Gerber Kawasaki Wealth & Investment Management raised its position in shares of UnitedHealth Group Inc (NYSE:UNH) by 21.8% in the second quarter, HoldingsChannel.com reports. The firm owned 1,678 shares of the healthcare conglomerate’s stock after purchasing an additional 300 shares during the quarter. Gerber Kawasaki Wealth & Investment Management’s holdings in UnitedHealth Group were worth $415,000 at the end of the most recent quarter.
Other large investors have also recently added to or reduced their stakes in the company. Welch Group LLC acquired a new stake in UnitedHealth Group during the 2nd quarter valued at approximately $106,000. Blue Chip Partners Inc. acquired a new stake in UnitedHealth Group during the 2nd quarter valued at approximately $107,000. Bamco Inc. NY acquired a new stake in UnitedHealth Group during the 1st quarter valued at approximately $117,000. Northwest Wealth Management LLC acquired a new stake in UnitedHealth Group during the 2nd quarter valued at approximately $117,000. Finally, Bruderman Asset Management LLC acquired a new stake in UnitedHealth Group during the 1st quarter valued at approximately $134,000. 85.17% of the stock is owned by institutional investors and hedge funds.
In related news, insider Larry C. Renfro sold 19,652 shares of the stock in a transaction on Friday, June 15th. The stock was sold at an average price of $254.55, for a total value of $5,002,416.60. Following the transaction, the insider now directly owns 153,679 shares in the company, valued at approximately $39,118,989.45. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director William C. Ballard, Jr. sold 10,000 shares of the stock in a transaction on Wednesday, August 8th. The stock was sold at an average price of $258.83, for a total value of $2,588,300.00. Following the completion of the transaction, the director now owns 77,172 shares in the company, valued at $19,974,428.76. The disclosure for this sale can be found here. Over the last quarter, insiders sold 44,829 shares of company stock worth $11,457,829. 0.87% of the stock is owned by company insiders.
Shares of UNH opened at $262.40 on Tuesday. UnitedHealth Group Inc has a 12-month low of $186.00 and a 12-month high of $264.30. The company has a current ratio of 0.75, a quick ratio of 0.75 and a debt-to-equity ratio of 0.63. The firm has a market capitalization of $250.59 billion, a P/E ratio of 26.06, a PEG ratio of 1.55 and a beta of 0.71.
UnitedHealth Group (NYSE:UNH) last issued its earnings results on Tuesday, July 17th. The healthcare conglomerate reported $3.14 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.04 by $0.10. UnitedHealth Group had a return on equity of 22.79% and a net margin of 5.55%. The company had revenue of $56.09 billion for the quarter, compared to analysts’ expectations of $56.10 billion. During the same period last year, the business earned $2.46 EPS. UnitedHealth Group’s quarterly revenue was up 12.1% compared to the same quarter last year. sell-side analysts forecast that UnitedHealth Group Inc will post 12.72 earnings per share for the current fiscal year.
UnitedHealth Group declared that its Board of Directors has initiated a share repurchase program on Wednesday, June 6th that permits the company to repurchase 100,000,000 outstanding shares. This repurchase authorization permits the healthcare conglomerate to purchase shares of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s leadership believes its shares are undervalued.
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 issued a $0.90 dividend. This represents a $3.60 dividend on an annualized basis and a dividend yield of 1.37%. The ex-dividend date is Thursday, September 6th. UnitedHealth Group’s dividend payout ratio is currently 35.75%.
Several brokerages have recently commented on UNH. Cantor Fitzgerald reaffirmed a “buy” rating and set a $300.00 price objective on shares of UnitedHealth Group in a research report on Thursday, August 9th. Zacks Investment Research raised shares of UnitedHealth Group from a “hold” rating to a “buy” rating and set a $287.00 price objective for the company in a research report on Sunday, July 15th. Leerink Swann reaffirmed an “outperform” rating on shares of UnitedHealth Group in a research report on Wednesday, July 18th. Morgan Stanley raised their price objective on shares of UnitedHealth Group from $277.00 to $278.00 and gave the stock a “$255.42” rating in a research report on Wednesday, July 18th. Finally, BMO Capital Markets raised their price objective on shares of UnitedHealth Group from $285.00 to $300.00 and gave the stock a “positive” rating in a research report on Thursday, June 21st. Twenty-two analysts have rated the stock with a buy rating, The stock presently has a consensus rating of “Buy” and a consensus target price of $271.14.
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.
Further Reading: Find a Trading Strategy That Works
Want to see what other hedge funds are holding UNH? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for UnitedHealth Group Inc (NYSE:UNH).
Receive News & Ratings for UnitedHealth Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for UnitedHealth Group and related companies with MarketBeat.com's FREE daily email newsletter.