Columbia Asset Management Invests $152,000 in UnitedHealth Group Inc (UNH) Stock
Columbia Asset Management bought a new stake in shares of UnitedHealth Group Inc (NYSE:UNH) in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 571 shares of the healthcare conglomerate’s stock, valued at approximately $152,000.
Other hedge funds and other institutional investors have also bought and sold shares of the company. Argent Trust Co grew its holdings in shares of UnitedHealth Group by 8.3% during the 4th 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 period. Cornerstone Wealth Management LLC grew its holdings in shares of UnitedHealth Group by 24,755.2% during the 2nd quarter. Cornerstone Wealth Management LLC now owns 245,569 shares of the healthcare conglomerate’s stock worth $992,000 after acquiring an additional 244,581 shares during the period. First Command Bank purchased a new position in shares of UnitedHealth Group during the 2nd quarter worth approximately $204,000. RNC Capital Management LLC purchased a new position in shares of UnitedHealth Group during the 2nd quarter worth approximately $757,000. Finally, Hengehold Capital Management LLC purchased a new position in shares of UnitedHealth Group during the 2nd quarter worth approximately $220,000. Institutional investors own 85.45% of the company’s stock.
A number of analysts have recently commented on UNH shares. Citigroup cut UnitedHealth Group from a “buy” rating to a “neutral” rating and set a $288.00 price target on the stock. in a research report on Monday, September 10th. Zacks Investment Research cut UnitedHealth Group from a “buy” rating to a “hold” rating in a research report on Tuesday, September 18th. Raymond James boosted their price target on UnitedHealth Group from $285.00 to $304.00 and gave the stock a “strong-buy” rating in a research report on Monday, September 24th. Bank of America boosted their price target on UnitedHealth Group from $315.00 to $320.00 and gave the stock a “buy” rating in a research report on Wednesday, October 17th. Finally, Morgan Stanley boosted their price target on UnitedHealth Group from $278.00 to $305.00 and gave the stock an “overweight” rating in a research report on Wednesday, September 5th. One equities research analyst has rated the stock with a hold rating, twenty-two have issued a buy rating and one has assigned a strong buy rating to the stock. The stock 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 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.30 by $0.11. The business had revenue of $56.56 billion for 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% on a year-over-year basis. During the same period in the prior year, the firm posted $2.66 EPS. As a group, analysts forecast that UnitedHealth Group Inc will post 12.81 EPS 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 paid 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 1.38%. UnitedHealth Group’s dividend payout ratio is presently 35.75%.
In other UnitedHealth Group news, EVP D Ellen Wilson sold 15,393 shares of the business’s stock in a transaction on 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 sale, the executive vice president now directly owns 66,402 shares in the company, valued at approximately $17,549,384.58. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, Director Richard T. Burke sold 20,000 shares of the business’s stock in a transaction on Wednesday, September 12th. The shares were sold at an average price of $263.41, for a total transaction of $5,268,200.00. Following the sale, the director now owns 1,720,112 shares of the company’s stock, valued at $453,094,701.92. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 69,731 shares of company stock valued at $18,584,675. Company insiders own 0.87% of the company’s stock.
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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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