NumerixS Investment Technologies Inc purchased a new position in shares of UnitedHealth Group Inc (NYSE:UNH) in the 2nd quarter, Holdings Channel reports. The institutional investor purchased 4,000 shares of the healthcare conglomerate’s stock, valued at approximately $980,000.
Other hedge funds have also recently modified their holdings of the company. Welch Group LLC bought a new stake in shares of UnitedHealth Group in the 2nd quarter valued at about $106,000. Blue Chip Partners Inc. bought a new stake in shares of UnitedHealth Group in the 2nd quarter valued at about $107,000. Northwest Wealth Management LLC bought a new stake in shares of UnitedHealth Group in the 2nd quarter valued at about $117,000. Bamco Inc. NY bought a new stake in shares of UnitedHealth Group in the 1st quarter valued at about $117,000. Finally, Bruderman Asset Management LLC bought a new stake in shares of UnitedHealth Group in the 1st quarter valued at about $134,000. 85.39% of the stock is owned by hedge funds and other institutional investors.
In other UnitedHealth Group news, Director Richard T. Burke sold 20,000 shares of the company’s 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 transaction, the director now owns 1,720,112 shares in the company, valued at approximately $453,094,701.92. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Kenneth Irwin Shine sold 177 shares of the company’s stock in a transaction that occurred on Wednesday, July 18th. The stock was sold at an average price of $255.72, for a total value of $45,262.44. Following the transaction, the director now owns 29,053 shares in the company, valued at approximately $7,429,433.16. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 86,603 shares of company stock worth $22,837,660. 0.87% of the stock is owned by company insiders.
UnitedHealth Group (NYSE:UNH) last announced its quarterly earnings results on Tuesday, July 17th. The healthcare conglomerate reported $3.14 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.04 by $0.10. UnitedHealth Group had a return on equity of 22.79% and a net margin of 5.55%. The company had revenue of $56.09 billion for the quarter, compared to the consensus estimate of $56.10 billion. During the same quarter in the previous year, the business earned $2.46 EPS. UnitedHealth Group’s revenue was up 12.1% compared to the same quarter last year. analysts expect that UnitedHealth Group Inc will post 12.72 earnings per share for the current fiscal year.
UnitedHealth Group declared that its board has authorized a share repurchase program on Wednesday, June 6th that permits the company to buyback 100,000,000 outstanding shares. This buyback authorization permits the healthcare conglomerate to buy shares of its stock through open market purchases. Stock buyback programs are often a sign that the company’s board believes its shares are undervalued.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 18th. Investors of record on Friday, September 7th will be issued a dividend of $0.90 per share. The ex-dividend date of this dividend is Thursday, September 6th. This represents a $3.60 dividend on an annualized basis and a yield of 1.36%. UnitedHealth Group’s dividend payout ratio is presently 35.75%.
A number of equities research analysts have recently weighed in on UNH shares. Citigroup boosted their target price on UnitedHealth Group from $275.00 to $288.00 and gave the company a “$255.42” rating in a research note on Wednesday, July 18th. Royal Bank of Canada boosted their target price on UnitedHealth Group from $282.00 to $284.00 and gave the company a “$255.42” rating in a research note on Wednesday, July 18th. Morgan Stanley boosted their target price on UnitedHealth Group from $277.00 to $278.00 and gave the company a “$255.42” rating in a research note on Wednesday, July 18th. Goldman Sachs Group reissued a “buy” rating and issued a $277.00 target price on shares of UnitedHealth Group in a research note on Tuesday, July 17th. Finally, Zacks Investment Research raised UnitedHealth Group from a “hold” rating to a “buy” rating and set a $287.00 target price for the company in a research note on Sunday, July 15th. Two research analysts have rated the stock with a hold rating and twenty-one have issued a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $272.43.
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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