Hartford Investment Management Co. trimmed its holdings in UnitedHealth Group Inc (NYSE:UNH) by 0.2% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 132,777 shares of the healthcare conglomerate’s stock after selling 243 shares during the period. UnitedHealth Group accounts for 0.9% of Hartford Investment Management Co.’s holdings, making the stock its 22nd largest position. Hartford Investment Management Co.’s holdings in UnitedHealth Group were worth $32,399,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Canton Hathaway LLC acquired a new position in UnitedHealth Group during the first quarter valued at approximately $36,000. Truvestments Capital LLC acquired a new position in UnitedHealth Group during the first quarter valued at approximately $42,000. Creative Financial Designs Inc. ADV raised its position in UnitedHealth Group by 89.6% during the first quarter. Creative Financial Designs Inc. ADV now owns 201 shares of the healthcare conglomerate’s stock valued at $50,000 after purchasing an additional 95 shares in the last quarter. Financial Gravity Wealth Inc. acquired a new position in UnitedHealth Group during the first quarter valued at approximately $58,000. Finally, Horan Capital Advisors LLC. acquired a new position in UnitedHealth Group during the first quarter valued at approximately $68,000. Institutional investors own 85.87% of the company’s stock.
UNH has been the subject of several research analyst reports. UBS Group initiated coverage on shares of UnitedHealth Group in a research report on Tuesday, April 23rd. They set a “neutral” rating and a $238.00 price objective for the company. Zacks Investment Research upgraded shares of UnitedHealth Group from a “sell” rating to a “buy” rating and set a $269.00 price objective for the company in a research report on Monday, July 22nd. Royal Bank of Canada set a $311.00 price objective on shares of UnitedHealth Group and gave the company a “buy” rating in a research report on Friday, July 19th. SunTrust Banks lowered their price objective on shares of UnitedHealth Group to $300.00 and set a “buy” rating for the company in a research report on Wednesday, April 17th. They noted that the move was a valuation call. Finally, Cleveland Research restated a “buy” rating on shares of UnitedHealth Group in a research report on Monday, July 15th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and eighteen have given a buy rating to the stock. UnitedHealth Group currently has a consensus rating of “Buy” and an average price target of $295.06.
UnitedHealth Group (NYSE:UNH) last issued its quarterly earnings data on Thursday, July 18th. The healthcare conglomerate reported $3.60 earnings per share for the quarter, topping the consensus estimate of $3.46 by $0.14. UnitedHealth Group had a net margin of 5.51% and a return on equity of 25.20%. The company had revenue of $60.60 billion for the quarter, compared to analysts’ expectations of $60.59 billion. During the same quarter in the previous year, the firm posted $3.14 earnings per share. UnitedHealth Group’s revenue for the quarter was up 8.0% on a year-over-year basis. As a group, equities research analysts anticipate that UnitedHealth Group Inc will post 14.82 EPS for the current year.
In related news, Director Richard T. Burke sold 10,000 shares of the business’s stock in a transaction on Tuesday, June 11th. The shares were sold at an average price of $248.00, for a total value of $2,480,000.00. Following the sale, the director now owns 187,663 shares of the company’s stock, valued at $46,540,424. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director William C. Ballard, Jr. sold 12,000 shares of the business’s stock in a transaction on Tuesday, July 23rd. The stock was sold at an average price of $255.31, for a total transaction of $3,063,720.00. Following the completion of the sale, the director now directly owns 61,309 shares in the company, valued at approximately $15,652,800.79. The disclosure for this sale can be found here. In the last three months, insiders sold 32,000 shares of company stock worth $7,963,620. 0.82% 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 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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