Cubic Asset Management LLC lessened its stake in shares of UnitedHealth Group Incorporated (NYSE:UNH) by 4.1% in the second quarter, according to the company in its most recent filing with the SEC. The fund owned 35,941 shares of the healthcare conglomerate’s stock after selling 1,550 shares during the quarter. UnitedHealth Group comprises about 1.9% of Cubic Asset Management LLC’s portfolio, making the stock its 10th largest holding. Cubic Asset Management LLC’s holdings in UnitedHealth Group were worth $6,664,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors also recently bought and sold shares of UNH. Quantitative Systematic Strategies LLC acquired a new stake in UnitedHealth Group in the 1st quarter worth about $331,000. Ledyard National Bank raised its stake in UnitedHealth Group by 62.7% in the 1st quarter. Ledyard National Bank now owns 1,103 shares of the healthcare conglomerate’s stock worth $181,000 after purchasing an additional 425 shares in the last quarter. Johanson Financial Advisors Inc. acquired a new stake in UnitedHealth Group in the 1st quarter worth about $1,068,000. Oakbrook Investments LLC raised its stake in UnitedHealth Group by 146.5% in the 1st quarter. Oakbrook Investments LLC now owns 41,775 shares of the healthcare conglomerate’s stock worth $6,852,000 after purchasing an additional 24,825 shares in the last quarter. Finally, TRUE Private Wealth Advisors raised its stake in UnitedHealth Group by 11.4% in the 1st quarter. TRUE Private Wealth Advisors now owns 5,219 shares of the healthcare conglomerate’s stock worth $866,000 after purchasing an additional 533 shares in the last quarter. Institutional investors own 86.21% of the company’s stock.
Several analysts have weighed in on UNH shares. Zacks Investment Research cut shares of UnitedHealth Group from a “buy” rating to a “hold” rating in a research note on Friday, May 19th. Jefferies Group LLC reissued a “buy” rating and issued a $192.00 target price on shares of UnitedHealth Group in a report on Friday, May 19th. Vetr lowered shares of UnitedHealth Group from a “buy” rating to a “hold” rating and set a $179.00 target price on the stock. in a report on Monday, May 22nd. Morgan Stanley initiated coverage on shares of UnitedHealth Group in a report on Tuesday, June 6th. They issued an “overweight” rating and a $202.00 target price on the stock. Finally, BidaskClub raised shares of UnitedHealth Group from a “hold” rating to a “buy” rating in a report on Friday, June 9th. One equities research analyst has rated the stock with a hold rating and twenty-five have given a buy rating to the company. UnitedHealth Group presently has a consensus rating of “Buy” and an average price target of $203.41.
UnitedHealth Group Incorporated (NYSE:UNH) opened at 197.66 on Friday. UnitedHealth Group Incorporated has a 52-week low of $133.03 and a 52-week high of $200.76. The company’s 50 day moving average is $195.02 and its 200-day moving average is $180.41. The firm has a market cap of $191.11 billion, a P/E ratio of 23.75 and a beta of 0.63.
UnitedHealth Group (NYSE:UNH) last announced its quarterly earnings results on Tuesday, July 18th. The healthcare conglomerate reported $2.46 EPS for the quarter, topping analysts’ consensus estimates of $2.38 by $0.08. The company had revenue of $50.05 billion during the quarter, compared to analyst estimates of $49.97 billion. UnitedHealth Group had a return on equity of 21.52% and a net margin of 4.32%. The firm’s revenue was up 7.7% on a year-over-year basis. During the same quarter last year, the firm posted $1.96 earnings per share. On average, equities analysts predict that UnitedHealth Group Incorporated will post $9.87 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 19th. Shareholders of record on Friday, September 8th will be given a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a yield of 1.52%. The ex-dividend date is Thursday, September 7th. UnitedHealth Group’s dividend payout ratio is currently 35.13%.
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In other news, Director William C. Ballard, Jr. sold 5,000 shares of UnitedHealth Group stock in a transaction dated Thursday, August 3rd. The stock was sold at an average price of $193.98, for a total value of $969,900.00. Following the completion of the transaction, the director now owns 76,058 shares of the company’s stock, valued at approximately $14,753,730.84. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Richard T. Burke sold 15,000 shares of UnitedHealth Group stock in a transaction dated Monday, August 21st. The stock was sold at an average price of $191.71, for a total value of $2,875,650.00. Following the completion of the transaction, the director now directly owns 1,818,898 shares of the company’s stock, valued at approximately $348,700,935.58. The disclosure for this sale can be found here. Insiders have sold 25,600 shares of company stock valued at $4,962,694 in the last three months. Insiders own 0.89% of the company’s stock.
About UnitedHealth Group
UnitedHealth Group Incorporated is a health and well-being company. The Company operates through four segments: UnitedHealthcare, OptumHealth, OptumInsight and OptumRx. It conducts its operations through two business platforms: health benefits operating under UnitedHealthcare and health services operating under Optum.
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