Orrstown Financial Services Inc. decreased its stake in UnitedHealth Group Incorporated (NYSE:UNH – Get Rating) by 5.9% in the first quarter, HoldingsChannel.com reports. The institutional investor owned 2,925 shares of the healthcare conglomerate’s stock after selling 182 shares during the period. UnitedHealth Group comprises approximately 2.8% of Orrstown Financial Services Inc.’s holdings, making the stock its 5th biggest position. Orrstown Financial Services Inc.’s holdings in UnitedHealth Group were worth $1,492,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds also recently modified their holdings of the business. State Street Corp increased its position in UnitedHealth Group by 1.9% in the fourth quarter. State Street Corp now owns 45,559,868 shares of the healthcare conglomerate’s stock worth $22,877,432,000 after buying an additional 869,827 shares in the last quarter. Capital International Investors grew its position in shares of UnitedHealth Group by 4.3% during the fourth quarter. Capital International Investors now owns 19,342,468 shares of the healthcare conglomerate’s stock worth $9,713,058,000 after purchasing an additional 790,219 shares in the last quarter. Geode Capital Management LLC grew its position in shares of UnitedHealth Group by 1.2% during the fourth quarter. Geode Capital Management LLC now owns 15,618,069 shares of the healthcare conglomerate’s stock worth $7,821,210,000 after purchasing an additional 189,864 shares in the last quarter. Alliancebernstein L.P. grew its position in shares of UnitedHealth Group by 2.4% during the fourth quarter. Alliancebernstein L.P. now owns 11,015,163 shares of the healthcare conglomerate’s stock worth $5,531,154,000 after purchasing an additional 257,910 shares in the last quarter. Finally, Norges Bank purchased a new stake in shares of UnitedHealth Group during the fourth quarter worth about $4,478,185,000. Institutional investors and hedge funds own 87.48% of the company’s stock.
UNH opened at $489.68 on Thursday. The stock’s fifty day moving average is $496.56 and its two-hundred day moving average is $490.86. The company has a market capitalization of $459.40 billion, a P/E ratio of 26.80, a PEG ratio of 1.41 and a beta of 0.83. UnitedHealth Group Incorporated has a 52 week low of $383.12 and a 52 week high of $553.29. The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 0.54.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 28th. Shareholders of record on Monday, June 20th will be issued a dividend of $1.65 per share. This is an increase from UnitedHealth Group’s previous quarterly dividend of $1.45. This represents a $6.60 annualized dividend and a yield of 1.35%. The ex-dividend date of this dividend is Thursday, June 16th. UnitedHealth Group’s dividend payout ratio (DPR) is presently 36.12%.
Several analysts recently issued reports on UNH shares. Barclays increased their target price on UnitedHealth Group from $495.00 to $565.00 and gave the stock an “overweight” rating in a research report on Wednesday, March 30th. Royal Bank of Canada set a $563.00 price target on UnitedHealth Group and gave the company an “outperform” rating in a research note on Monday, April 18th. Oppenheimer increased their price target on UnitedHealth Group from $550.00 to $600.00 and gave the company an “outperform” rating in a research note on Monday, April 18th. Credit Suisse Group increased their price target on UnitedHealth Group from $564.00 to $595.00 and gave the company an “outperform” rating in a research note on Monday, April 18th. Finally, Cowen increased their price target on UnitedHealth Group from $512.00 to $596.00 in a research note on Monday, April 18th. Three research analysts have rated the stock with a hold rating, nineteen have given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $555.73.
In other news, Director Richard T. Burke sold 2,500 shares of UnitedHealth Group stock in a transaction on Monday, May 16th. The stock was sold at an average price of $493.25, for a total value of $1,233,125.00. Following the transaction, the director now directly owns 1,220,000 shares in the company, valued at approximately $601,765,000. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Frederick William Mcnabb III purchased 89 shares of the business’s stock in a transaction dated Thursday, May 26th. The stock was bought at an average price of $504.32 per share, for a total transaction of $44,884.48. Following the completion of the acquisition, the director now directly owns 11,259 shares in the company, valued at approximately $5,678,138.88. The disclosure for this purchase can be found here. Company insiders own 0.40% of the company’s stock.
About UnitedHealth Group (Get Rating)
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 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; Medicaid plans, children's health insurance and health care programs; health and dental benefits; and hospital and clinical services.
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