UnitedHealth Group Incorporated (NYSE:UNH) Stake Boosted by Nicholas Investment Partners LP
Nicholas Investment Partners LP raised its stake in UnitedHealth Group Incorporated (NYSE:UNH) by 105.1% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 14,288 shares of the healthcare conglomerate’s stock after buying an additional 7,322 shares during the period. Nicholas Investment Partners LP’s holdings in UnitedHealth Group were worth $2,343,000 at the end of the most recent reporting period.
Several other large investors have also modified their holdings of UNH. Patriot Financial Group Insurance Agency LLC increased its stake in shares of 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 valued at $106,000 after buying an additional 603 shares during the last quarter. Cribstone Capital Management LLC increased its stake in shares of UnitedHealth Group by 22.6% in the first quarter. Cribstone Capital Management LLC now owns 678 shares of the healthcare conglomerate’s stock valued at $113,000 after buying an additional 125 shares during the last quarter. Kings Point Capital Management increased its stake in shares of UnitedHealth Group by 27.9% in the first quarter. Kings Point Capital Management now owns 687 shares of the healthcare conglomerate’s stock valued at $113,000 after buying an additional 150 shares during the last quarter. Founders Capital Management acquired a new stake in shares of UnitedHealth Group during the first quarter valued at $135,000. Finally, Parkside Financial Bank & Trust increased its stake in shares of UnitedHealth Group by 1.4% in the first quarter. Parkside Financial Bank & Trust now owns 854 shares of the healthcare conglomerate’s stock valued at $140,000 after buying an additional 12 shares during the last quarter. Hedge funds and other institutional investors own 86.37% of the company’s stock.
UnitedHealth Group Incorporated (NYSE:UNH) traded down 0.793% during mid-day trading on Thursday, hitting $193.285. The stock had a trading volume of 280,845 shares. UnitedHealth Group Incorporated has a 52-week low of $132.39 and a 52-week high of $196.04. The firm has a 50-day moving average of $188.96 and a 200-day moving average of $174.38. The stock has a market cap of $186.88 billion, a P/E ratio of 23.220 and a beta of 0.64.
UnitedHealth Group (NYSE:UNH) last posted its earnings results on Tuesday, July 18th. The healthcare conglomerate reported $2.46 EPS for the quarter, beating the consensus estimate of $2.38 by $0.08. The firm had revenue of $50.05 billion for the quarter, compared to analyst estimates of $49.97 billion. UnitedHealth Group had a return on equity of 21.52% and a net margin of 4.32%. UnitedHealth Group’s revenue for the quarter was up 7.7% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.96 earnings per share. On average, analysts forecast that UnitedHealth Group Incorporated will post $9.87 EPS for the current fiscal year.
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Several brokerages have recently weighed in on UNH. Jefferies Group LLC reiterated a “buy” rating and issued a $192.00 price target 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 price target on the stock. in a report on Monday, April 24th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $205.00 price target (up from $200.00) on shares of UnitedHealth Group in a report on Saturday, April 22nd. Zacks Investment Research upgraded UnitedHealth Group from a “hold” rating to a “buy” rating and set a $201.00 price objective on the stock in a report on Wednesday, June 7th. Finally, Barclays PLC raised their price objective on UnitedHealth Group from $200.00 to $217.00 and gave the stock an “overweight” rating in a report on Wednesday, July 19th. One investment analyst has rated the stock with a hold rating and twenty-four have assigned a buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $200.24.
In related news, Director William C. Ballard, Jr. sold 5,000 shares of the 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 of the company’s stock, valued at $14,753,730.84. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Gail R. Wilensky sold 5,540 shares of the 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 directly 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 three months. 0.89% of the stock is currently owned by corporate insiders.
About UnitedHealth Group
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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