X Square Capital LLC purchased a new position in UnitedHealth Group Incorporated (NYSE:UNH – Free Report) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 3,582 shares of the healthcare conglomerate’s stock, valued at approximately $1,489,000.
Several other institutional investors have also recently bought and sold shares of the business. BlackRock Inc. increased its holdings in shares of UnitedHealth Group by 4.6% during the second quarter. BlackRock Inc. now owns 76,863,061 shares of the healthcare conglomerate’s stock worth $31,946,594,000 after buying an additional 3,395,530 shares in the last quarter. State Street Corp lifted its position in shares of UnitedHealth Group by 2.5% in the 4th quarter. State Street Corp now owns 45,232,170 shares of the healthcare conglomerate’s stock worth $14,931,592,000 after purchasing an additional 1,119,834 shares during the period. Capital World Investors boosted its position in shares of UnitedHealth Group by 3.8% during the 4th quarter. Capital World Investors now owns 22,591,042 shares of the healthcare conglomerate’s stock valued at $7,457,723,000 after purchasing an additional 824,120 shares in the last quarter. Price T Rowe Associates Inc. MD grew its holdings in UnitedHealth Group by 3.7% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 18,829,054 shares of the healthcare conglomerate’s stock worth $6,215,660,000 after purchasing an additional 680,077 shares during the period. Finally, Capital International Investors increased its holdings in shares of UnitedHealth Group by 6.6% during the fourth quarter. Capital International Investors now owns 18,655,111 shares of the healthcare conglomerate’s stock valued at $6,158,734,000 after acquiring an additional 1,155,162 shares in the last quarter. Institutional investors and hedge funds own 87.86% of the company’s stock.
UnitedHealth Group Stock Performance
UnitedHealth Group stock opened at $398.89 on Tuesday. The company has a current ratio of 0.78, a quick ratio of 0.78 and a debt-to-equity ratio of 0.66. UnitedHealth Group Incorporated has a 1-year low of $255.96 and a 1-year high of $461.62. The firm has a market cap of $358.04 billion, a P/E ratio of 25.67, a P/E/G ratio of 1.35 and a beta of 0.62. The firm has a 50-day moving average of $413.74 and a 200-day moving average of $357.26.
UnitedHealth Group Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 22nd. Stockholders of record on Monday, September 14th will be given a $2.32 dividend. This represents a $9.28 dividend on an annualized basis and a dividend yield of 2.3%. The ex-dividend date of this dividend is Monday, September 14th. UnitedHealth Group’s payout ratio is currently 59.72%.
Insider Transactions at UnitedHealth Group
In related news, CEO Patrick Hugh Conway sold 500 shares of the stock in a transaction dated Wednesday, August 5th. The shares were sold at an average price of $410.00, for a total transaction of $205,000.00. Following the sale, the chief executive officer directly owned 16,497 shares of the company’s stock, valued at approximately $6,763,770. This represents a 2.94% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.19% of the stock is currently owned by insiders.
Wall Street Analyst Weigh In
Several brokerages have recently commented on UNH. Weiss Ratings downgraded UnitedHealth Group from a “hold (c)” rating to a “hold (c-)” rating in a research note on Tuesday, July 28th. HSBC upped their price objective on UnitedHealth Group from $300.00 to $380.00 and gave the company a “hold” rating in a research note on Monday, July 6th. Morgan Stanley boosted their price target on shares of UnitedHealth Group from $468.00 to $529.00 and gave the company an “overweight” rating in a research report on Friday, July 17th. Sanford C. Bernstein restated an “outperform” rating on shares of UnitedHealth Group in a research report on Tuesday, July 21st. Finally, TD Cowen boosted their price objective on UnitedHealth Group from $337.00 to $430.00 and gave the stock a “hold” rating in a report on Tuesday, July 14th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $455.92.
Read Our Latest Stock Report on UNH
UnitedHealth Group Company Profile
UnitedHealth Group Inc is a diversified health care company headquartered in Minnetonka, Minnesota, that operates two primary business platforms: UnitedHealthcare and Optum. Founded in 1977, the company provides a broad range of health benefits and health care services to individuals, employers, governmental entities and other organizations. Its operations span commercial employer-sponsored plans, individual and Medicare and Medicaid programs, and services for customers and health systems in the United States and selected international markets.
UnitedHealthcare is the company’s benefits business, administering health plans and networks, managing provider relationships, and offering coverage products for employers, individuals, and government-sponsored programs.
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