Groesbeck Investment Management Corp NJ lifted its stake in shares of UnitedHealth Group Inc (NYSE:UNH) by 3.6% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 17,197 shares of the healthcare conglomerate’s stock after acquiring an additional 595 shares during the period. UnitedHealth Group accounts for approximately 2.7% of Groesbeck Investment Management Corp NJ’s portfolio, making the stock its 9th biggest holding. Groesbeck Investment Management Corp NJ’s holdings in UnitedHealth Group were worth $3,737,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds also recently bought and sold shares of UNH. Selective Wealth Management Inc. purchased a new position in UnitedHealth Group during the third quarter worth about $27,000. North Star Investment Management Corp. purchased a new position in UnitedHealth Group during the third quarter worth about $30,000. Delta Asset Management LLC TN lifted its position in UnitedHealth Group by 111.0% during the third quarter. Delta Asset Management LLC TN now owns 154 shares of the healthcare conglomerate’s stock worth $33,000 after buying an additional 81 shares during the period. Fusion Family Wealth LLC lifted its position in UnitedHealth Group by 329.7% during the third quarter. Fusion Family Wealth LLC now owns 159 shares of the healthcare conglomerate’s stock worth $35,000 after buying an additional 122 shares during the period. Finally, Massey Quick Simon & CO. LLC lifted its position in UnitedHealth Group by 212.5% during the third quarter. Massey Quick Simon & CO. LLC now owns 175 shares of the healthcare conglomerate’s stock worth $38,000 after buying an additional 119 shares during the period. 85.66% of the stock is currently owned by institutional investors and hedge funds.
Shares of UnitedHealth Group stock traded down $2.88 during trading hours on Monday, reaching $254.09. The stock had a trading volume of 1,753,781 shares, compared to its average volume of 4,532,096. The firm has a 50 day simple moving average of $234.76 and a two-hundred day simple moving average of $241.05. The firm has a market capitalization of $237.20 billion, a price-to-earnings ratio of 19.73, a P/E/G ratio of 1.33 and a beta of 0.61. The company has a current ratio of 0.70, a quick ratio of 0.67 and a debt-to-equity ratio of 0.67. UnitedHealth Group Inc has a 1 year low of $208.07 and a 1 year high of $287.94.
UnitedHealth Group (NYSE:UNH) last released its quarterly earnings data on Tuesday, October 15th. The healthcare conglomerate reported $3.88 EPS for the quarter, topping analysts’ consensus estimates of $3.75 by $0.13. The company had revenue of $60.35 billion for the quarter, compared to the consensus estimate of $59.84 billion. UnitedHealth Group had a return on equity of 25.30% and a net margin of 5.57%. The company’s quarterly revenue was up 6.7% compared to the same quarter last year. During the same period last year, the business posted $3.41 EPS. Sell-side analysts forecast that UnitedHealth Group Inc will post 14.96 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 17th. Stockholders of record on Monday, December 9th will be issued a $1.08 dividend. This represents a $4.32 dividend on an annualized basis and a dividend yield of 1.70%. UnitedHealth Group’s dividend payout ratio (DPR) is 33.54%.
In other news, CAO Thomas E. Roos sold 1,177 shares of the stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $255.04, for a total value of $300,182.08. Following the completion of the sale, the chief accounting officer now owns 21,687 shares in the company, valued at $5,531,052.48. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Timothy Patrick Flynn bought 2,000 shares of the stock in a transaction dated Wednesday, August 28th. The stock was bought at an average price of $227.55 per share, with a total value of $455,100.00. Following the purchase, the director now owns 5,524 shares of the company’s stock, valued at approximately $1,256,986.20. The disclosure for this purchase can be found here. Over the last 90 days, insiders sold 33,177 shares of company stock worth $7,842,582. Company insiders own 0.87% of the company’s stock.
Several equities analysts recently weighed in on UNH shares. Raymond James increased their target price on UnitedHealth Group from $265.00 to $300.00 and gave the stock a “buy” rating in a research report on Friday, July 19th. UBS Group reduced their target price on UnitedHealth Group from $281.00 to $257.00 and set a “neutral” rating on the stock in a research report on Thursday, October 17th. Zacks Investment Research upgraded UnitedHealth Group from a “sell” rating to a “buy” rating and set a $269.00 target price on the stock in a research report on Monday, July 22nd. Oppenheimer set a $312.00 target price on UnitedHealth Group and gave the stock a “buy” rating in a research report on Friday, July 19th. Finally, Mizuho started coverage on UnitedHealth Group in a research report on Thursday, October 17th. They set a “buy” rating and a $270.00 target price on the stock. Five analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. UnitedHealth Group currently has an average rating of “Buy” and an average target price of $283.84.
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 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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