Forte Capital LLC ADV Makes New $238,000 Investment in UnitedHealth Group Inc (NYSE:UNH)
Forte Capital LLC ADV acquired a new position in shares of UnitedHealth Group Inc (NYSE:UNH) during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 807 shares of the healthcare conglomerate’s stock, valued at approximately $238,000.
A number of other hedge funds also recently added to or reduced their stakes in the business. Everence Capital Management Inc. raised its holdings in UnitedHealth Group by 3.3% during the second quarter. Everence Capital Management Inc. now owns 24,710 shares of the healthcare conglomerate’s stock worth $7,533,000 after purchasing an additional 800 shares in the last quarter. Cottage Street Advisors LLC raised its holdings in UnitedHealth Group by 15.7% during the second quarter. Cottage Street Advisors LLC now owns 5,136 shares of the healthcare conglomerate’s stock worth $1,515,000 after purchasing an additional 698 shares in the last quarter. Carroll Financial Associates Inc. raised its holdings in UnitedHealth Group by 18.7% during the second quarter. Carroll Financial Associates Inc. now owns 3,095 shares of the healthcare conglomerate’s stock worth $912,000 after purchasing an additional 488 shares in the last quarter. Canandaigua National Corp acquired a new position in shares of UnitedHealth Group in the 2nd quarter valued at $767,000. Finally, Investment Counsel Inc. raised its position in UnitedHealth Group by 1.4% in the 2nd quarter. Investment Counsel Inc. now owns 2,575 shares of the healthcare conglomerate’s stock valued at $759,000 after purchasing an additional 35 shares during the last quarter. 86.59% of the stock is currently owned by institutional investors.
In related news, Director Stephen J. Hemsley sold 45,637 shares of the stock in a transaction dated Monday, May 11th. The stock was sold at an average price of $289.11, for a total value of $13,194,113.07. Following the completion of the transaction, the director now owns 1,013,122 shares of the company’s stock, valued at $292,903,701.42. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.80% of the company’s stock.
Shares of UNH opened at $291.16 on Friday. The company has a market capitalization of $276.13 billion, a P/E ratio of 20.38, a P/E/G ratio of 1.47 and a beta of 0.72. UnitedHealth Group Inc has a one year low of $187.72 and a one year high of $315.84. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.75 and a current ratio of 0.75. The stock has a 50-day moving average price of $296.27 and a 200 day moving average price of $282.78.
UnitedHealth Group (NYSE:UNH) last issued its quarterly earnings results on Wednesday, April 15th. The healthcare conglomerate reported $3.72 EPS for the quarter, beating analysts’ consensus estimates of $3.63 by $0.09. The firm had revenue of $64.40 billion during the quarter, compared to the consensus estimate of $64.25 billion. UnitedHealth Group had a return on equity of 24.86% and a net margin of 5.59%. UnitedHealth Group’s revenue for the quarter was up 6.8% on a year-over-year basis. During the same quarter in the prior year, the business posted $3.73 earnings per share. As a group, equities research analysts forecast that UnitedHealth Group Inc will post 16.27 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Monday, June 22nd were issued a $1.25 dividend. The ex-dividend date was Friday, June 19th. This represents a $5.00 dividend on an annualized basis and a yield of 1.72%. This is an increase from UnitedHealth Group’s previous quarterly dividend of $1.08. UnitedHealth Group’s dividend payout ratio is currently 33.09%.
UnitedHealth Group Company Profile
UnitedHealth Group Incorporated operates as a diversified health care company in the United States. It operates through four segments: UnitedHealthcare, OptumHealth, OptumInsight, and OptumRx. 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 and well-being services to individuals age 50 and older, addressing their needs for preventive and acute health care services, as well as services dealing with chronic disease and other specialized issues for older individuals; and Medicaid plans, Children's Health Insurance Program, and health care programs; and health and dental benefits.
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