Texas Permanent School Fund Corp boosted its position in UnitedHealth Group Incorporated (NYSE:UNH – Free Report) by 0.2% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 195,229 shares of the healthcare conglomerate’s stock after buying an additional 433 shares during the period. UnitedHealth Group makes up about 0.9% of Texas Permanent School Fund Corp’s holdings, making the stock its 11th biggest position. Texas Permanent School Fund Corp’s holdings in UnitedHealth Group were worth $93,835,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of UNH. Axiom Financial Strategies LLC purchased a new stake in shares of UnitedHealth Group during the 1st quarter worth $210,000. McGowan Group Asset Management Inc. boosted its position in shares of UnitedHealth Group by 8.9% during the 1st quarter. McGowan Group Asset Management Inc. now owns 744 shares of the healthcare conglomerate’s stock worth $379,000 after purchasing an additional 61 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its position in shares of UnitedHealth Group by 31.8% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 250,196 shares of the healthcare conglomerate’s stock worth $127,592,000 after purchasing an additional 60,300 shares in the last quarter. MAS Advisors LLC raised its stake in shares of UnitedHealth Group by 10.8% during the 1st quarter. MAS Advisors LLC now owns 463 shares of the healthcare conglomerate’s stock worth $241,000 after buying an additional 45 shares during the last quarter. Finally, First Western Trust Bank acquired a new position in shares of UnitedHealth Group during the 1st quarter worth $875,000. 85.69% of the stock is currently owned by hedge funds and other institutional investors.
UnitedHealth Group Trading Down 1.0 %
Shares of NYSE:UNH traded down $5.23 during trading on Friday, reaching $530.90. 2,739,692 shares of the stock were exchanged, compared to its average volume of 2,755,560. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.80 and a current ratio of 0.80. UnitedHealth Group Incorporated has a 12-month low of $445.68 and a 12-month high of $554.80. The firm has a market cap of $491.77 billion, a price-to-earnings ratio of 23.04, a price-to-earnings-growth ratio of 1.63 and a beta of 0.63. The firm’s 50-day moving average price is $508.33 and its 200 day moving average price is $495.05.
UnitedHealth Group (NYSE:UNH – Get Free Report) last issued its earnings results on Friday, October 13th. The healthcare conglomerate reported $6.56 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $6.33 by $0.23. UnitedHealth Group had a return on equity of 26.58% and a net margin of 6.02%. The business had revenue of $92.36 billion during the quarter, compared to analysts’ expectations of $91.41 billion. During the same quarter in the previous year, the business earned $5.79 EPS. The company’s revenue for the quarter was up 14.2% on a year-over-year basis. On average, sell-side analysts anticipate that UnitedHealth Group Incorporated will post 24.93 earnings per share for the current fiscal year.
UnitedHealth Group Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Tuesday, September 19th. Shareholders of record on Monday, September 11th were issued a $1.88 dividend. This represents a $7.52 dividend on an annualized basis and a yield of 1.42%. The ex-dividend date was Friday, September 8th. UnitedHealth Group’s dividend payout ratio is presently 32.64%.
Analysts Set New Price Targets
UNH has been the subject of several research reports. Deutsche Bank Aktiengesellschaft cut their price target on UnitedHealth Group from $564.00 to $555.00 in a research note on Monday, July 17th. UBS Group raised UnitedHealth Group from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $520.00 to $640.00 in a research note on Monday, October 16th. JPMorgan Chase & Co. boosted their target price on shares of UnitedHealth Group from $527.00 to $532.00 and gave the company an “overweight” rating in a research note on Monday, July 17th. Stephens reissued an “overweight” rating and issued a $560.00 target price on shares of UnitedHealth Group in a research note on Friday, August 11th. Finally, Jefferies Financial Group boosted their target price on shares of UnitedHealth Group from $529.00 to $531.00 and gave the company a “hold” rating in a research note on Monday, October 9th. Two analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $578.30.
Read Our Latest Stock Report on UNH
In other news, EVP Erin Mcsweeney sold 4,498 shares of the stock in a transaction that occurred on Monday, October 16th. The stock was sold at an average price of $544.28, for a total transaction of $2,448,171.44. Following the completion of the transaction, the executive vice president now directly owns 9,218 shares in the company, valued at approximately $5,017,173.04. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In related news, Director Stephen J. Hemsley sold 121,515 shares of the company’s stock in a transaction that occurred on Tuesday, October 17th. The stock was sold at an average price of $540.58, for a total transaction of $65,688,578.70. Following the sale, the director now directly owns 521,818 shares of the company’s stock, valued at approximately $282,084,374.44. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Erin Mcsweeney sold 4,498 shares of the company’s stock in a transaction that occurred on Monday, October 16th. The shares were sold at an average price of $544.28, for a total value of $2,448,171.44. Following the sale, the executive vice president now directly owns 9,218 shares in the company, valued at $5,017,173.04. The disclosure for this sale can be found here. Company insiders own 0.35% of the company’s stock.
UnitedHealth Group Company Profile
UnitedHealth Group Incorporated operates as a diversified health care company in the United States. It operates through four segments: UnitedHealthcare, Optum Health, Optum Insight, and Optum Rx. 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 care coverage, and health and well-being services to individuals age 50 and older addressing their needs; Medicaid plans, children’s health insurance and health care programs; and health and dental benefits, and hospital and clinical services, as well as health care benefits products and services to state programs caring for the economically disadvantaged, medically underserved, and those without the benefit of employer-funded health care coverage.
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