Hilltop Holdings Inc. Acquires 1,292 Shares of UnitedHealth Group Inc (UNH)
Hilltop Holdings Inc. boosted its position in UnitedHealth Group Inc (NYSE:UNH) by 23.7% in the second quarter, according to its most recent filing with the SEC. The institutional investor owned 6,738 shares of the healthcare conglomerate’s stock after purchasing an additional 1,292 shares during the period. Hilltop Holdings Inc.’s holdings in UnitedHealth Group were worth $1,653,000 as of its most recent SEC filing.
Other hedge funds have also recently modified their holdings of the company. Welch Group LLC bought a new stake in UnitedHealth Group in the 2nd quarter worth about $106,000. Blue Chip Partners Inc. bought a new stake in UnitedHealth Group in the 2nd quarter worth about $107,000. Northwest Wealth Management LLC bought a new stake in UnitedHealth Group in the 2nd quarter worth about $117,000. Fort L.P. bought a new stake in UnitedHealth Group in the 2nd quarter worth about $119,000. Finally, Bamco Inc. NY bought a new stake in UnitedHealth Group in the 1st quarter worth about $117,000. 85.30% of the stock is owned by institutional investors and hedge funds.
In related news, CEO Steven H. Nelson sold 8,142 shares of the company’s stock in a transaction that occurred on Thursday, September 13th. The shares were sold at an average price of $265.00, for a total transaction of $2,157,630.00. Following the sale, the chief executive officer now directly owns 22,496 shares in the company, valued at approximately $5,961,440. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP D Ellen Wilson sold 15,393 shares of the company’s stock in a transaction that occurred on Friday, August 24th. The shares were sold at an average price of $264.29, for a total transaction of $4,068,215.97. Following the sale, the executive vice president now owns 66,402 shares in the company, valued at $17,549,384.58. The disclosure for this sale can be found here. Insiders have sold a total of 94,745 shares of company stock worth $24,995,290 over the last 90 days. 0.87% of the stock is currently owned by corporate insiders.
UnitedHealth Group (NYSE:UNH) last released its earnings results on Tuesday, July 17th. The healthcare conglomerate reported $3.14 earnings per share for the quarter, beating the Zacks’ consensus estimate of $3.04 by $0.10. The firm had revenue of $56.09 billion for the quarter, compared to analysts’ expectations of $56.10 billion. UnitedHealth Group had a net margin of 5.55% and a return on equity of 22.79%. The company’s quarterly revenue was up 12.1% on a year-over-year basis. During the same period in the previous year, the company earned $2.46 earnings per share. research analysts anticipate that UnitedHealth Group Inc will post 12.72 earnings per share for the current fiscal year.
UnitedHealth Group announced that its board has initiated a stock buyback program on Wednesday, June 6th that permits the company to repurchase 100,000,000 outstanding shares. This repurchase authorization permits the healthcare conglomerate to repurchase shares of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s board of directors believes its stock is undervalued.
The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 18th. Investors of record on Friday, September 7th were paid a dividend of $0.90 per share. This represents a $3.60 dividend on an annualized basis and a dividend yield of 1.37%. The ex-dividend date of this dividend was Thursday, September 6th. UnitedHealth Group’s payout ratio is currently 35.75%.
UNH has been the subject of a number of recent analyst reports. Morgan Stanley upped their price objective on shares of UnitedHealth Group from $277.00 to $278.00 and gave the stock a “$255.42” rating in a research report on Wednesday, July 18th. Citigroup upped their price objective on shares of UnitedHealth Group from $275.00 to $288.00 and gave the stock a “$255.42” rating in a research report on Wednesday, July 18th. Royal Bank of Canada upped their price objective on shares of UnitedHealth Group from $282.00 to $284.00 and gave the stock a “$255.42” rating in a research report on Wednesday, July 18th. Goldman Sachs Group reaffirmed a “buy” rating and issued a $277.00 price objective on shares of UnitedHealth Group in a research report on Tuesday, July 17th. Finally, Zacks Investment Research raised shares of UnitedHealth Group from a “hold” rating to a “buy” rating and set a $287.00 price objective for the company in a research report on Sunday, July 15th. Two equities research analysts have rated the stock with a hold rating, twenty-one have given a buy rating and one has given a strong buy rating to the company. UnitedHealth Group currently has a consensus rating of “Buy” and an average price target of $275.87.
UnitedHealth Group 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 care coverage, and 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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