HGK Asset Management Inc. lessened its position in UnitedHealth Group Inc (NYSE:UNH) by 33.5% during the second quarter, HoldingsChannel.com reports. The fund owned 44,759 shares of the healthcare conglomerate’s stock after selling 22,574 shares during the quarter. UnitedHealth Group comprises approximately 2.0% of HGK Asset Management Inc.’s investment portfolio, making the stock its 8th largest position. HGK Asset Management Inc.’s holdings in UnitedHealth Group were worth $10,981,000 at the end of the most recent quarter.
Several other hedge funds have also recently added to or reduced their stakes in UNH. Summit Trail Advisors LLC increased its holdings 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 worth $6,228,000 after acquiring an additional 6,195,939 shares during the period. Bank of Montreal Can acquired a new stake in shares of UnitedHealth Group in the 2nd quarter worth about $381,555,000. Chevy Chase Trust Holdings Inc. acquired a new stake in shares of UnitedHealth Group in the 2nd quarter worth about $248,898,000. Fred Alger Management Inc. increased its holdings in shares of UnitedHealth Group by 30.8% in the 2nd quarter. Fred Alger Management Inc. now owns 3,477,091 shares of the healthcare conglomerate’s stock worth $853,070,000 after acquiring an additional 817,987 shares during the period. Finally, Westfield Capital Management Co. LP acquired a new stake in shares of UnitedHealth Group in the 1st quarter worth about $152,388,000. 85.39% of the stock is currently owned by institutional investors and hedge funds.
In other news, insider Larry C. Renfro sold 19,652 shares of the firm’s stock in a transaction dated Friday, June 15th. The shares were sold at an average price of $254.55, for a total transaction of $5,002,416.60. Following the completion of the transaction, the insider now owns 153,679 shares in the company, valued at approximately $39,118,989.45. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Kenneth Irwin Shine sold 177 shares of the firm’s stock in a transaction dated Wednesday, July 18th. The shares were sold at an average price of $255.72, for a total transaction of $45,262.44. Following the transaction, the director now owns 29,053 shares of the company’s stock, valued at approximately $7,429,433.16. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 60,222 shares of company stock valued at $15,526,045. Insiders own 0.87% of the company’s stock.
NYSE:UNH opened at $268.51 on Wednesday. UnitedHealth Group Inc has a twelve month low of $186.00 and a twelve month high of $270.17. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.75 and a quick ratio of 0.75. The stock has a market cap of $258.39 billion, a PE ratio of 23.49, a price-to-earnings-growth ratio of 1.60 and a beta of 0.71.
UnitedHealth Group (NYSE:UNH) last posted its quarterly earnings data on Tuesday, July 17th. The healthcare conglomerate reported $3.14 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $3.04 by $0.10. UnitedHealth Group had a net margin of 5.55% and a return on equity of 22.79%. The company had revenue of $56.09 billion during the quarter, compared to analyst estimates of $56.10 billion. During the same quarter last year, the firm posted $2.46 EPS. The business’s revenue for the quarter was up 12.1% on a year-over-year basis. equities research analysts expect that UnitedHealth Group Inc will post 12.72 earnings per share for the current year.
UnitedHealth Group declared that its board has authorized a stock buyback plan on Wednesday, June 6th that allows the company to buyback 100,000,000 shares. This buyback authorization allows the healthcare conglomerate to buy shares of its stock through open market purchases. Stock buyback plans are often an indication that the company’s management believes its stock is undervalued.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 18th. Stockholders of record on Friday, September 7th will be given a dividend of $0.90 per share. The ex-dividend date is Thursday, September 6th. This represents a $3.60 annualized dividend and a dividend yield of 1.34%. UnitedHealth Group’s dividend payout ratio (DPR) is 35.75%.
A number of brokerages recently issued reports on UNH. Goldman Sachs Group reiterated a “buy” rating and issued a $277.00 target price on shares of UnitedHealth Group in a research report on Tuesday, July 17th. Royal Bank of Canada increased their target price on shares of UnitedHealth Group from $282.00 to $284.00 and gave the company a “$255.42” rating in a research report on Wednesday, July 18th. Zacks Investment Research upgraded shares of UnitedHealth Group from a “hold” rating to a “buy” rating and set a $287.00 target price for the company in a research report on Sunday, July 15th. BMO Capital Markets increased their target price on shares of UnitedHealth Group from $275.00 to $285.00 and gave the company a “buy” rating in a research report on Thursday, June 7th. Finally, Citigroup increased their target price on shares of UnitedHealth Group from $275.00 to $288.00 and gave the company a “$255.42” rating in a research report on Wednesday, July 18th. Twenty-one research analysts have rated the stock with a buy rating, The company presently has an average rating of “Buy” and a consensus price target of $271.14.
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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