Legacy Bridge LLC decreased its holdings in shares of UnitedHealth Group Incorporated (NYSE:UNH – Free Report) by 6.2% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,010 shares of the healthcare conglomerate’s stock after selling 200 shares during the period. Legacy Bridge LLC’s holdings in UnitedHealth Group were worth $1,447,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Chelsea Counsel Co. purchased a new position in shares of UnitedHealth Group during the 4th quarter worth approximately $27,000. 25 LLC purchased a new position in shares of UnitedHealth Group during the 1st quarter worth approximately $28,000. Cascade Investment Advisors Inc. purchased a new position in shares of UnitedHealth Group during the 1st quarter worth approximately $28,000. Freedom Wealth Alliance LLC purchased a new position in shares of UnitedHealth Group during the 4th quarter worth approximately $31,000. Finally, Kalos Management Inc. purchased a new position in shares of UnitedHealth Group during the 1st quarter worth approximately $34,000. Institutional investors own 85.69% of the company’s stock.
Analyst Ratings Changes
Several research firms recently weighed in on UNH. Sanford C. Bernstein upgraded UnitedHealth Group from a “market perform” rating to an “outperform” rating and upped their price target for the stock from $595.00 to $603.00 in a research note on Tuesday, July 18th. Deutsche Bank Aktiengesellschaft cut their price target on UnitedHealth Group from $564.00 to $555.00 in a research note on Monday, July 17th. Royal Bank of Canada cut their price target on UnitedHealth Group from $592.00 to $572.00 and set an “outperform” rating on the stock in a research note on Monday, July 17th. StockNews.com started coverage on UnitedHealth Group in a research report on Thursday, August 17th. They issued a “buy” rating on the stock. Finally, Morgan Stanley reaffirmed an “overweight” rating and issued a $587.00 price objective on shares of UnitedHealth Group in a research report on Friday, July 14th. Two equities research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $575.65.
In other news, CEO Andrew Witty sold 4,000 shares of the firm’s stock in a transaction dated Wednesday, July 19th. The stock was sold at an average price of $506.19, for a total transaction of $2,024,760.00. Following the completion of the transaction, the chief executive officer now owns 78,573 shares in the company, valued at $39,772,866.87. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 0.35% of the company’s stock.
UnitedHealth Group Trading Down 0.1 %
Shares of UNH stock opened at $486.06 on Tuesday. UnitedHealth Group Incorporated has a 52-week low of $445.68 and a 52-week high of $558.10. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.80 and a current ratio of 0.80. The firm has a market capitalization of $450.24 billion, a PE ratio of 21.75, a PEG ratio of 1.43 and a beta of 0.66. The stock has a fifty day simple moving average of $492.05 and a two-hundred day simple moving average of $486.73.
UnitedHealth Group (NYSE:UNH – Get Free Report) last issued its quarterly earnings results on Friday, July 14th. The healthcare conglomerate reported $6.14 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.92 by $0.22. The business had revenue of $92.90 billion during the quarter, compared to analyst estimates of $90.97 billion. UnitedHealth Group had a return on equity of 26.72% and a net margin of 6.06%. UnitedHealth Group’s revenue for the quarter was up 15.6% compared to the same quarter last year. During the same quarter in the prior year, the business posted $5.57 EPS. On average, analysts predict that UnitedHealth Group Incorporated will post 24.83 EPS for the current fiscal year.
UnitedHealth Group Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 19th. Stockholders of record on Monday, September 11th will be given a dividend of $1.88 per share. The ex-dividend date is Friday, September 8th. This represents a $7.52 dividend on an annualized basis and a dividend yield of 1.55%. UnitedHealth Group’s payout ratio is 33.65%.
About UnitedHealth Group
UnitedHealth Group Incorporated operates as a diversified health care company in the United States. It operates through four segments: UnitedHealthcare, Optum Health, Optum Insight, and Optum Rx. 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; Medicaid plans, children's health insurance and health care programs; and health and dental benefits, and hospital and clinical services, as well as health care benefits products and services to state programs caring for the economically disadvantaged, medically underserved, and those without the benefit of employer-funded health care coverage.
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