NorthRock Partners LLC Acquires 392 Shares of UnitedHealth Group Inc (UNH)
NorthRock Partners LLC increased its holdings in shares of UnitedHealth Group Inc (NYSE:UNH) by 16.4% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,779 shares of the healthcare conglomerate’s stock after buying an additional 392 shares during the period. UnitedHealth Group comprises 0.2% of NorthRock Partners LLC’s investment portfolio, making the stock its 20th largest holding. NorthRock Partners LLC’s holdings in UnitedHealth Group were worth $682,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also made changes to their positions in UNH. Welch Group LLC purchased a new stake in shares of UnitedHealth Group in the 2nd quarter valued at approximately $106,000. Blue Chip Partners Inc. purchased a new stake in shares of UnitedHealth Group in the 2nd quarter valued at approximately $107,000. Northwest Wealth Management LLC purchased a new stake in shares of UnitedHealth Group in the 2nd quarter valued at approximately $117,000. Bamco Inc. NY purchased a new stake in shares of UnitedHealth Group in the 1st quarter valued at approximately $117,000. Finally, Bruderman Asset Management LLC purchased a new stake in shares of UnitedHealth Group in the 1st quarter valued at approximately $134,000. 85.31% of the stock is currently owned by hedge funds and other institutional investors.
A number of equities research analysts have commented on the stock. Leerink Swann reissued an “outperform” rating on shares of UnitedHealth Group in a research report on Wednesday, July 18th. BMO Capital Markets increased their price objective on shares of UnitedHealth Group from $275.00 to $285.00 and gave the company a “buy” rating in a research report on Thursday, June 7th. Citigroup downgraded shares of UnitedHealth Group from a “buy” rating to a “neutral” rating and set a $288.00 price objective on the stock. in a research report on Monday, September 10th. ValuEngine downgraded shares of UnitedHealth Group from a “buy” rating to a “hold” rating in a research report on Tuesday, September 11th. Finally, Zacks Investment Research raised shares of UnitedHealth Group from a “hold” rating to a “buy” rating and set a $287.00 price objective on the stock in a research report on Sunday, July 15th. Three investment analysts have rated the stock with a hold rating and twenty-one have given a buy rating to the company’s stock. UnitedHealth Group currently has an average rating of “Buy” and an average target price of $274.05.
UnitedHealth Group (NYSE:UNH) last posted its earnings results on Tuesday, July 17th. The healthcare conglomerate reported $3.14 EPS for the quarter, beating the Zacks’ consensus estimate of $3.04 by $0.10. The firm had revenue of $56.09 billion for the quarter, compared to the consensus estimate of $56.10 billion. UnitedHealth Group had a net margin of 5.55% and a return on equity of 22.79%. The company’s revenue was up 12.1% on a year-over-year basis. During the same period last year, the firm posted $2.46 EPS. research analysts forecast that UnitedHealth Group Inc will post 12.72 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Tuesday, September 18th. Investors of record on Friday, September 7th were given a $0.90 dividend. This represents a $3.60 dividend on an annualized basis and a dividend yield of 1.35%. The ex-dividend date was Thursday, September 6th. UnitedHealth Group’s dividend payout ratio (DPR) is 35.75%.
UnitedHealth Group announced that its Board of Directors has authorized a share buyback program on Wednesday, June 6th that allows the company to buyback 100,000,000 shares. This buyback authorization allows the healthcare conglomerate to reacquire shares of its stock through open market purchases. Stock buyback programs are often an indication that the company’s board of directors believes its shares are undervalued.
In related news, CEO Steven H. Nelson sold 26,033 shares of the stock in a transaction on Friday, September 7th. The shares were sold at an average price of $270.65, for a total transaction of $7,045,831.45. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Steven H. Nelson sold 8,142 shares of the stock in a transaction on Thursday, September 13th. The stock was sold at an average price of $265.00, for a total transaction of $2,157,630.00. Following the sale, the chief executive officer now owns 22,496 shares of the company’s stock, valued at approximately $5,961,440. The disclosure for this sale can be found here. Insiders sold a total of 94,745 shares of company stock worth $24,995,290 over the last ninety days. 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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