Merriman Wealth Management LLC bought a new position in UnitedHealth Group Inc (NYSE:UNH) during the second quarter, Holdings Channel reports. The firm bought 1,517 shares of the healthcare conglomerate’s stock, valued at approximately $372,000.
Several other large investors have also recently bought and sold shares of the stock. Richard Bernstein Advisors LLC raised its position in UnitedHealth Group by 47.2% during the second quarter. Richard Bernstein Advisors LLC now owns 2,938 shares of the healthcare conglomerate’s stock valued at $721,000 after purchasing an additional 942 shares during the period. Employees Retirement System of Texas raised its position in UnitedHealth Group by 0.6% during the second quarter. Employees Retirement System of Texas now owns 292,600 shares of the healthcare conglomerate’s stock valued at $71,786,000 after purchasing an additional 1,700 shares during the period. Gabelli Funds LLC raised its position in UnitedHealth Group by 3.5% during the second quarter. Gabelli Funds LLC now owns 244,600 shares of the healthcare conglomerate’s stock valued at $60,010,000 after purchasing an additional 8,300 shares during the period. NumerixS Investment Technologies Inc purchased a new stake in UnitedHealth Group during the second quarter valued at approximately $980,000. Finally, Hartford Financial Management Inc. purchased a new stake in UnitedHealth Group during the second quarter valued at approximately $843,000. Institutional investors own 85.39% of the company’s stock.
In related news, Director Kenneth Irwin Shine sold 177 shares of the stock in a transaction that occurred on Wednesday, July 18th. The stock was sold at an average price of $255.72, for a total value of $45,262.44. Following the transaction, the director now owns 29,053 shares of the company’s stock, valued at $7,429,433.16. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Steven H. Nelson sold 26,033 shares of the stock in a transaction that occurred on Friday, September 7th. The stock was sold at an average price of $270.65, for a total value of $7,045,831.45. The disclosure for this sale can be found here. In the last three months, insiders sold 86,603 shares of company stock worth $22,837,660. 0.87% of the stock is owned by insiders.
A number of equities research analysts have issued reports on UNH shares. Morgan Stanley upped their price objective on UnitedHealth Group from $278.00 to $305.00 and gave the company an “overweight” rating in a research report on Wednesday, September 5th. Cantor Fitzgerald restated a “buy” rating and set a $300.00 price objective on shares of UnitedHealth Group in a research report on Thursday, July 5th. Zacks Investment Research downgraded UnitedHealth Group from a “buy” rating to a “hold” rating in a research report on Thursday, May 31st. Goldman Sachs Group restated a “buy” rating and set a $277.00 price objective on shares of UnitedHealth Group in a research report on Tuesday, July 17th. Finally, Royal Bank of Canada upped their price objective on UnitedHealth Group from $282.00 to $284.00 and gave the company a “$255.42” rating in a research report on Wednesday, July 18th. Two research analysts have rated the stock with a hold rating and twenty-one have assigned a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus price target of $272.43.
UNH opened at $265.31 on Friday. The company has a market cap of $252.81 billion, a PE ratio of 26.35, a price-to-earnings-growth ratio of 1.56 and a beta of 0.71. UnitedHealth Group Inc has a one year low of $186.00 and a one year high of $271.16. The company has a current ratio of 0.75, a quick ratio of 0.75 and a debt-to-equity ratio of 0.63.
UnitedHealth Group (NYSE:UNH) last released its earnings results on Tuesday, July 17th. The healthcare conglomerate reported $3.14 EPS for the quarter, beating analysts’ consensus estimates of $3.04 by $0.10. The firm had revenue of $56.09 billion for the quarter, compared to analysts’ expectations of $56.10 billion. UnitedHealth Group had a return on equity of 22.79% and a net margin of 5.55%. The company’s quarterly revenue was up 12.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.46 earnings per share. equities research analysts predict that UnitedHealth Group Inc will post 12.72 earnings per share for the current year.
UnitedHealth Group declared that its Board of Directors has initiated a stock repurchase program on Wednesday, June 6th that permits the company to repurchase 100,000,000 outstanding shares. This repurchase authorization permits the healthcare conglomerate to buy shares of its stock through open market purchases. Shares repurchase programs are typically an indication that the company’s leadership believes its shares are undervalued.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 18th. Investors of record on Friday, September 7th will be paid a $0.90 dividend. The ex-dividend date of this dividend is Thursday, September 6th. This represents a $3.60 annualized dividend and a yield of 1.36%. UnitedHealth Group’s dividend payout ratio (DPR) is currently 35.75%.
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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