Summit Financial Wealth Advisors LLC lowered its position in shares of UnitedHealth Group Inc (NYSE:UNH) by 3.2% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 20,798 shares of the healthcare conglomerate’s stock after selling 697 shares during the period. UnitedHealth Group accounts for 1.5% of Summit Financial Wealth Advisors LLC’s investment portfolio, making the stock its 14th largest position. Summit Financial Wealth Advisors LLC’s holdings in UnitedHealth Group were worth $4,073,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds have also recently made changes to their positions in UNH. Polianta Ltd acquired a new position in shares of UnitedHealth Group in the 2nd quarter valued at $1,168,000. McQueen Ball & Associates Inc. acquired a new position in shares of UnitedHealth Group in the 2nd quarter valued at $216,000. DnB Asset Management AS boosted its position in shares of UnitedHealth Group by 2.2% in the 2nd quarter. DnB Asset Management AS now owns 501,502 shares of the healthcare conglomerate’s stock valued at $92,989,000 after purchasing an additional 11,000 shares during the period. Hefty Wealth Partners boosted its position in shares of UnitedHealth Group by 11.5% in the 2nd quarter. Hefty Wealth Partners now owns 6,534 shares of the healthcare conglomerate’s stock valued at $1,211,000 after purchasing an additional 672 shares during the period. Finally, Independent Portfolio Consultants Inc. boosted its position in shares of UnitedHealth Group by 58.9% in the 2nd quarter. Independent Portfolio Consultants Inc. now owns 1,851 shares of the healthcare conglomerate’s stock valued at $343,000 after purchasing an additional 686 shares during the period. 86.01% of the stock is owned by institutional investors and hedge funds.
In other news, CEO Larry C. Renfro sold 22,598 shares of the firm’s stock in a transaction dated Friday, December 15th. The stock was sold at an average price of $221.75, for a total transaction of $5,011,106.50. Following the completion of the sale, the chief executive officer now directly owns 195,314 shares of the company’s stock, valued at approximately $43,310,879.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Thomas E. Roos sold 975 shares of the firm’s stock in a transaction dated Thursday, October 19th. The stock was sold at an average price of $205.47, for a total value of $200,333.25. Following the sale, the insider now directly owns 24,630 shares of the company’s stock, valued at $5,060,726.10. The disclosure for this sale can be found here. Insiders have sold a total of 34,630 shares of company stock valued at $7,669,416 over the last ninety days. Company insiders own 0.89% of the company’s stock.
UnitedHealth Group (NYSE:UNH) last posted its quarterly earnings results on Tuesday, October 17th. The healthcare conglomerate reported $2.66 earnings per share for the quarter, topping the Zacks’ consensus estimate of $2.57 by $0.09. UnitedHealth Group had a return on equity of 21.52% and a net margin of 4.50%. The company had revenue of $50.32 billion during the quarter, compared to the consensus estimate of $50.38 billion. During the same period last year, the business earned $2.17 EPS. The business’s quarterly revenue was up 8.7% on a year-over-year basis. analysts predict that UnitedHealth Group Inc will post 9.99 earnings per share for the current year.
The company also recently declared a quarterly dividend, which was paid on Tuesday, December 12th. Stockholders of record on Friday, December 1st were paid a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a dividend yield of 1.34%. The ex-dividend date of this dividend was Thursday, November 30th. UnitedHealth Group’s dividend payout ratio (DPR) is presently 34.09%.
UNH has been the subject of a number of recent analyst reports. Zacks Investment Research upgraded UnitedHealth Group from a “hold” rating to a “buy” rating and set a $219.00 price target for the company in a research report on Thursday, September 21st. ValuEngine lowered UnitedHealth Group from a “buy” rating to a “hold” rating in a research report on Thursday, October 5th. Sanford C. Bernstein reiterated an “outperform” rating and issued a $210.00 price target on shares of UnitedHealth Group in a research report on Tuesday, October 10th. Jefferies Group increased their price target on UnitedHealth Group from $215.00 to $225.00 and gave the company a “buy” rating in a research report on Friday, October 13th. Finally, BMO Capital Markets initiated coverage on UnitedHealth Group in a research report on Monday, October 16th. They issued an “outperform” rating and a $250.00 price target for the company. Three research analysts have rated the stock with a hold rating and twenty-five have assigned a buy rating to the company. The company has an average rating of “Buy” and a consensus price target of $226.74.
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UnitedHealth Group Profile
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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