Perkins Coie Trust Co decreased its position in shares of UnitedHealth Group Inc (NYSE:UNH) by 0.6% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 14,558 shares of the healthcare conglomerate’s stock after selling 85 shares during the quarter. UnitedHealth Group makes up about 1.4% of Perkins Coie Trust Co’s holdings, making the stock its 19th largest position. Perkins Coie Trust Co’s holdings in UnitedHealth Group were worth $3,164,000 at the end of the most recent reporting period.
Several other hedge funds have also recently modified their holdings of the business. Garrison Point Advisors LLC lifted its position in shares of UnitedHealth Group by 1.2% during the 2nd quarter. Garrison Point Advisors LLC now owns 3,486 shares of the healthcare conglomerate’s stock valued at $851,000 after acquiring an additional 40 shares during the period. Smith Moore & CO. lifted its position in shares of UnitedHealth Group by 1.3% during the 2nd quarter. Smith Moore & CO. now owns 3,156 shares of the healthcare conglomerate’s stock valued at $770,000 after acquiring an additional 41 shares during the period. Integrated Investment Consultants LLC lifted its position in shares of UnitedHealth Group by 3.9% during the 2nd quarter. Integrated Investment Consultants LLC now owns 1,131 shares of the healthcare conglomerate’s stock valued at $276,000 after acquiring an additional 42 shares during the period. Meridian Financial Partners LLC lifted its position in shares of UnitedHealth Group by 2.7% during the 2nd quarter. Meridian Financial Partners LLC now owns 1,633 shares of the healthcare conglomerate’s stock valued at $403,000 after acquiring an additional 43 shares during the period. Finally, 1ST Source Bank lifted its position in shares of UnitedHealth Group by 3.0% during the 2nd quarter. 1ST Source Bank now owns 1,569 shares of the healthcare conglomerate’s stock valued at $383,000 after acquiring an additional 45 shares during the period. 85.66% of the stock is currently owned by institutional investors.
In other UnitedHealth Group news, Director Richard T. Burke sold 2,500 shares of UnitedHealth Group stock in a transaction that occurred on Thursday, September 19th. The shares were sold at an average price of $233.40, for a total value of $583,500.00. Following the completion of the sale, the director now directly owns 187,979 shares of the company’s stock, valued at approximately $43,874,298.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Timothy Patrick Flynn bought 2,000 shares of the stock in a transaction on Wednesday, August 28th. The stock was purchased at an average cost of $227.55 per share, with a total value of $455,100.00. Following the completion of the purchase, the director now directly owns 5,524 shares in the company, valued at approximately $1,256,986.20. The disclosure for this purchase can be found here. Insiders sold a total of 24,000 shares of company stock valued at $5,924,120 over the last ninety days. 0.87% of the stock is owned by corporate insiders.
A number of equities research analysts have recently issued reports on the stock. Cantor Fitzgerald set a $310.00 price target on shares of UnitedHealth Group and gave the company a “buy” rating in a research report on Friday, July 19th. Credit Suisse Group set a $293.00 price objective on UnitedHealth Group and gave the stock a “buy” rating in a research report on Thursday, August 29th. Oppenheimer set a $312.00 price objective on UnitedHealth Group and gave the stock a “buy” rating in a research report on Friday, July 19th. Deutsche Bank initiated coverage on UnitedHealth Group in a research report on Thursday, September 12th. They set a “hold” rating and a $263.00 price objective for the company. Finally, Jefferies Financial Group downgraded UnitedHealth Group from a “buy” rating to a “hold” rating and cut their price objective for the stock from $300.00 to $235.00 in a research report on Thursday. Five research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. The company currently has an average rating of “Buy” and an average target price of $283.78.
UNH stock traded up $1.44 during midday trading on Friday, hitting $225.17. The stock had a trading volume of 2,383,672 shares, compared to its average volume of 4,519,363. The firm has a market cap of $208.59 billion, a PE ratio of 17.48, a price-to-earnings-growth ratio of 1.17 and a beta of 0.60. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.67 and a quick ratio of 0.67. UnitedHealth Group Inc has a 12-month low of $208.07 and a 12-month high of $287.94. The company’s 50-day moving average price is $227.48 and its 200 day moving average price is $240.20.
UnitedHealth Group (NYSE:UNH) last released its earnings results on Thursday, July 18th. The healthcare conglomerate reported $3.60 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $3.46 by $0.14. The firm had revenue of $60.60 billion during the quarter, compared to analysts’ expectations 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 period in the previous year, the company earned $3.14 EPS. As a group, sell-side analysts anticipate that UnitedHealth Group Inc will post 14.83 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Tuesday, September 24th. Shareholders of record on Monday, September 16th were paid a $1.08 dividend. The ex-dividend date was Friday, September 13th. This represents a $4.32 annualized dividend and a yield of 1.92%. UnitedHealth Group’s payout ratio is currently 33.54%.
UnitedHealth Group Company 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.
Further Reading: What does an outperform rating mean?
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