Mitsubishi UFJ Kokusai Asset Management Co. Ltd. trimmed its holdings in shares of UnitedHealth Group Inc (NYSE:UNH) by 4.0% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 292,694 shares of the healthcare conglomerate’s stock after selling 12,105 shares during the period. UnitedHealth Group comprises 1.6% of Mitsubishi UFJ Kokusai Asset Management Co. Ltd.’s holdings, making the stock its 6th largest position. Mitsubishi UFJ Kokusai Asset Management Co. Ltd.’s holdings in UnitedHealth Group were worth $71,810,000 as of its most recent SEC filing.
Several other institutional investors have also bought and sold shares of UNH. Summit Trail Advisors LLC boosted its stake in shares of UnitedHealth Group by 19,286.4% during the 1st quarter. Summit Trail Advisors LLC now owns 6,228,065 shares of the healthcare conglomerate’s stock worth $6,228,000 after buying an additional 6,195,939 shares during the last quarter. Bank of Montreal Can acquired a new position in shares of UnitedHealth Group during the 2nd quarter worth about $381,555,000. Chevy Chase Trust Holdings Inc. acquired a new position in shares of UnitedHealth Group during the 2nd quarter worth about $248,898,000. Fred Alger Management Inc. boosted its stake in shares of UnitedHealth Group by 30.8% during the 2nd quarter. Fred Alger Management Inc. now owns 3,477,091 shares of the healthcare conglomerate’s stock worth $853,070,000 after buying an additional 817,987 shares during the last quarter. Finally, Westfield Capital Management Co. LP acquired a new position in shares of UnitedHealth Group during the 1st quarter worth about $152,388,000. Institutional investors own 85.38% of the company’s stock.
In other UnitedHealth Group news, EVP D Ellen Wilson sold 15,393 shares of the stock in a transaction dated Friday, August 24th. The shares were sold at an average price of $264.29, for a total value of $4,068,215.97. Following the transaction, the executive vice president now directly owns 66,402 shares of the company’s stock, valued at approximately $17,549,384.58. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Kenneth Irwin Shine sold 177 shares of the 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 completion of the transaction, the director now directly owns 29,053 shares in the company, valued at $7,429,433.16. The disclosure for this sale can be found here. Over the last three months, insiders sold 60,222 shares of company stock worth $15,526,045. Insiders own 0.87% of the company’s stock.
UNH has been the subject of a number of recent research reports. Citigroup increased their price objective on shares of UnitedHealth Group from $275.00 to $288.00 and gave the stock a “$255.42” rating in a research note on Wednesday, July 18th. Royal Bank of Canada increased their price objective on shares of UnitedHealth Group from $282.00 to $284.00 and gave the stock a “$255.42” rating in a research note on Wednesday, July 18th. Morgan Stanley increased 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 note on Wednesday, July 18th. Goldman Sachs Group restated a “buy” rating and set a $277.00 price objective on shares of UnitedHealth Group in a research note on Tuesday, July 17th. Finally, Zacks Investment Research upgraded 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 note on Sunday, July 15th. Twenty-two research analysts have rated the stock with a buy rating, The company presently has an average rating of “Buy” and a consensus target price of $272.43.
Shares of NYSE:UNH opened at $268.28 on Friday. UnitedHealth Group Inc has a 52-week low of $186.00 and a 52-week high of $271.16. The stock has a market capitalization of $257.60 billion, a P/E ratio of 26.64, a PEG ratio of 1.59 and a beta of 0.71. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.75 and a quick ratio of 0.75.
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, 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 business had revenue of $56.09 billion during the quarter, compared to the consensus estimate of $56.10 billion. During the same period last year, the business posted $2.46 EPS. UnitedHealth Group’s revenue was up 12.1% on a year-over-year basis. sell-side analysts expect that UnitedHealth Group Inc will post 12.72 EPS for the current year.
UnitedHealth Group declared that its Board of Directors has approved a stock buyback program on Wednesday, June 6th that allows the company to buyback 100,000,000 outstanding shares. This buyback authorization allows the healthcare conglomerate to purchase shares of its stock through open market purchases. Shares buyback programs are typically a sign that the company’s management believes its shares are undervalued.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 18th. Shareholders of record on Friday, September 7th will be issued a $0.90 dividend. The ex-dividend date is Thursday, September 6th. This represents a $3.60 annualized dividend and a yield of 1.34%. UnitedHealth Group’s dividend payout ratio is currently 35.75%.
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.
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