UnitedHealth Group (UNH) Cut to Hold at ValuEngine
ValuEngine downgraded shares of UnitedHealth Group (NYSE:UNH) from a buy rating to a hold rating in a report released on Tuesday.
Several other analysts have also weighed in on UNH. Zacks Investment Research lowered UnitedHealth Group from a buy rating to a hold rating in a research note on Tuesday, June 19th. Cantor Fitzgerald reaffirmed a buy rating and issued a $300.00 price objective on shares of UnitedHealth Group in a research note on Thursday, July 5th. BMO Capital Markets raised their price objective on UnitedHealth Group from $285.00 to $300.00 and gave the company a positive rating in a research note on Thursday, June 21st. SunTrust Banks began coverage on UnitedHealth Group in a research note on Monday, June 11th. They issued a buy rating and a $300.00 price objective on the stock. Finally, Royal Bank of Canada raised their price objective on UnitedHealth Group from $282.00 to $284.00 and gave the company a $255.42 rating in a research note on Wednesday, July 18th. Two investment analysts have rated the stock with a hold rating and twenty-one have assigned a buy rating to the stock. The company currently has an average rating of Buy and an average price target of $272.43.
NYSE:UNH opened at $265.49 on Tuesday. The stock has a market capitalization of $252.81 billion, a P/E ratio of 26.36, a price-to-earnings-growth ratio of 1.56 and a beta of 0.71. The company has a current ratio of 0.75, a quick ratio of 0.75 and a debt-to-equity ratio of 0.63. UnitedHealth Group has a twelve month low of $186.00 and a twelve month high of $271.16.
UnitedHealth Group announced that its Board of Directors has approved a share buyback plan on Wednesday, June 6th that permits the company to buyback 100,000,000 outstanding shares. This buyback authorization permits the healthcare conglomerate to repurchase shares of its stock through open market purchases. Shares buyback plans are typically a sign that the company’s management believes its stock is undervalued.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 18th. Stockholders of record on Friday, September 7th will be paid a dividend of $0.90 per share. This represents a $3.60 dividend on an annualized basis and a dividend yield of 1.36%. The ex-dividend date of this dividend is Thursday, September 6th. UnitedHealth Group’s payout ratio is 35.75%.
In other news, Director Richard T. Burke sold 20,000 shares of the firm’s stock in a transaction dated Wednesday, September 12th. The stock was sold at an average price of $263.41, for a total transaction of $5,268,200.00. Following the completion of the transaction, the director now directly owns 1,720,112 shares in the company, valued at $453,094,701.92. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP D Ellen Wilson sold 15,393 shares of the firm’s stock in a transaction dated Friday, August 24th. The stock was sold at an average price of $264.29, for a total value of $4,068,215.97. Following the transaction, the executive vice president now owns 66,402 shares of the company’s stock, valued at $17,549,384.58. The disclosure for this sale can be found here. Insiders have sold 86,603 shares of company stock worth $22,837,660 over the last three months. Insiders own 0.87% of the company’s stock.
Several institutional investors and hedge funds have recently modified their holdings of UNH. Argent Trust Co raised its position in shares of UnitedHealth Group by 8.3% during the fourth quarter. Argent Trust Co now owns 13,911 shares of the healthcare conglomerate’s stock worth $3,066,000 after acquiring an additional 1,061 shares during the last quarter. Alps Advisors Inc. bought a new position in shares of UnitedHealth Group during the first quarter worth about $280,000. Zeke Capital Advisors LLC raised its position in shares of UnitedHealth Group by 5.0% during the first quarter. Zeke Capital Advisors LLC now owns 25,429 shares of the healthcare conglomerate’s stock worth $5,442,000 after acquiring an additional 1,203 shares during the last quarter. Mackay Shields LLC bought a new stake in UnitedHealth Group in the first quarter worth approximately $92,381,000. Finally, Annex Advisory Services LLC increased its holdings in UnitedHealth Group by 11.1% in the first quarter. Annex Advisory Services LLC now owns 7,357 shares of the healthcare conglomerate’s stock worth $1,574,000 after purchasing an additional 735 shares in the last quarter. Institutional investors own 85.39% of the company’s stock.
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 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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