Buckingham Capital Management Inc. increased its position in shares of UnitedHealth Group Incorporated (NYSE:UNH) by 153.5% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 12,993 shares of the healthcare conglomerate’s stock after buying an additional 7,868 shares during the period. Buckingham Capital Management Inc.’s holdings in UnitedHealth Group were worth $2,409,000 at the end of the most recent reporting period.
Several other hedge funds have also recently added to or reduced their stakes in UNH. State Street Corp boosted its holdings in UnitedHealth Group by 2.5% in the first quarter. State Street Corp now owns 45,724,509 shares of the healthcare conglomerate’s stock valued at $7,499,276,000 after purchasing an additional 1,122,534 shares in the last quarter. Alliancebernstein L.P. boosted its holdings in UnitedHealth Group by 2.3% in the second quarter. Alliancebernstein L.P. now owns 7,906,936 shares of the healthcare conglomerate’s stock valued at $1,466,104,000 after purchasing an additional 174,290 shares in the last quarter. TIAA CREF Investment Management LLC boosted its holdings in UnitedHealth Group by 3.9% in the second quarter. TIAA CREF Investment Management LLC now owns 5,882,427 shares of the healthcare conglomerate’s stock valued at $1,090,720,000 after purchasing an additional 223,524 shares in the last quarter. Veritas Asset Management LLP boosted its holdings in UnitedHealth Group by 8.2% in the second quarter. Veritas Asset Management LLP now owns 5,291,867 shares of the healthcare conglomerate’s stock valued at $981,218,000 after purchasing an additional 399,878 shares in the last quarter. Finally, Legal & General Group Plc boosted its holdings in UnitedHealth Group by 2.6% in the second quarter. Legal & General Group Plc now owns 5,085,698 shares of the healthcare conglomerate’s stock valued at $943,004,000 after purchasing an additional 131,006 shares in the last quarter. Hedge funds and other institutional investors own 85.71% of the company’s stock.
A number of brokerages recently issued reports on UNH. Jefferies Group LLC reaffirmed a “buy” rating and issued a $215.00 price target on shares of UnitedHealth Group in a report on Friday, August 18th. Cowen and Company reissued an “outperform” rating and issued a $220.00 price objective (up from $175.00) on shares of UnitedHealth Group in a report on Friday, August 11th. Zacks Investment Research raised UnitedHealth Group from a “hold” rating to a “buy” rating and set a $215.00 price objective for the company in a report on Tuesday, August 1st. BMO Capital Markets started coverage on UnitedHealth Group in a report on Monday, October 16th. They issued an “outperform” rating and a $250.00 price objective for the company. Finally, Citigroup Inc. increased their price objective on UnitedHealth Group from $213.00 to $235.00 and gave the company a “buy” rating in a report on Wednesday, October 18th. Three investment analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the company. UnitedHealth Group currently has an average rating of “Buy” and a consensus target price of $216.65.
UnitedHealth Group Incorporated (NYSE:UNH) opened at $209.90 on Monday. The stock has a market capitalization of $202,940.00, a price-to-earnings ratio of 21.86, a price-to-earnings-growth ratio of 1.56 and a beta of 0.64. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.70 and a quick ratio of 0.70. UnitedHealth Group Incorporated has a 52-week low of $148.56 and a 52-week high of $213.93.
UnitedHealth Group (NYSE:UNH) last released its quarterly earnings data on Tuesday, October 17th. The healthcare conglomerate reported $2.66 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $2.57 by $0.09. The firm had revenue of $50.32 billion during the quarter, compared to analysts’ expectations of $50.38 billion. UnitedHealth Group had a return on equity of 21.52% and a net margin of 4.50%. UnitedHealth Group’s revenue was up 8.7% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.17 earnings per share. equities analysts expect that UnitedHealth Group Incorporated will post 9.99 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 12th. Shareholders of record on Friday, December 1st will be given a $0.75 dividend. This represents a $3.00 annualized dividend and a yield of 1.43%. The ex-dividend date is Thursday, November 30th. UnitedHealth Group’s payout ratio is 34.09%.
In other news, insider Larry C. Renfro sold 50,574 shares of the firm’s stock in a transaction on Friday, September 15th. The stock was sold at an average price of $198.11, for a total value of $10,019,215.14. Following the completion of the transaction, the insider now owns 195,625 shares in the company, valued at $38,755,268.75. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, Director Gail R. Wilensky sold 5,600 shares of the firm’s stock in a transaction on Tuesday, September 5th. The shares were sold at an average price of $199.49, for a total value of $1,117,144.00. Following the completion of the transaction, the director now owns 60,834 shares of the company’s stock, valued at approximately $12,135,774.66. The disclosure for this sale can be found here. Insiders sold 57,606 shares of company stock valued at $11,433,133 in the last quarter. 0.89% of the stock is currently owned by company insiders.
UnitedHealth Group Profile
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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