Prudential Financial Inc. raised its stake in UnitedHealth Group Inc. (NYSE:UNH) by 10.2% during the second quarter, according to its most recent filing with the SEC. The fund owned 2,710,390 shares of the healthcare conglomerate’s stock after buying an additional 251,680 shares during the period. UnitedHealth Group accounts for about 0.6% of Prudential Financial Inc.’s portfolio, making the stock its 23rd largest position. Prudential Financial Inc. owned 0.28% of UnitedHealth Group worth $382,707,000 as of its most recent SEC filing.
Several other hedge funds have also bought and sold shares of the company. Omega Advisors Inc. acquired a new stake in UnitedHealth Group during the first quarter valued at about $64,386,000. Edgar Lomax Co. VA boosted its stake in UnitedHealth Group by 0.7% in the first quarter. Edgar Lomax Co. VA now owns 503,143 shares of the healthcare conglomerate’s stock valued at $64,855,000 after buying an additional 3,438 shares during the last quarter. Gateway Investment Advisers LLC boosted its stake in UnitedHealth Group by 8.8% in the second quarter. Gateway Investment Advisers LLC now owns 815,807 shares of the healthcare conglomerate’s stock valued at $115,192,000 after buying an additional 66,274 shares during the last quarter. Origin Asset Management LLP acquired a new stake in UnitedHealth Group during the first quarter valued at about $34,616,000. Finally, Panagora Asset Management Inc. boosted its stake in UnitedHealth Group by 5.0% in the first quarter. Panagora Asset Management Inc. now owns 947,733 shares of the healthcare conglomerate’s stock valued at $122,163,000 after buying an additional 44,707 shares during the last quarter. 85.78% of the stock is currently owned by institutional investors.
UnitedHealth Group Inc. (NYSE:UNH) opened at 140.51 on Friday. The stock has a market cap of $133.82 billion, a PE ratio of 21.99 and a beta of 0.57. The company’s 50 day moving average is $138.79 and its 200-day moving average is $135.32. UnitedHealth Group Inc. has a 1-year low of $107.51 and a 1-year high of $144.48.
UnitedHealth Group (NYSE:UNH) last posted its earnings results on Tuesday, July 19th. The healthcare conglomerate reported $1.96 EPS for the quarter, beating the Zacks’ consensus estimate of $1.89 by $0.07. The company earned $46.50 billion during the quarter, compared to analysts’ expectations of $45.05 billion. UnitedHealth Group had a net margin of 3.51% and a return on equity of 19.08%. Equities research analysts forecast that UnitedHealth Group Inc. will post $7.92 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Tuesday, September 20th. Shareholders of record on Friday, September 9th were issued a $0.625 dividend. The ex-dividend date was Tuesday, September 6th. This represents a $2.50 dividend on an annualized basis and a dividend yield of 1.78%. UnitedHealth Group’s dividend payout ratio is currently 39.12%.
UNH has been the subject of several research analyst reports. Evercore ISI initiated coverage on shares of UnitedHealth Group in a report on Thursday. They issued a “buy” rating and a $155.00 price objective for the company. Cowen and Company set a $150.00 price objective on shares of UnitedHealth Group and gave the stock a “buy” rating in a report on Tuesday, September 6th. Oppenheimer Holdings Inc. restated an “outperform” rating and issued a $161.00 price objective (up from $145.00) on shares of UnitedHealth Group in a report on Friday, July 22nd. Leerink Swann restated an “outperform” rating and issued a $165.00 price objective (up from $155.00) on shares of UnitedHealth Group in a report on Wednesday, July 20th. Finally, Wedbush restated an “outperform” rating and issued a $165.00 price objective on shares of UnitedHealth Group in a report on Tuesday, July 19th. One equities research analyst has rated the stock with a hold rating, twenty-four have assigned a buy rating and one has issued a strong buy rating to the company. The stock has an average rating of “Buy” and an average target price of $154.96.
In other UnitedHealth Group news, Director Richard T. Burke sold 40,000 shares of the firm’s stock in a transaction on Wednesday, September 7th. The shares were sold at an average price of $135.31, for a total value of $5,412,400.00. Following the completion of the transaction, the director now owns 2,003,550 shares of the company’s stock, valued at $271,100,350.50. The transaction was disclosed in a filing with the SEC, which is available at this link. 1.65% of the stock is currently owned by company insiders.
About UnitedHealth Group
UnitedHealth Group Incorporated is a diversified healthcare company. The Company operates through four segments: UnitedHealthcare, OptumHealth, OptumInsight and OptumRx. The Company conducts its operations through two business platforms: health benefits operating under UnitedHealthcare and health services operating under Optum.
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