Huntington National Bank Raises Holdings in UnitedHealth Group Inc (UNH)
Huntington National Bank raised its stake in UnitedHealth Group Inc (NYSE:UNH) by 34.0% in the third quarter, HoldingsChannel.com reports. The firm owned 164,411 shares of the healthcare conglomerate’s stock after acquiring an additional 41,743 shares during the period. Huntington National Bank’s holdings in UnitedHealth Group were worth $43,740,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other institutional investors also recently modified their holdings of UNH. Summit Trail Advisors LLC boosted its holdings in UnitedHealth Group by 19,286.4% in the 1st quarter. Summit Trail Advisors LLC now owns 6,228,065 shares of the healthcare conglomerate’s stock valued at $6,228,000 after purchasing an additional 6,195,939 shares during the period. FMR LLC boosted its holdings in UnitedHealth Group by 5.1% in the 2nd quarter. FMR LLC now owns 61,622,355 shares of the healthcare conglomerate’s stock valued at $15,118,428,000 after purchasing an additional 2,981,233 shares during the period. Vontobel Asset Management Inc. bought a new stake in UnitedHealth Group in the 2nd quarter valued at $404,980,000. Bank of Montreal Can bought a new stake in UnitedHealth Group in the 2nd quarter valued at $381,555,000. Finally, Janus Henderson Group PLC boosted its holdings in UnitedHealth Group by 61.7% in the 2nd quarter. Janus Henderson Group PLC now owns 3,525,090 shares of the healthcare conglomerate’s stock valued at $864,869,000 after purchasing an additional 1,345,083 shares during the period. 85.42% of the stock is owned by hedge funds and other institutional investors.
UNH has been the subject of a number of research reports. Raymond James increased their price target on shares of UnitedHealth Group from $285.00 to $304.00 and gave the company a “strong-buy” rating in a report on Monday, September 24th. ValuEngine raised shares of UnitedHealth Group from a “hold” rating to a “buy” rating in a report on Tuesday, October 2nd. Bank of America increased their price target on shares of UnitedHealth Group from $315.00 to $320.00 and gave the company a “buy” rating in a report on Wednesday. Leerink Swann reissued an “outperform” rating on shares of UnitedHealth Group in a report on Wednesday, July 18th. Finally, Cantor Fitzgerald reissued a “buy” rating and issued a $300.00 price target on shares of UnitedHealth Group in a report on Thursday, July 5th. One equities research analyst has rated the stock with a hold rating, twenty-three have assigned a buy rating and one has given a strong buy rating to the stock. The company has an average rating of “Buy” and an average target price of $289.41.
UnitedHealth Group (NYSE:UNH) last released its quarterly earnings data on Tuesday, October 16th. The healthcare conglomerate reported $3.41 EPS for the quarter, topping analysts’ consensus estimates of $3.30 by $0.11. The company had revenue of $56.56 billion during the quarter, compared to the consensus estimate of $56.34 billion. UnitedHealth Group had a net margin of 5.71% and a return on equity of 23.62%. The firm’s revenue for the quarter was up 12.4% compared to the same quarter last year. During the same period last year, the firm earned $2.66 EPS. On average, equities research analysts expect that UnitedHealth Group Inc will post 12.81 EPS for the current year.
In other news, EVP D Ellen Wilson sold 15,393 shares of the firm’s stock in a transaction dated Friday, August 24th. The shares were sold at an average price of $264.29, for a total transaction of $4,068,215.97. Following the completion of the transaction, the executive vice president now directly owns 66,402 shares of the company’s stock, valued at approximately $17,549,384.58. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Steven H. Nelson sold 8,142 shares of the firm’s stock in a transaction dated 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 transaction, the chief executive officer now directly owns 22,496 shares of the company’s stock, valued at $5,961,440. The disclosure for this sale can be found here. Insiders have sold a total of 94,568 shares of company stock valued at $24,950,027 over the last ninety days. 0.87% of the stock is owned by insiders.
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.
Further Reading: What is dollar cost averaging (DCA)?
Want to see what other hedge funds are holding UNH? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for UnitedHealth Group Inc (NYSE:UNH).
Receive News & Ratings for UnitedHealth Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for UnitedHealth Group and related companies with MarketBeat.com's FREE daily email newsletter.