Ballast Inc. Grows Position in UnitedHealth Group Inc (NYSE:UNH)
Ballast Inc. boosted its stake in shares of UnitedHealth Group Inc (NYSE:UNH) by 2.3% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 13,593 shares of the healthcare conglomerate’s stock after purchasing an additional 307 shares during the period. UnitedHealth Group comprises about 2.4% of Ballast Inc.’s investment portfolio, making the stock its 14th biggest position. Ballast Inc.’s holdings in UnitedHealth Group were worth $4,237,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Exchange Traded Concepts LLC lifted its position in shares of UnitedHealth Group by 140.0% in the second quarter. Exchange Traded Concepts LLC now owns 132 shares of the healthcare conglomerate’s stock valued at $39,000 after acquiring an additional 77 shares in the last quarter. Old North State Trust LLC bought a new stake in shares of UnitedHealth Group in the third quarter worth about $39,000. Your Advocates Ltd. LLP increased its holdings in shares of UnitedHealth Group by 33.3% in the second quarter. Your Advocates Ltd. LLP now owns 400 shares of the healthcare conglomerate’s stock worth $44,000 after purchasing an additional 100 shares during the last quarter. Modus Advisors LLC bought a new stake in UnitedHealth Group during the second quarter worth approximately $62,000. Finally, Engrave Wealth Partners LLC increased its stake in UnitedHealth Group by 20.9% during the second quarter. Engrave Wealth Partners LLC now owns 266 shares of the healthcare conglomerate’s stock worth $78,000 after acquiring an additional 46 shares during the last quarter. Institutional investors own 86.39% of the company’s stock.
In other news, Director Richard T. Burke sold 10,000 shares of the stock in a transaction on Wednesday, July 22nd. The stock was sold at an average price of $303.50, for a total transaction of $3,035,000.00. Following the completion of the sale, the director now owns 159,215 shares in the company, valued at approximately $48,321,752.50. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Marianne D. Short sold 12,000 shares of the stock in a transaction on Tuesday, August 11th. The shares were sold at an average price of $321.34, for a total value of $3,856,080.00. Following the sale, the executive vice president now owns 140,885 shares of the company’s stock, valued at approximately $45,271,985.90. The disclosure for this sale can be found here. In the last quarter, insiders have sold 47,336 shares of company stock valued at $14,928,276. Company insiders own 0.80% of the company’s stock.
UnitedHealth Group (NYSE:UNH) last posted its earnings results on Monday, October 19th. The healthcare conglomerate reported $3.51 earnings per share for the quarter, topping analysts’ consensus estimates of $2.98 by $0.53. The company had revenue of $65.12 billion during the quarter, compared to analyst estimates of $63.97 billion. UnitedHealth Group had a return on equity of 29.28% and a net margin of 6.90%. UnitedHealth Group’s revenue was up 7.9% on a year-over-year basis. During the same quarter in the prior year, the business earned $3.88 earnings per share. Equities analysts expect that UnitedHealth Group Inc will post 16.58 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 22nd. Stockholders of record on Monday, September 14th were issued a dividend of $1.25 per share. The ex-dividend date was Friday, September 11th. This represents a $5.00 annualized dividend and a dividend yield of 1.52%. UnitedHealth Group’s dividend payout ratio is presently 33.09%.
A number of research firms have recently commented on UNH. Morgan Stanley reaffirmed a “buy” rating and set a $371.00 target price on shares of UnitedHealth Group in a research note on Thursday, July 16th. Credit Suisse Group set a $335.00 target price on UnitedHealth Group and gave the company a “buy” rating in a research note on Wednesday. Mizuho reaffirmed a “buy” rating and set a $315.00 target price on shares of UnitedHealth Group in a research note on Wednesday, July 15th. Citigroup upped their target price on UnitedHealth Group from $339.00 to $357.00 and gave the company a “buy” rating in a research note on Thursday, July 16th. Finally, Oppenheimer upped their target price on UnitedHealth Group from $353.00 to $375.00 and gave the company an “outperform” rating in a research note on Thursday. Four analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and one has assigned a strong buy rating to the stock. UnitedHealth Group has a consensus rating of “Buy” and an average target price of $346.68.
About UnitedHealth Group
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 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.
Featured Article: Why is momentum important to successful trading?
Want to see what other hedge funds are holding UNH? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for UnitedHealth Group Inc (NYSE:UNH).
Receive News & Ratings for UnitedHealth Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for UnitedHealth Group and related companies with MarketBeat.com's FREE daily email newsletter.