Summit Global Investments Has $3.39 Million Holdings in UnitedHealth Group Incorporated (NYSE:UNH)

Summit Global Investments raised its position in UnitedHealth Group Incorporated (NYSE:UNH - Free Report) by 63.2% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 6,474 shares of the healthcare conglomerate's stock after acquiring an additional 2,506 shares during the quarter. Summit Global Investments' holdings in UnitedHealth Group were worth $3,391,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the company. NewSquare Capital LLC bought a new stake in UnitedHealth Group in the fourth quarter valued at approximately $25,000. Marshall & Sterling Wealth Advisors Inc. bought a new position in UnitedHealth Group during the fourth quarter worth $26,000. Hurley Capital LLC bought a new position in shares of UnitedHealth Group in the fourth quarter valued at about $28,000. Aster Capital Management DIFC Ltd bought a new stake in shares of UnitedHealth Group during the 4th quarter worth about $30,000. Finally, Promus Capital LLC bought a new position in UnitedHealth Group in the 4th quarter valued at about $32,000. 87.86% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at UnitedHealth Group

In other UnitedHealth Group news, CEO Stephen J. Hemsley purchased 86,700 shares of the company's stock in a transaction dated Friday, May 16th. The stock was purchased 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 now owns 679,493 shares of the company's stock, valued at approximately $196,081,295.01. The trade was a 14.63% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CFO John F. Rex bought 17,175 shares of UnitedHealth Group stock in a transaction that occurred on Friday, May 16th. The stock was bought at an average price of $291.12 per share, for a total transaction of $4,999,986.00. Following the completion of the acquisition, the chief financial officer now directly owns 203,796 shares of the company's stock, valued at $59,329,091.52. The trade was a 9.20% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders acquired a total of 109,408 shares of company stock worth $31,607,768 in the last quarter. 0.33% of the stock is owned by insiders.

UnitedHealth Group Price Performance

Shares of UnitedHealth Group stock traded up $2.91 during midday trading on Friday, hitting $301.08. 16,265,624 shares of the company traded hands, compared to its average volume of 6,787,922. The stock has a market cap of $273.12 billion, a price-to-earnings ratio of 19.42, a PEG ratio of 1.37 and a beta of 0.56. The company has a debt-to-equity ratio of 0.74, a quick ratio of 0.91 and a current ratio of 0.83. The firm's fifty day moving average price is $430.87 and its 200-day moving average price is $494.23. UnitedHealth Group Incorporated has a 12 month low of $248.88 and a 12 month high of $630.73.

UnitedHealth Group (NYSE:UNH - Get Free Report) last announced its quarterly earnings results on Thursday, April 17th. The healthcare conglomerate reported $7.20 EPS for the quarter, missing analysts' consensus estimates of $7.29 by ($0.09). UnitedHealth Group had a net margin of 3.60% and a return on equity of 26.69%. The firm had revenue of $109.58 billion during the quarter, compared to the consensus estimate of $111.56 billion. During the same quarter in the previous year, the company posted $6.91 earnings per share. As a group, sell-side analysts forecast that UnitedHealth Group Incorporated will post 29.54 earnings per share for the current year.

Analysts Set New Price Targets

Several research firms have recently commented on UNH. HSBC reaffirmed a "reduce" rating and issued a $270.00 target price (down previously from $490.00) on shares of UnitedHealth Group in a research report on Wednesday, May 21st. Deutsche Bank Aktiengesellschaft dropped their target price on UnitedHealth Group from $521.00 to $362.00 and set a "buy" rating for the company in a report on Wednesday, May 14th. TD Securities restated a "hold" rating and issued a $308.00 price target (down from $520.00) on shares of UnitedHealth Group in a research note on Monday, May 19th. Royal Bank of Canada cut their price objective on shares of UnitedHealth Group from $525.00 to $355.00 and set an "outperform" rating for the company in a report on Friday, May 16th. Finally, Morgan Stanley dropped their price target on shares of UnitedHealth Group from $563.00 to $374.00 and set an "overweight" rating for the company in a research report on Wednesday, May 14th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $441.87.

UnitedHealth Group Company Profile

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.