Essex Financial Services Inc. raised its holdings in shares of UnitedHealth Group Inc (NYSE:UNH) by 5.5% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 10,349 shares of the healthcare conglomerate’s stock after purchasing an additional 544 shares during the period. Essex Financial Services Inc.’s holdings in UnitedHealth Group were worth $2,249,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in UNH. Selective Wealth Management Inc. bought a new stake in UnitedHealth Group during the third quarter valued at about $27,000. North Star Investment Management Corp. bought a new stake in UnitedHealth Group during the third quarter valued at about $30,000. Delta Asset Management LLC TN raised its holdings in UnitedHealth Group by 111.0% during the third quarter. Delta Asset Management LLC TN now owns 154 shares of the healthcare conglomerate’s stock valued at $33,000 after acquiring an additional 81 shares during the period. Fusion Family Wealth LLC raised its holdings in UnitedHealth Group by 329.7% during the third quarter. Fusion Family Wealth LLC now owns 159 shares of the healthcare conglomerate’s stock valued at $35,000 after acquiring an additional 122 shares during the period. Finally, Massey Quick Simon & CO. LLC raised its holdings in UnitedHealth Group by 212.5% during the third quarter. Massey Quick Simon & CO. LLC now owns 175 shares of the healthcare conglomerate’s stock valued at $38,000 after acquiring an additional 119 shares during the period. 85.66% of the stock is currently owned by hedge funds and other institutional investors.
A number of equities research analysts have commented on the company. Barclays set a $260.00 price target on UnitedHealth Group and gave the company a “buy” rating in a report on Tuesday, October 8th. Deutsche Bank started coverage on UnitedHealth Group in a research report on Thursday, September 12th. They set a “hold” rating and a $263.00 price objective for the company. Zacks Investment Research upgraded UnitedHealth Group from a “sell” rating to a “buy” rating and set a $269.00 price objective for the company in a research report on Monday, July 22nd. UBS Group cut their price objective on UnitedHealth Group from $281.00 to $257.00 and set a “neutral” rating for the company in a research report on Thursday, October 17th. Finally, Mizuho started coverage on UnitedHealth Group in a research report on Thursday, October 17th. They set a “buy” rating and a $270.00 price objective for the company. Five analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target of $283.84.
In other UnitedHealth Group news, Director Timothy Patrick Flynn bought 2,000 shares of the company’s stock in a transaction on Wednesday, August 28th. The stock was acquired at an average price of $227.55 per share, for a total transaction of $455,100.00. Following the completion of the transaction, the director now directly owns 5,524 shares of the company’s stock, valued at $1,256,986.20. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CAO Thomas E. Roos sold 1,177 shares of the business’s stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $255.04, for a total value of $300,182.08. Following the transaction, the chief accounting officer now owns 21,687 shares of the company’s stock, valued at approximately $5,531,052.48. The disclosure for this sale can be found here. In the last quarter, insiders sold 33,177 shares of company stock valued at $7,842,582. 0.87% of the stock is currently owned by company insiders.
UNH traded up $0.51 on Friday, hitting $256.97. The company had a trading volume of 2,200,215 shares, compared to its average volume of 4,544,972. The company has a market cap of $237.20 billion, a PE ratio of 19.95, a PEG ratio of 1.33 and a beta of 0.61. UnitedHealth Group Inc has a 12-month low of $208.07 and a 12-month high of $287.94. The company has a quick ratio of 0.67, a current ratio of 0.70 and a debt-to-equity ratio of 0.67. The business’s fifty day simple moving average is $234.29 and its 200 day simple moving average is $240.87.
UnitedHealth Group (NYSE:UNH) last released its quarterly earnings results on Tuesday, October 15th. The healthcare conglomerate reported $3.88 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $3.75 by $0.13. The company had revenue of $60.35 billion during the quarter, compared to analyst estimates of $59.84 billion. UnitedHealth Group had a return on equity of 25.30% and a net margin of 5.57%. The firm’s revenue was up 6.7% on a year-over-year basis. During the same quarter last year, the business posted $3.41 earnings per share. On average, analysts anticipate that UnitedHealth Group Inc will post 14.96 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 17th. Investors of record on Monday, December 9th will be given a $1.08 dividend. This represents a $4.32 annualized dividend and a yield of 1.68%. UnitedHealth Group’s dividend payout ratio is currently 33.54%.
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 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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