BTC Capital Management Inc. Boosts Stake in UnitedHealth Group Inc (NYSE:UNH)
BTC Capital Management Inc. lifted its holdings in UnitedHealth Group Inc (NYSE:UNH) by 8.2% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 19,258 shares of the healthcare conglomerate’s stock after buying an additional 1,459 shares during the quarter. BTC Capital Management Inc.’s holdings in UnitedHealth Group were worth $6,001,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. Exchange Traded Concepts LLC boosted its position in UnitedHealth Group by 140.0% during the second quarter. Exchange Traded Concepts LLC now owns 132 shares of the healthcare conglomerate’s stock worth $39,000 after purchasing an additional 77 shares in the last quarter. Old North State Trust LLC purchased a new stake in UnitedHealth Group during the third quarter worth $39,000. Your Advocates Ltd. LLP boosted its position in UnitedHealth Group by 33.3% during 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 in the last quarter. Modus Advisors LLC purchased a new stake in UnitedHealth Group during the second quarter worth $62,000. Finally, Engrave Wealth Partners LLC boosted its position 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 purchasing an additional 46 shares in the last quarter. Institutional investors own 86.39% of the company’s stock.
In other UnitedHealth Group news, EVP Marianne D. Short sold 12,000 shares of the company’s stock in a transaction dated Tuesday, August 11th. The stock was sold at an average price of $321.34, for a total transaction of $3,856,080.00. Following the completion of the sale, the executive vice president now directly owns 140,885 shares in the company, valued at $45,271,985.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Richard T. Burke sold 10,000 shares of the company’s stock in a transaction dated Wednesday, July 22nd. The stock was sold at an average price of $303.50, for a total value of $3,035,000.00. Following the sale, the director now owns 159,215 shares of the company’s stock, valued at $48,321,752.50. The disclosure for this sale can be found here. Insiders have sold 47,336 shares of company stock valued at $14,928,276 over the last 90 days. 0.80% of the stock is currently owned by insiders.
UnitedHealth Group (NYSE:UNH) last announced its quarterly earnings results on Monday, October 19th. The healthcare conglomerate reported $3.51 EPS for the quarter, topping the Thomson Reuters’ consensus estimate 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%. The firm’s revenue was up 7.9% on a year-over-year basis. During the same period in the prior year, the firm posted $3.88 earnings per share. As a group, equities analysts predict that UnitedHealth Group Inc will post 16.58 EPS for the current year.
The company also recently declared a quarterly dividend, which was paid on Tuesday, September 22nd. Shareholders of record on Monday, September 14th were paid a dividend of $1.25 per share. The ex-dividend date of this dividend was Friday, September 11th. This represents a $5.00 annualized dividend and a yield of 1.52%. UnitedHealth Group’s dividend payout ratio is presently 33.09%.
A number of analysts have commented on the company. Raymond James boosted their target price on UnitedHealth Group from $350.00 to $355.00 and gave the stock a “strong-buy” rating in a research report on Thursday. Jefferies Financial Group boosted their price target on UnitedHealth Group from $310.00 to $335.00 and gave the stock a “hold” rating in a report on Thursday. Citigroup boosted their price target on UnitedHealth Group from $339.00 to $357.00 and gave the stock a “buy” rating in a report on Thursday, July 16th. Bank of America boosted their price target on UnitedHealth Group from $351.00 to $365.00 and gave the stock a “buy” rating in a report on Friday, August 28th. Finally, Deutsche Bank Aktiengesellschaft boosted their price target on UnitedHealth Group from $293.00 to $312.00 and gave the stock a “buy” rating in a report on Thursday, July 16th. Four investment analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and one has issued a strong buy rating to the company. UnitedHealth Group has an average rating of “Buy” and an average price target 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.
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