Covington Capital Management boosted its stake in UnitedHealth Group Inc (NYSE:UNH) by 3.4% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 97,476 shares of the healthcare conglomerate’s stock after acquiring an additional 3,231 shares during the period. UnitedHealth Group accounts for 1.4% of Covington Capital Management’s portfolio, making the stock its 16th largest position. Covington Capital Management’s holdings in UnitedHealth Group were worth $23,785,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other institutional investors and hedge funds also recently bought and sold shares of UNH. Coastal Capital Group Inc. bought a new stake in UnitedHealth Group during the second quarter valued at $45,000. Creative Financial Designs Inc. ADV increased its stake in UnitedHealth Group by 89.6% during the first quarter. Creative Financial Designs Inc. ADV now owns 201 shares of the healthcare conglomerate’s stock valued at $50,000 after purchasing an additional 95 shares during the last quarter. Capital Advisors Ltd. LLC increased its stake in UnitedHealth Group by 235.7% during the second quarter. Capital Advisors Ltd. LLC now owns 235 shares of the healthcare conglomerate’s stock valued at $57,000 after purchasing an additional 165 shares during the last quarter. Financial Gravity Wealth Inc. bought a new stake in UnitedHealth Group during the first quarter valued at $58,000. Finally, Next Capital Management LLC bought a new stake in UnitedHealth Group during the second quarter valued at $61,000. 85.66% of the stock is currently owned by hedge funds and other institutional investors.
Several analysts have weighed in on UNH shares. Cantor Fitzgerald set a $310.00 target price on shares of UnitedHealth Group and gave the company a “buy” rating in a research note on Friday, July 19th. Cleveland Research reiterated a “buy” rating on shares of UnitedHealth Group in a research note on Monday, July 15th. ValuEngine lowered shares of UnitedHealth Group from a “hold” rating to a “sell” rating in a research note on Thursday, September 5th. Raymond James boosted their target price on shares of UnitedHealth Group from $265.00 to $300.00 and gave the company a “buy” rating in a research note on Friday, July 19th. Finally, Oppenheimer set a $312.00 target price on shares of UnitedHealth Group and gave the company a “buy” rating in a research note on Friday, July 19th. One analyst has rated the stock with a sell rating, two have given a hold rating and seventeen have assigned a buy rating to the company’s stock. UnitedHealth Group has an average rating of “Buy” and a consensus price target of $291.61.
UnitedHealth Group (NYSE:UNH) last released its quarterly earnings results on Thursday, July 18th. The healthcare conglomerate reported $3.60 EPS for the quarter, topping the consensus estimate of $3.46 by $0.14. The business had revenue of $60.60 billion during the quarter, compared to analyst estimates of $60.59 billion. UnitedHealth Group had a net margin of 5.51% and a return on equity of 25.20%. The company’s quarterly revenue was up 8.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $3.14 earnings per share. Sell-side analysts anticipate that UnitedHealth Group Inc will post 14.84 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Tuesday, September 24th. Stockholders of record on Monday, September 16th were given a dividend of $1.08 per share. The ex-dividend date was Friday, September 13th. This represents a $4.32 annualized dividend and a dividend yield of 1.93%. UnitedHealth Group’s dividend payout ratio is currently 33.54%.
In other news, Director Richard T. Burke sold 2,500 shares of the company’s stock in a transaction dated Thursday, September 19th. The shares were sold at an average price of $233.40, for a total transaction of $583,500.00. Following the completion of the transaction, the director now owns 187,979 shares in the company, valued at $43,874,298.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director William C. Ballard, Jr. sold 12,000 shares of the company’s stock in a transaction dated Tuesday, July 23rd. The stock was sold at an average price of $255.31, for a total transaction of $3,063,720.00. Following the transaction, the director now owns 61,309 shares of the company’s stock, valued at approximately $15,652,800.79. The disclosure for this sale can be found here. Insiders have sold 24,000 shares of company stock valued at $5,924,120 in the last 90 days. Insiders own 0.82% of the company’s stock.
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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