UnitedHealth Group Inc. (UNH) Position Lowered by Cobiz Investment Management LLC
Cobiz Investment Management LLC reduced its position in shares of UnitedHealth Group Inc. (NYSE:UNH) by 1.6% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 42,220 shares of the healthcare conglomerate’s stock after selling 687 shares during the period. UnitedHealth Group makes up about 1.4% of Cobiz Investment Management LLC’s holdings, making the stock its 21st largest position. Cobiz Investment Management LLC’s holdings in UnitedHealth Group were worth $5,911,000 as of its most recent filing with the SEC.
Other institutional investors have also made changes to their positions in the company. Emerald Acquisition Ltd. purchased a new stake in UnitedHealth Group during the second quarter valued at about $309,266,000. Bank of Montreal Can purchased a new stake in UnitedHealth Group during the second quarter valued at about $207,013,000. Boston Partners raised its stake in UnitedHealth Group by 47.6% in the second quarter. Boston Partners now owns 3,531,669 shares of the healthcare conglomerate’s stock valued at $498,672,000 after buying an additional 1,138,808 shares in the last quarter. Vanguard Group Inc. raised its stake in UnitedHealth Group by 2.0% in the second quarter. Vanguard Group Inc. now owns 57,213,923 shares of the healthcare conglomerate’s stock valued at $8,078,605,000 after buying an additional 1,123,084 shares in the last quarter. Finally, 1832 Asset Management L.P. purchased a new stake in UnitedHealth Group during the second quarter valued at about $213,354,000. 86.04% of the stock is currently owned by institutional investors.
Shares of UnitedHealth Group Inc. (NYSE:UNH) traded down 0.48% during midday trading on Friday, reaching $152.81. The company had a trading volume of 1,664,542 shares. UnitedHealth Group Inc. has a 52-week low of $107.51 and a 52-week high of $154.50. The company’s 50-day moving average is $143.37 and its 200-day moving average is $139.61. The firm has a market cap of $145.45 billion, a P/E ratio of 22.57 and a beta of 0.63.
UnitedHealth Group (NYSE:UNH) last released its earnings results on Tuesday, October 18th. The healthcare conglomerate reported $2.17 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $2.08 by $0.09. The company earned $46.30 billion during the quarter, compared to analysts’ expectations of $46.09 billion. UnitedHealth Group had a return on equity of 19.92% and a net margin of 3.62%. The business’s revenue for the quarter was up 11.6% on a year-over-year basis. During the same period last year, the firm earned $1.77 EPS. Equities research analysts expect that UnitedHealth Group Inc. will post $8.01 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 13th. Stockholders of record on Friday, December 2nd will be paid a $0.625 dividend. The ex-dividend date is Wednesday, November 30th. This represents a $2.50 annualized dividend and a dividend yield of 1.64%. UnitedHealth Group’s dividend payout ratio (DPR) is currently 36.93%.
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UNH has been the topic of several analyst reports. Leerink Swann reaffirmed an “outperform” rating on shares of UnitedHealth Group in a research report on Sunday, August 21st. Jefferies Group reaffirmed a “buy” rating on shares of UnitedHealth Group in a research report on Tuesday, August 23rd. Sanford C. Bernstein reaffirmed an “outperform” rating and issued a $178.00 target price on shares of UnitedHealth Group in a research report on Tuesday, September 6th. Cowen and Company set a $150.00 target price on UnitedHealth Group and gave the stock a “buy” rating in a research report on Tuesday, September 6th. Finally, Evercore ISI initiated coverage on UnitedHealth Group in a research report on Thursday, September 22nd. They issued a “buy” rating and a $155.00 target price on the stock. Two research analysts have rated the stock with a hold rating and twenty-two have issued a buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of $158.03.
In other news, Director Gail R. Wilensky sold 5,460 shares of UnitedHealth Group stock in a transaction on Thursday, November 17th. The stock was sold at an average price of $150.55, for a total value of $822,003.00. Following the completion of the sale, the director now directly owns 60,052 shares of the company’s stock, valued at approximately $9,040,828.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, 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 value of $5,412,400.00. Following the completion of the sale, the director now directly owns 2,003,550 shares of the company’s stock, valued at $271,100,350.50. The disclosure for this sale can be found here. 1.65% of the stock is owned by insiders.
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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