Kornitzer Capital Management Inc. KS lowered its position in UnitedHealth Group Inc (NYSE:UNH) by 64.9% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 9,572 shares of the healthcare conglomerate’s stock after selling 17,723 shares during the quarter. Kornitzer Capital Management Inc. KS’s holdings in UnitedHealth Group were worth $2,080,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently made changes to their positions in UNH. Nuveen Asset Management LLC lifted its stake in UnitedHealth Group by 1,354.6% in the second quarter. Nuveen Asset Management LLC now owns 8,540,562 shares of the healthcare conglomerate’s stock valued at $2,083,983,000 after acquiring an additional 7,953,416 shares during the last quarter. Thoroughbred Financial Services LLC lifted its stake in shares of UnitedHealth Group by 25,321.4% during the 2nd quarter. Thoroughbred Financial Services LLC now owns 1,922,872 shares of the healthcare conglomerate’s stock worth $192,287,000 after buying an additional 1,915,308 shares during the last quarter. Boston Partners lifted its stake in shares of UnitedHealth Group by 160.8% during the 2nd quarter. Boston Partners now owns 2,550,998 shares of the healthcare conglomerate’s stock worth $622,942,000 after buying an additional 1,572,711 shares during the last quarter. Sanders Capital LLC lifted its stake in shares of UnitedHealth Group by 50.2% during the 2nd quarter. Sanders Capital LLC now owns 4,626,666 shares of the healthcare conglomerate’s stock worth $1,255,689,000 after buying an additional 1,546,140 shares during the last quarter. Finally, Viking Global Investors LP lifted its stake in shares of UnitedHealth Group by 28.6% during the 2nd quarter. Viking Global Investors LP now owns 4,812,185 shares of the healthcare conglomerate’s stock worth $1,174,221,000 after buying an additional 1,071,149 shares during the last quarter. Hedge funds and other institutional investors own 85.66% of the company’s stock.
UnitedHealth Group stock traded up $0.51 during midday trading on Friday, hitting $256.97. The company’s stock had a trading volume of 2,161,274 shares, compared to its average volume of 4,544,972. UnitedHealth Group Inc has a 1-year low of $208.07 and a 1-year high of $287.94. The company has a debt-to-equity ratio of 0.67, a current ratio of 0.70 and a quick ratio of 0.67. The company has a 50-day moving average price of $234.76 and a two-hundred day moving average price of $241.05. The company has a market cap of $237.20 billion, a price-to-earnings ratio of 19.95, a PEG ratio of 1.33 and a beta of 0.61.
UnitedHealth Group (NYSE:UNH) last issued its quarterly earnings data on Tuesday, October 15th. The healthcare conglomerate reported $3.88 earnings per share for the quarter, topping the consensus estimate of $3.75 by $0.13. UnitedHealth Group had a net margin of 5.57% and a return on equity of 25.30%. The business had revenue of $60.35 billion during the quarter, compared to analysts’ expectations of $59.84 billion. During the same quarter in the previous year, the company earned $3.41 EPS. The business’s revenue was up 6.7% on a year-over-year basis. Sell-side analysts forecast that UnitedHealth Group Inc will post 14.96 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 17th. Shareholders of record on Monday, December 9th will be issued 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%.
In other news, Director Timothy Patrick Flynn bought 2,000 shares of the firm’s stock in a transaction on Wednesday, August 28th. The shares were purchased at an average cost of $227.55 per share, with a total value of $455,100.00. Following the acquisition, the director now directly owns 5,524 shares in the company, valued at $1,256,986.20. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CAO Thomas E. Roos sold 1,177 shares of the firm’s stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $255.04, for a total transaction of $300,182.08. Following the completion of the transaction, the chief accounting officer now directly owns 21,687 shares in the company, valued at $5,531,052.48. The disclosure for this sale can be found here. Over the last three months, insiders sold 33,177 shares of company stock worth $7,842,582. Insiders own 0.87% of the company’s stock.
A number of research firms have recently issued reports on UNH. Oppenheimer set a $312.00 target price on shares of UnitedHealth Group and gave the stock a “buy” rating in a research note on Friday, July 19th. Mizuho began coverage on shares of UnitedHealth Group in a research note on Thursday, October 17th. They set a “buy” rating and a $270.00 target price for the company. Cantor Fitzgerald set a $310.00 target price on shares of UnitedHealth Group and gave the stock a “buy” rating in a research note on Tuesday, October 15th. BMO Capital Markets cut shares of UnitedHealth Group from an “outperform” rating to a “market perform” rating and cut their target price for the stock from $292.00 to $249.00 in a research note on Monday, September 30th. Finally, Royal Bank of Canada set a $311.00 target price on shares of UnitedHealth Group and gave the stock a “buy” rating in a research note on Friday, July 19th. Five equities research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus target price of $283.84.
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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