Renaissance Investment Group LLC acquired a new stake in UnitedHealth Group Inc (NYSE:UNH) during the second quarter, according to its most recent filing with the SEC. The firm acquired 7,900 shares of the healthcare conglomerate’s stock, valued at approximately $1,928,000.
Other institutional investors and hedge funds have also recently made changes to their positions in the company. Canton Hathaway LLC acquired a new position in shares of UnitedHealth Group in the 1st quarter valued at $36,000. Truvestments Capital LLC acquired a new position in shares of UnitedHealth Group in the 1st quarter valued at $42,000. Creative Financial Designs Inc. ADV lifted its stake in shares of UnitedHealth Group by 89.6% in the 1st quarter. Creative Financial Designs Inc. ADV now owns 201 shares of the healthcare conglomerate’s stock valued at $50,000 after purchasing an additional 95 shares during the period. Financial Gravity Wealth Inc. acquired a new position in shares of UnitedHealth Group in the 1st quarter valued at $58,000. Finally, Horan Capital Advisors LLC. acquired a new position in shares of UnitedHealth Group in the 1st quarter valued at $68,000. Hedge funds and other institutional investors own 85.65% of the company’s stock.
In related news, Director William C. Ballard, Jr. sold 12,000 shares of UnitedHealth Group stock in a transaction dated Tuesday, July 23rd. The stock was sold at an average price of $255.31, for a total transaction of $3,063,720.00. Following the completion of the transaction, the director now owns 61,309 shares in the company, valued at $15,652,800.79. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Richard T. Burke sold 10,000 shares of UnitedHealth Group stock in a transaction dated Tuesday, June 11th. The stock was sold at an average price of $248.00, for a total value of $2,480,000.00. Following the transaction, the director now owns 187,663 shares of the company’s stock, valued at approximately $46,540,424. The disclosure for this sale can be found here. Insiders have sold 37,000 shares of company stock valued at $9,158,720 in the last quarter. 0.87% of the stock is currently owned by corporate insiders.
Shares of NYSE UNH traded up $4.85 during mid-day trading on Friday, hitting $253.55. The company had a trading volume of 1,687,344 shares, compared to its average volume of 3,922,700. The company has a market cap of $238.66 billion, a P/E ratio of 19.69, a PEG ratio of 1.34 and a beta of 0.61. The company has a 50-day moving average price of $250.55. The company has a quick ratio of 0.73, a current ratio of 0.67 and a debt-to-equity ratio of 0.62. UnitedHealth Group Inc has a one year low of $208.07 and a one year high of $287.94.
UnitedHealth Group (NYSE:UNH) last announced its quarterly earnings data on Thursday, July 18th. The healthcare conglomerate reported $3.60 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $3.46 by $0.14. UnitedHealth Group had a return on equity of 25.20% and a net margin of 5.51%. The company had revenue of $60.60 billion during the quarter, compared to analysts’ expectations of $60.59 billion. During the same quarter last year, the company earned $3.14 EPS. UnitedHealth Group’s revenue for the quarter was up 8.0% compared to the same quarter last year. On average, sell-side analysts forecast that UnitedHealth Group Inc will post 14.82 earnings per share for the current year.
Several analysts recently commented on UNH shares. Morgan Stanley set a $207.00 price objective on Alibaba Group and gave the stock a “buy” rating in a research note on Friday, July 12th. Zacks Investment Research upgraded Falcon Minerals from a “sell” rating to a “hold” rating in a report on Monday. SunTrust Banks lowered their target price on UnitedHealth Group to $300.00 and set a “buy” rating for the company in a report on Wednesday, April 17th. They noted that the move was a valuation call. Citigroup reiterated a “buy” rating on shares of Healthequity in a report on Friday, May 10th. Finally, ValuEngine cut Acceleron Pharma from a “strong-buy” rating to a “buy” rating in a report on Thursday, April 18th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and eighteen have issued a buy rating to the company. UnitedHealth Group currently has a consensus rating of “Buy” and an average target price of $295.06.
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 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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