Washington Capital Management Inc. acquired a new position in shares of UnitedHealth Group Inc (NYSE:UNH) in the 2nd quarter, HoldingsChannel reports. The fund acquired 2,640 shares of the healthcare conglomerate’s stock, valued at approximately $644,000.
Several other hedge funds also recently made changes to their positions in the company. Canton Hathaway LLC acquired a new stake in UnitedHealth Group in the 1st quarter valued at $36,000. Truvestments Capital LLC acquired a new stake in UnitedHealth Group in the 1st quarter valued at $42,000. Coastal Capital Group Inc. acquired a new stake in UnitedHealth Group in the 2nd quarter valued at $45,000. Creative Financial Designs Inc. ADV grew its position in UnitedHealth Group by 89.6% in the 1st quarter. Creative Financial Designs Inc. ADV now owns 201 shares of the healthcare conglomerate’s stock valued at $50,000 after purchasing an additional 95 shares during the period. Finally, Capital Advisors Ltd. LLC grew its position in UnitedHealth Group by 235.7% in the 2nd quarter. Capital Advisors Ltd. LLC now owns 235 shares of the healthcare conglomerate’s stock valued at $57,000 after purchasing an additional 165 shares during the period. 85.37% of the stock is owned by institutional investors.
Several analysts recently issued reports on the stock. Oppenheimer set a $312.00 price target on shares of UnitedHealth Group and gave the company a “buy” rating in a research report on Friday, July 19th. Zacks Investment Research raised shares of UnitedHealth Group from a “sell” rating to a “buy” rating and set a $269.00 price target for the company in a research report on Monday, July 22nd. Cantor Fitzgerald set a $310.00 price target on shares of UnitedHealth Group and gave the company a “buy” rating in a research report on Friday, July 19th. Cleveland Research reissued a “buy” rating on shares of UnitedHealth Group in a research report on Monday, July 15th. Finally, Morgan Stanley lifted their price target on shares of UnitedHealth Group from $285.00 to $298.00 and gave the company an “overweight” rating in a research report on Friday, July 12th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and eighteen have given a buy rating to the stock. The stock has an average rating of “Buy” and a consensus target price of $295.06.
In other UnitedHealth Group news, Director Richard T. Burke sold 5,000 shares of UnitedHealth Group stock in a transaction on Thursday, August 8th. The shares were sold at an average price of $246.40, for a total transaction of $1,232,000.00. Following the transaction, the director now directly owns 187,979 shares of the company’s stock, valued at approximately $46,318,025.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Richard T. Burke sold 10,000 shares of UnitedHealth Group stock in a transaction on Tuesday, June 11th. The stock was sold at an average price of $248.00, for a total transaction of $2,480,000.00. Following the transaction, the director now directly owns 187,663 shares in the company, valued at $46,540,424. The disclosure for this sale can be found here. Insiders have sold a total of 37,000 shares of company stock worth $9,195,620 over the last ninety days. Insiders own 0.87% of the company’s stock.
UNH traded down $2.28 during mid-day trading on Friday, reaching $230.66. 3,890,312 shares of the stock were exchanged, compared to its average volume of 3,119,100. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.67 and a current ratio of 0.67. The stock has a market capitalization of $220.75 billion, a PE ratio of 16.61, a price-to-earnings-growth ratio of 1.24 and a beta of 0.61. The company has a 50 day moving average price of $250.81 and a two-hundred day moving average price of $247.04. UnitedHealth Group Inc has a 1 year low of $208.07 and a 1 year high of $287.94.
UnitedHealth Group (NYSE:UNH) last posted its quarterly earnings data on Thursday, July 18th. The healthcare conglomerate reported $3.60 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $3.46 by $0.14. The firm had revenue of $60.60 billion for the quarter, compared to the consensus estimate of $60.59 billion. UnitedHealth Group had a net margin of 5.51% and a return on equity of 25.20%. The business’s revenue for the quarter was up 8.0% compared to the same quarter last year. During the same period in the previous year, the firm earned $3.14 EPS. Sell-side analysts expect that UnitedHealth Group Inc will post 14.84 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 24th. Shareholders of record on Monday, September 16th will be issued a dividend of $1.08 per share. This represents a $4.32 dividend on an annualized basis and a yield of 1.87%. The ex-dividend date of this dividend is Friday, September 13th. UnitedHealth Group’s dividend payout ratio is 33.54%.
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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