Quest Investment Management LLC reduced its stake in shares of UnitedHealth Group Inc (NYSE:UNH) by 9.9% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 51,931 shares of the healthcare conglomerate’s stock after selling 5,712 shares during the quarter. Quest Investment Management LLC’s holdings in UnitedHealth Group were worth $11,113,000 at the end of the most recent reporting period.
Other hedge funds also recently made changes to their positions in the company. Exane Derivatives grew its holdings in UnitedHealth Group by 15,333.3% in the fourth quarter. Exane Derivatives now owns 463 shares of the healthcare conglomerate’s stock valued at $102,000 after purchasing an additional 460 shares during the period. Aevitas Wealth Management Inc. acquired a new stake in UnitedHealth Group in the fourth quarter valued at approximately $102,000. Bamco Inc. NY acquired a new stake in UnitedHealth Group in the first quarter valued at approximately $117,000. Pathstone Family Office LLC acquired a new stake in UnitedHealth Group in the fourth quarter valued at approximately $129,000. Finally, Trustcore Financial Services LLC acquired a new stake in UnitedHealth Group in the fourth quarter valued at approximately $133,000. Institutional investors own 84.85% of the company’s stock.
In other UnitedHealth Group news, insider Larry C. Renfro sold 19,652 shares of UnitedHealth Group stock in a transaction on Friday, June 15th. The stock was sold at an average price of $254.55, for a total value of $5,002,416.60. Following the sale, the insider now owns 153,679 shares in the company, valued at $39,118,989.45. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Richard T. Burke sold 15,000 shares of UnitedHealth Group stock in a transaction on Monday, May 21st. The shares were sold at an average price of $248.82, for a total value of $3,732,300.00. Following the completion of the sale, the director now owns 1,746,533 shares in the company, valued at approximately $434,572,341.06. The disclosure for this sale can be found here. Insiders sold 49,854 shares of company stock worth $12,295,675 in the last 90 days. Company insiders own 0.87% of the company’s stock.
NYSE UNH opened at $254.37 on Monday. The firm has a market cap of $242.06 billion, a price-to-earnings ratio of 25.26, a P/E/G ratio of 1.45 and a beta of 0.74. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.56. UnitedHealth Group Inc has a fifty-two week low of $183.39 and a fifty-two week high of $256.73.
UnitedHealth Group (NYSE:UNH) last released its quarterly earnings data on Tuesday, April 17th. The healthcare conglomerate reported $3.04 earnings per share for the quarter, topping the Zacks’ consensus estimate of $2.91 by $0.13. The company had revenue of $55.19 billion for the quarter, compared to analyst estimates of $54.90 billion. UnitedHealth Group had a return on equity of 22.06% and a net margin of 5.41%. The firm’s revenue for the quarter was up 13.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.37 earnings per share. equities analysts anticipate that UnitedHealth Group Inc will post 12.62 EPS for the current year.
UnitedHealth Group announced that its board has approved a share buyback plan on Wednesday, June 6th that allows the company to repurchase 100,000,000 outstanding shares. This repurchase authorization allows the healthcare conglomerate to buy shares of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s leadership believes its shares are undervalued.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 26th. Shareholders of record on Monday, June 18th will be given a $0.90 dividend. The ex-dividend date is Friday, June 15th. This represents a $3.60 dividend on an annualized basis and a yield of 1.42%. This is an increase from UnitedHealth Group’s previous quarterly dividend of $0.75. UnitedHealth Group’s payout ratio is currently 35.75%.
Several analysts have commented on the company. Zacks Investment Research lowered UnitedHealth Group from a “buy” rating to a “hold” rating in a report on Wednesday, March 28th. Credit Suisse Group reissued a “buy” rating on shares of UnitedHealth Group in a report on Friday, March 9th. ValuEngine raised UnitedHealth Group from a “hold” rating to a “buy” rating in a report on Wednesday, May 2nd. JPMorgan Chase & Co. lifted their price target on UnitedHealth Group to $266.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 18th. Finally, Oppenheimer lifted their price target on UnitedHealth Group from $260.00 to $276.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 18th. One equities research analyst has rated the stock with a hold rating and twenty-seven have given a buy rating to the company’s stock. UnitedHealth Group currently has a consensus rating of “Buy” and a consensus target price of $259.88.
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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