Commerzbank Aktiengesellschaft FI cut its stake in shares of UnitedHealth Group Inc (NYSE:UNH) by 12.3% during the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 41,138 shares of the healthcare conglomerate’s stock after selling 5,743 shares during the quarter. Commerzbank Aktiengesellschaft FI’s holdings in UnitedHealth Group were worth $10,093,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds also recently made changes to their positions in UNH. Summit Trail Advisors LLC lifted its stake in shares of UnitedHealth Group by 19,286.4% in the 1st quarter. Summit Trail Advisors LLC now owns 6,228,065 shares of the healthcare conglomerate’s stock valued at $6,228,000 after purchasing an additional 6,195,939 shares during the period. FMR LLC lifted its stake in shares of UnitedHealth Group by 5.1% in the 2nd quarter. FMR LLC now owns 61,622,355 shares of the healthcare conglomerate’s stock valued at $15,118,428,000 after purchasing an additional 2,981,233 shares during the period. Bank of Montreal Can acquired a new position in shares of UnitedHealth Group in the 2nd quarter valued at about $381,555,000. Janus Henderson Group PLC lifted its stake in shares of UnitedHealth Group by 61.7% in the 2nd quarter. Janus Henderson Group PLC now owns 3,525,090 shares of the healthcare conglomerate’s stock valued at $864,869,000 after purchasing an additional 1,345,083 shares during the period. Finally, Chevy Chase Trust Holdings Inc. acquired a new position in shares of UnitedHealth Group in the 2nd quarter valued at about $248,898,000. 85.39% of the stock is currently owned by hedge funds and other institutional investors.
Shares of UnitedHealth Group stock opened at $265.31 on Friday. UnitedHealth Group Inc has a one year low of $186.00 and a one year high of $271.16. The stock has a market capitalization of $252.81 billion, a P/E ratio of 26.35, a PEG ratio of 1.56 and a beta of 0.71. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.75 and a quick ratio of 0.75.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 18th. Shareholders of record on Friday, September 7th will be issued a dividend of $0.90 per share. This represents a $3.60 dividend on an annualized basis and a yield of 1.36%. The ex-dividend date of this dividend is Thursday, September 6th. UnitedHealth Group’s dividend payout ratio is currently 35.75%.
UnitedHealth Group announced that its Board of Directors has approved a share repurchase program on Wednesday, June 6th that authorizes the company to buyback 100,000,000 shares. This buyback authorization authorizes the healthcare conglomerate to purchase shares of its stock through open market purchases. Shares buyback programs are often a sign that the company’s board believes its stock is undervalued.
A number of brokerages have recently issued reports on UNH. Goldman Sachs Group reissued a “buy” rating and issued a $277.00 price objective on shares of UnitedHealth Group in a research note on Tuesday, July 17th. Royal Bank of Canada boosted their price objective 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. Zacks Investment Research raised UnitedHealth Group from a “hold” rating to a “buy” rating and set a $287.00 price objective on the stock in a research note on Sunday, July 15th. Citigroup downgraded UnitedHealth Group from a “buy” rating to a “neutral” rating and set a $288.00 price objective on the stock. in a research note on Monday, September 10th. Finally, BMO Capital Markets boosted their price objective on UnitedHealth Group from $275.00 to $285.00 and gave the company a “buy” rating in a research note on Thursday, June 7th. Two equities research analysts have rated the stock with a hold rating and twenty-one have issued a buy rating to the company. UnitedHealth Group has an average rating of “Buy” and an average target price of $272.43.
In other UnitedHealth Group news, CEO Steven H. Nelson sold 26,033 shares of the business’s stock in a transaction that occurred on Friday, September 7th. The stock was sold at an average price of $270.65, for a total transaction of $7,045,831.45. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Kenneth Irwin Shine sold 177 shares of the business’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 sale, the director now directly owns 29,053 shares of the company’s stock, valued at $7,429,433.16. The disclosure for this sale can be found here. Insiders have sold a total of 86,603 shares of company stock valued at $22,837,660 over the last three months. Corporate insiders own 0.87% of the company’s stock.
About UnitedHealth Group
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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