K.J. Harrison & Partners Inc increased its stake in UnitedHealth Group Inc (NYSE:UNH) by 57.5% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 11,500 shares of the healthcare conglomerate’s stock after buying an additional 4,200 shares during the period. K.J. Harrison & Partners Inc’s holdings in UnitedHealth Group were worth $2,843,000 at the end of the most recent reporting period.
Other large investors also recently modified their holdings of the company. Crewe Advisors LLC acquired a new position in UnitedHealth Group in the 4th quarter worth about $25,000. Pearl River Capital LLC acquired a new position in UnitedHealth Group in the 4th quarter worth about $35,000. Canton Hathaway LLC acquired a new position in UnitedHealth Group in the 1st quarter worth about $36,000. Laurel Wealth Advisors LLC acquired a new position in UnitedHealth Group in the 4th quarter worth about $42,000. Finally, Truvestments Capital LLC acquired a new position in UnitedHealth Group in the 1st quarter worth about $42,000. Institutional investors and hedge funds own 85.74% of the company’s stock.
In other UnitedHealth Group news, Director Richard T. Burke sold 5,000 shares of the stock in a transaction that occurred on Tuesday, March 19th. The stock was sold at an average price of $257.32, for a total value of $1,286,600.00. Following the transaction, the director now owns 182,454 shares in the company, valued at $46,949,063.28. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Richard T. Burke sold 10,000 shares of the stock in a transaction that occurred on Wednesday, April 24th. The stock was sold at an average price of $229.75, for a total value of $2,297,500.00. Following the completion of the transaction, the director now owns 187,663 shares in the company, valued at approximately $43,115,574.25. The disclosure for this sale can be found here. In the last quarter, insiders sold 40,000 shares of company stock worth $9,679,100. Corporate insiders own 0.87% of the company’s stock.
UnitedHealth Group (NYSE:UNH) last announced its earnings results on Tuesday, April 16th. The healthcare conglomerate reported $3.73 EPS for the quarter, beating the consensus estimate of $3.60 by $0.13. The company had revenue of $60.30 billion for the quarter, compared to analyst estimates of $59.72 billion. UnitedHealth Group had a return on equity of 25.07% and a net margin of 5.45%. The firm’s revenue for the quarter was up 9.2% compared to the same quarter last year. During the same quarter in the prior year, the company earned $3.04 EPS. Equities research analysts expect that UnitedHealth Group Inc will post 14.71 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 25th. Shareholders of record on Monday, June 17th will be issued a $1.08 dividend. The ex-dividend date is Friday, June 14th. This represents a $4.32 annualized dividend and a yield of 1.77%. This is a positive change from UnitedHealth Group’s previous quarterly dividend of $0.90. UnitedHealth Group’s dividend payout ratio is presently 27.95%.
Several equities research analysts have recently weighed in on UNH shares. Zacks Investment Research cut UnitedHealth Group from a “buy” rating to a “hold” rating in a research note on Tuesday, March 19th. Raymond James decreased their price target on UnitedHealth Group from $310.00 to $265.00 and set a “strong-buy” rating for the company in a research note on Wednesday, April 17th. Barclays decreased their price target on UnitedHealth Group from $290.00 to $270.00 and set an “overweight” rating for the company in a research note on Wednesday, April 17th. Morgan Stanley decreased their price target on UnitedHealth Group from $315.00 to $285.00 and set an “overweight” rating for the company in a research note on Wednesday, April 17th. Finally, Citigroup raised UnitedHealth Group from a “neutral” rating to a “buy” rating and increased their price target for the company from $247.00 to $280.00 in a research note on Friday, May 10th. One investment analyst has rated the stock with a sell rating, two have given a hold rating, eighteen have given a buy rating and one has given a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average price target of $290.84.
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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 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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