Corundum Group Inc. cut its stake in shares of UnitedHealth Group Incorporated (NYSE:UNH - Free Report) by 26.7% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,447 shares of the healthcare conglomerate's stock after selling 892 shares during the quarter. Corundum Group Inc.'s holdings in UnitedHealth Group were worth $1,282,000 as of its most recent SEC filing.
Several other large investors also recently modified their holdings of UNH. Norges Bank purchased a new stake in shares of UnitedHealth Group in the fourth quarter valued at about $6,375,744,000. GAMMA Investing LLC boosted its position in UnitedHealth Group by 56,142.1% in the first quarter. GAMMA Investing LLC now owns 8,295,153 shares of the healthcare conglomerate's stock worth $4,344,586,000 after purchasing an additional 8,280,404 shares during the last quarter. Raymond James Financial Inc. purchased a new stake in shares of UnitedHealth Group during the 4th quarter valued at $1,914,740,000. Amundi grew its position in UnitedHealth Group by 97.2% during the fourth quarter. Amundi now owns 6,069,100 shares of the healthcare conglomerate's stock valued at $3,183,132,000 after buying an additional 2,991,470 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in UnitedHealth Group by 36.6% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 8,592,718 shares of the healthcare conglomerate's stock worth $4,346,712,000 after acquiring an additional 2,301,010 shares during the period. 87.86% of the stock is currently owned by institutional investors and hedge funds.
Insider Buying and Selling at UnitedHealth Group
In related news, CEO Stephen J. Hemsley bought 86,700 shares of the company's stock in a transaction on Friday, May 16th. The shares were purchased at an average cost of $288.57 per share, with a total value of $25,019,019.00. Following the completion of the transaction, the chief executive officer now directly owns 679,493 shares of the company's stock, valued at approximately $196,081,295.01. This represents a 14.63% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Kristen Gil purchased 3,700 shares of the stock in a transaction dated Thursday, May 15th. The shares were acquired at an average cost of $271.17 per share, for a total transaction of $1,003,329.00. Following the completion of the acquisition, the director now directly owns 3,818 shares of the company's stock, valued at approximately $1,035,327.06. This trade represents a 3,135.59% increase in their position. The disclosure for this purchase can be found here. Insiders have purchased 109,408 shares of company stock valued at $31,607,768 over the last three months. 0.28% of the stock is owned by company insiders.
Analysts Set New Price Targets
A number of equities research analysts recently issued reports on the company. Deutsche Bank Aktiengesellschaft lowered their price objective on UnitedHealth Group from $521.00 to $362.00 and set a "buy" rating on the stock in a research report on Wednesday, May 14th. Oppenheimer dropped their price objective on UnitedHealth Group from $600.00 to $400.00 and set an "outperform" rating for the company in a report on Wednesday, May 14th. Royal Bank Of Canada reduced their target price on shares of UnitedHealth Group from $525.00 to $355.00 and set an "outperform" rating on the stock in a research report on Friday, May 16th. Wolfe Research dropped their price target on shares of UnitedHealth Group from $501.00 to $390.00 and set an "outperform" rating on the stock in a research note on Tuesday, May 20th. Finally, Robert W. Baird downgraded UnitedHealth Group from an "outperform" rating to a "neutral" rating and set a $312.00 price target on the stock. in a report on Wednesday, June 11th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and sixteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $415.57.
Read Our Latest Analysis on UnitedHealth Group
UnitedHealth Group Stock Performance
NYSE:UNH traded up $0.41 during trading hours on Thursday, reaching $302.43. 6,497,799 shares of the company's stock were exchanged, compared to its average volume of 7,416,648. UnitedHealth Group Incorporated has a 1-year low of $248.88 and a 1-year high of $630.73. The company has a 50-day moving average of $342.22 and a 200 day moving average of $458.07. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.71. The firm has a market capitalization of $274.35 billion, a price-to-earnings ratio of 12.66, a P/E/G ratio of 1.43 and a beta of 0.44.
UnitedHealth Group (NYSE:UNH - Get Free Report) last issued its earnings results on Thursday, April 17th. The healthcare conglomerate reported $7.20 earnings per share for the quarter, missing the consensus estimate of $7.29 by ($0.09). The company had revenue of $109.58 billion for the quarter, compared to analyst estimates of $111.56 billion. UnitedHealth Group had a return on equity of 26.29% and a net margin of 5.39%. During the same quarter in the previous year, the company posted $6.91 earnings per share. Research analysts anticipate that UnitedHealth Group Incorporated will post 29.54 EPS for the current year.
UnitedHealth Group Increases Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 24th. Shareholders of record on Monday, June 16th were paid a dividend of $2.21 per share. This is an increase from UnitedHealth Group's previous quarterly dividend of $2.10. This represents a $8.84 annualized dividend and a yield of 2.92%. The ex-dividend date of this dividend was Monday, June 16th. UnitedHealth Group's payout ratio is currently 37.02%.
About UnitedHealth Group
(
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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