Victory Capital Management Inc. cut its position in shares of UnitedHealth Group Inc (NYSE:UNH) by 10.2% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 377,356 shares of the healthcare conglomerate’s stock after selling 42,820 shares during the quarter. Victory Capital Management Inc.’s holdings in UnitedHealth Group were worth $100,391,000 at the end of the most recent quarter.
A number of other hedge funds have also recently bought and sold shares of the business. White Lighthouse Investment Management Inc. acquired a new position in shares of UnitedHealth Group in the 2nd quarter valued at about $324,000. Wells Fargo & Company MN increased its holdings in shares of UnitedHealth Group by 0.5% in the 2nd quarter. Wells Fargo & Company MN now owns 7,692,899 shares of the healthcare conglomerate’s stock valued at $1,887,377,000 after purchasing an additional 39,480 shares during the period. Sawtooth Solutions LLC increased its holdings in shares of UnitedHealth Group by 34.4% in the 3rd quarter. Sawtooth Solutions LLC now owns 4,413 shares of the healthcare conglomerate’s stock valued at $1,174,000 after purchasing an additional 1,129 shares during the period. Page Arthur B acquired a new position in shares of UnitedHealth Group in the 3rd quarter valued at about $1,026,000. Finally, Granite Investment Advisors LLC increased its holdings in shares of UnitedHealth Group by 1.4% in the 2nd quarter. Granite Investment Advisors LLC now owns 34,225 shares of the healthcare conglomerate’s stock valued at $8,397,000 after purchasing an additional 476 shares during the period. 85.43% of the stock is owned by institutional investors.
UNH has been the topic of a number of research reports. Raymond James upped their target price on UnitedHealth Group from $285.00 to $304.00 and gave the company a “strong-buy” rating in a report on Monday, September 24th. ValuEngine upgraded UnitedHealth Group from a “hold” rating to a “buy” rating in a report on Tuesday, October 2nd. Bank of America upped their target price on UnitedHealth Group from $315.00 to $320.00 and gave the company a “buy” rating in a report on Wednesday, October 17th. Leerink Swann reiterated an “outperform” rating on shares of UnitedHealth Group in a report on Wednesday, July 18th. Finally, Oppenheimer increased their price objective on UnitedHealth Group from $276.00 to $295.00 and gave the stock an “outperform” rating in a report on Wednesday, October 17th. One equities research analyst has rated the stock with a hold rating, twenty-two have issued a buy rating and one has given a strong buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of $289.41.
NYSE:UNH opened at $276.55 on Friday. UnitedHealth Group Inc has a 52 week low of $208.48 and a 52 week high of $278.00. The company has a market capitalization of $264.32 billion, a P/E ratio of 22.55, a PEG ratio of 1.58 and a beta of 0.78. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.75 and a current ratio of 0.69.
UnitedHealth Group (NYSE:UNH) last announced its earnings results on Tuesday, October 16th. The healthcare conglomerate reported $3.41 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.30 by $0.11. The firm had revenue of $56.56 billion during the quarter, compared to analysts’ expectations of $56.34 billion. UnitedHealth Group had a return on equity of 23.62% and a net margin of 5.71%. The company’s revenue was up 12.4% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.66 earnings per share. On average, sell-side analysts anticipate that UnitedHealth Group Inc will post 12.81 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, December 13th. Shareholders of record on Monday, December 3rd will be given a dividend of $0.90 per share. This represents a $3.60 dividend on an annualized basis and a yield of 1.30%. UnitedHealth Group’s payout ratio is currently 35.75%.
In other UnitedHealth Group news, EVP D Ellen Wilson sold 15,393 shares of the company’s stock in a transaction that occurred on Friday, August 24th. The stock was sold at an average price of $264.29, for a total transaction of $4,068,215.97. Following the completion of the sale, the executive vice president now owns 66,402 shares of the company’s stock, valued at $17,549,384.58. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Steven H. Nelson sold 8,142 shares of the company’s stock in a transaction that occurred on Thursday, September 13th. The stock was sold at an average price of $265.00, for a total value of $2,157,630.00. Following the sale, the chief executive officer now directly owns 22,496 shares of the company’s stock, valued at approximately $5,961,440. The disclosure for this sale can be found here. Insiders have sold 69,568 shares of company stock valued at $18,539,877 in the last ninety days. Company insiders own 0.87% of the company’s stock.
About UnitedHealth Group
UnitedHealth Group Incorporated operates as a diversified health care company in the United States. It operates through four segments: UnitedHealthcare, OptumHealth, OptumInsight, and OptumRx. 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 for preventive and acute health care services, as well as services dealing with chronic disease and other specialized issues for older individuals; and Medicaid plans, Children's Health Insurance Program, and health care programs; and health and dental benefits.
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