Westover Capital Advisors LLC Takes $246,000 Position in UnitedHealth Group Incorporated (UNH)
Westover Capital Advisors LLC purchased a new stake in UnitedHealth Group Incorporated (NYSE:UNH) in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 1,325 shares of the healthcare conglomerate’s stock, valued at approximately $246,000.
A number of other hedge funds and other institutional investors have also modified their holdings of the business. Carret Asset Management LLC lifted its holdings in UnitedHealth Group by 1.2% in the 2nd quarter. Carret Asset Management LLC now owns 3,974 shares of the healthcare conglomerate’s stock valued at $737,000 after acquiring an additional 48 shares during the last quarter. Kingdon Capital Management L.L.C. purchased a new stake in UnitedHealth Group during the second quarter valued at about $13,841,000. Maverick Capital Ltd. purchased a new stake in UnitedHealth Group during the second quarter valued at about $4,048,000. Cornerstone Capital Management Holdings LLC. lifted its stake in UnitedHealth Group by 17.3% during the second quarter. Cornerstone Capital Management Holdings LLC. now owns 503,932 shares of the healthcare conglomerate’s stock valued at $93,438,000 after buying an additional 74,211 shares in the last quarter. Finally, Peapack Gladstone Financial Corp lifted its stake in UnitedHealth Group by 3.3% during the second quarter. Peapack Gladstone Financial Corp now owns 3,524 shares of the healthcare conglomerate’s stock valued at $653,000 after buying an additional 111 shares in the last quarter. 86.20% of the stock is owned by institutional investors.
In related news, insider Thomas E. Roos sold 975 shares of the stock in a transaction that occurred on Thursday, October 19th. The stock was sold at an average price of $205.47, for a total value of $200,333.25. Following the transaction, the insider now owns 24,630 shares in the company, valued at $5,060,726.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Gail R. Wilensky sold 5,600 shares of the stock in a transaction that occurred on Wednesday, November 29th. The stock was sold at an average price of $223.31, for a total value of $1,250,536.00. Following the completion of the transaction, the director now owns 61,137 shares in the company, valued at approximately $13,652,503.47. The disclosure for this sale can be found here. Insiders sold 62,606 shares of company stock worth $12,677,525 in the last 90 days. 0.89% of the stock is currently owned by corporate insiders.
UnitedHealth Group (NYSE:UNH) last issued its earnings results on Tuesday, October 17th. The healthcare conglomerate reported $2.66 earnings per share for the quarter, beating analysts’ consensus estimates of $2.57 by $0.09. UnitedHealth Group had a return on equity of 21.52% and a net margin of 4.50%. The company had revenue of $50.32 billion for the quarter, compared to the consensus estimate of $50.38 billion. During the same quarter in the prior year, the company earned $2.17 EPS. The firm’s quarterly revenue was up 8.7% on a year-over-year basis. equities analysts predict that UnitedHealth Group Incorporated will post 9.99 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 12th. Investors of record on Friday, December 1st will be issued a $0.75 dividend. The ex-dividend date of this dividend is Thursday, November 30th. This represents a $3.00 dividend on an annualized basis and a yield of 1.35%. UnitedHealth Group’s dividend payout ratio is currently 33.26%.
A number of analysts have commented on the stock. Wells Fargo & Company reaffirmed an “outperform” rating and set a $245.00 price objective (up from $230.00) on shares of UnitedHealth Group in a research note on Wednesday, November 29th. Leerink Swann reaffirmed an “outperform” rating on shares of UnitedHealth Group in a research note on Friday, December 1st. ValuEngine lowered shares of UnitedHealth Group from a “buy” rating to a “hold” rating in a research note on Thursday, December 7th. BMO Capital Markets assumed coverage on shares of UnitedHealth Group in a research note on Monday, October 16th. They set an “outperform” rating and a $250.00 price objective for the company. Finally, Jefferies Group reaffirmed a “buy” rating and set a $215.00 price objective on shares of UnitedHealth Group in a research note on Friday, August 18th. Three research analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $224.56.
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About UnitedHealth Group
UnitedHealth Group Incorporated is a health and well-being company. The Company operates through four segments: UnitedHealthcare, OptumHealth, OptumInsight and OptumRx. It conducts its operations through two business platforms: health benefits operating under UnitedHealthcare and health services operating under Optum.
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