Penobscot Investment Management Company Inc. raised its position in UnitedHealth Group Inc. (NYSE:UNH) by 15.3% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 10,833 shares of the healthcare conglomerate’s stock after buying an additional 1,440 shares during the period. Penobscot Investment Management Company Inc.’s holdings in UnitedHealth Group were worth $1,517,000 at the end of the most recent reporting period.
Several other hedge funds have also made changes to their positions in the company. Emerald Acquisition Ltd. acquired a new stake in shares of UnitedHealth Group during the second quarter worth about $309,266,000. Bank of Montreal Can acquired a new stake in shares of UnitedHealth Group during the second quarter worth about $207,013,000. Boston Partners raised its stake in shares of UnitedHealth Group by 47.6% in the second quarter. Boston Partners now owns 3,531,669 shares of the healthcare conglomerate’s stock worth $498,672,000 after buying an additional 1,138,808 shares during the last quarter. Vanguard Group Inc. raised its stake in shares of UnitedHealth Group by 2.0% in the second quarter. Vanguard Group Inc. now owns 57,213,923 shares of the healthcare conglomerate’s stock worth $8,078,605,000 after buying an additional 1,123,084 shares during the last quarter. Finally, Standard Life Investments LTD raised its stake in shares of UnitedHealth Group by 103.9% in the third quarter. Standard Life Investments LTD now owns 1,960,547 shares of the healthcare conglomerate’s stock worth $274,486,000 after buying an additional 998,999 shares during the last quarter. 84.92% of the stock is currently owned by institutional investors and hedge funds.
UnitedHealth Group Inc. (NYSE:UNH) traded down 0.46% on Monday, hitting $152.11. The company’s stock had a trading volume of 5,029,589 shares. The company has a 50 day moving average price of $143.81 and a 200-day moving average price of $139.88. UnitedHealth Group Inc. has a 1-year low of $107.51 and a 1-year high of $154.50. The company has a market capitalization of $144.61 billion, a P/E ratio of 25.31 and a beta of 0.63.
UnitedHealth Group (NYSE:UNH) last posted its quarterly earnings results on Tuesday, October 18th. The healthcare conglomerate reported $2.17 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $2.08 by $0.09. UnitedHealth Group had a net margin of 3.62% and a return on equity of 19.92%. The firm earned $46.30 billion during the quarter, compared to analyst estimates of $46.09 billion. During the same quarter in the prior year, the business posted $1.77 earnings per share. The company’s quarterly revenue was up 11.6% compared to the same quarter last year. On average, equities analysts forecast that UnitedHealth Group Inc. will post $8.01 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 13th. Investors of record on Friday, December 2nd will be given a $0.625 dividend. This represents a $2.50 annualized dividend and a yield of 1.64%. The ex-dividend date is Wednesday, November 30th. UnitedHealth Group’s dividend payout ratio (DPR) is presently 36.93%.
UNH has been the topic of a number of analyst reports. Mizuho lowered UnitedHealth Group from a “buy” rating to a “neutral” rating in a research report on Wednesday, November 9th. Leerink Swann reissued an “outperform” rating on shares of UnitedHealth Group in a report on Sunday, August 21st. Sanford C. Bernstein reissued an “outperform” rating and issued a $178.00 price objective on shares of UnitedHealth Group in a report on Tuesday, September 6th. Vetr raised UnitedHealth Group from a “buy” rating to a “buy” rating in a report on Friday, October 7th. Finally, Jefferies Group reissued a “buy” rating and issued a $163.00 price objective on shares of UnitedHealth Group in a report on Tuesday, October 4th. Two equities research analysts have rated the stock with a hold rating and twenty-two have given a buy rating to the company. UnitedHealth Group currently has a consensus rating of “Buy” and a consensus price target of $158.03.
In other UnitedHealth Group news, Director Richard T. Burke sold 40,000 shares of the company’s stock in a transaction dated Wednesday, September 7th. The shares were sold at an average price of $135.31, for a total transaction of $5,412,400.00. Following the sale, the director now directly owns 2,003,550 shares of the company’s stock, valued at $271,100,350.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Gail R. Wilensky sold 5,460 shares of the company’s stock in a transaction dated Thursday, November 17th. The stock was sold at an average price of $150.55, for a total transaction of $822,003.00. Following the sale, the director now directly owns 60,052 shares in the company, valued at $9,040,828.60. The disclosure for this sale can be found here. 1.65% of the stock is currently owned by corporate insiders.
UnitedHealth Group Company Profile
UnitedHealth Group Incorporated is a diversified healthcare company. The Company operates through four segments: UnitedHealthcare, OptumHealth, OptumInsight and OptumRx. The Company conducts its operations through two business platforms: health benefits operating under UnitedHealthcare and health services operating under Optum.