Cedar Capital LLC Has $2.33 Million Holdings in UnitedHealth Group Inc (UNH)
Cedar Capital LLC grew its position in shares of UnitedHealth Group Inc (NYSE:UNH) by 33.9% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 9,514 shares of the healthcare conglomerate’s stock after purchasing an additional 2,407 shares during the quarter. UnitedHealth Group comprises approximately 1.0% of Cedar Capital LLC’s investment portfolio, making the stock its 17th largest position. Cedar Capital LLC’s holdings in UnitedHealth Group were worth $2,334,000 at the end of the most recent reporting period.
Several other large investors also recently added to or reduced their stakes in the company. Welch Group LLC bought a new stake in UnitedHealth Group during the 2nd quarter valued at $106,000. Blue Chip Partners Inc. bought a new stake in UnitedHealth Group during the 2nd quarter valued at $107,000. Bamco Inc. NY bought a new stake in UnitedHealth Group during the 1st quarter valued at $117,000. Northwest Wealth Management LLC bought a new stake in UnitedHealth Group during the 2nd quarter valued at $117,000. Finally, Bruderman Asset Management LLC bought a new stake in UnitedHealth Group during the 1st quarter valued at $134,000. Institutional investors own 85.38% of the company’s stock.
UNH opened at $268.51 on Wednesday. The company has a current ratio of 0.75, a quick ratio of 0.75 and a debt-to-equity ratio of 0.63. The firm has a market cap of $254.36 billion, a price-to-earnings ratio of 26.66, a PEG ratio of 1.57 and a beta of 0.71. UnitedHealth Group Inc has a 1 year low of $186.00 and a 1 year high of $269.14.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 18th. Shareholders of record on Friday, September 7th will be issued a dividend of $0.90 per share. This represents a $3.60 dividend on an annualized basis and a yield of 1.34%. The ex-dividend date is Thursday, September 6th. UnitedHealth Group’s dividend payout ratio is 35.75%.
UnitedHealth Group declared that its board has initiated a share buyback program on Wednesday, June 6th that permits the company to buyback 100,000,000 outstanding shares. This buyback authorization permits the healthcare conglomerate to repurchase shares of its stock through open market purchases. Shares buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.
A number of analysts have commented on UNH shares. Cantor Fitzgerald restated a “buy” rating and set a $300.00 price target on shares of UnitedHealth Group in a research note on Thursday, July 5th. Zacks Investment Research lowered shares of UnitedHealth Group from a “buy” rating to a “hold” rating in a research note on Thursday, May 31st. Goldman Sachs Group restated a “buy” rating and set a $277.00 price target on shares of UnitedHealth Group in a research note on Tuesday, July 17th. Royal Bank of Canada boosted their price target on shares of UnitedHealth Group from $282.00 to $284.00 and gave the company a “$255.42” rating in a research note on Wednesday, July 18th. Finally, SunTrust Banks started coverage on shares of UnitedHealth Group in a research note on Monday, June 11th. They set a “buy” rating and a $300.00 price target for the company. Twenty-one equities research analysts have rated the stock with a buy rating, The company has a consensus rating of “Buy” and a consensus target price of $271.14.
In other UnitedHealth Group news, insider Larry C. Renfro sold 19,652 shares of UnitedHealth Group stock in a transaction on Friday, June 15th. The shares were sold at an average price of $254.55, for a total transaction of $5,002,416.60. Following the transaction, the insider now directly owns 153,679 shares of the company’s stock, valued at approximately $39,118,989.45. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP D Ellen Wilson sold 15,393 shares of UnitedHealth Group stock in a transaction on Friday, August 24th. The stock was sold at an average price of $264.29, for a total transaction of $4,068,215.97. Following the transaction, the executive vice president now directly owns 66,402 shares in the company, valued at $17,549,384.58. The disclosure for this sale can be found here. Insiders have sold a total of 60,222 shares of company stock worth $15,526,045 over the last ninety days. Insiders own 0.87% of the company’s stock.
UnitedHealth Group Profile
UnitedHealth Group Incorporated operates as a diversified health care company in the United States. It operates through four segments: UnitedHealthcare, OptumHealth, OptumInsight, and OptumRx. The UnitedHealthcare segment offers consumer-oriented health benefit plans and services for national employers, public sector employers, mid-sized employers, small businesses, and individuals; health care coverage, and health and well-being services to individuals age 50 and older, addressing their needs for preventive and acute health care services, as well as services dealing with chronic disease and other specialized issues for older individuals; and Medicaid plans, Children's Health Insurance Program, and health care programs; and health and dental benefits.
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