UnitedHealth Group Inc (UNH) Holdings Cut by Chemical Bank
Chemical Bank lessened its stake in shares of UnitedHealth Group Inc (NYSE:UNH) by 1.9% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 15,899 shares of the healthcare conglomerate’s stock after selling 306 shares during the period. Chemical Bank’s holdings in UnitedHealth Group were worth $4,230,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also modified their holdings of the company. Welch Group LLC acquired a new position in shares of UnitedHealth Group in the 2nd quarter valued at about $106,000. FNY Investment Advisers LLC acquired a new position in shares of UnitedHealth Group in the 3rd quarter valued at about $106,000. Blue Chip Partners Inc. acquired a new position in shares of UnitedHealth Group in the 2nd quarter valued at about $107,000. Fort L.P. acquired a new position in shares of UnitedHealth Group in the 2nd quarter valued at about $119,000. Finally, Polaris Greystone Financial Group LLC acquired a new position in shares of UnitedHealth Group in the 3rd quarter valued at about $120,000. Institutional investors own 85.47% of the company’s stock.
A number of equities analysts have recently weighed in on the company. BMO Capital Markets upped their target price on UnitedHealth Group to $310.00 and gave the company an “outperform” rating in a report on Thursday, October 18th. Piper Jaffray Companies upped their target price on UnitedHealth Group to $300.00 and gave the company an “overweight” rating in a report on Wednesday, October 17th. Raymond James upped their target price on UnitedHealth Group from $304.00 to $310.00 and gave the company a “strong-buy” rating in a report on Wednesday, October 17th. Royal Bank of Canada upped their target price on UnitedHealth Group to $308.00 and gave the company an “outperform” rating in a report on Wednesday, October 17th. Finally, Citigroup downgraded UnitedHealth Group from a “buy” rating to a “neutral” rating and set a $288.00 target price on the stock. in a report on Monday, September 10th. One research analyst has rated the stock with a hold rating, twenty-two have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus target price of $289.41.
UnitedHealth Group (NYSE:UNH) last announced its quarterly earnings results on Tuesday, October 16th. The healthcare conglomerate reported $3.41 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $3.30 by $0.11. The business had revenue of $56.56 billion during the quarter, compared to analysts’ expectations of $56.34 billion. UnitedHealth Group had a return on equity of 23.62% and a net margin of 5.71%. The firm’s quarterly revenue was up 12.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.66 EPS. As a group, equities analysts forecast that UnitedHealth Group Inc will post 12.81 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, December 13th. Shareholders of record on Monday, December 3rd will be given a dividend of $0.90 per share. The ex-dividend date is Friday, November 30th. This represents a $3.60 dividend on an annualized basis and a yield of 1.33%. UnitedHealth Group’s payout ratio is currently 35.75%.
In other UnitedHealth Group news, EVP D Ellen Wilson sold 15,393 shares of the company’s stock in a transaction that occurred on Friday, August 24th. The stock was sold at an average price of $264.29, for a total transaction of $4,068,215.97. Following the completion of the sale, the executive vice president now owns 66,402 shares of the company’s stock, valued at $17,549,384.58. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Kenneth Irwin Shine sold 163 shares of the company’s stock in a transaction that occurred on Friday, November 9th. The stock was sold at an average price of $274.83, for a total value of $44,797.29. The disclosure for this sale can be found here. Insiders have sold 69,731 shares of company stock valued at $18,584,675 in the last ninety days. Company insiders own 0.87% 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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