Granite Investment Partners LLC trimmed its position in UnitedHealth Group (NYSE:UNH) by 2.3% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 87,740 shares of the healthcare conglomerate’s stock after selling 2,072 shares during the period. UnitedHealth Group makes up approximately 1.3% of Granite Investment Partners LLC’s investment portfolio, making the stock its 7th largest holding. Granite Investment Partners LLC’s holdings in UnitedHealth Group were worth $18,776,000 at the end of the most recent reporting period.
Several other institutional investors have also recently modified their holdings of the company. Capital International Investors raised its holdings in UnitedHealth Group by 399.3% during the third quarter. Capital International Investors now owns 4,132,602 shares of the healthcare conglomerate’s stock worth $809,370,000 after acquiring an additional 3,304,902 shares in the last quarter. Egerton Capital UK LLP bought a new stake in UnitedHealth Group during the fourth quarter worth about $368,905,000. Amundi Pioneer Asset Management Inc. raised its holdings in UnitedHealth Group by 72.1% during the fourth quarter. Amundi Pioneer Asset Management Inc. now owns 1,919,846 shares of the healthcare conglomerate’s stock worth $423,249,000 after acquiring an additional 804,091 shares in the last quarter. Arrowstreet Capital Limited Partnership raised its holdings in UnitedHealth Group by 22.4% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 4,323,180 shares of the healthcare conglomerate’s stock worth $953,088,000 after acquiring an additional 792,527 shares in the last quarter. Finally, Jennison Associates LLC raised its holdings in UnitedHealth Group by 10.2% during the fourth quarter. Jennison Associates LLC now owns 6,107,513 shares of the healthcare conglomerate’s stock worth $1,346,462,000 after acquiring an additional 565,536 shares in the last quarter. Institutional investors own 87.11% of the company’s stock.
In other news, Director Kenneth Irwin Shine sold 202 shares of the company’s stock in a transaction that occurred on Thursday, April 19th. The stock was sold at an average price of $237.42, for a total value of $47,958.84. Following the transaction, the director now owns 28,948 shares of the company’s stock, valued at $6,872,834.16. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Richard T. Burke sold 10,400 shares of the company’s stock in a transaction that occurred on Thursday, March 1st. The shares were sold at an average price of $229.87, for a total value of $2,390,648.00. Following the completion of the transaction, the director now directly owns 1,781,657 shares in the company, valued at approximately $409,549,494.59. The disclosure for this sale can be found here. Insiders sold 72,019 shares of company stock worth $16,550,733 in the last ninety days. 0.87% of the stock is owned by company insiders.
UnitedHealth Group (NYSE:UNH) last posted its earnings results on Tuesday, April 17th. The healthcare conglomerate reported $3.04 EPS for the quarter, beating the consensus estimate of $2.91 by $0.13. UnitedHealth Group had a return on equity of 22.06% and a net margin of 5.41%. The company had revenue of $55.19 billion for the quarter, compared to the consensus estimate of $54.90 billion. During the same quarter in the prior year, the business earned $2.37 earnings per share. The firm’s revenue for the quarter was up 13.3% on a year-over-year basis. analysts anticipate that UnitedHealth Group will post 12.61 earnings per share for the current fiscal year.
UNH has been the topic of several analyst reports. Argus upped their target price on UnitedHealth Group to $270.00 and gave the stock a “buy” rating in a report on Thursday, January 18th. Zacks Investment Research upgraded UnitedHealth Group from a “hold” rating to a “buy” rating and set a $267.00 target price on the stock in a report on Saturday, January 20th. Barclays initiated coverage on UnitedHealth Group in a report on Thursday, March 8th. They set an “overweight” rating and a $265.00 target price on the stock. Cantor Fitzgerald reiterated a “buy” rating and set a $280.00 target price on shares of UnitedHealth Group in a report on Thursday, March 8th. Finally, Credit Suisse Group reiterated a “buy” rating on shares of UnitedHealth Group in a report on Friday, March 9th. Two analysts have rated the stock with a hold rating and twenty-six have given a buy rating to the stock. UnitedHealth Group currently has an average rating of “Buy” and an average price target of $253.70.
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 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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