Greenfield Savings Bank grew its stake in UnitedHealth Group Incorporated (NYSE:UNH – Free Report) by 2.2% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 6,421 shares of the healthcare conglomerate’s stock after buying an additional 140 shares during the quarter. UnitedHealth Group comprises 2.1% of Greenfield Savings Bank’s portfolio, making the stock its 5th largest holding. Greenfield Savings Bank’s holdings in UnitedHealth Group were worth $3,086,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Chelsea Counsel Co. acquired a new stake in shares of UnitedHealth Group during the 4th quarter worth about $27,000. 25 LLC acquired a new position in UnitedHealth Group during the first quarter worth approximately $28,000. Cascade Investment Advisors Inc. acquired a new position in UnitedHealth Group during the first quarter worth approximately $28,000. Freedom Wealth Alliance LLC acquired a new position in UnitedHealth Group during the fourth quarter worth approximately $31,000. Finally, Kalos Management Inc. acquired a new position in UnitedHealth Group during the first quarter worth approximately $34,000. Hedge funds and other institutional investors own 85.69% of the company’s stock.
Wall Street Analysts Forecast Growth
UNH has been the topic of several research analyst reports. Deutsche Bank Aktiengesellschaft cut their price target on UnitedHealth Group from $564.00 to $555.00 in a research report on Monday, July 17th. Wells Fargo & Company lowered their target price on UnitedHealth Group from $616.00 to $561.00 in a research note on Thursday, July 13th. TD Cowen lowered their target price on UnitedHealth Group from $562.00 to $555.00 and set an “outperform” rating on the stock in a research note on Monday, July 17th. StockNews.com initiated coverage on UnitedHealth Group in a research note on Thursday, August 17th. They issued a “buy” rating on the stock. Finally, Morgan Stanley reiterated an “overweight” rating and issued a $587.00 target price on shares of UnitedHealth Group in a research note on Friday, July 14th. Two equities research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $575.65.
Insider Transactions at UnitedHealth Group
In other news, CEO Andrew Witty sold 4,000 shares of the business’s stock in a transaction on Wednesday, July 19th. The stock was sold at an average price of $506.19, for a total value of $2,024,760.00. Following the completion of the transaction, the chief executive officer now directly owns 78,573 shares of the company’s stock, valued at $39,772,866.87. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 0.35% of the company’s stock.
UnitedHealth Group Stock Up 0.6 %
UNH opened at $486.70 on Friday. The business’s fifty day moving average is $491.55 and its two-hundred day moving average is $486.55. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.80 and a current ratio of 0.80. The company has a market cap of $450.83 billion, a price-to-earnings ratio of 21.78, a PEG ratio of 1.42 and a beta of 0.66. UnitedHealth Group Incorporated has a one year low of $445.68 and a one year high of $558.10.
UnitedHealth Group (NYSE:UNH – Get Free Report) last posted its earnings results on Friday, July 14th. The healthcare conglomerate reported $6.14 EPS for the quarter, topping analysts’ consensus estimates of $5.92 by $0.22. UnitedHealth Group had a return on equity of 26.72% and a net margin of 6.06%. The company had revenue of $92.90 billion for the quarter, compared to the consensus estimate of $90.97 billion. During the same period in the previous year, the business earned $5.57 earnings per share. UnitedHealth Group’s quarterly revenue was up 15.6% compared to the same quarter last year. Analysts anticipate that UnitedHealth Group Incorporated will post 24.83 EPS for the current fiscal year.
UnitedHealth Group Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 19th. Stockholders of record on Monday, September 11th will be issued a $1.88 dividend. The ex-dividend date is Friday, September 8th. This represents a $7.52 dividend on an annualized basis and a dividend yield of 1.55%. UnitedHealth Group’s dividend payout ratio (DPR) is 33.65%.
UnitedHealth Group Company Profile
UnitedHealth Group Incorporated operates as a diversified health care company in the United States. It operates through four segments: UnitedHealthcare, Optum Health, Optum Insight, and Optum Rx. 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; Medicaid plans, children's health insurance and health care programs; and health and dental benefits, and hospital and clinical services, as well as health care benefits products and services to state programs caring for the economically disadvantaged, medically underserved, and those without the benefit of employer-funded health care coverage.
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