First Interstate Bank lowered its position in shares of UnitedHealth Group Inc (NYSE:UNH) by 3.0% during the 2nd quarter, HoldingsChannel reports. The institutional investor owned 24,517 shares of the healthcare conglomerate’s stock after selling 764 shares during the quarter. UnitedHealth Group comprises about 1.3% of First Interstate Bank’s investment portfolio, making the stock its 27th largest position. First Interstate Bank’s holdings in UnitedHealth Group were worth $5,982,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently made changes to their positions in UNH. Canton Hathaway LLC acquired a new stake in shares of UnitedHealth Group during the 1st quarter worth approximately $36,000. Truvestments Capital LLC acquired a new stake in shares of UnitedHealth Group during the 1st quarter worth approximately $42,000. Coastal Capital Group Inc. acquired a new stake in shares of UnitedHealth Group during the 2nd quarter worth approximately $45,000. Creative Financial Designs Inc. ADV raised its position in shares of UnitedHealth Group by 89.6% during the 1st quarter. Creative Financial Designs Inc. ADV now owns 201 shares of the healthcare conglomerate’s stock worth $50,000 after purchasing an additional 95 shares during the period. Finally, Capital Advisors Ltd. LLC raised its position in shares of UnitedHealth Group by 235.7% during the 2nd quarter. Capital Advisors Ltd. LLC now owns 235 shares of the healthcare conglomerate’s stock worth $57,000 after purchasing an additional 165 shares during the period. Hedge funds and other institutional investors own 85.37% of the company’s stock.
UNH traded up $0.03 during trading hours on Monday, hitting $245.72. The company’s stock had a trading volume of 29,608 shares, compared to its average volume of 3,303,574. UnitedHealth Group Inc has a fifty-two week low of $208.07 and a fifty-two week high of $287.94. The company has a current ratio of 0.67, a quick ratio of 0.67 and a debt-to-equity ratio of 0.62. The firm has a market capitalization of $231.47 billion, a PE ratio of 19.05, a PEG ratio of 1.30 and a beta of 0.61. The company has a 50-day simple moving average of $251.25 and a 200 day simple moving average of $247.71.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 24th. Investors of record on Monday, September 16th will be given a $1.08 dividend. This represents a $4.32 annualized dividend and a yield of 1.76%. The ex-dividend date of this dividend is Friday, September 13th. UnitedHealth Group’s dividend payout ratio is currently 33.54%.
UNH has been the topic of a number of research reports. Cantor Fitzgerald set a $310.00 price target on UnitedHealth Group and gave the stock a “buy” rating in a research report on Friday, July 19th. Cleveland Research reiterated a “buy” rating on shares of UnitedHealth Group in a research report on Monday, July 15th. Morgan Stanley increased their price target on UnitedHealth Group from $285.00 to $298.00 and gave the stock an “overweight” rating in a research report on Friday, July 12th. UBS Group initiated coverage on UnitedHealth Group in a research report on Tuesday, April 23rd. They set a “neutral” rating and a $238.00 price target on the stock. Finally, Oppenheimer set a $312.00 price target on UnitedHealth Group and gave the stock a “buy” rating in a research report on Friday, July 19th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and eighteen have given a buy rating to the stock. UnitedHealth Group currently has an average rating of “Buy” and an average price target of $295.06.
In other UnitedHealth Group news, Director Richard T. Burke sold 5,000 shares of the stock in a transaction on Thursday, August 8th. The stock was sold at an average price of $246.40, for a total transaction of $1,232,000.00. Following the completion of the transaction, the director now directly owns 187,979 shares of the company’s stock, valued at approximately $46,318,025.60. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Richard T. Burke sold 10,000 shares of the stock in a transaction on Wednesday, May 29th. The shares were sold at an average price of $241.99, for a total value of $2,419,900.00. Following the transaction, the director now directly owns 187,663 shares of the company’s stock, valued at $45,412,569.37. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 37,000 shares of company stock valued at $9,195,620. 0.82% of the stock is currently owned by corporate insiders.
UnitedHealth Group Company 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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