Sivik Global Healthcare LLC boosted its position in UnitedHealth Group Inc (NYSE:UNH) by 21.5% in the third quarter, HoldingsChannel reports. The firm owned 25,000 shares of the healthcare conglomerate’s stock after buying an additional 4,427 shares during the quarter. UnitedHealth Group accounts for about 2.4% of Sivik Global Healthcare LLC’s holdings, making the stock its 16th largest holding. Sivik Global Healthcare LLC’s holdings in UnitedHealth Group were worth $6,651,000 at the end of the most recent quarter.
A number of other hedge funds have also recently modified their holdings of the business. FNY Investment Advisers LLC bought a new position in shares of UnitedHealth Group during the 3rd quarter valued at approximately $106,000. Polaris Greystone Financial Group LLC bought a new position in shares of UnitedHealth Group during the 3rd quarter valued at approximately $120,000. Fort L.P. bought a new position in shares of UnitedHealth Group during the 2nd quarter valued at approximately $119,000. Columbia Asset Management bought a new position in shares of UnitedHealth Group during the 3rd quarter valued at approximately $152,000. Finally, Pathstone Family Office LLC grew its position in shares of UnitedHealth Group by 1,430.8% during the 3rd quarter. Pathstone Family Office LLC now owns 597 shares of the healthcare conglomerate’s stock valued at $160,000 after acquiring an additional 558 shares during the period. 85.57% of the stock is owned by institutional investors and hedge funds.
In other UnitedHealth Group news, Director Richard T. Burke sold 6,090 shares of the stock in a transaction that occurred on Wednesday, November 28th. The shares were sold at an average price of $281.72, for a total value of $1,715,674.80. Following the sale, the director now directly owns 1,711,584 shares in the company, valued at approximately $482,187,444.48. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Richard T. Burke sold 20,000 shares of the stock in a transaction that occurred on Wednesday, September 12th. The stock was sold at an average price of $263.41, for a total transaction of $5,268,200.00. Following the completion of the sale, the director now owns 1,720,112 shares in the company, valued at $453,094,701.92. The disclosure for this sale can be found here. Insiders sold a total of 34,395 shares of company stock worth $9,186,302 over the last quarter. Corporate insiders own 0.87% of the company’s stock.
UnitedHealth Group (NYSE:UNH) last posted its earnings results on Tuesday, October 16th. The healthcare conglomerate reported $3.41 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $3.30 by $0.11. UnitedHealth Group had a net margin of 5.71% and a return on equity of 23.62%. The business had revenue of $56.56 billion for the quarter, compared to analysts’ expectations of $56.34 billion. During the same period in the prior year, the company posted $2.66 EPS. The business’s revenue for the quarter was up 12.4% compared to the same quarter last year. As a group, research analysts forecast that UnitedHealth Group Inc will post 12.82 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, December 13th. Shareholders of record on Monday, December 3rd will be paid a $0.90 dividend. This represents a $3.60 annualized dividend and a yield of 1.34%. The ex-dividend date is Friday, November 30th. UnitedHealth Group’s dividend payout ratio is presently 35.75%.
A number of analysts recently commented on the stock. Raymond James upped their price target on shares of UnitedHealth Group from $285.00 to $304.00 and gave the company a “strong-buy” rating in a research note on Monday, September 24th. ValuEngine cut shares of UnitedHealth Group from a “buy” rating to a “hold” rating in a research note on Tuesday, September 11th. Piper Jaffray Companies upped their price target on shares of UnitedHealth Group to $312.00 and gave the company an “overweight” rating in a research note on Wednesday, November 28th. Citigroup cut 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, September 10th. Finally, Cantor Fitzgerald restated a “buy” rating and set a $310.00 price target on shares of UnitedHealth Group in a research note on Wednesday, November 21st. Two research analysts have rated the stock with a hold rating and twenty-one have assigned a buy rating to the company’s stock. UnitedHealth Group presently has an average rating of “Buy” and a consensus price target of $292.48.
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About UnitedHealth Group
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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