Wealthfront Inc. raised its holdings in shares of UnitedHealth Group (NYSE:UNH) by 5.3% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 47,448 shares of the healthcare conglomerate’s stock after purchasing an additional 2,371 shares during the period. Wealthfront Inc.’s holdings in UnitedHealth Group were worth $10,154,000 at the end of the most recent quarter.
Other hedge funds have also modified their holdings of the company. Stanley Capital Management LLC increased its position in shares of UnitedHealth Group by 54.4% in the 1st quarter. Stanley Capital Management LLC now owns 24,980 shares of the healthcare conglomerate’s stock valued at $5,346,000 after acquiring an additional 8,800 shares during the period. Manchester Capital Management LLC increased its position in shares of UnitedHealth Group by 126.9% in the 1st quarter. Manchester Capital Management LLC now owns 16,346 shares of the healthcare conglomerate’s stock valued at $3,498,000 after acquiring an additional 9,141 shares during the period. Zweig DiMenna Associates LLC acquired a new position in shares of UnitedHealth Group in the 1st quarter valued at $14,097,000. Vicus Capital acquired a new position in shares of UnitedHealth Group in the 1st quarter valued at $279,000. Finally, Chicago Equity Partners LLC increased its position in shares of UnitedHealth Group by 1.7% in the 1st quarter. Chicago Equity Partners LLC now owns 75,080 shares of the healthcare conglomerate’s stock valued at $16,067,000 after acquiring an additional 1,285 shares during the period. 85.10% of the stock is currently owned by institutional investors and hedge funds.
UNH stock opened at $242.73 on Friday. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.71 and a current ratio of 0.71. UnitedHealth Group has a 52-week low of $174.92 and a 52-week high of $250.79. The stock has a market cap of $234.73 billion, a PE ratio of 24.10, a PEG ratio of 1.41 and a beta of 0.75.
UnitedHealth Group (NYSE:UNH) last posted its earnings results on Tuesday, April 17th. The healthcare conglomerate reported $3.04 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.91 by $0.13. UnitedHealth Group had a net margin of 5.41% and a return on equity of 22.06%. The business had revenue of $55.19 billion for the quarter, compared to analyst estimates of $54.90 billion. During the same period in the prior year, the company posted $2.37 EPS. The company’s revenue for the quarter was up 13.3% on a year-over-year basis. sell-side analysts forecast that UnitedHealth Group will post 12.61 earnings per share for the current fiscal year.
In other news, Director Richard T. Burke sold 15,000 shares of the stock in a transaction dated Monday, May 21st. The shares were sold at an average price of $248.82, for a total transaction of $3,732,300.00. Following the sale, the director now directly owns 1,746,533 shares of the company’s stock, valued at approximately $434,572,341.06. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Kenneth Irwin Shine sold 202 shares of the stock in a transaction dated Thursday, April 19th. The stock was sold at an average price of $237.42, for a total transaction of $47,958.84. Following the sale, the director now directly owns 28,948 shares in the company, valued at $6,872,834.16. The disclosure for this sale can be found here. Over the last three months, insiders have sold 87,019 shares of company stock worth $20,283,033. Corporate insiders own 0.87% of the company’s stock.
Several equities analysts recently issued reports on UNH shares. Cantor Fitzgerald reissued a “buy” rating and issued a $280.00 target price on shares of UnitedHealth Group in a research report on Thursday, March 8th. Zacks Investment Research raised UnitedHealth Group from a “hold” rating to a “buy” rating and set a $240.00 target price on the stock in a research report on Tuesday, April 3rd. Credit Suisse Group reissued a “buy” rating on shares of UnitedHealth Group in a research report on Friday, March 9th. Piper Jaffray Companies reissued a “buy” rating and issued a $270.00 target price on shares of UnitedHealth Group in a research report on Wednesday, April 18th. Finally, Royal Bank of Canada reissued a “buy” rating on shares of UnitedHealth Group in a research report on Wednesday, April 18th. Two equities research analysts have rated the stock with a hold rating and twenty-six have given a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average price target of $254.66.
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 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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