Sunbelt Securities Inc. raised its stake in UnitedHealth Group Inc (NYSE:UNH) by 75.9% during the second quarter, HoldingsChannel.com reports. The institutional investor owned 4,629 shares of the healthcare conglomerate’s stock after buying an additional 1,998 shares during the period. Sunbelt Securities Inc.’s holdings in UnitedHealth Group were worth $1,130,000 at the end of the most recent reporting period.
A number of other institutional investors also recently modified their holdings of the business. FMR LLC boosted its position in UnitedHealth Group by 1.9% in the fourth quarter. FMR LLC now owns 64,480,003 shares of the healthcare conglomerate’s stock valued at $16,063,258,000 after buying an additional 1,232,189 shares in the last quarter. Geode Capital Management LLC lifted its holdings in shares of UnitedHealth Group by 9.1% during the fourth quarter. Geode Capital Management LLC now owns 11,593,401 shares of the healthcare conglomerate’s stock worth $2,882,988,000 after purchasing an additional 965,763 shares during the period. Norges Bank acquired a new position in shares of UnitedHealth Group during the fourth quarter worth $2,343,175,000. Janus Henderson Group PLC lifted its holdings in shares of UnitedHealth Group by 16.7% during the second quarter. Janus Henderson Group PLC now owns 6,448,289 shares of the healthcare conglomerate’s stock worth $1,573,438,000 after purchasing an additional 922,290 shares during the period. Finally, American Century Companies Inc. lifted its holdings in shares of UnitedHealth Group by 12.8% during the fourth quarter. American Century Companies Inc. now owns 5,678,706 shares of the healthcare conglomerate’s stock worth $1,414,679,000 after purchasing an additional 644,872 shares during the period. Hedge funds and other institutional investors own 85.65% of the company’s stock.
In related news, Director William C. Ballard, Jr. sold 12,000 shares of the business’s stock in a transaction on Tuesday, July 23rd. The shares were sold at an average price of $255.31, for a total value of $3,063,720.00. Following the transaction, the director now owns 61,309 shares in the company, valued at $15,652,800.79. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Director Richard T. Burke sold 10,000 shares of the business’s stock in a transaction on Wednesday, May 29th. The shares were sold at an average price of $241.99, for a total transaction of $2,419,900.00. Following the completion of the transaction, the director now owns 187,663 shares in the company, valued at approximately $45,412,569.37. The disclosure for this sale can be found here. In the last 90 days, insiders sold 37,000 shares of company stock worth $9,195,620. 0.82% of the stock is owned by company insiders.
UNH stock traded down $3.88 during midday trading on Wednesday, hitting $245.34. The stock had a trading volume of 207,514 shares, compared to its average volume of 4,651,164. The firm has a market cap of $235.62 billion, a price-to-earnings ratio of 19.08, a P/E/G ratio of 1.33 and a beta of 0.61. The company has a current ratio of 0.67, a quick ratio of 0.67 and a debt-to-equity ratio of 0.62. UnitedHealth Group Inc has a 1-year low of $208.07 and a 1-year high of $287.94. The company’s fifty day moving average price is $251.38.
UnitedHealth Group (NYSE:UNH) last released its earnings results on Thursday, July 18th. The healthcare conglomerate reported $3.60 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.46 by $0.14. The business had revenue of $60.60 billion for the quarter, compared to analyst estimates of $60.59 billion. UnitedHealth Group had a net margin of 5.51% and a return on equity of 25.20%. UnitedHealth Group’s revenue for the quarter was up 8.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $3.14 earnings per share. Analysts predict that UnitedHealth Group Inc will post 14.82 EPS for the current fiscal year.
A number of equities analysts have recently commented on the stock. UBS Group assumed coverage on shares of UnitedHealth Group in a report on Tuesday, April 23rd. They set a “neutral” rating and a $238.00 price target on the stock. Cantor Fitzgerald set a $310.00 price target on shares of UnitedHealth Group and gave the stock a “buy” rating in a report on Friday, July 19th. SunTrust Banks cut their price target on shares of UnitedHealth Group to $300.00 and set a “buy” rating on the stock in a report on Wednesday, April 17th. They noted that the move was a valuation call. Citigroup upgraded shares of UnitedHealth Group from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $247.00 to $280.00 in a report on Friday, May 10th. Finally, Royal Bank of Canada set a $311.00 price target on shares of UnitedHealth Group and gave the stock a “buy” rating in a report on Friday, July 19th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and eighteen have given a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average target price of $295.06.
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 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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