Grove Bank & Trust grew its holdings in shares of UnitedHealth Group Inc (NYSE:UNH) by 6.1% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 5,987 shares of the healthcare conglomerate’s stock after buying an additional 342 shares during the quarter. Grove Bank & Trust’s holdings in UnitedHealth Group were worth $1,480,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also made changes to their positions in the company. BlackRock Inc. increased its stake in 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 buying an additional 2,123,417 shares during the last quarter. Vanguard Group Inc increased its stake in 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 buying an additional 1,073,505 shares during the last quarter. FMR LLC increased its stake in 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 buying an additional 1,232,189 shares during the last quarter. Oregon Public Employees Retirement Fund increased its stake 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 last quarter. Finally, Northern Trust Corp increased its stake in UnitedHealth Group by 2.5% in the 4th quarter. Northern Trust Corp now owns 11,669,246 shares of the healthcare conglomerate’s stock valued at $2,907,043,000 after buying an additional 288,199 shares during the last quarter. Hedge funds and other institutional investors own 85.74% of the company’s stock.
UNH opened at $244.50 on Thursday. The company has a market capitalization of $234.52 billion, a P/E ratio of 18.98, a price-to-earnings-growth ratio of 1.32 and a beta of 0.65. UnitedHealth Group Inc has a 12 month low of $208.07 and a 12 month high of $287.94. The company has a quick ratio of 0.73, a current ratio of 0.73 and a debt-to-equity ratio of 0.63.
UnitedHealth Group (NYSE:UNH) last released its quarterly earnings data on Tuesday, April 16th. The healthcare conglomerate reported $3.73 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $3.60 by $0.13. The company had revenue of $60.30 billion during the quarter, compared to the consensus estimate of $59.72 billion. UnitedHealth Group had a net margin of 5.45% and a return on equity of 25.07%. UnitedHealth Group’s revenue for the quarter was up 9.2% on a year-over-year basis. During the same period last year, the firm earned $3.04 EPS. On average, equities analysts expect that UnitedHealth Group Inc will post 14.71 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 25th. Investors of record on Monday, June 17th will be issued a $1.08 dividend. The ex-dividend date of this dividend is Friday, June 14th. This is an increase from UnitedHealth Group’s previous quarterly dividend of $0.90. This represents a $4.32 annualized dividend and a yield of 1.77%. UnitedHealth Group’s dividend payout ratio (DPR) is 27.95%.
In other UnitedHealth Group news, Director Richard T. Burke sold 10,000 shares of the firm’s stock in a transaction on Wednesday, April 24th. The shares were sold at an average price of $229.75, for a total value of $2,297,500.00. Following the completion of the transaction, the director now directly owns 187,663 shares of the company’s stock, valued at approximately $43,115,574.25. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO David S. Wichmann purchased 20,000 shares of the business’s stock in a transaction on Friday, May 3rd. The stock was purchased at an average cost of $231.79 per share, with a total value of $4,635,800.00. Following the completion of the acquisition, the chief executive officer now owns 904,367 shares in the company, valued at $209,623,226.93. The disclosure for this purchase can be found here. Over the last ninety days, insiders sold 40,000 shares of company stock valued at $9,679,100. 0.82% of the stock is owned by insiders.
UNH has been the subject of several analyst reports. Zacks Investment Research lowered shares of UnitedHealth Group from a “buy” rating to a “hold” rating in a research note on Tuesday, March 19th. Raymond James reduced their target price on shares of UnitedHealth Group from $310.00 to $265.00 and set a “strong-buy” rating for the company in a research report on Wednesday, April 17th. Barclays reduced their target price on shares of UnitedHealth Group from $290.00 to $270.00 and set an “overweight” rating for the company in a research report on Wednesday, April 17th. Morgan Stanley reduced their target price on shares of UnitedHealth Group from $315.00 to $285.00 and set an “overweight” rating for the company in a research report on Wednesday, April 17th. Finally, Citigroup raised shares of UnitedHealth Group from a “neutral” rating to a “buy” rating and increased their target price for the company from $247.00 to $280.00 in a research report on Friday, May 10th. One analyst has rated the stock with a sell rating, two have issued a hold rating, eighteen have given a buy rating and one has given a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and an average target price of $290.84.
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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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