management LLC increased its holdings in shares of UnitedHealth Group by 0.5% in the third quarter. Highland Capital Management LLC now owns 36,128 shares of the healthcare conglomerate’s stock worth $9,612,000 after purchasing an additional 194 shares during the last quarter. Finally, OLD Mutual Customised Solutions Proprietary Ltd. increased its holdings in shares of UnitedHealth Group by 1.2% in the second quarter. OLD Mutual Customised Solutions Proprietary Ltd. now owns 17,096 shares of the healthcare conglomerate’s stock worth $4,194,000 after purchasing an additional 200 shares during the last quarter. Institutional investors own 85.43% of the company’s stock.
Shares of NYSE:UNH opened at $263.54 on Wednesday. UnitedHealth Group Inc has a 1 year low of $208.48 and a 1 year high of $272.81. The company has a market cap of $251.22 billion, a price-to-earnings ratio of 26.17, a price-to-earnings-growth ratio of 1.50 and a beta of 0.78. The company has a quick ratio of 0.75, a current ratio of 0.69 and a debt-to-equity ratio of 0.61.
UnitedHealth Group (NYSE:UNH) last announced its earnings results on Tuesday, October 16th. The healthcare conglomerate reported $3.41 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $3.30 by $0.11. UnitedHealth Group had a return on equity of 23.62% and a net margin of 5.71%. The business had revenue of $56.56 billion during the quarter, compared to analyst estimates of $56.34 billion. During the same quarter in the previous year, the business earned $2.66 earnings per share. The company’s revenue for the quarter was up 12.4% compared to the same quarter last year. Analysts anticipate that UnitedHealth Group Inc will post 12.81 EPS for the current fiscal year.
Several equities research analysts have recently issued reports on the company. BMO Capital Markets lifted their target price on UnitedHealth Group to $310.00 and gave the stock an “outperform” rating in a report on Thursday, October 18th. Goldman Sachs Group reaffirmed a “buy” rating and issued a $277.00 target price on shares of UnitedHealth Group in a report on Tuesday, July 17th. Piper Jaffray Companies lifted their target price on UnitedHealth Group to $300.00 and gave the stock an “overweight” rating in a report on Wednesday, October 17th. Royal Bank of Canada lifted their target price on UnitedHealth Group from $282.00 to $284.00 and gave the stock a “$255.42” rating in a report on Wednesday, July 18th. Finally, Raymond James lifted their target price on UnitedHealth Group from $304.00 to $310.00 and gave the stock a “strong-buy” rating in a report on Wednesday, October 17th. One investment analyst has rated the stock with a hold rating, twenty-two have issued a buy rating and one has assigned a strong buy rating to the stock. UnitedHealth Group has a consensus rating of “Buy” and an average target price of $289.41.
In related news, EVP D Ellen Wilson sold 15,393 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the executive vice president now owns 66,402 shares in the company, valued at $17,549,384.58. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Steven H. Nelson sold 26,033 shares of the business’s stock in a transaction that occurred on Friday, September 7th. The shares were sold at an average price of $270.65, for a total value of $7,045,831.45. The disclosure for this sale can be found here. Insiders sold 69,568 shares of company stock valued at $18,539,877 in the last quarter. 0.87% of the stock is owned by company insiders.
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UnitedHealth Group Profile
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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