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Azimuth Capital Investment Management LLC Cuts Position in UnitedHealth Group Incorporated (NYSE:UNH)

UnitedHealth Group logo with Medical background

Key Points

  • Azimuth Capital Investment Management LLC has reduced its stake in UnitedHealth Group by 5.9%, now holding 50,689 shares valued at approximately $26.55 million.
  • CEO Stephen J. Hemsley significantly increased his ownership in the company by purchasing 86,700 shares for about $25 million, reflecting a 14.63% increase in his position.
  • UnitedHealth Group recently reported quarterly earnings with $4.08 earnings per share, missing estimates, while also announcing a $2.21 quarterly dividend with a yield of 3.3%.
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Azimuth Capital Investment Management LLC trimmed its holdings in UnitedHealth Group Incorporated (NYSE:UNH - Free Report) by 5.9% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 50,689 shares of the healthcare conglomerate's stock after selling 3,177 shares during the period. UnitedHealth Group accounts for about 1.1% of Azimuth Capital Investment Management LLC's investment portfolio, making the stock its 23rd largest position. Azimuth Capital Investment Management LLC's holdings in UnitedHealth Group were worth $26,548,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Citizens National Bank Trust Department raised its holdings in UnitedHealth Group by 1.0% in the first quarter. Citizens National Bank Trust Department now owns 17,886 shares of the healthcare conglomerate's stock valued at $9,368,000 after buying an additional 170 shares during the period. Fort Washington Investment Advisors Inc. OH raised its stake in shares of UnitedHealth Group by 0.3% during the first quarter. Fort Washington Investment Advisors Inc. OH now owns 530,103 shares of the healthcare conglomerate's stock valued at $277,641,000 after purchasing an additional 1,465 shares during the period. Sherbrooke Park Advisers LLC purchased a new stake in shares of UnitedHealth Group during the fourth quarter valued at approximately $515,000. Full Sail Capital LLC raised its stake in shares of UnitedHealth Group by 2.1% during the fourth quarter. Full Sail Capital LLC now owns 1,612 shares of the healthcare conglomerate's stock valued at $815,000 after purchasing an additional 33 shares during the period. Finally, Soros Fund Management LLC acquired a new stake in shares of UnitedHealth Group during the fourth quarter worth approximately $39,413,000. 87.86% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at UnitedHealth Group

In related news, CEO Stephen J. Hemsley purchased 86,700 shares of the firm's stock in a transaction dated Friday, May 16th. The stock was bought at an average price of $288.57 per share, with a total value of $25,019,019.00. Following the completion of the purchase, the chief executive officer owned 679,493 shares in the company, valued at approximately $196,081,295.01. This represents a 14.63% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO John F. Rex purchased 17,175 shares of the firm's stock in a transaction dated Friday, May 16th. The stock was bought at an average cost of $291.12 per share, with a total value of $4,999,986.00. Following the purchase, the chief financial officer owned 203,796 shares of the company's stock, valued at approximately $59,329,091.52. This trade represents a 9.20% increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 0.28% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the stock. Bank of America decreased their price objective on shares of UnitedHealth Group from $350.00 to $300.00 and set a "neutral" rating for the company in a report on Tuesday, July 29th. Morgan Stanley cut their target price on UnitedHealth Group from $563.00 to $374.00 and set an "overweight" rating on the stock in a research note on Wednesday, May 14th. Erste Group Bank cut UnitedHealth Group from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, April 30th. Barclays restated an "overweight" rating on shares of UnitedHealth Group in a research note on Thursday, July 17th. Finally, Wall Street Zen cut shares of UnitedHealth Group from a "buy" rating to a "hold" rating in a research note on Saturday, May 24th. Three research analysts have rated the stock with a sell rating, seven have given a hold rating and fifteen have given a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $366.52.

Get Our Latest Research Report on UNH

UnitedHealth Group Stock Performance

Shares of NYSE UNH opened at $271.92 on Thursday. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.73. UnitedHealth Group Incorporated has a 12 month low of $234.60 and a 12 month high of $630.73. The stock has a 50 day moving average of $289.37 and a 200-day moving average of $401.34. The company has a market capitalization of $246.27 billion, a P/E ratio of 11.78, a P/E/G ratio of 1.69 and a beta of 0.43.

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

UnitedHealth Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 23rd. Shareholders of record on Monday, September 15th will be given a $2.21 dividend. This represents a $8.84 annualized dividend and a yield of 3.3%. UnitedHealth Group's dividend payout ratio is presently 38.30%.

UnitedHealth Group Company Profile

(Free Report)

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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Institutional Ownership by Quarter for UnitedHealth Group (NYSE:UNH)

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.

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