River & Mercantile Asset Management LLP Increases Position in UnitedHealth Group Inc (UNH)
River & Mercantile Asset Management LLP boosted its position in UnitedHealth Group Inc (NYSE:UNH) by 4.6% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 19,051 shares of the healthcare conglomerate’s stock after acquiring an additional 831 shares during the period. River & Mercantile Asset Management LLP’s holdings in UnitedHealth Group were worth $4,676,000 as of its most recent SEC filing.
A number of other institutional investors have also recently made changes to their positions in UNH. Welch Group LLC purchased a new position in UnitedHealth Group during the 2nd quarter valued at about $106,000. Blue Chip Partners Inc. purchased a new position in UnitedHealth Group during the 2nd quarter valued at about $107,000. Bamco Inc. NY purchased a new position in UnitedHealth Group during the 1st quarter valued at about $117,000. Northwest Wealth Management LLC purchased a new position in UnitedHealth Group during the 2nd quarter valued at about $117,000. Finally, Bruderman Asset Management LLC purchased a new position in UnitedHealth Group during the 1st quarter valued at about $134,000. Institutional investors and hedge funds own 85.06% of the company’s stock.
A number of research analysts have weighed in on the company. Zacks Investment Research raised UnitedHealth Group from a “hold” rating to a “buy” rating and set a $278.00 target price for the company in a report on Wednesday, May 23rd. Leerink Swann reaffirmed an “outperform” rating on shares of UnitedHealth Group in a report on Wednesday, July 18th. BMO Capital Markets lifted their target price on UnitedHealth Group from $275.00 to $285.00 and gave the company a “buy” rating in a report on Thursday, June 7th. Citigroup lifted their target price on UnitedHealth Group from $275.00 to $288.00 and gave the company a “$255.42” rating in a report on Wednesday, July 18th. Finally, ValuEngine raised UnitedHealth Group from a “hold” rating to a “buy” rating in a report on Wednesday, May 2nd. Twenty-one research analysts have rated the stock with a buy rating, The company currently has an average rating of “Buy” and an average target price of $271.14.
UnitedHealth Group (NYSE:UNH) last issued its quarterly earnings data on Tuesday, July 17th. The healthcare conglomerate reported $3.14 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $3.04 by $0.10. UnitedHealth Group had a return on equity of 22.79% and a net margin of 5.55%. The company had revenue of $56.09 billion during the quarter, compared to analyst estimates of $56.10 billion. During the same quarter in the previous year, the firm earned $2.46 earnings per share. UnitedHealth Group’s revenue was up 12.1% on a year-over-year basis. sell-side analysts anticipate that UnitedHealth Group Inc will post 12.72 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 18th. Shareholders of record on Friday, September 7th will be paid a $0.90 dividend. This represents a $3.60 annualized dividend and a yield of 1.36%. The ex-dividend date is Thursday, September 6th. UnitedHealth Group’s dividend payout ratio is currently 35.75%.
UnitedHealth Group announced that its Board of Directors has initiated a stock buyback program on Wednesday, June 6th that permits the company to repurchase 100,000,000 shares. This repurchase authorization permits the healthcare conglomerate to buy shares of its stock through open market purchases. Shares repurchase programs are usually an indication that the company’s board of directors believes its shares are undervalued.
In other UnitedHealth Group news, insider Larry C. Renfro sold 19,652 shares of the company’s stock in a transaction that occurred on Friday, June 15th. The stock was sold at an average price of $254.55, for a total value of $5,002,416.60. Following the completion of the sale, the insider now owns 153,679 shares of the company’s stock, valued at $39,118,989.45. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Kenneth Irwin Shine sold 177 shares of the company’s stock in a transaction that occurred on Wednesday, July 18th. The stock was sold at an average price of $255.72, for a total value of $45,262.44. Following the completion of the sale, the director now directly owns 29,053 shares of the company’s stock, valued at approximately $7,429,433.16. The disclosure for this sale can be found here. In the last ninety days, insiders sold 44,829 shares of company stock valued at $11,457,829. 0.87% of the stock is owned by insiders.
About UnitedHealth Group
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.
Read More: Investing in Growth Stocks
Receive News & Ratings for UnitedHealth Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for UnitedHealth Group and related companies with MarketBeat.com's FREE daily email newsletter.