Westpac Banking Corp Sells 1,304 Shares of UnitedHealth Group Incorporated (NYSE:UNH)

Key Points

• Westpac Banking Corp reduced its stake in UnitedHealth Group by 6.0%, holding 20,289 shares valued at approximately $10.6 million after selling 1,304 shares.
• Insider transactions include CEO Stephen J. Hemsley acquiring 86,700 shares for over $25 million, increasing his ownership by 14.63%.
• UnitedHealth Group's recent earnings report showed an EPS of $4.08, falling short of estimates, with a revenue of $111.62 billion for the quarter.

Westpac Banking Corp decreased its position in UnitedHealth Group Incorporated (NYSE:UNH - Free Report) by 6.0% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 20,289 shares of the healthcare conglomerate's stock after selling 1,304 shares during the quarter. UnitedHealth Group accounts for approximately 0.8% of Westpac Banking Corp's holdings, making the stock its 21st largest position. Westpac Banking Corp's holdings in UnitedHealth Group were worth $10,626,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Brighton Jones LLC raised its position in shares of UnitedHealth Group by 176.2% during the 4th quarter. Brighton Jones LLC now owns 44,249 shares of the healthcare conglomerate's stock worth $22,384,000 after purchasing an additional 28,231 shares during the period. Revolve Wealth Partners LLC raised its position in shares of UnitedHealth Group by 137.1% during the 4th quarter. Revolve Wealth Partners LLC now owns 4,019 shares of the healthcare conglomerate's stock worth $2,033,000 after purchasing an additional 2,324 shares during the period. Bank Pictet & Cie Europe AG raised its position in shares of UnitedHealth Group by 3.9% during the 4th quarter. Bank Pictet & Cie Europe AG now owns 263,655 shares of the healthcare conglomerate's stock worth $133,373,000 after purchasing an additional 9,872 shares during the period. Peninsula Wealth LLC raised its position in shares of UnitedHealth Group by 4.9% during the 4th quarter. Peninsula Wealth LLC now owns 647 shares of the healthcare conglomerate's stock worth $327,000 after purchasing an additional 30 shares during the period. Finally, Cohen & Steers Inc. raised its position in shares of UnitedHealth Group by 36.1% during the 4th quarter. Cohen & Steers Inc. now owns 656 shares of the healthcare conglomerate's stock worth $332,000 after purchasing an additional 174 shares during the period. Institutional investors and hedge funds own 87.86% of the company's stock.

Insider Buying and Selling

In related news, Director Kristen Gil purchased 3,700 shares of the firm's stock in a transaction dated Thursday, May 15th. The shares were acquired at an average cost of $271.17 per share, with a total value of $1,003,329.00. Following the completion of the purchase, the director directly owned 3,818 shares of the company's stock, valued at $1,035,327.06. This trade represents a 3,135.59% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Patrick Hugh Conway sold 589 shares of the stock in a transaction that occurred on Tuesday, June 10th. The shares were sold at an average price of $305.00, for a total transaction of $179,645.00. Following the sale, the chief executive officer directly owned 10,398 shares in the company, valued at $3,171,390. This trade represents a 5.36% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders purchased 109,408 shares of company stock worth $31,607,768. Insiders own 0.28% of the company's stock.

UnitedHealth Group Stock Performance

NYSE UNH traded up $9.22 during trading on Tuesday, hitting $261.59. The company's stock had a trading volume of 12,160,581 shares, compared to its average volume of 18,478,328. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.73. The firm has a 50 day moving average price of $289.94 and a 200 day moving average price of $402.24. The firm has a market cap of $237.30 billion, a P/E ratio of 11.33, a price-to-earnings-growth ratio of 1.63 and a beta of 0.43. UnitedHealth Group Incorporated has a 52 week low of $234.60 and a 52 week high of $630.73.

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

UnitedHealth Group Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 24th. Stockholders of record on Monday, June 16th were paid a $2.21 dividend. The ex-dividend date was Monday, June 16th. This represents a $8.84 annualized dividend and a dividend yield of 3.4%. This is an increase from UnitedHealth Group's previous quarterly dividend of $2.10. UnitedHealth Group's dividend payout ratio is currently 38.30%.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on UNH shares. Mizuho reduced their price objective on UnitedHealth Group from $515.00 to $350.00 and set an "outperform" rating for the company in a research report on Friday, May 16th. Wells Fargo & Company cut their target price on shares of UnitedHealth Group from $306.00 to $267.00 and set an "overweight" rating for the company in a research note on Monday, August 4th. JPMorgan Chase & Co. dropped their target price on shares of UnitedHealth Group from $418.00 to $310.00 and set an "overweight" rating on the stock in a research report on Wednesday, August 6th. UBS Group reissued a "buy" rating on shares of UnitedHealth Group in a research report on Thursday, July 17th. Finally, Argus downgraded shares of UnitedHealth Group from a "buy" rating to a "hold" rating in a research report on Monday, April 21st. Three research analysts have rated the stock with a sell rating, seven have issued a hold rating and fifteen have issued a buy rating to the stock. According to data from MarketBeat.com, UnitedHealth Group has an average rating of "Hold" and a consensus price target of $366.52.

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.