Lowe Brockenbrough & Co. Inc. decreased its position in UnitedHealth Group Inc (NYSE:UNH) by 0.7% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 40,087 shares of the healthcare conglomerate’s stock after selling 290 shares during the period. UnitedHealth Group makes up about 1.4% of Lowe Brockenbrough & Co. Inc.’s portfolio, making the stock its 16th biggest holding. Lowe Brockenbrough & Co. Inc.’s holdings in UnitedHealth Group were worth $9,835,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Merriman Wealth Management LLC acquired a new stake in UnitedHealth Group during the 2nd quarter worth about $372,000. Richard Bernstein Advisors LLC grew its position in UnitedHealth Group by 47.2% during the 2nd quarter. Richard Bernstein Advisors LLC now owns 2,938 shares of the healthcare conglomerate’s stock worth $721,000 after purchasing an additional 942 shares during the period. Employees Retirement System of Texas grew its position in UnitedHealth Group by 0.6% during the 2nd quarter. Employees Retirement System of Texas now owns 292,600 shares of the healthcare conglomerate’s stock worth $71,786,000 after purchasing an additional 1,700 shares during the period. Gabelli Funds LLC grew its position in UnitedHealth Group by 3.5% during the 2nd quarter. Gabelli Funds LLC now owns 244,600 shares of the healthcare conglomerate’s stock worth $60,010,000 after purchasing an additional 8,300 shares during the period. Finally, NumerixS Investment Technologies Inc acquired a new stake in UnitedHealth Group during the 2nd quarter worth about $980,000. Institutional investors own 85.39% of the company’s stock.

NYSE:UNH opened at $265.31 on Friday. UnitedHealth Group Inc has a 52 week low of $186.00 and a 52 week high of $271.16. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.75 and a current ratio of 0.75. The stock has a market cap of $252.81 billion, a PE ratio of 26.35, a price-to-earnings-growth ratio of 1.56 and a beta of 0.71.

UnitedHealth Group (NYSE:UNH) last posted its earnings results on Tuesday, July 17th. The healthcare conglomerate reported $3.14 EPS for the quarter, beating the Zacks’ 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 firm had revenue of $56.09 billion for the quarter, compared to analysts’ expectations of $56.10 billion. During the same period last year, the firm earned $2.46 EPS. The company’s quarterly revenue was up 12.1% on a year-over-year basis. analysts expect that UnitedHealth Group Inc will post 12.72 EPS 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 often an indication that the company’s management believes its stock is undervalued.

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 18th. Investors of record on Friday, September 7th will be issued 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 payout ratio is 35.75%.

In related news, CEO Steven H. Nelson sold 26,033 shares of UnitedHealth Group stock in a transaction dated Friday, September 7th. The stock was sold at an average price of $270.65, for a total value of $7,045,831.45. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Kenneth Irwin Shine sold 177 shares of UnitedHealth Group stock in a transaction dated 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 owns 29,053 shares in the company, valued at $7,429,433.16. The disclosure for this sale can be found here. Over the last quarter, insiders sold 86,603 shares of company stock worth $22,837,660. 0.87% of the stock is currently owned by insiders.

Several equities research analysts have weighed in on UNH shares. Citigroup downgraded UnitedHealth Group from a “buy” rating to a “neutral” rating and set a $288.00 price target on the stock. in a research report on Monday, September 10th. Goldman Sachs Group reaffirmed a “buy” rating and set a $277.00 price target on shares of UnitedHealth Group in a research report on Tuesday, July 17th. Morgan Stanley increased their price target on UnitedHealth Group from $277.00 to $278.00 and gave the stock a “$255.42” rating in a research report on Wednesday, July 18th. Cantor Fitzgerald reaffirmed a “buy” rating and set a $300.00 price target on shares of UnitedHealth Group in a research report on Thursday, August 9th. Finally, Leerink Swann reaffirmed an “outperform” rating on shares of UnitedHealth Group in a research report on Wednesday, July 18th. Two investment analysts have rated the stock with a hold rating and twenty-one have given a buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $272.43.

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: Diversification

Institutional Ownership by Quarter for UnitedHealth Group (NYSE:UNH)

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