Muhlenkamp & Co. Inc. trimmed its stake in shares of UnitedHealth Group Inc (NYSE:UNH) by 40.8% during the second quarter, Holdings Channel reports. The firm owned 29,884 shares of the healthcare conglomerate’s stock after selling 20,590 shares during the period. UnitedHealth Group comprises about 3.5% of Muhlenkamp & Co. Inc.’s holdings, making the stock its 14th largest position. Muhlenkamp & Co. Inc.’s holdings in UnitedHealth Group were worth $7,292,000 as of its most recent SEC filing.
Other institutional investors also recently made changes to their positions in the company. Eastern Bank raised its position in shares of UnitedHealth Group by 2.0% during the 2nd quarter. Eastern Bank now owns 69,088 shares of the healthcare conglomerate’s stock worth $16,858,000 after purchasing an additional 1,375 shares during the period. Enterprise Bank & Trust Co acquired a new stake in UnitedHealth Group in the 1st quarter valued at approximately $3,785,000. Private Advisors LLC increased its position in UnitedHealth Group by 57.9% in the 1st quarter. Private Advisors LLC now owns 6,501 shares of the healthcare conglomerate’s stock valued at $1,607,000 after acquiring an additional 2,385 shares during the period. Capital Investment Advisors LLC increased its position in UnitedHealth Group by 26.2% in the 2nd quarter. Capital Investment Advisors LLC now owns 6,379 shares of the healthcare conglomerate’s stock valued at $1,556,000 after acquiring an additional 1,323 shares during the period. Finally, Berkeley Capital Partners LLC increased its position in UnitedHealth Group by 7.4% in the 2nd quarter. Berkeley Capital Partners LLC now owns 2,220 shares of the healthcare conglomerate’s stock valued at $542,000 after acquiring an additional 153 shares during the period. Institutional investors and hedge funds own 85.66% of the company’s stock.
Several research firms recently commented on UNH. Oppenheimer set a $312.00 target price on UnitedHealth Group and gave the company a “buy” rating in a research report on Friday, July 19th. ValuEngine cut UnitedHealth Group from a “hold” rating to a “sell” rating in a research report on Thursday, September 5th. BMO Capital Markets cut UnitedHealth Group from an “outperform” rating to a “market perform” rating and lowered their target price for the company from $292.00 to $249.00 in a research report on Monday. Morgan Stanley lowered their target price on UnitedHealth Group from $298.00 to $294.00 and set an “overweight” rating on the stock in a research report on Thursday, September 26th. Finally, Credit Suisse Group set a $293.00 target price on UnitedHealth Group and gave the company a “buy” rating in a research report on Thursday, August 29th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and sixteen have issued a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus target price of $288.00.
UnitedHealth Group (NYSE:UNH) last issued its quarterly earnings results on Thursday, July 18th. The healthcare conglomerate reported $3.60 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.46 by $0.14. UnitedHealth Group had a return on equity of 25.20% and a net margin of 5.51%. The company had revenue of $60.60 billion for the quarter, compared to analysts’ expectations of $60.59 billion. During the same period last year, the firm earned $3.14 EPS. The firm’s revenue for the quarter was up 8.0% on a year-over-year basis. Analysts forecast that UnitedHealth Group Inc will post 14.83 earnings per share for the current year.
The company also recently declared a quarterly dividend, which was paid on Tuesday, September 24th. Stockholders of record on Monday, September 16th were given a dividend of $1.08 per share. This represents a $4.32 annualized dividend and a dividend yield of 2.02%. The ex-dividend date was Friday, September 13th. UnitedHealth Group’s dividend payout ratio (DPR) is presently 33.54%.
In other news, Director William C. Ballard, Jr. sold 12,000 shares of the firm’s stock in a transaction on 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 directly owns 61,309 shares of the company’s stock, valued at approximately $15,652,800.79. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Richard T. Burke sold 2,000 shares of the firm’s stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $231.50, for a total value of $463,000.00. Following the sale, the director now directly owns 187,979 shares of the company’s stock, valued at $43,517,138.50. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 24,000 shares of company stock worth $5,924,120. 0.82% of the stock is owned by insiders.
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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