Partner Investment Management L.P. Reduces Holdings in UnitedHealth Group Inc (UNH)
Partner Investment Management L.P. reduced its position in UnitedHealth Group Inc (NYSE:UNH) by 27.0% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,420 shares of the healthcare conglomerate’s stock after selling 1,635 shares during the quarter. Partner Investment Management L.P.’s holdings in UnitedHealth Group were worth $1,176,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Utah Retirement Systems lifted its stake in UnitedHealth Group by 0.5% during the third quarter. Utah Retirement Systems now owns 177,858 shares of the healthcare conglomerate’s stock worth $47,317,000 after purchasing an additional 800 shares during the last quarter. First Republic Investment Management Inc. lifted its stake in UnitedHealth Group by 0.3% during the third quarter. First Republic Investment Management Inc. now owns 429,268 shares of the healthcare conglomerate’s stock worth $114,202,000 after purchasing an additional 1,209 shares during the last quarter. Bailard Inc. lifted its stake in UnitedHealth Group by 0.8% during the third quarter. Bailard Inc. now owns 35,583 shares of the healthcare conglomerate’s stock worth $9,467,000 after purchasing an additional 273 shares during the last quarter. Highbridge Capital Management LLC purchased a new stake in UnitedHealth Group during the third quarter worth approximately $9,983,000. Finally, Bronfman E.L. Rothschild L.P. lifted its stake in UnitedHealth Group by 2.2% during the third quarter. Bronfman E.L. Rothschild L.P. now owns 16,398 shares of the healthcare conglomerate’s stock worth $4,363,000 after purchasing an additional 359 shares during the last quarter. 85.54% of the stock is owned by institutional investors.
A number of equities research analysts have weighed in on UNH shares. Morgan Stanley boosted their price objective on UnitedHealth Group from $278.00 to $305.00 and gave the company an “overweight” rating in a research note on Wednesday, September 5th. Citigroup cut UnitedHealth Group from a “buy” rating to a “neutral” rating and set a $288.00 price objective for the company. in a research note on Monday, September 10th. ValuEngine cut UnitedHealth Group from a “buy” rating to a “hold” rating in a research note on Tuesday, September 11th. Cowen started coverage on UnitedHealth Group in a research note on Monday, September 17th. They issued an “outperform” rating and a $308.00 price objective for the company. Finally, Zacks Investment Research cut UnitedHealth Group from a “buy” rating to a “hold” rating in a research note on Tuesday, September 18th. One analyst has rated the stock with a hold rating and twenty-two have given a buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $293.10.
UnitedHealth Group (NYSE:UNH) last released its earnings results on Tuesday, October 16th. The healthcare conglomerate reported $3.41 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $3.30 by $0.11. The business had revenue of $56.56 billion for the quarter, compared to analyst estimates of $56.34 billion. UnitedHealth Group had a return on equity of 23.62% and a net margin of 5.71%. The company’s revenue for the quarter was up 12.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.66 earnings per share. Equities analysts predict that UnitedHealth Group Inc will post 12.82 earnings per share for the current year.
The business also recently announced a quarterly dividend, which was paid on Thursday, December 13th. Stockholders of record on Monday, December 3rd were issued a $0.90 dividend. This represents a $3.60 dividend on an annualized basis and a dividend yield of 1.36%. The ex-dividend date was Friday, November 30th. UnitedHealth Group’s payout ratio is currently 35.75%.
In other news, Director Richard T. Burke sold 6,090 shares of the business’s stock in a transaction that occurred on Wednesday, November 28th. The stock was sold at an average price of $281.72, for a total value of $1,715,674.80. Following the transaction, the director now owns 1,711,584 shares of the company’s stock, valued at $482,187,444.48. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Kenneth Irwin Shine sold 163 shares of the business’s stock in a transaction that occurred on Friday, November 9th. The shares were sold at an average price of $274.83, for a total value of $44,797.29. The disclosure for this sale can be found here. Insiders own 0.87% of the company’s stock.
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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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