Wedge Capital Management L L P NC lowered its holdings in shares of UnitedHealth Group Inc (NYSE:UNH) by 13.4% in the third quarter, HoldingsChannel.com reports. The firm owned 45,306 shares of the healthcare conglomerate’s stock after selling 7,003 shares during the quarter. Wedge Capital Management L L P NC’s holdings in UnitedHealth Group were worth $12,053,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other large investors have also modified their holdings of UNH. Argent Trust Co grew its holdings in shares of UnitedHealth Group by 8.3% in the fourth quarter. Argent Trust Co now owns 13,911 shares of the healthcare conglomerate’s stock valued at $3,066,000 after acquiring an additional 1,061 shares in the last quarter. Principal Financial Group Inc. grew its holdings in shares of UnitedHealth Group by 6.5% in the first quarter. Principal Financial Group Inc. now owns 1,945,624 shares of the healthcare conglomerate’s stock valued at $416,364,000 after acquiring an additional 119,386 shares in the last quarter. Gofen & Glossberg LLC IL bought a new position in shares of UnitedHealth Group in the second quarter valued at approximately $1,078,000. BLB&B Advisors LLC bought a new position in shares of UnitedHealth Group in the second quarter valued at approximately $275,000. Finally, Daiwa SB Investments Ltd. bought a new position in shares of UnitedHealth Group in the second quarter valued at approximately $8,094,000. Hedge funds and other institutional investors own 85.43% of the company’s stock.
In other news, CEO Steven H. Nelson sold 8,142 shares of the firm’s stock in a transaction on Thursday, September 13th. The stock was sold at an average price of $265.00, for a total value of $2,157,630.00. Following the completion of the transaction, the chief executive officer now directly owns 22,496 shares of the company’s stock, valued at $5,961,440. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Richard T. Burke sold 20,000 shares of the firm’s stock in a transaction on Wednesday, September 12th. The stock was sold at an average price of $263.41, for a total value of $5,268,200.00. Following the completion of the transaction, the director now directly owns 1,720,112 shares of the company’s stock, valued at $453,094,701.92. The disclosure for this sale can be found here. Insiders sold 69,568 shares of company stock valued at $18,539,877 over the last ninety days. Corporate insiders own 0.87% of the company’s stock.
UnitedHealth Group (NYSE:UNH) last posted its quarterly earnings results on Tuesday, October 16th. The healthcare conglomerate reported $3.41 EPS for the quarter, topping the Zacks’ consensus estimate of $3.30 by $0.11. UnitedHealth Group had a return on equity of 23.62% and a net margin of 5.71%. The firm had revenue of $56.56 billion during the quarter, compared to analyst estimates of $56.34 billion. During the same period last year, the company earned $2.66 earnings per share. The business’s revenue for the quarter was up 12.4% on a year-over-year basis. Analysts anticipate that UnitedHealth Group Inc will post 12.81 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, December 13th. Stockholders of record on Monday, December 3rd will be issued a $0.90 dividend. This represents a $3.60 dividend on an annualized basis and a dividend yield of 1.30%. UnitedHealth Group’s payout ratio is currently 35.75%.
Several equities analysts have recently issued reports on UNH shares. 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 report on Sunday, July 15th. Goldman Sachs Group reaffirmed a “buy” rating and issued a $277.00 target price on shares of UnitedHealth Group in a report on Tuesday, July 17th. Royal Bank of Canada upped their target price on UnitedHealth Group from $282.00 to $284.00 and gave the company a “$255.42” rating in a report on Wednesday, July 18th. Citigroup upped their target price on UnitedHealth Group from $275.00 to $288.00 and gave the company a “$255.42” rating in a report on Wednesday, July 18th. Finally, Morgan Stanley upped their target price on UnitedHealth Group from $277.00 to $278.00 and gave the company a “$255.42” rating in a report on Wednesday, July 18th. One equities research analyst has rated the stock with a hold rating, twenty-two have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus price target of $289.41.
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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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