Castle Rock Wealth Management LLC raised its holdings in UnitedHealth Group Incorporated (NYSE:UNH – Get Rating) by 2.1% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 1,939 shares of the healthcare conglomerate’s stock after buying an additional 39 shares during the period. Castle Rock Wealth Management LLC’s holdings in UnitedHealth Group were worth $997,000 at the end of the most recent reporting period.
Other institutional investors also recently modified their holdings of the company. Advocacy Wealth Management Services LLC increased its stake in shares of UnitedHealth Group by 75.8% during the 1st quarter. Advocacy Wealth Management Services LLC now owns 58 shares of the healthcare conglomerate’s stock worth $30,000 after purchasing an additional 25 shares during the last quarter. Cascade Investment Advisors Inc. increased its stake in shares of UnitedHealth Group by 100.0% during the 1st quarter. Cascade Investment Advisors Inc. now owns 60 shares of the healthcare conglomerate’s stock worth $31,000 after purchasing an additional 30 shares during the last quarter. Rise Advisors LLC acquired a new position in shares of UnitedHealth Group during the 4th quarter worth about $38,000. Evolution Advisers Inc. acquired a new position in UnitedHealth Group in the 1st quarter valued at about $38,000. Finally, Cordant Inc. acquired a new position in UnitedHealth Group in the 1st quarter valued at about $45,000. 87.25% of the stock is currently owned by institutional investors and hedge funds.
Insider Buying and Selling at UnitedHealth Group
In other UnitedHealth Group news, CEO Andrew Witty sold 11,376 shares of the company’s stock in a transaction that occurred on Monday, July 18th. The shares were sold at an average price of $527.90, for a total value of $6,005,390.40. Following the completion of the transaction, the chief executive officer now directly owns 76,559 shares in the company, valued at approximately $40,415,496.10. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In other UnitedHealth Group news, CEO Andrew Witty sold 11,376 shares of the company’s stock in a transaction that occurred on Monday, July 18th. The shares were sold at an average price of $527.90, for a total value of $6,005,390.40. Following the completion of the transaction, the chief executive officer now directly owns 76,559 shares in the company, valued at approximately $40,415,496.10. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Stephen J. Hemsley sold 99,312 shares of the stock in a transaction on Tuesday, July 26th. The stock was sold at an average price of $534.27, for a total transaction of $53,059,422.24. Following the sale, the director now owns 787,372 shares of the company’s stock, valued at $420,669,238.44. The disclosure for this sale can be found here. In the last ninety days, insiders sold 139,051 shares of company stock worth $74,450,958. 0.40% of the stock is currently owned by company insiders.
UnitedHealth Group Price Performance
UnitedHealth Group (NYSE:UNH – Get Rating) last released its quarterly earnings data on Friday, July 15th. The healthcare conglomerate reported $5.57 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.24 by $0.33. The business had revenue of $80.33 billion during the quarter, compared to analysts’ expectations of $79.68 billion. UnitedHealth Group had a net margin of 5.95% and a return on equity of 25.45%. The firm’s quarterly revenue was up 12.6% compared to the same quarter last year. During the same period in the prior year, the company earned $4.70 EPS. Research analysts anticipate that UnitedHealth Group Incorporated will post 21.85 EPS for the current fiscal year.
UnitedHealth Group Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 20th. Shareholders of record on Monday, September 12th were given a $1.65 dividend. This represents a $6.60 annualized dividend and a yield of 1.28%. The ex-dividend date of this dividend was Friday, September 9th. UnitedHealth Group’s dividend payout ratio (DPR) is currently 34.46%.
Wall Street Analysts Forecast Growth
A number of research analysts recently commented on the stock. BMO Capital Markets upped their price target on shares of UnitedHealth Group from $600.00 to $610.00 in a research note on Wednesday, July 20th. Sanford C. Bernstein lowered shares of UnitedHealth Group from an “outperform” rating to a “market perform” rating and set a $561.00 price target on the stock. in a research note on Thursday, May 26th. They noted that the move was a valuation call. Argus boosted their price objective on shares of UnitedHealth Group from $580.00 to $650.00 and gave the company a “buy” rating in a report on Monday, July 25th. Credit Suisse Group boosted their price objective on shares of UnitedHealth Group from $575.00 to $579.00 and gave the company an “outperform” rating in a report on Monday, July 18th. Finally, Loop Capital began coverage on shares of UnitedHealth Group in a report on Thursday, June 16th. They issued a “buy” rating and a $575.00 price objective for the company. Three equities research analysts have rated the stock with a hold rating, fifteen have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $586.40.
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 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; Medicaid plans, children's health insurance and health care programs; health and dental benefits; and hospital and clinical services.
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