Somerset Trust Co grew its stake in shares of UnitedHealth Group Inc (NYSE:UNH) by 2.4% in the third quarter, Holdings Channel reports. The institutional investor owned 5,136 shares of the healthcare conglomerate’s stock after purchasing an additional 121 shares during the period. Somerset Trust Co’s holdings in UnitedHealth Group were worth $1,601,000 as of its most recent filing with the SEC.
Several other institutional investors and hedge funds also recently made changes to their positions in UNH. State Street Corp raised its position in shares of UnitedHealth Group by 0.5% during the first quarter. State Street Corp now owns 46,003,796 shares of the healthcare conglomerate’s stock valued at $11,472,427,000 after buying an additional 212,240 shares during the last quarter. Skandinaviska Enskilda Banken AB publ raised its position in shares of UnitedHealth Group by 22.6% during the first quarter. Skandinaviska Enskilda Banken AB publ now owns 484,187 shares of the healthcare conglomerate’s stock valued at $120,747,000 after buying an additional 89,211 shares during the last quarter. Silvercrest Asset Management Group LLC raised its position in shares of UnitedHealth Group by 7.8% during the first quarter. Silvercrest Asset Management Group LLC now owns 10,135 shares of the healthcare conglomerate’s stock valued at $2,527,000 after buying an additional 734 shares during the last quarter. Driehaus Capital Management LLC acquired a new position in shares of UnitedHealth Group during the first quarter valued at about $209,000. Finally, Balyasny Asset Management LLC acquired a new position in UnitedHealth Group in the first quarter worth about $3,636,000. 86.39% of the stock is owned by institutional investors and hedge funds.
Shares of UNH stock opened at $329.90 on Friday. UnitedHealth Group Inc has a 52-week low of $187.72 and a 52-week high of $333.70. The stock has a market cap of $313.52 billion, a PE ratio of 18.55, a PEG ratio of 1.44 and a beta of 0.68. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.84 and a current ratio of 0.84. The firm’s 50 day moving average price is $311.35 and its two-hundred day moving average price is $297.69.
UnitedHealth Group (NYSE:UNH) last announced its quarterly earnings data on Monday, October 19th. The healthcare conglomerate reported $3.51 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.98 by $0.53. UnitedHealth Group had a net margin of 6.90% and a return on equity of 29.28%. The firm had revenue of $65.12 billion for the quarter, compared to analysts’ expectations of $63.97 billion. During the same period last year, the firm earned $3.88 earnings per share. The business’s revenue for the quarter was up 7.9% on a year-over-year basis. As a group, sell-side analysts predict that UnitedHealth Group Inc will post 16.58 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 22nd. Shareholders of record on Monday, September 14th were paid a $1.25 dividend. The ex-dividend date was Friday, September 11th. This represents a $5.00 dividend on an annualized basis and a yield of 1.52%. UnitedHealth Group’s payout ratio is presently 33.09%.
Several research analysts recently issued reports on the stock. SVB Leerink increased their price target on shares of UnitedHealth Group from $370.00 to $373.00 and gave the stock an “outperform” rating in a research report on Thursday. Stephens increased their price target on shares of UnitedHealth Group from $325.00 to $335.00 and gave the stock an “overweight” rating in a research report on Thursday, July 16th. Credit Suisse Group set a $335.00 price target on shares of UnitedHealth Group and gave the stock a “buy” rating in a research report on Wednesday. Oppenheimer increased their price target on shares of UnitedHealth Group from $353.00 to $375.00 and gave the stock an “outperform” rating in a research report on Thursday. Finally, Piper Sandler increased their price target on shares of UnitedHealth Group from $350.00 to $385.00 and gave the stock an “overweight” rating in a research report on Thursday. Four investment analysts have rated the stock with a hold rating, twenty-one have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus target price of $346.68.
In other UnitedHealth Group news, Director Richard T. Burke sold 10,000 shares of the stock in a transaction on Wednesday, July 22nd. The shares were sold at an average price of $303.50, for a total value of $3,035,000.00. Following the sale, the director now directly owns 159,215 shares in the company, valued at $48,321,752.50. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Marianne D. Short sold 10,336 shares of the stock in a transaction on Friday, August 28th. The stock was sold at an average price of $312.34, for a total transaction of $3,228,346.24. Over the last ninety days, insiders sold 47,336 shares of company stock worth $14,928,276. Insiders own 0.80% of the company’s stock.
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 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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