Parsec Financial Management Inc. decreased its holdings in UnitedHealth Group Inc (NYSE:UNH) by 4.9% in the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 7,542 shares of the healthcare conglomerate’s stock after selling 388 shares during the period. Parsec Financial Management Inc.’s holdings in UnitedHealth Group were worth $1,865,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also bought and sold shares of UNH. Oregon Public Employees Retirement Fund grew its holdings in UnitedHealth Group by 50,446.5% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 53,349,795 shares of the healthcare conglomerate’s stock valued at $214,000 after buying an additional 53,244,249 shares during the period. Norges Bank acquired a new position in shares of UnitedHealth Group in the 4th quarter valued at about $2,343,175,000. BlackRock Inc. lifted its stake in shares of UnitedHealth Group by 3.1% in the 4th quarter. BlackRock Inc. now owns 69,831,381 shares of the healthcare conglomerate’s stock valued at $17,396,391,000 after purchasing an additional 2,123,417 shares in the last quarter. FMR LLC lifted its stake in shares of UnitedHealth Group by 1.9% in the 4th quarter. FMR LLC now owns 64,480,003 shares of the healthcare conglomerate’s stock valued at $16,063,258,000 after purchasing an additional 1,232,189 shares in the last quarter. Finally, Vanguard Group Inc lifted its stake in shares of UnitedHealth Group by 1.6% in the 3rd quarter. Vanguard Group Inc now owns 69,342,549 shares of the healthcare conglomerate’s stock valued at $18,447,892,000 after purchasing an additional 1,073,505 shares in the last quarter. Institutional investors own 85.74% of the company’s stock.
In other UnitedHealth Group news, CEO David S. Wichmann bought 20,000 shares of the business’s stock in a transaction on Friday, May 3rd. The shares were bought at an average cost of $231.79 per share, with a total value of $4,635,800.00. Following the transaction, the chief executive officer now directly owns 904,367 shares in the company, valued at approximately $209,623,226.93. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Richard T. Burke sold 10,000 shares of the company’s stock in a transaction that occurred on Wednesday, May 29th. The shares were sold at an average price of $241.99, for a total value of $2,419,900.00. Following the completion of the transaction, the director now directly owns 187,663 shares in the company, valued at $45,412,569.37. The disclosure for this sale can be found here. Insiders have sold a total of 32,930 shares of company stock worth $7,941,533 over the last three months. 0.82% of the stock is currently owned by corporate insiders.
Several research firms have recently weighed in on UNH. Zacks Investment Research raised UnitedHealth Group from a “hold” rating to a “buy” rating and set a $265.00 price objective on the stock in a research note on Friday, May 17th. Bank of America reaffirmed a “buy” rating and issued a $290.00 price objective (down from $320.00) on shares of UnitedHealth Group in a research note on Wednesday, April 17th. SunTrust Banks reduced their price objective on UnitedHealth Group to $300.00 and set a “buy” rating on the stock in a research note on Wednesday, April 17th. They noted that the move was a valuation call. ValuEngine lowered UnitedHealth Group from a “hold” rating to a “sell” rating in a research note on Thursday, April 18th. Finally, UBS Group began coverage on UnitedHealth Group in a research note on Tuesday, April 23rd. They issued a “neutral” rating and a $238.00 price objective on the stock. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, eighteen have issued a buy rating and one has issued a strong buy rating to the company. UnitedHealth Group presently has a consensus rating of “Buy” and a consensus price target of $290.84.
UnitedHealth Group stock opened at $245.87 on Wednesday. The company has a market cap of $234.52 billion, a P/E ratio of 19.09, a P/E/G ratio of 1.32 and a beta of 0.65. The company has a current ratio of 0.73, a quick ratio of 0.73 and a debt-to-equity ratio of 0.63. UnitedHealth Group Inc has a one year low of $208.07 and a one year high of $287.94.
UnitedHealth Group (NYSE:UNH) last released its quarterly earnings results on Tuesday, April 16th. The healthcare conglomerate reported $3.73 EPS for the quarter, topping the consensus estimate of $3.60 by $0.13. The firm had revenue of $60.30 billion for the quarter, compared to analyst estimates of $59.72 billion. UnitedHealth Group had a return on equity of 25.07% and a net margin of 5.45%. UnitedHealth Group’s revenue for the quarter was up 9.2% on a year-over-year basis. During the same period in the previous year, the company posted $3.04 EPS. Sell-side analysts expect that UnitedHealth Group Inc will post 14.71 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 25th. Investors of record on Monday, June 17th will be given a dividend of $1.08 per share. The ex-dividend date of this dividend is Friday, June 14th. This is a positive change from UnitedHealth Group’s previous quarterly dividend of $0.90. This represents a $4.32 annualized dividend and a yield of 1.76%. UnitedHealth Group’s payout ratio is 27.95%.
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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 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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