Institute for Wealth Management LLC. bought a new position in UnitedHealth Group Incorporated (NYSE:UNH) in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 2,529 shares of the healthcare conglomerate’s stock, valued at approximately $471,000.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in UNH. Blue Chip Partners Inc. bought a new stake in shares of UnitedHealth Group in the 2nd quarter valued at approximately $110,000. Kings Point Capital Management boosted its holdings in shares of UnitedHealth Group by 27.9% in the 1st quarter. Kings Point Capital Management now owns 687 shares of the healthcare conglomerate’s stock worth $113,000 after acquiring an additional 150 shares in the last quarter. Bruderman Asset Management LLC acquired a new position in shares of UnitedHealth Group in the 2nd quarter worth approximately $114,000. Mitsubishi UFJ Securities Holdings Co. Ltd. boosted its holdings in shares of UnitedHealth Group by 433.3% in the 2nd quarter. Mitsubishi UFJ Securities Holdings Co. Ltd. now owns 640 shares of the healthcare conglomerate’s stock worth $119,000 after acquiring an additional 520 shares in the last quarter. Finally, BDO Wealth Advisors LLC acquired a new position in shares of UnitedHealth Group in the 2nd quarter worth approximately $121,000. 86.20% of the stock is owned by hedge funds and other institutional investors.
Several research analysts have recently commented on the company. Raymond James Financial reissued a “buy” rating on shares of UnitedHealth Group in a report on Wednesday. Sanford C. Bernstein upped their price objective on UnitedHealth Group from $219.00 to $246.00 and gave the stock an “outperform” rating in a report on Friday, December 1st. Leerink Swann reaffirmed an “outperform” rating on shares of UnitedHealth Group in a report on Friday, December 1st. Jefferies Group reaffirmed a “buy” rating and set a $248.00 price objective on shares of UnitedHealth Group in a report on Friday, December 1st. Finally, Piper Jaffray Companies upped their target price on shares of UnitedHealth Group to $242.00 and gave the company an “overweight” rating in a research report on Wednesday, November 29th. Three analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average price target of $224.56.
Shares of UnitedHealth Group Incorporated (UNH) traded down $0.15 during trading hours on Thursday, reaching $219.94. 2,397,400 shares of the company were exchanged, compared to its average volume of 3,116,121. The company has a market capitalization of $213,282.06, a PE ratio of 22.93, a price-to-earnings-growth ratio of 1.63 and a beta of 0.66. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.70 and a quick ratio of 0.70. UnitedHealth Group Incorporated has a fifty-two week low of $156.09 and a fifty-two week high of $231.77.
UnitedHealth Group (NYSE:UNH) last announced its quarterly earnings data on Tuesday, October 17th. The healthcare conglomerate reported $2.66 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.57 by $0.09. The business had revenue of $50.32 billion for the quarter, compared to analysts’ expectations of $50.38 billion. UnitedHealth Group had a net margin of 4.50% and a return on equity of 21.52%. The firm’s quarterly revenue was up 8.7% compared to the same quarter last year. During the same period last year, the firm posted $2.17 earnings per share. sell-side analysts predict that UnitedHealth Group Incorporated will post 9.99 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 12th. Shareholders of record on Friday, December 1st will be given a $0.75 dividend. The ex-dividend date of this dividend is Thursday, November 30th. This represents a $3.00 dividend on an annualized basis and a yield of 1.36%. UnitedHealth Group’s dividend payout ratio is currently 33.26%.
In other news, insider Larry C. Renfro sold 50,574 shares of UnitedHealth Group stock in a transaction on Friday, September 15th. The shares were sold at an average price of $198.11, for a total transaction of $10,019,215.14. Following the transaction, the insider now owns 195,625 shares in the company, valued at $38,755,268.75. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Thomas E. Roos sold 975 shares of UnitedHealth Group stock in a transaction on Thursday, October 19th. The stock was sold at an average price of $205.47, for a total transaction of $200,333.25. Following the transaction, the insider now owns 24,630 shares in the company, valued at approximately $5,060,726.10. The disclosure for this sale can be found here. Insiders sold 62,606 shares of company stock worth $12,677,525 in the last 90 days. Company insiders own 0.89% of the company’s stock.
TRADEMARK VIOLATION NOTICE: This piece was originally reported by The Lincolnian Online and is the sole property of of The Lincolnian Online. If you are accessing this piece on another website, it was copied illegally and reposted in violation of US and international copyright and trademark legislation. The legal version of this piece can be accessed at https://www.thelincolnianonline.com/2017/12/07/institute-for-wealth-management-llc-takes-471000-position-in-unitedhealth-group-incorporated-unh.html.
About UnitedHealth Group
UnitedHealth Group Incorporated is a health and well-being company. The Company operates through four segments: UnitedHealthcare, OptumHealth, OptumInsight and OptumRx. It conducts its operations through two business platforms: health benefits operating under UnitedHealthcare and health services operating under Optum.
Want to see what other hedge funds are holding UNH? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for UnitedHealth Group Incorporated (NYSE:UNH).
Receive News & Ratings for UnitedHealth Group Incorporated Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for UnitedHealth Group Incorporated and related companies with MarketBeat.com's FREE daily email newsletter.