UnitedHealth Group Incorporated (UNH) Position Held by Peak Asset Management LLC
Peak Asset Management LLC continued to hold its stake in shares of UnitedHealth Group Incorporated (NYSE:UNH) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,974 shares of the healthcare conglomerate’s stock at the close of the 2nd quarter. Peak Asset Management LLC’s holdings in UnitedHealth Group were worth $366,000 at the end of the most recent quarter.
Other large investors have also recently modified their holdings of the company. Patriot Financial Group Insurance Agency LLC lifted its stake in UnitedHealth Group by 1,722.9% in the 1st quarter. Patriot Financial Group Insurance Agency LLC now owns 638 shares of the healthcare conglomerate’s stock valued at $106,000 after purchasing an additional 603 shares during the last quarter. Kings Point Capital Management lifted its stake in UnitedHealth Group by 27.9% in the 1st quarter. Kings Point Capital Management now owns 687 shares of the healthcare conglomerate’s stock valued at $113,000 after purchasing an additional 150 shares during the last quarter. Founders Capital Management acquired a new stake in UnitedHealth Group in the 1st quarter valued at about $135,000. Parkside Financial Bank & Trust lifted its stake in UnitedHealth Group by 1.4% in the 1st quarter. Parkside Financial Bank & Trust now owns 854 shares of the healthcare conglomerate’s stock valued at $140,000 after purchasing an additional 12 shares during the last quarter. Finally, Hanson McClain Inc. lifted its stake in UnitedHealth Group by 1.7% in the 1st quarter. Hanson McClain Inc. now owns 895 shares of the healthcare conglomerate’s stock valued at $147,000 after purchasing an additional 15 shares during the last quarter. Institutional investors and hedge funds own 86.19% of the company’s stock.
In other news, insider Larry C. Renfro sold 50,574 shares of the stock in a transaction on Friday, September 15th. The shares were sold at an average price of $198.11, for a total value of $10,019,215.14. Following the transaction, the insider now owns 195,625 shares of the company’s stock, valued at approximately $38,755,268.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director William C. Ballard, Jr. sold 5,000 shares of the stock in a transaction on Thursday, August 3rd. The stock was sold at an average price of $193.98, for a total transaction of $969,900.00. Following the completion of the transaction, the director now directly owns 76,058 shares in the company, valued at approximately $14,753,730.84. The disclosure for this sale can be found here. Insiders sold a total of 76,174 shares of company stock worth $14,981,909 in the last three months. Insiders own 0.89% of the company’s stock.
Several brokerages recently issued reports on UNH. ValuEngine downgraded shares of UnitedHealth Group from a “buy” rating to a “hold” rating in a research note on Thursday. Sanford C. Bernstein reiterated an “outperform” rating and issued a $190.00 target price on shares of UnitedHealth Group in a research note on Monday, July 10th. Credit Suisse Group restated an “outperform” rating and set a $200.00 price objective (up from $195.00) on shares of UnitedHealth Group in a research report on Thursday, July 13th. Cantor Fitzgerald restated a “buy” rating and set a $205.00 price objective on shares of UnitedHealth Group in a research report on Friday, July 7th. Finally, Citigroup Inc. raised their price objective on shares of UnitedHealth Group from $195.00 to $213.00 and gave the stock a “buy” rating in a research report on Wednesday, July 19th. Three investment analysts have rated the stock with a hold rating and twenty-three have assigned a buy rating to the stock. The company has an average rating of “Buy” and an average target price of $203.59.
Shares of UnitedHealth Group Incorporated (NYSE:UNH) opened at 200.48 on Thursday. UnitedHealth Group Incorporated has a 1-year low of $133.03 and a 1-year high of $200.76. The company has a market cap of $193.84 billion, a PE ratio of 24.08 and a beta of 0.63. The firm’s 50 day moving average is $196.09 and its 200-day moving average is $183.24.
UnitedHealth Group (NYSE:UNH) last issued its quarterly earnings results on Tuesday, July 18th. The healthcare conglomerate reported $2.46 EPS for the quarter, topping the Zacks’ consensus estimate of $2.38 by $0.08. The firm had revenue of $50.05 billion for the quarter, compared to analyst estimates of $49.97 billion. UnitedHealth Group had a net margin of 4.32% and a return on equity of 21.52%. The business’s revenue for the quarter was up 7.7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.96 EPS. Equities analysts expect that UnitedHealth Group Incorporated will post $9.87 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Tuesday, September 19th. Stockholders of record on Friday, September 8th were issued a $0.75 dividend. This represents a $3.00 dividend on an annualized basis and a dividend yield of 1.50%. The ex-dividend date of this dividend was Thursday, September 7th. UnitedHealth Group’s payout ratio is 35.13%.
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About UnitedHealth Group
UnitedHealth Group Incorporated is a health and well-being company. The Company operates through four segments: UnitedHealthcare, OptumHealth, OptumInsight and OptumRx. It conducts its operations through two business platforms: health benefits operating under UnitedHealthcare and health services operating under Optum.
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