WESPAC Advisors SoCal LLC Has $7.61 Million Holdings in UnitedHealth Group Inc (UNH)
WESPAC Advisors SoCal LLC decreased its holdings in UnitedHealth Group Inc (NYSE:UNH) by 3.0% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 30,998 shares of the healthcare conglomerate’s stock after selling 960 shares during the period. UnitedHealth Group makes up approximately 4.3% of WESPAC Advisors SoCal LLC’s investment portfolio, making the stock its 2nd largest position. WESPAC Advisors SoCal LLC’s holdings in UnitedHealth Group were worth $7,605,000 as of its most recent SEC filing.
A number of other hedge funds have also added to or reduced their stakes in the business. Welch Group LLC purchased a new position in shares of UnitedHealth Group during the 2nd quarter worth approximately $106,000. Blue Chip Partners Inc. purchased a new position in shares of UnitedHealth Group during the 2nd quarter worth approximately $107,000. Northwest Wealth Management LLC purchased a new position in shares of UnitedHealth Group during the 2nd quarter worth approximately $117,000. Bamco Inc. NY purchased a new position in shares of UnitedHealth Group during the 1st quarter worth approximately $117,000. Finally, Bruderman Asset Management LLC purchased a new position in shares of UnitedHealth Group during the 1st quarter worth approximately $134,000. Institutional investors own 85.17% of the company’s stock.
In other news, insider Larry C. Renfro sold 19,652 shares of UnitedHealth Group stock in a transaction on Friday, June 15th. The shares were sold at an average price of $254.55, for a total transaction of $5,002,416.60. Following the completion of the sale, the insider now directly owns 153,679 shares of the company’s stock, valued at approximately $39,118,989.45. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Kenneth Irwin Shine sold 177 shares of UnitedHealth Group stock in a transaction on Wednesday, July 18th. The stock was sold at an average price of $255.72, for a total transaction of $45,262.44. Following the sale, the director now directly owns 29,053 shares of the company’s stock, valued at $7,429,433.16. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 44,829 shares of company stock valued at $11,457,829. Corporate insiders own 0.87% of the company’s stock.
UnitedHealth Group (NYSE:UNH) last released its quarterly earnings data on Tuesday, July 17th. The healthcare conglomerate reported $3.14 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $3.04 by $0.10. The business had revenue of $56.09 billion during 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 revenue for the quarter was up 12.1% on a year-over-year basis. During the same period in the previous year, the company earned $2.46 EPS. sell-side analysts forecast that UnitedHealth Group Inc will post 12.72 earnings per share for the current year.
UnitedHealth Group announced that its Board of Directors has approved a stock buyback program on Wednesday, June 6th that authorizes the company to buyback 100,000,000 outstanding shares. This buyback authorization authorizes the healthcare conglomerate to purchase shares of its stock through open market purchases. Stock buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 18th. Stockholders of record on Friday, September 7th will be given a dividend of $0.90 per share. The ex-dividend date is Thursday, September 6th. This represents a $3.60 annualized dividend and a dividend yield of 1.37%. UnitedHealth Group’s dividend payout ratio (DPR) is currently 35.75%.
A number of equities analysts recently weighed in on UNH shares. Royal Bank of Canada increased 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. Citigroup increased 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. Morgan Stanley increased 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. Goldman Sachs Group reaffirmed a “buy” rating and set 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. Twenty-two analysts have rated the stock with a buy rating, UnitedHealth Group presently has a consensus rating of “Buy” and an average price target of $271.14.
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.
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