Nicola Wealth Management LTD. boosted its stake in shares of UnitedHealth Group Inc (NYSE:UNH) by 23.5% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 21,000 shares of the healthcare conglomerate’s stock after acquiring an additional 4,000 shares during the quarter. Nicola Wealth Management LTD.’s holdings in UnitedHealth Group were worth $5,152,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently modified their holdings of the business. Stone Ridge Asset Management LLC acquired a new stake in shares of UnitedHealth Group during the 4th quarter valued at about $7,807,000. Morgens Waterfall Vintiadis & Co. Inc. raised its position in shares of UnitedHealth Group by 34.3% during the 4th quarter. Morgens Waterfall Vintiadis & Co. Inc. now owns 14,912 shares of the healthcare conglomerate’s stock valued at $3,288,000 after buying an additional 3,812 shares during the period. Premia Global Advisors LLC acquired a new stake in UnitedHealth Group in the 4th quarter valued at approximately $289,000. Avestar Capital LLC acquired a new stake in UnitedHealth Group in the 4th quarter valued at approximately $393,000. Finally, RiverPark Advisors LLC acquired a new position in shares of UnitedHealth Group in the fourth quarter worth $612,000. 85.39% of the stock is currently owned by institutional investors.
Several research firms have recently issued reports on UNH. Goldman Sachs Group reaffirmed a “buy” rating and set a $277.00 price objective on shares of UnitedHealth Group in a research report on Tuesday, July 17th. Royal Bank of Canada upped their target price on shares of UnitedHealth Group from $282.00 to $284.00 and gave the company a “$255.42” rating in a report on Wednesday, July 18th. Zacks Investment Research raised shares of UnitedHealth Group from a “hold” rating to a “buy” rating and set a $287.00 target price for the company in a report on Sunday, July 15th. Citigroup lowered shares of UnitedHealth Group from a “buy” rating to a “neutral” rating and set a $288.00 price target on the stock. in a research note on Monday. Finally, BMO Capital Markets upped their target price on shares of UnitedHealth Group from $275.00 to $285.00 and gave the stock a “buy” rating in a research report on Thursday, June 7th. Two analysts have rated the stock with a hold rating and twenty-one have assigned a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus price target of $272.43.
UNH stock traded up $2.82 during mid-day trading on Thursday, hitting $265.49. 2,718,700 shares of the company were exchanged, compared to its average volume of 3,092,718. The firm has a market cap of $251.24 billion, a P/E ratio of 26.36, a P/E/G ratio of 1.55 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 Inc has a twelve month low of $186.00 and a twelve month high of $271.16.
UnitedHealth Group (NYSE:UNH) last posted its quarterly earnings results on Tuesday, July 17th. The healthcare conglomerate reported $3.14 earnings per share (EPS) for the quarter, topping the Zacks’ 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 for the quarter, compared to the consensus estimate of $56.10 billion. During the same period last year, the firm posted $2.46 EPS. The company’s revenue for the quarter 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.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 18th. Investors of record on Friday, September 7th will be given a $0.90 dividend. The ex-dividend date of this dividend is Thursday, September 6th. This represents a $3.60 annualized dividend and a yield of 1.36%. UnitedHealth Group’s dividend payout ratio is presently 35.75%.
UnitedHealth Group declared that its Board of Directors has initiated a stock buyback program on Wednesday, June 6th that allows the company to repurchase 100,000,000 outstanding shares. This repurchase authorization allows the healthcare conglomerate to buy shares of its stock through open market purchases. Shares repurchase programs are generally a sign that the company’s board of directors believes its stock is undervalued.
In other UnitedHealth Group news, Director Kenneth Irwin Shine sold 177 shares of the business’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 sale, the director now directly owns 29,053 shares in the company, valued at approximately $7,429,433.16. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Steven H. Nelson sold 26,033 shares of the business’s stock in a transaction dated Friday, September 7th. The stock was sold at an average price of $270.65, for a total transaction of $7,045,831.45. The disclosure for this sale can be found here. Over the last quarter, insiders sold 106,255 shares of company stock worth $27,840,076. 0.87% of the stock is currently owned by insiders.
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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