AGF Management Ltd. Sells 213,375 Shares of UnitedHealth Group Incorporated (NYSE:UNH)

Key Points

• AGF Management Ltd. reduced its stake in UnitedHealth Group by 70.3%, selling 213,375 shares and leaving it with a total of 90,206 shares worth approximately $47.25 million at the end of the quarter.
• UnitedHealth Group recently increased its quarterly dividend to $2.21 per share, reflecting a 3.5% yield and an annualized total of $8.84.
• Despite reporting revenue growth of 12.9% year-over-year, UnitedHealth missed earnings expectations with $4.08 EPS against a consensus of $4.45.

AGF Management Ltd. trimmed its position in UnitedHealth Group Incorporated (NYSE:UNH - Free Report) by 70.3% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 90,206 shares of the healthcare conglomerate's stock after selling 213,375 shares during the quarter. AGF Management Ltd.'s holdings in UnitedHealth Group were worth $47,245,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in UNH. Marshall & Sterling Wealth Advisors Inc. acquired a new position in shares of UnitedHealth Group during the fourth quarter worth $26,000. Bayforest Capital Ltd increased its holdings in shares of UnitedHealth Group by 685.7% during the first quarter. Bayforest Capital Ltd now owns 55 shares of the healthcare conglomerate's stock worth $29,000 after buying an additional 48 shares in the last quarter. IAG Wealth Partners LLC acquired a new position in shares of UnitedHealth Group during the first quarter worth $42,000. Kapitalo Investimentos Ltda bought a new stake in shares of UnitedHealth Group in the fourth quarter worth $41,000. Finally, Copia Wealth Management bought a new stake in shares of UnitedHealth Group in the fourth quarter worth $42,000. 87.86% of the stock is owned by institutional investors.

UnitedHealth Group Trading Up 2.5%

Shares of UNH stock opened at $250.74 on Monday. UnitedHealth Group Incorporated has a 52-week low of $234.60 and a 52-week high of $630.73. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.85 and a current ratio of 0.85. The company has a 50-day simple moving average of $291.78 and a two-hundred day simple moving average of $405.18. The company has a market capitalization of $227.46 billion, a price-to-earnings ratio of 10.86, a PEG ratio of 1.62 and a beta of 0.43.

UnitedHealth Group (NYSE:UNH - Get Free Report) last issued its quarterly earnings data on Tuesday, July 29th. The healthcare conglomerate reported $4.08 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $4.45 by ($0.37). UnitedHealth Group had a return on equity of 23.32% and a net margin of 5.04%. The firm had revenue of $111.62 billion during the quarter, compared to the consensus estimate of $111.75 billion. During the same period in the previous year, the company posted $6.80 earnings per share. The company's revenue for the quarter was up 12.9% on a year-over-year basis. Research analysts anticipate that UnitedHealth Group Incorporated will post 29.54 EPS for the current fiscal year.

UnitedHealth Group Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 24th. Stockholders of record on Monday, June 16th were given a dividend of $2.21 per share. The ex-dividend date of this dividend was Monday, June 16th. This represents a $8.84 dividend on an annualized basis and a dividend yield of 3.5%. This is an increase from UnitedHealth Group's previous quarterly dividend of $2.10. UnitedHealth Group's payout ratio is currently 38.30%.

Analyst Ratings Changes

Several analysts recently weighed in on UNH shares. HSBC reissued a "reduce" rating and issued a $270.00 price objective (down previously from $490.00) on shares of UnitedHealth Group in a research note on Wednesday, May 21st. Bank of America dropped their target price on shares of UnitedHealth Group from $350.00 to $300.00 and set a "neutral" rating on the stock in a report on Tuesday, July 29th. Wells Fargo & Company dropped their target price on shares of UnitedHealth Group from $306.00 to $267.00 and set an "overweight" rating on the stock in a report on Monday, August 4th. Mizuho dropped their target price on shares of UnitedHealth Group from $515.00 to $350.00 and set an "outperform" rating on the stock in a report on Friday, May 16th. Finally, KeyCorp dropped their target price on shares of UnitedHealth Group from $400.00 to $350.00 and set an "overweight" rating on the stock in a report on Wednesday, July 30th. Three investment analysts have rated the stock with a sell rating, seven have given a hold rating and fifteen have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $366.52.

Insider Activity

In other UnitedHealth Group news, Director Kristen Gil purchased 3,700 shares of the company's stock in a transaction that occurred on Thursday, May 15th. The shares were bought at an average cost of $271.17 per share, for a total transaction of $1,003,329.00. Following the purchase, the director owned 3,818 shares of the company's stock, valued at $1,035,327.06. This represents a 3,135.59% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Stephen J. Hemsley purchased 86,700 shares of the company's stock in a transaction that occurred on Friday, May 16th. The shares were acquired at an average price of $288.57 per share, for a total transaction of $25,019,019.00. Following the completion of the purchase, the chief executive officer directly owned 679,493 shares in the company, valued at $196,081,295.01. This represents a 14.63% increase in their position. The disclosure for this purchase can be found here. Over the last ninety days, insiders purchased 109,408 shares of company stock worth $31,607,768. 0.28% of the stock is owned by insiders.

About UnitedHealth Group

UnitedHealth Group Incorporated operates as a diversified health care company in the United States. The company 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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