Cornerstone Wealth Group LLC bought a new stake in shares of UnitedHealth Group Inc (NYSE:UNH) in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 1,771 shares of the healthcare conglomerate’s stock, valued at approximately $432,000.
Several other hedge funds have also modified their holdings of UNH. Canton Hathaway LLC bought a new position in UnitedHealth Group in the 1st quarter worth $36,000. Truvestments Capital LLC purchased a new stake in UnitedHealth Group in the 1st quarter worth about $42,000. Coastal Capital Group Inc. purchased a new stake in UnitedHealth Group in the 2nd quarter worth about $45,000. Creative Financial Designs Inc. ADV grew its stake in UnitedHealth Group by 89.6% in the 1st quarter. Creative Financial Designs Inc. ADV now owns 201 shares of the healthcare conglomerate’s stock worth $50,000 after acquiring an additional 95 shares in the last quarter. Finally, Capital Advisors Ltd. LLC grew its stake in UnitedHealth Group by 235.7% in the 2nd quarter. Capital Advisors Ltd. LLC now owns 235 shares of the healthcare conglomerate’s stock worth $57,000 after acquiring an additional 165 shares in the last quarter. 86.04% of the stock is owned by hedge funds and other institutional investors.
Shares of UNH stock traded up $4.61 during trading hours on Friday, reaching $234.71. 1,066,749 shares of the company’s stock were exchanged, compared to its average volume of 3,573,297. The company has a quick ratio of 0.67, a current ratio of 0.67 and a debt-to-equity ratio of 0.62. The business has a fifty day moving average price of $241.01 and a 200-day moving average price of $243.65. UnitedHealth Group Inc has a fifty-two week low of $208.07 and a fifty-two week high of $287.94. The stock has a market capitalization of $220.30 billion, a P/E ratio of 18.22, a P/E/G ratio of 1.24 and a beta of 0.62.
UnitedHealth Group (NYSE:UNH) last released its quarterly earnings data on Thursday, July 18th. The healthcare conglomerate reported $3.60 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.46 by $0.14. The firm had revenue of $60.60 billion during the quarter, compared to analyst estimates of $60.59 billion. UnitedHealth Group had a return on equity of 25.20% and a net margin of 5.51%. The business’s revenue for the quarter was up 8.0% compared to the same quarter last year. During the same period in the prior year, the company posted $3.14 earnings per share. As a group, research analysts expect that UnitedHealth Group Inc will post 14.84 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 24th. Investors of record on Monday, September 16th will be paid a $1.08 dividend. The ex-dividend date is Friday, September 13th. This represents a $4.32 annualized dividend and a yield of 1.84%. UnitedHealth Group’s dividend payout ratio (DPR) is presently 33.54%.
In other UnitedHealth Group news, Director William C. Ballard, Jr. sold 12,000 shares of UnitedHealth Group stock in a transaction on Tuesday, July 23rd. The stock was sold at an average price of $255.31, for a total value of $3,063,720.00. Following the completion of the transaction, the director now directly owns 61,309 shares of the company’s stock, valued at approximately $15,652,800.79. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Richard T. Burke sold 5,000 shares of UnitedHealth Group stock in a transaction on Thursday, August 8th. The shares were sold at an average price of $246.40, for a total value of $1,232,000.00. Following the completion of the transaction, the director now directly owns 187,979 shares of the company’s stock, valued at $46,318,025.60. The disclosure for this sale can be found here. Insiders sold a total of 19,000 shares of company stock valued at $4,758,720 over the last 90 days. 0.87% of the stock is currently owned by corporate insiders.
A number of equities analysts have commented on the stock. Deutsche Bank initiated coverage on shares of UnitedHealth Group in a research note on Thursday. They issued a “hold” rating and a $263.00 target price on the stock. Royal Bank of Canada set a $311.00 price objective on shares of UnitedHealth Group and gave the company a “buy” rating in a research note on Friday, July 19th. Cantor Fitzgerald set a $310.00 target price on shares of UnitedHealth Group and gave the company a “buy” rating in a research note on Friday, July 19th. Cleveland Research restated a “buy” rating on shares of UnitedHealth Group in a research note on Monday, July 15th. Finally, Zacks Investment Research raised shares of UnitedHealth Group from a “sell” rating to a “buy” rating and set a $269.00 price target for the company in a report on Monday, July 22nd. One research analyst has rated the stock with a sell rating, two have issued a hold rating and eighteen have given a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus price target of $292.47.
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 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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