Park Avenue Securities LLC increased its stake in UnitedHealth Group Inc. (NYSE:UNH) by 55.8% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 3,464 shares of the healthcare conglomerate’s stock after buying an additional 1,241 shares during the period. Park Avenue Securities LLC’s holdings in UnitedHealth Group were worth $488,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors also recently modified their holdings of UNH. MCF Advisors LLC increased its position in shares of UnitedHealth Group by 312.9% in the first quarter. MCF Advisors LLC now owns 958 shares of the healthcare conglomerate’s stock valued at $123,000 after buying an additional 726 shares in the last quarter. Benjamin F. Edwards & Company Inc. increased its position in shares of UnitedHealth Group by 91.8% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 1,082 shares of the healthcare conglomerate’s stock valued at $153,000 after buying an additional 518 shares in the last quarter. Evanson Asset Management LLC bought a new position in shares of UnitedHealth Group during the second quarter valued at approximately $201,000. Parametrica Management Ltd bought a new position in shares of UnitedHealth Group during the second quarter valued at approximately $201,000. Finally, Franklin Street Advisors Inc. NC bought a new position in shares of UnitedHealth Group during the second quarter valued at approximately $208,000. Institutional investors and hedge funds own 85.78% of the company’s stock.
Shares of UnitedHealth Group Inc. (NYSE:UNH) traded down 0.41% on Wednesday, hitting $137.60. The stock had a trading volume of 4,625,613 shares. UnitedHealth Group Inc. has a 12 month low of $107.51 and a 12 month high of $144.48. The company has a market cap of $131.05 billion, a P/E ratio of 21.53 and a beta of 0.57. The company’s 50 day moving average price is $138.11 and its 200-day moving average price is $136.27.
UnitedHealth Group (NYSE:UNH) last issued its quarterly earnings results on Tuesday, July 19th. The healthcare conglomerate reported $1.96 earnings per share for the quarter, topping the consensus estimate of $1.89 by $0.07. UnitedHealth Group had a return on equity of 19.08% and a net margin of 3.51%. The firm had revenue of $46.50 billion for the quarter, compared to the consensus estimate of $45.05 billion. On average, analysts expect that UnitedHealth Group Inc. will post $7.90 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 20th. Stockholders of record on Friday, September 9th were issued a $0.625 dividend. The ex-dividend date of this dividend was Tuesday, September 6th. This represents a $2.50 annualized dividend and a dividend yield of 1.82%. UnitedHealth Group’s payout ratio is 39.12%.
Several research analysts have commented on UNH shares. Mizuho raised their target price on UnitedHealth Group from $156.00 to $160.00 and gave the stock a “buy” rating in a research note on Tuesday, July 19th. Credit Suisse Group AG reiterated a “buy” rating and set a $148.00 price target on shares of UnitedHealth Group in a research report on Wednesday, June 29th. Leerink Swann reiterated a “buy” rating on shares of UnitedHealth Group in a research report on Friday, June 10th. Citigroup Inc. lifted their price target on UnitedHealth Group from $148.00 to $164.00 and gave the company a “buy” rating in a research report on Wednesday, July 20th. Finally, Argus upgraded UnitedHealth Group from a “hold” rating to a “buy” rating and set a $170.00 price target for the company in a research report on Friday, July 22nd. One equities research analyst has rated the stock with a hold rating, twenty-four have given a buy rating and one has issued a strong buy rating to the stock. The company has a consensus rating of “Buy” and an average target price of $155.35.
In other news, Director Richard T. Burke sold 40,000 shares of the stock in a transaction that occurred on Wednesday, September 7th. The stock was sold at an average price of $135.31, for a total value of $5,412,400.00. Following the sale, the director now directly owns 2,003,550 shares in the company, valued at $271,100,350.50. The sale was disclosed in a document filed with the SEC, which is available at this link. 1.65% of the stock is owned by insiders.
UnitedHealth Group Company Profile
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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