UnitedHealth Group Inc. (UNH) Stake Reduced by Huntington National Bank
Huntington National Bank reduced its position in UnitedHealth Group Inc. (NYSE:UNH) by 11.4% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 152,414 shares of the healthcare conglomerate’s stock after selling 19,693 shares during the period. Huntington National Bank’s holdings in UnitedHealth Group were worth $21,520,000 as of its most recent filing with the SEC.
Other institutional investors have also recently modified their holdings of the company. Omega Advisors Inc. purchased a new position in shares of UnitedHealth Group during the first quarter worth approximately $64,386,000. Edgar Lomax Co. VA raised its position 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 worth $64,855,000 after buying an additional 3,438 shares in the last quarter. Gateway Investment Advisers LLC raised its position 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 worth $115,192,000 after buying an additional 66,274 shares in the last quarter. Origin Asset Management LLP purchased a new position in shares of UnitedHealth Group during the first quarter worth approximately $34,616,000. Finally, Panagora Asset Management Inc. raised its position 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 worth $122,163,000 after buying an additional 44,707 shares in the last quarter. Hedge funds and other institutional investors own 85.78% of the company’s stock.
UnitedHealth Group Inc. (NYSE:UNH) traded down 2.40% during mid-day trading on Tuesday, reaching $134.76. 2,821,356 shares of the company traded hands. The firm has a market cap of $128.34 billion, a PE ratio of 21.09 and a beta of 0.57. The stock’s 50-day moving average price is $137.69 and its 200-day moving average price is $136.52. UnitedHealth Group Inc. has a one year low of $107.51 and a one year high of $144.48.
UnitedHealth Group (NYSE:UNH) last released its quarterly earnings data on Tuesday, July 19th. The healthcare conglomerate reported $1.96 EPS for the quarter, topping analysts’ consensus estimates 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%. Analysts forecast that UnitedHealth Group Inc. will post $7.90 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 20th. Stockholders of record on Friday, September 9th were issued a dividend of $0.625 per share. This represents a $2.50 dividend on an annualized basis and a dividend yield of 1.81%. The ex-dividend date of this dividend was Tuesday, September 6th. UnitedHealth Group’s payout ratio is 39.12%.
A number of equities analysts have commented on UNH shares. Evercore ISI began coverage on shares of UnitedHealth Group in a report on Thursday, September 22nd. They issued a “buy” rating and a $155.00 price objective on the stock. Cowen and Company set a $150.00 target price on shares of UnitedHealth Group and gave the company a “buy” rating in a research note on Tuesday, September 6th. Vetr upgraded shares of UnitedHealth Group from a “buy” rating to a “buy” rating in a research note on Friday. Oppenheimer Holdings Inc. restated an “outperform” rating and issued a $161.00 target price (up previously from $145.00) on shares of UnitedHealth Group in a research note on Friday, July 22nd. Finally, Jefferies Group restated a “buy” rating and issued a $163.00 target price on shares of UnitedHealth Group in a research note on Tuesday, October 4th. One equities research analyst has rated the stock with a hold rating, twenty-five have given a buy rating and one has assigned a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and an average target price of $155.35.
In other news, Director Richard T. Burke sold 40,000 shares of the firm’s stock in a transaction dated 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 transaction, the director now directly owns 2,003,550 shares of the company’s stock, valued at approximately $271,100,350.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 1.65% of the company’s stock.
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.
Receive News & Stock Ratings for UnitedHealth Group Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for UnitedHealth Group Inc. and related stocks with our FREE daily email newsletter.