Schwab Charles Investment Management Inc. Raises Stake in UnitedHealth Group Incorporated (UNH)
Schwab Charles Investment Management Inc. boosted its position in UnitedHealth Group Incorporated (NYSE:UNH) by 3.4% during the first quarter, Holdings Channel reports. The firm owned 3,473,574 shares of the healthcare conglomerate’s stock after buying an additional 115,594 shares during the period. Schwab Charles Investment Management Inc.’s holdings in UnitedHealth Group were worth $569,701,000 at the end of the most recent reporting period.
Several other large investors have also recently added to or reduced their stakes in the company. Patriot Financial Group Insurance Agency LLC increased its stake in UnitedHealth Group by 1,722.9% in the first quarter. Patriot Financial Group Insurance Agency LLC now owns 638 shares of the healthcare conglomerate’s stock worth $106,000 after buying an additional 603 shares during the period. Cribstone Capital Management LLC increased its stake in UnitedHealth Group by 22.6% in the first quarter. Cribstone Capital Management LLC now owns 678 shares of the healthcare conglomerate’s stock worth $113,000 after buying an additional 125 shares during the period. Kings Point Capital Management increased its stake in UnitedHealth Group by 27.9% in the first quarter. Kings Point Capital Management now owns 687 shares of the healthcare conglomerate’s stock worth $113,000 after buying an additional 150 shares during the period. Founders Capital Management purchased a new stake in UnitedHealth Group during the first quarter worth approximately $135,000. Finally, Parkside Financial Bank & Trust increased its stake in UnitedHealth Group by 1.4% in the first quarter. Parkside Financial Bank & Trust now owns 854 shares of the healthcare conglomerate’s stock worth $140,000 after buying an additional 12 shares during the period. 86.37% of the stock is owned by hedge funds and other institutional investors.
Shares of UnitedHealth Group Incorporated (NYSE:UNH) traded down 0.82% during trading on Thursday, hitting $193.23. The stock had a trading volume of 284,468 shares. UnitedHealth Group Incorporated has a 12-month low of $132.39 and a 12-month high of $194.39. The company has a market cap of $186.83 billion, a PE ratio of 23.21 and a beta of 0.64. The stock’s 50 day moving average is $188.96 and its 200-day moving average is $174.38.
UnitedHealth Group (NYSE:UNH) last posted its quarterly earnings data on Tuesday, July 18th. The healthcare conglomerate reported $2.46 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.38 by $0.08. UnitedHealth Group had a return on equity of 21.52% and a net margin of 4.32%. The business had revenue of $50.05 billion for the quarter, compared to analysts’ expectations of $49.97 billion. During the same quarter last year, the firm earned $1.96 earnings per share. The business’s revenue was up 7.7% on a year-over-year basis. Analysts forecast that UnitedHealth Group Incorporated will post $9.87 earnings per share for the current year.
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A number of research firms recently commented on UNH. Jefferies Group LLC reaffirmed a “buy” rating and set a $192.00 target price on shares of UnitedHealth Group in a report on Friday, May 19th. Vetr downgraded UnitedHealth Group from a “buy” rating to a “hold” rating and set a $179.00 target price for the company. in a report on Monday, April 24th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $205.00 target price (up previously from $200.00) on shares of UnitedHealth Group in a report on Saturday, April 22nd. Zacks Investment Research raised UnitedHealth Group from a “hold” rating to a “buy” rating and set a $201.00 target price for the company in a report on Wednesday, June 7th. Finally, Barclays PLC lifted their target price on UnitedHealth Group from $200.00 to $217.00 and gave the stock an “overweight” rating in a report on Wednesday, July 19th. One analyst has rated the stock with a hold rating and twenty-four have given a buy rating to the stock. The company has an average rating of “Buy” and an average target price of $200.24.
In related news, Director William C. Ballard, Jr. sold 5,000 shares of UnitedHealth Group stock in a transaction on Thursday, August 3rd. The stock was sold at an average price of $193.98, for a total value of $969,900.00. Following the transaction, the director now owns 76,058 shares in the company, valued at $14,753,730.84. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Gail R. Wilensky sold 5,540 shares of UnitedHealth Group stock in a transaction on Friday, June 2nd. The shares were sold at an average price of $178.74, for a total value of $990,219.60. Following the completion of the transaction, the director now owns 60,516 shares in the company, valued at approximately $10,816,629.84. The disclosure for this sale can be found here. Insiders sold 15,540 shares of company stock worth $2,873,320 in the last quarter. 0.89% of the stock is owned by insiders.
UnitedHealth Group Company Profile
UnitedHealth Group Incorporated is a health and well-being company. The Company operates through four segments: UnitedHealthcare, OptumHealth, OptumInsight and OptumRx. It conducts its operations through two business platforms: health benefits operating under UnitedHealthcare and health services operating under Optum.
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