Everence Capital Management Inc. acquired a new stake in UnitedHealth Group Incorporated (NYSE:UNH) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 21,200 shares of the healthcare conglomerate’s stock, valued at approximately $7,888,000. UnitedHealth Group comprises about 0.7% of Everence Capital Management Inc.’s portfolio, making the stock its 22nd biggest position.
A number of other hedge funds have also made changes to their positions in the business. Trust Asset Management LLC boosted its position in shares of UnitedHealth Group by 80.8% during the third quarter. Trust Asset Management LLC now owns 4,810 shares of the healthcare conglomerate’s stock worth $1,500,000 after purchasing an additional 2,150 shares in the last quarter. Wealth Alliance boosted its position in shares of UnitedHealth Group by 6.5% during the third quarter. Wealth Alliance now owns 7,371 shares of the healthcare conglomerate’s stock worth $2,298,000 after purchasing an additional 453 shares in the last quarter. Engineers Gate Manager LP boosted its position in shares of UnitedHealth Group by 34.4% during the third quarter. Engineers Gate Manager LP now owns 7,011 shares of the healthcare conglomerate’s stock worth $2,186,000 after purchasing an additional 1,793 shares in the last quarter. ExodusPoint Capital Management LP boosted its position in shares of UnitedHealth Group by 99.7% during the third quarter. ExodusPoint Capital Management LP now owns 8,695 shares of the healthcare conglomerate’s stock worth $2,711,000 after purchasing an additional 4,341 shares in the last quarter. Finally, OLD Mission Capital LLC bought a new position in shares of UnitedHealth Group during the third quarter worth $439,000. 86.03% of the stock is currently owned by hedge funds and other institutional investors.
Several equities research analysts recently commented on the stock. Truist boosted their price objective on shares of UnitedHealth Group from $400.00 to $420.00 in a research report on Tuesday, January 5th. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of UnitedHealth Group from $404.00 to $409.00 and gave the company a “buy” rating in a research report on Thursday, January 21st. Bank of America reaffirmed a “buy” rating and issued a $415.00 price objective on shares of UnitedHealth Group in a research report on Thursday, January 21st. Barclays reiterated a “buy” rating and issued a $405.00 price target on shares of UnitedHealth Group in a research note on Sunday, January 17th. Finally, SVB Leerink increased their price objective on shares of UnitedHealth Group from $378.00 to $390.00 and gave the stock an “outperform” rating in a research note on Monday, December 14th. Five analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus target price of $387.82.
UnitedHealth Group (NYSE:UNH) last issued its quarterly earnings data on Tuesday, January 19th. The healthcare conglomerate reported $2.52 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $2.39 by $0.13. The firm had revenue of $65.47 billion during the quarter, compared to the consensus estimate of $64.98 billion. UnitedHealth Group had a net margin of 6.62% and a return on equity of 27.53%. The business’s revenue for the quarter was up 7.5% compared to the same quarter last year. During the same period last year, the business posted $3.90 earnings per share. Equities research analysts expect that UnitedHealth Group Incorporated will post 16.75 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 23rd. Shareholders of record on Monday, March 15th were given a dividend of $1.25 per share. The ex-dividend date of this dividend was Friday, March 12th. This represents a $5.00 annualized dividend and a yield of 1.37%. UnitedHealth Group’s dividend payout ratio (DPR) is presently 33.09%.
In other news, CAO Thomas E. Roos sold 619 shares of the firm’s stock in a transaction that occurred on Tuesday, February 9th. The shares were sold at an average price of $323.90, for a total transaction of $200,494.10. Following the transaction, the chief accounting officer now directly owns 31,908 shares of the company’s stock, valued at $10,335,001.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Richard T. Burke sold 5,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 11th. The stock was sold at an average price of $335.80, for a total transaction of $1,679,000.00. Following the transaction, the director now directly owns 153,953 shares in the company, valued at $51,697,417.40. The disclosure for this sale can be found here. Insiders have sold 9,619 shares of company stock worth $3,292,774 over the last ninety days. Insiders own 0.80% of the company’s stock.
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; Medicaid plans, Children's Health Insurance Program, and health care programs; medical and dental benefits; and health care delivery.
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