Westpac Banking Corp boosted its stake in shares of UnitedHealth Group Inc (NYSE:UNH) by 15.2% during the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 132,160 shares of the healthcare conglomerate’s stock after purchasing an additional 17,461 shares during the period. UnitedHealth Group comprises approximately 0.6% of Westpac Banking Corp’s holdings, making the stock its 25th largest position. Westpac Banking Corp’s holdings in UnitedHealth Group were worth $35,160,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently made changes to their positions in the company. Welch Group LLC acquired a new stake in shares of UnitedHealth Group in the second quarter worth $106,000. FNY Investment Advisers LLC acquired a new stake in shares of UnitedHealth Group in the third quarter worth $106,000. Fort L.P. acquired a new stake in shares of UnitedHealth Group in the second quarter worth $119,000. Polaris Greystone Financial Group LLC acquired a new stake in shares of UnitedHealth Group in the third quarter worth $120,000. Finally, Columbia Asset Management acquired a new stake in shares of UnitedHealth Group in the third quarter worth $152,000. 85.57% of the stock is currently owned by hedge funds and other institutional investors.
Shares of UnitedHealth Group stock opened at $278.55 on Thursday. The firm has a market capitalization of $267.97 billion, a price-to-earnings ratio of 27.66, a price-to-earnings-growth ratio of 1.60 and a beta of 0.76. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.69 and a current ratio of 0.69. UnitedHealth Group Inc has a 52-week low of $208.48 and a 52-week high of $287.94.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 13th. Shareholders of record on Monday, December 3rd will be issued a $0.90 dividend. This represents a $3.60 annualized dividend and a yield of 1.29%. The ex-dividend date of this dividend is Friday, November 30th. UnitedHealth Group’s dividend payout ratio (DPR) is presently 35.75%.
In other UnitedHealth Group news, CEO Steven H. Nelson sold 26,033 shares of the business’s stock in a transaction on Friday, September 7th. The shares were sold at an average price of $270.65, for a total value of $7,045,831.45. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Kenneth Irwin Shine sold 163 shares of the company’s stock in a transaction dated Friday, November 9th. The stock was sold at an average price of $274.83, for a total transaction of $44,797.29. The disclosure for this sale can be found here. Insiders sold a total of 60,428 shares of company stock worth $16,232,134 in the last three months. Insiders own 0.87% of the company’s stock.
UNH has been the subject of a number of analyst reports. Jefferies Financial Group boosted their price objective on shares of UnitedHealth Group from $270.00 to $311.00 and gave the stock a “buy” rating in a research note on Wednesday, October 3rd. Argus upped their target price on shares of UnitedHealth Group to $285.00 and gave the company a “buy” rating in a research note on Thursday, October 18th. Zacks Investment Research upgraded shares of UnitedHealth Group from a “hold” rating to a “buy” rating and set a $292.00 target price for the company in a research note on Monday, November 26th. Morgan Stanley upped their target price on shares of UnitedHealth Group from $278.00 to $305.00 and gave the company an “overweight” rating in a research note on Wednesday, September 5th. Finally, ValuEngine upgraded shares of UnitedHealth Group from a “hold” rating to a “buy” rating in a research note on Tuesday, October 2nd. Two analysts have rated the stock with a hold rating and twenty-one have assigned a buy rating to the stock. The stock has a consensus rating of “Buy” and an average target price of $292.48.
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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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