New Hampshire Trust boosted its holdings in UnitedHealth Group Incorporated (NYSE:UNH – Free Report) by 0.8% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 7,925 shares of the healthcare conglomerate’s stock after purchasing an additional 59 shares during the quarter. UnitedHealth Group comprises 1.0% of New Hampshire Trust’s holdings, making the stock its 26th largest holding. New Hampshire Trust’s holdings in UnitedHealth Group were worth $3,809,000 as of its most recent SEC filing.
A number of other hedge funds have also added to or reduced their stakes in the business. Chelsea Counsel Co. bought a new stake in shares of UnitedHealth Group during the fourth quarter valued at approximately $27,000. 25 LLC bought a new stake in shares of UnitedHealth Group during the first quarter valued at approximately $28,000. Cascade Investment Advisors Inc. purchased a new position in shares of UnitedHealth Group during the first quarter valued at approximately $28,000. Freedom Wealth Alliance LLC purchased a new position in shares of UnitedHealth Group during the fourth quarter valued at approximately $31,000. Finally, Kalos Management Inc. purchased a new position in shares of UnitedHealth Group during the first quarter valued at approximately $34,000. 85.69% of the stock is currently owned by institutional investors.
Insider Transactions at UnitedHealth Group
In other news, CEO Andrew Witty sold 4,000 shares of the company’s stock in a transaction dated Wednesday, July 19th. The stock was sold at an average price of $506.19, for a total value of $2,024,760.00. Following the completion of the transaction, the chief executive officer now directly owns 78,573 shares in the company, valued at approximately $39,772,866.87. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.35% of the company’s stock.
UnitedHealth Group Stock Performance
UnitedHealth Group (NYSE:UNH – Get Free Report) last announced its earnings results on Friday, July 14th. The healthcare conglomerate reported $6.14 earnings per share for the quarter, topping analysts’ consensus estimates of $5.92 by $0.22. The business had revenue of $92.90 billion for the quarter, compared to analyst estimates of $90.97 billion. UnitedHealth Group had a return on equity of 26.72% and a net margin of 6.06%. The company’s quarterly revenue was up 15.6% compared to the same quarter last year. During the same period in the prior year, the company earned $5.57 EPS. Research analysts predict that UnitedHealth Group Incorporated will post 24.83 EPS for the current year.
UnitedHealth Group Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 19th. Stockholders of record on Monday, September 11th will be issued a $1.88 dividend. This represents a $7.52 dividend on an annualized basis and a dividend yield of 1.55%. The ex-dividend date of this dividend is Friday, September 8th. UnitedHealth Group’s payout ratio is currently 33.65%.
Analyst Upgrades and Downgrades
Several research firms have weighed in on UNH. SVB Securities cut their price objective on UnitedHealth Group from $625.00 to $560.00 in a research report on Wednesday, June 14th. JPMorgan Chase & Co. boosted their price objective on UnitedHealth Group from $527.00 to $532.00 and gave the stock an “overweight” rating in a research report on Monday, July 17th. Truist Financial cut their price objective on UnitedHealth Group from $610.00 to $580.00 in a research report on Wednesday, June 14th. UBS Group boosted their price objective on UnitedHealth Group from $510.00 to $520.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 19th. Finally, HSBC initiated coverage on UnitedHealth Group in a research note on Wednesday, September 6th. They issued a “hold” rating and a $540.00 target price on the stock. Two research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $575.65.
About UnitedHealth Group
UnitedHealth Group Incorporated operates as a diversified health care company in the United States. It operates through four segments: UnitedHealthcare, Optum Health, Optum Insight, and Optum Rx. 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; Medicaid plans, children's health insurance and health care programs; and health and dental benefits, and hospital and clinical services, as well as health care benefits products and services to state programs caring for the economically disadvantaged, medically underserved, and those without the benefit of employer-funded health care coverage.
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