Eagle Ridge Investment Management Reduces Position in UnitedHealth Group Incorporated (UNH)
Eagle Ridge Investment Management cut its stake in shares of UnitedHealth Group Incorporated (NYSE:UNH) by 0.2% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 76,191 shares of the healthcare conglomerate’s stock after selling 124 shares during the quarter. UnitedHealth Group accounts for about 2.7% of Eagle Ridge Investment Management’s investment portfolio, making the stock its 5th largest holding. Eagle Ridge Investment Management’s holdings in UnitedHealth Group were worth $14,127,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds also recently modified their holdings of the stock. Honeywell International Inc. purchased a new stake in shares of UnitedHealth Group in the 1st quarter worth about $35,262,000. Suntrust Banks Inc. boosted its stake in shares of UnitedHealth Group by 8.5% during the 1st quarter. Suntrust Banks Inc. now owns 260,811 shares of the healthcare conglomerate’s stock valued at $42,774,000 after purchasing an additional 20,541 shares in the last quarter. Factory Mutual Insurance Co. boosted its stake in shares of UnitedHealth Group by 20.9% during the 2nd quarter. Factory Mutual Insurance Co. now owns 416,600 shares of the healthcare conglomerate’s stock valued at $77,245,000 after purchasing an additional 72,000 shares in the last quarter. Shell Asset Management Co. boosted its stake in shares of UnitedHealth Group by 0.8% during the 2nd quarter. Shell Asset Management Co. now owns 157,241 shares of the healthcare conglomerate’s stock valued at $29,156,000 after purchasing an additional 1,254 shares in the last quarter. Finally, Moody Lynn & Lieberson LLC boosted its stake in shares of UnitedHealth Group by 569.9% during the 2nd quarter. Moody Lynn & Lieberson LLC now owns 8,937 shares of the healthcare conglomerate’s stock valued at $1,657,000 after purchasing an additional 7,603 shares in the last quarter. Institutional investors own 86.19% of the company’s stock.
Shares of UnitedHealth Group Incorporated (NYSE UNH) opened at 198.63 on Wednesday. The stock’s 50 day moving average is $195.91 and its 200 day moving average is $183.12. UnitedHealth Group Incorporated has a 52-week low of $133.03 and a 52-week high of $200.76. The stock has a market cap of $192.05 billion, a price-to-earnings ratio of 23.86 and a beta of 0.63.
UnitedHealth Group (NYSE:UNH) last released its earnings results on Tuesday, July 18th. The healthcare conglomerate reported $2.46 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.38 by $0.08. UnitedHealth Group had a return on equity of 21.52% and a net margin of 4.32%. The firm had revenue of $50.05 billion for the quarter, compared to the consensus estimate of $49.97 billion. During the same period in the prior year, the firm earned $1.96 EPS. The firm’s revenue was up 7.7% on a year-over-year basis. On average, equities analysts predict that UnitedHealth Group Incorporated will post $9.87 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Tuesday, September 19th. Shareholders of record on Friday, September 8th were given a dividend of $0.75 per share. The ex-dividend date was Thursday, September 7th. This represents a $3.00 dividend on an annualized basis and a yield of 1.51%. UnitedHealth Group’s dividend payout ratio is currently 35.13%.
Several analysts have commented on UNH shares. ValuEngine upgraded shares of UnitedHealth Group from a “hold” rating to a “buy” rating in a report on Friday, September 1st. Cantor Fitzgerald reiterated a “buy” rating on shares of UnitedHealth Group in a report on Tuesday, August 29th. Zacks Investment Research upgraded UnitedHealth Group from a “hold” rating to a “buy” rating and set a $219.00 target price on the stock in a report on Thursday, September 21st. UBS AG reissued an “overweight” rating on shares of UnitedHealth Group in a research report on Thursday, August 24th. Finally, Morgan Stanley increased their target price on UnitedHealth Group from $210.00 to $215.00 and gave the stock an “overweight” rating in a research report on Thursday, August 17th. Two investment analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $203.59.
In other news, Director Gail R. Wilensky sold 5,600 shares of the stock in a transaction dated Tuesday, September 5th. The stock was sold at an average price of $199.49, for a total value of $1,117,144.00. Following the transaction, the director now directly owns 60,834 shares of the company’s stock, valued at $12,135,774.66. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Larry C. Renfro sold 50,574 shares of the stock in a transaction dated Friday, September 15th. The shares were sold at an average price of $198.11, for a total value of $10,019,215.14. Following the completion of the transaction, the insider now directly owns 195,625 shares in the company, valued at $38,755,268.75. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 76,174 shares of company stock valued at $14,981,909. 0.89% of the stock is currently owned by insiders.
UnitedHealth Group Company Profile
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.
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 Analyst Ratings Network's FREE daily email newsletter.