Veritas Investment Management LLP lowered its position in shares of UnitedHealth Group Inc. (NYSE:UNH) by 2.1% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 437,345 shares of the healthcare conglomerate’s stock after selling 9,520 shares during the period. UnitedHealth Group comprises approximately 11.9% of Veritas Investment Management LLP’s investment portfolio, making the stock its largest position. Veritas Investment Management LLP’s holdings in UnitedHealth Group were worth $61,740,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also made changes to their positions in the company. MCF Advisors LLC increased its position in shares of UnitedHealth Group by 312.9% in the first quarter. MCF Advisors LLC now owns 958 shares of the healthcare conglomerate’s stock worth $123,000 after buying an additional 726 shares in the last quarter. Parkside Financial Bank & Trust increased its position in shares of UnitedHealth Group by 31.4% in the second quarter. Parkside Financial Bank & Trust now owns 996 shares of the healthcare conglomerate’s stock worth $140,000 after buying an additional 238 shares in the last quarter. Benjamin F. Edwards & Company Inc. increased its position in shares of UnitedHealth Group by 91.8% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 1,082 shares of the healthcare conglomerate’s stock worth $153,000 after buying an additional 518 shares in the last quarter. Feltz Wealth PLAN Inc. acquired a new position in shares of UnitedHealth Group during the second quarter worth about $143,000. Finally, Evanson Asset Management LLC acquired a new position in shares of UnitedHealth Group during the second quarter worth about $201,000. Institutional investors own 85.78% of the company’s stock.
Shares of UnitedHealth Group Inc. (NYSE:UNH) traded down 0.15% during midday trading on Friday, reaching $140.83. The company’s stock had a trading volume of 993,067 shares. The stock has a 50-day moving average of $138.85 and a 200 day moving average of $135.18. UnitedHealth Group Inc. has a 12-month low of $107.51 and a 12-month high of $144.48. The firm has a market capitalization of $134.13 billion, a P/E ratio of 22.04 and a beta of 0.57.
UnitedHealth Group (NYSE:UNH) last announced its earnings results on Tuesday, July 19th. The healthcare conglomerate reported $1.96 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.89 by $0.07. The company earned $46.50 billion during the quarter, compared to the consensus estimate of $45.05 billion. UnitedHealth Group had a net margin of 3.51% and a return on equity of 19.08%. Equities research analysts predict that UnitedHealth Group Inc. will post $7.92 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 20th. Stockholders of record on Friday, September 9th were paid a dividend of $0.625 per share. The ex-dividend date was Tuesday, September 6th. This represents a $2.50 annualized dividend and a dividend yield of 1.77%. UnitedHealth Group’s payout ratio is currently 39.12%.
A number of research analysts recently issued reports on the company. Credit Suisse Group AG restated a “buy” rating on shares of UnitedHealth Group in a report on Friday, June 10th. Leerink Swann reaffirmed an “outperform” rating and set a $165.00 price objective (up from $155.00) on shares of UnitedHealth Group in a research report on Wednesday, July 20th. FBR & Co reaffirmed an “outperform” rating and set a $155.00 price objective (up from $145.00) on shares of UnitedHealth Group in a research report on Wednesday, July 20th. Zacks Investment Research raised UnitedHealth Group from a “hold” rating to a “buy” rating and set a $160.00 price objective on the stock in a research report on Friday, July 22nd. Finally, Oppenheimer Holdings Inc. reaffirmed an “outperform” rating and set a $161.00 price objective (up from $145.00) on shares of UnitedHealth Group in a research report on Friday, July 22nd. One analyst has rated the stock with a hold rating, twenty-four have assigned a buy rating and one has given a strong buy rating to the company’s stock. UnitedHealth Group currently has an average rating of “Buy” and an average target price of $154.96.
In other news, Director Richard T. Burke sold 40,000 shares of UnitedHealth Group stock in a transaction on Wednesday, September 7th. The shares were sold at an average price of $135.31, for a total transaction of $5,412,400.00. Following the completion of the sale, the director now directly owns 2,003,550 shares in the company, valued at $271,100,350.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders own 1.65% of the company’s stock.
About UnitedHealth Group
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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