Evercore Wealth Management LLC lowered its position in shares of UnitedHealth Group Inc. (NYSE:UNH) by 1.2% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 478,621 shares of the healthcare conglomerate’s stock after selling 5,865 shares during the period. UnitedHealth Group accounts for about 3.0% of Evercore Wealth Management LLC’s investment portfolio, making the stock its largest position. Evercore Wealth Management LLC’s holdings in UnitedHealth Group were worth $67,581,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Omega Advisors Inc. acquired a new position in shares of UnitedHealth Group during the first quarter worth approximately $64,386,000. Edgar Lomax Co. VA increased its stake in shares of UnitedHealth Group by 0.7% in the first quarter. Edgar Lomax Co. VA now owns 503,143 shares of the healthcare conglomerate’s stock valued at $64,855,000 after buying an additional 3,438 shares during the last quarter. Gateway Investment Advisers LLC increased its stake in shares of UnitedHealth Group by 8.8% in the second quarter. Gateway Investment Advisers LLC now owns 815,807 shares of the healthcare conglomerate’s stock valued at $115,192,000 after buying an additional 66,274 shares during the last quarter. Origin Asset Management LLP purchased a new stake in shares of UnitedHealth Group during the first quarter valued at about $34,616,000. Finally, Panagora Asset Management Inc. increased its stake in shares of UnitedHealth Group by 5.0% in the first quarter. Panagora Asset Management Inc. now owns 947,733 shares of the healthcare conglomerate’s stock valued at $122,163,000 after buying an additional 44,707 shares during the last quarter. Hedge funds and other institutional investors own 85.78% of the company’s stock.
UnitedHealth Group Inc. (NYSE:UNH) opened at 136.66 on Monday. The company’s 50-day moving average is $137.80 and its 200-day moving average is $136.35. The firm has a market capitalization of $130.15 billion, a P/E ratio of 21.39 and a beta of 0.57. UnitedHealth Group Inc. has a 52-week low of $107.51 and a 52-week high of $144.48.
UnitedHealth Group (NYSE:UNH) last announced its quarterly earnings data on Tuesday, July 19th. The healthcare conglomerate reported $1.96 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.89 by $0.07. UnitedHealth Group had a net margin of 3.51% and a return on equity of 19.08%. The business had revenue of $46.50 billion for the quarter, compared to analyst estimates of $45.05 billion. On average, analysts predict that UnitedHealth Group Inc. will post $7.90 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 20th. Stockholders of record on Friday, September 9th were issued a $0.625 dividend. The ex-dividend date of this dividend was Tuesday, September 6th. This represents a $2.50 dividend on an annualized basis and a dividend yield of 1.83%. UnitedHealth Group’s payout ratio is 39.12%.
Several brokerages have issued reports on UNH. Credit Suisse Group AG reissued a “buy” rating and issued a $155.00 price objective (up previously from $148.00) on shares of UnitedHealth Group in a research note on Wednesday, July 20th. Vetr raised shares of UnitedHealth Group to a “buy” rating in a research note on Friday. Zacks Investment Research downgraded shares of UnitedHealth Group from a “hold” rating to a “sell” rating in a research note on Monday, July 18th. Jefferies Group reissued a “buy” rating and issued a $163.00 price objective on shares of UnitedHealth Group in a research note on Tuesday, October 4th. Finally, Leerink Swann reissued a “buy” rating on shares of UnitedHealth Group in a research note on Monday, June 27th. One investment analyst has rated the stock with a hold rating, twenty-five have assigned a buy rating and one has assigned a strong buy rating to the stock. UnitedHealth Group presently has an average rating of “Buy” and an average price target of $155.35.
In other news, Director Richard T. Burke sold 40,000 shares of the firm’s stock in a transaction on Wednesday, September 7th. The shares were sold at an average price of $135.31, for a total value of $5,412,400.00. Following the sale, the director now directly owns 2,003,550 shares in the company, valued at approximately $271,100,350.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 1.65% of the stock is currently owned by insiders.
UnitedHealth Group Company Profile
UnitedHealth Group Incorporated is a diversified healthcare company. The Company operates through four segments: UnitedHealthcare, OptumHealth, OptumInsight and OptumRx. The Company conducts its operations through two business platforms: health benefits operating under UnitedHealthcare and health services operating under Optum.
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