Pendal Group Ltd Trims Stock Position in UnitedHealth Group Inc (NYSE:UNH)
Pendal Group Ltd decreased its position in shares of UnitedHealth Group Inc (NYSE:UNH) by 29.4% during the 2nd quarter, according to its most recent disclosure with the SEC. The firm owned 40,650 shares of the healthcare conglomerate’s stock after selling 16,923 shares during the period. Pendal Group Ltd’s holdings in UnitedHealth Group were worth $9,919,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also recently made changes to their positions in UNH. Canton Hathaway LLC purchased a new position in shares of UnitedHealth Group during the first quarter valued at approximately $36,000. Truvestments Capital LLC acquired a new position in UnitedHealth Group during the first quarter worth approximately $42,000. Coastal Capital Group Inc. acquired a new position in UnitedHealth Group during the second quarter worth approximately $45,000. Creative Financial Designs Inc. ADV increased its position in UnitedHealth Group by 89.6% during the first quarter. Creative Financial Designs Inc. ADV now owns 201 shares of the healthcare conglomerate’s stock worth $50,000 after purchasing an additional 95 shares during the last quarter. Finally, Capital Advisors Ltd. LLC increased its position in UnitedHealth Group by 235.7% during the second quarter. Capital Advisors Ltd. LLC now owns 235 shares of the healthcare conglomerate’s stock worth $57,000 after purchasing an additional 165 shares during the last quarter. 85.65% of the stock is currently owned by institutional investors and hedge funds.
UNH traded up $6.42 during trading hours on Tuesday, reaching $249.62. 211,926 shares of the stock traded hands, compared to its average volume of 3,510,335. The business’s fifty day moving average price is $251.38. The firm has a market cap of $235.62 billion, a P/E ratio of 19.36, a price-to-earnings-growth ratio of 1.33 and a beta of 0.61. UnitedHealth Group Inc has a fifty-two week low of $208.07 and a fifty-two week high of $287.94. The company has a current ratio of 0.67, a quick ratio of 0.67 and a debt-to-equity ratio of 0.62.
In other news, Director Richard T. Burke sold 10,000 shares of the firm’s stock in a transaction dated Tuesday, June 11th. The shares were sold at an average price of $248.00, for a total value of $2,480,000.00. Following the transaction, the director now directly owns 187,663 shares in the company, valued at approximately $46,540,424. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director William C. Ballard, Jr. sold 12,000 shares of the firm’s stock in a transaction dated Tuesday, July 23rd. The stock was sold at an average price of $255.31, for a total transaction of $3,063,720.00. Following the completion of the transaction, the director now owns 61,309 shares in the company, valued at $15,652,800.79. The disclosure for this sale can be found here. Insiders have sold a total of 37,000 shares of company stock worth $9,195,620 over the last quarter. 0.82% of the stock is currently owned by insiders.
Several equities analysts recently commented on the stock. Royal Bank of Canada set a $311.00 price target on shares of UnitedHealth Group and gave the stock a “buy” rating in a research report on Friday, July 19th. Citigroup raised shares of UnitedHealth Group from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $247.00 to $280.00 in a research report on Friday, May 10th. UBS Group started coverage on shares of UnitedHealth Group in a research report on Tuesday, April 23rd. They issued a “neutral” rating and a $238.00 price objective for the company. Morgan Stanley increased their price objective on shares of UnitedHealth Group from $285.00 to $298.00 and gave the stock an “overweight” rating in a research report on Friday, July 12th. Finally, SunTrust Banks dropped their price objective on shares of UnitedHealth Group to $300.00 and set a “buy” rating for the company in a research report on Wednesday, April 17th. They noted that the move was a valuation call. One analyst has rated the stock with a sell rating, one has given a hold rating and eighteen have given a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus price target of $295.06.
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 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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