Today, State Treasurer State of Michigan decides to keep it stake in United Continental Holdings Inc. (UAL) to the level of $5,373,000

Today, State Treasurer State of Michigan decides to keep it stake in United Continental Holdings Inc. (UAL) to the level of $5,373,000
State Treasurer State of Michigan cut its stake in United Continental Holdings Inc. (NYSE:UAL) by 12.2% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 102,400 shares of the company’s stock after selling 14,200 shares during the period. State Treasurer State of Michigan’s holdings in United Continental Holdings were worth $5,373,000 as of its most recent filing with the SEC.

Several other large investors have also recently added to or reduced their stakes in the company. Legal & General Group Plc raised its stake in United Continental Holdings by 3.4% in the first quarter. Legal & General Group Plc now owns 430,225 shares of the company’s stock valued at $25,757,000 after buying an additional 14,102 shares during the period. Envestnet Asset Management Inc. raised its stake in United Continental Holdings by 9.1% in the first quarter. Envestnet Asset Management Inc. now owns 33,027 shares of the company’s stock valued at $1,977,000 after buying an additional 2,764 shares during the period. Phocas Financial Corp. raised its stake in United Continental Holdings by 41.4% in the first quarter. Phocas Financial Corp. now owns 51,406 shares of the company’s stock valued at $3,077,000 after buying an additional 15,053 shares during the period. First Republic Investment Management Inc. raised its stake in United Continental Holdings by 57.8% in the first quarter. First Republic Investment Management Inc. now owns 20,401 shares of the company’s stock valued at $1,221,000 after buying an additional 7,471 shares during the period. Finally, BNP Paribas Arbitrage SA raised its stake in United Continental Holdings by 14.7% in the second quarter. BNP Paribas Arbitrage SA now owns 196,271 shares of the company’s stock valued at $8,055,000 after buying an additional 25,160 shares during the period. Hedge funds and other institutional investors own 94.26% of the company’s stock.

Shares of United Continental Holdings Inc. (NYSE:UAL) opened at 70.09 on Friday. United Continental Holdings Inc. has a one year low of $37.41 and a one year high of $70.18. The company has a 50-day moving average of $58.76 and a 200 day moving average of $49.84. The firm has a market cap of $22.24 billion, a PE ratio of 8.95 and a beta of 0.63.

United Continental Holdings (NYSE:UAL) last announced its earnings results on Monday, October 17th. The company reported $3.11 earnings per share for the quarter, beating the consensus estimate of $2.88 by $0.23. United Continental Holdings had a net margin of 7.36% and a return on equity of 39.10%. The firm earned $9.91 billion during the quarter, compared to the consensus estimate of $9.89 billion. During the same quarter in the previous year, the company posted $4.53 EPS. The firm’s revenue for the quarter was down 3.8% on a year-over-year basis. On average, equities research analysts expect that United Continental Holdings Inc. will post $7.98 EPS for the current fiscal year.

Several equities research analysts have recently issued reports on UAL shares. Cowen and Company restated an “outperform” rating on shares of United Continental Holdings in a report on Thursday, August 11th. Morgan Stanley reiterated a “buy” rating and set a $57.00 price objective on shares of United Continental Holdings in a report on Sunday, August 21st. Imperial Capital assumed coverage on shares of United Continental Holdings in a report on Tuesday, August 23rd. They set an “outperform” rating and a $57.00 price objective for the company. Vetr upgraded shares of United Continental Holdings from a “hold” rating to a “buy” rating and set a $49.50 price objective for the company in a report on Tuesday, August 23rd. Finally, Standpoint Research began coverage on shares of United Continental Holdings in a research report on Thursday, August 25th. They set a “buy” rating and a $70.00 target price on the stock. One analyst has rated the stock with a sell rating, eight have issued a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of $64.44.

In other United Continental Holdings news, CFO Andrew C. Levy purchased 15,000 shares of the stock in a transaction on Friday, September 2nd. The stock was bought at an average price of $50.96 per share, for a total transaction of $764,400.00. Following the acquisition, the chief financial officer now directly owns 20,791 shares of the company’s stock, valued at $1,059,509.36. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, VP Chris Kenny sold 3,824 shares of United Continental Holdings stock in a transaction dated Thursday, November 17th. The shares were sold at an average price of $67.39, for a total value of $257,699.36. Following the completion of the sale, the vice president now owns 10,179 shares of the company’s stock, valued at approximately $685,962.81. The disclosure for this sale can be found here. 0.39% of the stock is owned by company insiders.

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