Oppenheimer Asset Management Inc. Acquires Shares of 114,794 UnitedHealth Group Incorporated (UNH)
Oppenheimer Asset Management Inc. acquired a new position in shares of UnitedHealth Group Incorporated (NYSE:UNH) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 114,794 shares of the healthcare conglomerate’s stock, valued at approximately $18,832,000.
Other large investors have also recently made changes to their positions in the company. Ameriprise Financial Inc. raised its stake in shares of UnitedHealth Group by 29.9% in the first quarter. Ameriprise Financial Inc. now owns 3,332,761 shares of the healthcare conglomerate’s stock worth $546,574,000 after buying an additional 766,573 shares during the last quarter. Swiss National Bank raised its stake in shares of UnitedHealth Group by 25.8% in the first quarter. Swiss National Bank now owns 3,719,488 shares of the healthcare conglomerate’s stock worth $610,033,000 after buying an additional 763,161 shares during the last quarter. Teachers Advisors LLC raised its stake in shares of UnitedHealth Group by 56.8% in the fourth quarter. Teachers Advisors LLC now owns 1,929,490 shares of the healthcare conglomerate’s stock worth $308,796,000 after buying an additional 698,955 shares during the last quarter. Karp Capital Management Corp purchased a new stake in shares of UnitedHealth Group during the first quarter worth $113,729,000. Finally, Old Mutual Global Investors UK Ltd. purchased a new stake in shares of UnitedHealth Group during the first quarter worth $109,807,000. Institutional investors and hedge funds own 86.37% of the company’s stock.
Shares of UnitedHealth Group Incorporated (NYSE UNH) traded up 0.402% during mid-day trading on Friday, hitting $193.345. 698,389 shares of the stock traded hands. The stock has a market cap of $186.94 billion, a P/E ratio of 23.227 and a beta of 0.64. UnitedHealth Group Incorporated has a 12-month low of $132.39 and a 12-month high of $196.04. The firm’s 50 day moving average price is $189.18 and its 200-day moving average price is $174.51.
UnitedHealth Group (NYSE:UNH) last released its quarterly earnings data on Tuesday, July 18th. The healthcare conglomerate reported $2.46 earnings per share for the quarter, topping the Zacks’ consensus estimate of $2.38 by $0.08. UnitedHealth Group had a net margin of 4.32% and a return on equity of 21.52%. 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 company earned $1.96 EPS. The company’s revenue for the quarter was up 7.7% compared to the same quarter last year. Analysts predict that UnitedHealth Group Incorporated will post $9.87 earnings per share for the current year.
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Several equities research analysts recently commented on UNH shares. Zacks Investment Research lowered shares of UnitedHealth Group from a “buy” rating to a “hold” rating in a research note on Friday, May 19th. Deutsche Bank AG reiterated a “buy” rating and set a $187.00 price target (up from $183.00) on shares of UnitedHealth Group in a research note on Saturday, April 22nd. Mizuho lifted their price target on shares of UnitedHealth Group from $178.00 to $200.00 and gave the stock a “buy” rating in a research note on Tuesday, April 18th. Vetr upgraded shares of UnitedHealth Group from a “hold” rating to a “buy” rating and set a $186.50 price target on the stock in a research note on Tuesday, May 30th. Finally, Cantor Fitzgerald reiterated an “overweight” rating and set a $208.00 price target on shares of UnitedHealth Group in a research note on Friday, July 21st. One investment analyst has rated the stock with a hold rating and twenty-four have issued a buy rating to the company. UnitedHealth Group has an average rating of “Buy” and a consensus target price of $200.24.
In related news, Director Gail R. Wilensky sold 5,540 shares of the stock in a transaction dated Friday, June 2nd. The shares were sold at an average price of $178.74, for a total value of $990,219.60. Following the sale, the director now owns 60,516 shares of the company’s stock, valued at approximately $10,816,629.84. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director William C. Ballard, Jr. sold 5,000 shares of the stock in a transaction dated Thursday, August 3rd. The stock was sold at an average price of $193.98, for a total transaction of $969,900.00. Following the completion of the sale, the director now directly owns 76,058 shares in the company, valued at approximately $14,753,730.84. The disclosure for this sale can be found here. In the last ninety days, insiders sold 15,540 shares of company stock worth $2,873,320. Corporate insiders own 0.89% of the company’s stock.
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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