Bowie Capital Management LLC Lowers Stock Holdings in UnitedHealth Group Incorporated (NYSE:UNH)

Bowie Capital Management LLC lowered its position in shares of UnitedHealth Group Incorporated (NYSE:UNH) by 25.0% in the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 178,271 shares of the healthcare conglomerate’s stock after selling 59,266 shares during the quarter. UnitedHealth Group comprises 5.5% of Bowie Capital Management LLC’s holdings, making the stock its 6th biggest position. Bowie Capital Management LLC’s holdings in UnitedHealth Group were worth $90,786,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of the business. Caprock Group LLC grew its holdings in shares of UnitedHealth Group by 48.4% during the 2nd quarter. Caprock Group LLC now owns 21,006 shares of the healthcare conglomerate’s stock worth $10,698,000 after purchasing an additional 6,848 shares in the last quarter. Counterweight Ventures LLC increased its holdings in UnitedHealth Group by 1.6% in the 2nd quarter. Counterweight Ventures LLC now owns 4,808 shares of the healthcare conglomerate’s stock valued at $2,449,000 after buying an additional 74 shares during the period. Napean Trading & Investment Co Singapore PTE Ltd boosted its position in shares of UnitedHealth Group by 7.4% during the 2nd quarter. Napean Trading & Investment Co Singapore PTE Ltd now owns 40,163 shares of the healthcare conglomerate’s stock worth $20,453,000 after acquiring an additional 2,767 shares in the last quarter. Acadian Asset Management LLC raised its position in UnitedHealth Group by 17.5% during the second quarter. Acadian Asset Management LLC now owns 81,483 shares of the healthcare conglomerate’s stock valued at $41,490,000 after purchasing an additional 12,145 shares in the last quarter. Finally, Asset Dedication LLC boosted its stake in UnitedHealth Group by 2.1% in the second quarter. Asset Dedication LLC now owns 15,244 shares of the healthcare conglomerate’s stock valued at $7,763,000 after buying an additional 309 shares in the last quarter. 87.86% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on UNH shares. Wells Fargo & Company raised their price target on shares of UnitedHealth Group from $525.00 to $630.00 and gave the company an “overweight” rating in a research note on Wednesday, July 17th. Cantor Fitzgerald reiterated an “overweight” rating and set a $591.00 price target on shares of UnitedHealth Group in a report on Monday, August 19th. Baird R W raised UnitedHealth Group to a “strong-buy” rating in a report on Thursday, May 30th. Barclays boosted their price target on UnitedHealth Group from $560.00 to $604.00 and gave the stock an “overweight” rating in a report on Wednesday, July 17th. Finally, Jefferies Financial Group raised shares of UnitedHealth Group from a “hold” rating to a “buy” rating and boosted their target price for the stock from $481.00 to $647.00 in a report on Wednesday, July 17th. One research analyst has rated the stock with a hold rating, nineteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, UnitedHealth Group presently has an average rating of “Buy” and a consensus price target of $614.17.

UnitedHealth Group Stock Performance

UNH stock opened at $596.88 on Friday. UnitedHealth Group Incorporated has a 1-year low of $436.38 and a 1-year high of $607.94. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 0.67. The stock has a 50-day moving average price of $558.98 and a 200-day moving average price of $515.11. The firm has a market cap of $549.36 billion, a PE ratio of 36.48, a price-to-earnings-growth ratio of 1.68 and a beta of 0.58.

UnitedHealth Group (NYSE:UNH) last posted its quarterly earnings results on Tuesday, July 16th. The healthcare conglomerate reported $6.80 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $6.66 by $0.14. The firm had revenue of $98.86 billion for the quarter, compared to analysts’ expectations of $98.73 billion. UnitedHealth Group had a return on equity of 26.55% and a net margin of 3.66%. The company’s revenue for the quarter was up 6.4% compared to the same quarter last year. During the same period in the prior year, the business earned $6.14 EPS. As a group, equities research analysts expect that UnitedHealth Group Incorporated will post 27.69 earnings per share for the current year.

UnitedHealth Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 24th. Investors of record on Monday, September 16th will be given a $2.10 dividend. This represents a $8.40 dividend on an annualized basis and a yield of 1.41%. The ex-dividend date is Monday, September 16th. UnitedHealth Group’s payout ratio is 51.34%.

Insider Buying and Selling at UnitedHealth Group

In related news, EVP Erin Mcsweeney sold 1,500 shares of UnitedHealth Group stock in a transaction on Thursday, July 18th. The shares were sold at an average price of $579.03, for a total value of $868,545.00. Following the completion of the sale, the executive vice president now owns 7,785 shares of the company’s stock, valued at approximately $4,507,748.55. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, CAO Thomas E. Roos sold 2,851 shares of the company’s stock in a transaction on Wednesday, July 17th. The shares were sold at an average price of $569.88, for a total value of $1,624,727.88. Following the completion of the sale, the chief accounting officer now owns 29,501 shares in the company, valued at approximately $16,812,029.88. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Erin Mcsweeney sold 1,500 shares of the business’s stock in a transaction dated Thursday, July 18th. The stock was sold at an average price of $579.03, for a total transaction of $868,545.00. Following the transaction, the executive vice president now owns 7,785 shares in the company, valued at $4,507,748.55. The disclosure for this sale can be found here. Insiders own 0.33% of the company’s stock.

About UnitedHealth Group

UnitedHealth Group Incorporated operates as a diversified health care company in the United States. The company operates through four segments: UnitedHealthcare, Optum Health, Optum Insight, and Optum Rx. 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; Medicaid plans, children's health insurance and health care programs; and health and dental benefits, and hospital and clinical services, as well as health care benefits products and services to state programs caring for the economically disadvantaged, medically underserved, and those without the benefit of employer-funded health care coverage.