PICTET BANK & TRUST Ltd Has $4.79 Million Stake in UnitedHealth Group Inc (UNH)
PICTET BANK & TRUST Ltd increased its holdings in UnitedHealth Group Inc (NYSE:UNH) by 1.8% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 19,530 shares of the healthcare conglomerate’s stock after buying an additional 340 shares during the period. UnitedHealth Group accounts for 1.6% of PICTET BANK & TRUST Ltd’s holdings, making the stock its 17th largest position. PICTET BANK & TRUST Ltd’s holdings in UnitedHealth Group were worth $4,791,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Welch Group LLC acquired a new position in shares of UnitedHealth Group during the second quarter worth $106,000. Blue Chip Partners Inc. acquired a new position in shares of UnitedHealth Group during the second quarter worth $107,000. Bamco Inc. NY acquired a new position in shares of UnitedHealth Group during the first quarter worth $117,000. Northwest Wealth Management LLC acquired a new position in shares of UnitedHealth Group during the second quarter worth $117,000. Finally, Bruderman Asset Management LLC acquired a new position in shares of UnitedHealth Group during the first quarter worth $134,000. Institutional investors own 85.38% of the company’s stock.
Several analysts recently weighed in on UNH shares. SunTrust Banks started coverage on shares of UnitedHealth Group in a research note on Monday, June 11th. They issued a “buy” rating and a $300.00 price objective on the stock. Zacks Investment Research cut shares of UnitedHealth Group from a “buy” rating to a “hold” rating in a research note on Thursday, May 31st. Leerink Swann reissued an “outperform” rating on shares of UnitedHealth Group in a research note on Wednesday, July 18th. Cantor Fitzgerald reissued a “buy” rating and issued a $300.00 price objective on shares of UnitedHealth Group in a research note on Thursday, July 5th. Finally, BMO Capital Markets boosted their price objective on shares of UnitedHealth Group from $285.00 to $300.00 and gave the stock a “positive” rating in a research note on Thursday, June 21st. Twenty-two research analysts have rated the stock with a buy rating, The stock has an average rating of “Buy” and a consensus target price of $272.43.
UnitedHealth Group (NYSE:UNH) last released its quarterly earnings data on Tuesday, July 17th. The healthcare conglomerate reported $3.14 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $3.04 by $0.10. The company had revenue of $56.09 billion for the quarter, compared to analysts’ expectations of $56.10 billion. UnitedHealth Group had a net margin of 5.55% and a return on equity of 22.79%. The business’s revenue was up 12.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.46 EPS. sell-side analysts expect that UnitedHealth Group Inc will post 12.72 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 18th. Stockholders of record on Friday, September 7th will be given a dividend of $0.90 per share. The ex-dividend date of this dividend is Thursday, September 6th. This represents a $3.60 dividend on an annualized basis and a dividend yield of 1.34%. UnitedHealth Group’s dividend payout ratio (DPR) is presently 35.75%.
UnitedHealth Group declared that its board has initiated a share buyback program on Wednesday, June 6th that authorizes the company to buyback 100,000,000 outstanding shares. This buyback authorization authorizes the healthcare conglomerate to reacquire shares of its stock through open market purchases. Shares buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.
In other news, Director William C. Ballard, Jr. sold 10,000 shares of the stock in a transaction dated Wednesday, August 8th. The shares were sold at an average price of $258.83, for a total transaction of $2,588,300.00. Following the transaction, the director now owns 77,172 shares of the company’s stock, valued at approximately $19,974,428.76. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Larry C. Renfro sold 19,652 shares of the stock in a transaction dated Friday, June 15th. The stock was sold at an average price of $254.55, for a total transaction of $5,002,416.60. Following the transaction, the insider now directly owns 153,679 shares in the company, valued at approximately $39,118,989.45. The disclosure for this sale can be found here. Insiders have sold a total of 60,222 shares of company stock worth $15,526,045 in the last three months. Insiders own 0.87% of the company’s stock.
UnitedHealth Group Company Profile
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 care coverage, and 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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