Polaris Capital Management LLC Has $46.80 Million Position in UnitedHealth Group Inc (UNH)
Polaris Capital Management LLC reduced its stake in UnitedHealth Group Inc (NYSE:UNH) by 34.8% during the second quarter, Holdings Channel reports. The institutional investor owned 190,755 shares of the healthcare conglomerate’s stock after selling 102,000 shares during the period. UnitedHealth Group comprises 2.2% of Polaris Capital Management LLC’s investment portfolio, making the stock its 10th biggest holding. Polaris Capital Management LLC’s holdings in UnitedHealth Group were worth $46,800,000 as of its most recent SEC filing.
Several other large investors also recently modified their holdings of the stock. Elkfork Partners LLC acquired a new stake in shares of UnitedHealth Group in the 4th quarter worth approximately $31,953,000. Argent Trust Co grew its holdings in shares of UnitedHealth Group by 8.3% in the 4th quarter. Argent Trust Co now owns 13,911 shares of the healthcare conglomerate’s stock worth $3,066,000 after acquiring an additional 1,061 shares during the period. Westover Capital Advisors LLC grew its holdings in shares of UnitedHealth Group by 131.3% in the 4th quarter. Westover Capital Advisors LLC now owns 6,520 shares of the healthcare conglomerate’s stock worth $1,437,000 after acquiring an additional 3,701 shares during the period. First Commonwealth Financial Corp PA acquired a new stake in shares of UnitedHealth Group in the 4th quarter worth approximately $229,000. Finally, WealthPLAN Partners LLC grew its holdings in shares of UnitedHealth Group by 105.7% in the 4th quarter. WealthPLAN Partners LLC now owns 2,695 shares of the healthcare conglomerate’s stock worth $594,000 after acquiring an additional 1,385 shares during the period. 85.38% of the stock is currently owned by institutional investors.
Shares of UnitedHealth Group stock opened at $268.39 on Friday. UnitedHealth Group Inc has a fifty-two week low of $186.00 and a fifty-two week high of $270.17. The firm has a market cap of $258.43 billion, a price-to-earnings ratio of 23.49, a price-to-earnings-growth ratio of 1.60 and a beta of 0.71. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.75 and a current ratio of 0.75.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 18th. Shareholders of record on Friday, September 7th will be paid a dividend of $0.90 per share. This represents a $3.60 dividend on an annualized basis and a dividend yield of 1.34%. The ex-dividend date is Thursday, September 6th. UnitedHealth Group’s dividend payout ratio is presently 35.75%.
UnitedHealth Group declared that its Board of Directors has authorized a stock repurchase program on Wednesday, June 6th that permits the company to repurchase 100,000,000 outstanding shares. This repurchase authorization permits the healthcare conglomerate to purchase shares of its stock through open market purchases. Shares repurchase programs are often a sign that the company’s management believes its stock is undervalued.
A number of equities research analysts recently weighed in on the company. Zacks Investment Research cut UnitedHealth Group from a “buy” rating to a “hold” rating in a report on Tuesday, June 19th. Cantor Fitzgerald reaffirmed a “buy” rating and issued a $300.00 target price on shares of UnitedHealth Group in a research note on Thursday, July 5th. BMO Capital Markets upped their target price on UnitedHealth Group from $285.00 to $300.00 and gave the company a “positive” rating in a research note on Thursday, June 21st. SunTrust Banks started coverage on UnitedHealth Group in a research note on Monday, June 11th. They issued a “buy” rating and a $300.00 target price on the stock. Finally, Citigroup upped their target price on UnitedHealth Group from $275.00 to $288.00 and gave the company a “$255.42” rating in a research note on Wednesday, July 18th. Twenty-one equities research analysts have rated the stock with a buy rating, The stock currently has a consensus rating of “Buy” and an average target price of $271.14.
In related news, insider Larry C. Renfro sold 19,652 shares of the stock in a transaction on Friday, June 15th. The stock was sold at an average price of $254.55, for a total value 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP D Ellen Wilson sold 15,393 shares of the stock in a transaction on Friday, August 24th. The stock was sold at an average price of $264.29, for a total value of $4,068,215.97. Following the completion of 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. In the last three months, insiders have sold 60,222 shares of company stock worth $15,526,045. Corporate insiders own 0.87% of the company’s stock.
UnitedHealth Group Company 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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