North Point Portfolio Managers Corp OH purchased a new position in shares of UnitedHealth Group Inc (NYSE:UNH) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 56,339 shares of the healthcare conglomerate’s stock, valued at approximately $13,747,000. UnitedHealth Group accounts for approximately 2.5% of North Point Portfolio Managers Corp OH’s investment portfolio, making the stock its 15th largest holding.
Other hedge funds have also recently added to or reduced their stakes in the company. Canton Hathaway LLC purchased a new stake in shares of UnitedHealth Group in the 1st quarter worth approximately $36,000. Truvestments Capital LLC acquired a new position in UnitedHealth Group during the 1st quarter valued at approximately $42,000. Coastal Capital Group Inc. acquired a new position in UnitedHealth Group during the 2nd quarter valued at approximately $45,000. Creative Financial Designs Inc. ADV increased its stake in UnitedHealth Group by 89.6% during the 1st quarter. Creative Financial Designs Inc. ADV now owns 201 shares of the healthcare conglomerate’s stock valued at $50,000 after purchasing an additional 95 shares in the last quarter. Finally, Capital Advisors Ltd. LLC increased its stake in shares of UnitedHealth Group by 235.7% in the second quarter. Capital Advisors Ltd. LLC now owns 235 shares of the healthcare conglomerate’s stock worth $57,000 after acquiring an additional 165 shares during the period. 85.65% of the stock is owned by hedge funds and other institutional investors.
In related news, Director Richard T. Burke sold 10,000 shares of the business’s stock in a transaction dated Wednesday, May 29th. The shares were sold at an average price of $241.99, for a total value of $2,419,900.00. Following the sale, the director now directly owns 187,663 shares in the company, valued at approximately $45,412,569.37. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director William C. Ballard, Jr. sold 12,000 shares of the business’s stock in a transaction dated Tuesday, July 23rd. The stock was sold at an average price of $255.31, for a total transaction of $3,063,720.00. Following the completion of the sale, the director now owns 61,309 shares in the company, valued at $15,652,800.79. The disclosure for this sale can be found here. Insiders sold a total of 37,000 shares of company stock worth $9,195,620 over the last quarter. Insiders own 0.87% of the company’s stock.
Shares of UnitedHealth Group stock traded up $0.86 during trading on Friday, reaching $245.11. The company’s stock had a trading volume of 115,287 shares, compared to its average volume of 3,495,793. The company has a 50-day moving average price of $251.29 and a two-hundred day moving average price of $247.72. The firm has a market cap of $232.43 billion, a PE ratio of 19.04, a P/E/G ratio of 1.33 and a beta of 0.61. UnitedHealth Group Inc has a fifty-two week low of $208.07 and a fifty-two week high of $287.94. The company has a current ratio of 0.67, a quick ratio of 0.67 and a debt-to-equity ratio of 0.62.
UnitedHealth Group (NYSE:UNH) last posted its quarterly earnings results on Thursday, July 18th. The healthcare conglomerate reported $3.60 earnings per share for the quarter, topping the Zacks’ consensus estimate of $3.46 by $0.14. UnitedHealth Group had a net margin of 5.51% and a return on equity of 25.20%. The business had revenue of $60.60 billion for the quarter, compared to analysts’ expectations of $60.59 billion. During the same period in the prior year, the company posted $3.14 EPS. The business’s revenue for the quarter was up 8.0% on a year-over-year basis. On average, analysts predict that UnitedHealth Group Inc will post 14.84 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 24th. Investors of record on Monday, September 16th will be given a $1.08 dividend. The ex-dividend date of this dividend is Friday, September 13th. This represents a $4.32 annualized dividend and a dividend yield of 1.76%. UnitedHealth Group’s dividend payout ratio is presently 33.54%.
A number of analysts have recently weighed in on the stock. Royal Bank of Canada set a $311.00 price objective on shares of UnitedHealth Group and gave the stock a “buy” rating in a research note on Friday, July 19th. Zacks Investment Research raised shares of UnitedHealth Group from a “sell” rating to a “buy” rating and set a $269.00 price target on the stock in a report on Monday, July 22nd. Cleveland Research reissued a “buy” rating on shares of UnitedHealth Group in a report on Monday, July 15th. Oppenheimer set a $312.00 price target on shares of UnitedHealth Group and gave the stock a “buy” rating in a report on Friday, July 19th. Finally, ValuEngine downgraded shares of UnitedHealth Group from a “hold” rating to a “sell” rating in a report on Thursday, April 18th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and eighteen have assigned a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price of $295.06.
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 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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