First Western Capital Management Co Reduces Position in UnitedHealth Group Inc (UNH)
First Western Capital Management Co lessened its stake in UnitedHealth Group Inc (NYSE:UNH) by 26.7% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 865 shares of the healthcare conglomerate’s stock after selling 315 shares during the period. First Western Capital Management Co’s holdings in UnitedHealth Group were worth $212,000 at the end of the most recent quarter.
Other institutional investors also recently bought and sold shares of the company. Ballentine Partners LLC raised its holdings in shares of UnitedHealth Group by 2.3% in the second quarter. Ballentine Partners LLC now owns 9,038 shares of the healthcare conglomerate’s stock valued at $2,218,000 after buying an additional 202 shares during the last quarter. Nikulski Financial Inc. increased its stake in shares of UnitedHealth Group by 1.8% during the second quarter. Nikulski Financial Inc. now owns 11,759 shares of the healthcare conglomerate’s stock worth $2,885,000 after acquiring an additional 205 shares during the period. Trustcore Financial Services LLC increased its stake in shares of UnitedHealth Group by 34.1% during the second quarter. Trustcore Financial Services LLC now owns 810 shares of the healthcare conglomerate’s stock worth $199,000 after acquiring an additional 206 shares during the period. Lara May & Associates LLC increased its stake in shares of UnitedHealth Group by 22.2% during the first quarter. Lara May & Associates LLC now owns 1,146 shares of the healthcare conglomerate’s stock worth $246,000 after acquiring an additional 208 shares during the period. Finally, Liberty Capital Management Inc. increased its stake in shares of UnitedHealth Group by 1.3% during the second quarter. Liberty Capital Management Inc. now owns 15,739 shares of the healthcare conglomerate’s stock worth $3,861,000 after acquiring an additional 209 shares during the period. Hedge funds and other institutional investors own 85.35% of the company’s stock.
Several research analysts have weighed in on the stock. Zacks Investment Research lowered shares of UnitedHealth Group from a “buy” rating to a “hold” rating in a research report on Tuesday, June 19th. Barclays upped their price target on shares of UnitedHealth Group from $265.00 to $280.00 and gave the company an “overweight” rating in a report on Friday. Cantor Fitzgerald reaffirmed a “buy” rating and issued a $300.00 price target on shares of UnitedHealth Group in a report on Thursday, July 5th. Jefferies Financial Group upped their price target on shares of UnitedHealth Group from $270.00 to $311.00 and gave the company a “buy” rating in a report on Wednesday, October 3rd. Finally, BMO Capital Markets upped their price objective on shares of UnitedHealth Group from $285.00 to $300.00 and gave the company a “positive” rating in a research note on Thursday, June 21st. One research analyst has rated the stock with a hold rating, twenty-two have given a buy rating and one has assigned a strong buy rating to the stock. UnitedHealth Group currently has an average rating of “Buy” and an average target price of $279.26.
UnitedHealth Group (NYSE:UNH) last released its quarterly earnings results on Tuesday, July 17th. The healthcare conglomerate reported $3.14 earnings per share for the quarter, beating the Zacks’ consensus estimate of $3.04 by $0.10. The business had revenue of $56.09 billion during the quarter, compared to analyst estimates of $56.10 billion. UnitedHealth Group had a net margin of 5.55% and a return on equity of 22.79%. The business’s revenue was up 12.1% on a year-over-year basis. During the same period last year, the business earned $2.46 EPS. On average, research analysts expect that UnitedHealth Group Inc will post 12.72 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Tuesday, September 18th. Investors of record on Friday, September 7th were issued a dividend of $0.90 per share. This represents a $3.60 dividend on an annualized basis and a yield of 1.39%. The ex-dividend date of this dividend was Thursday, September 6th. UnitedHealth Group’s payout ratio is 35.75%.
In other news, Director William C. Ballard, Jr. sold 10,000 shares of the firm’s stock in a transaction dated Wednesday, August 8th. The shares were sold at an average price of $258.83, for a total value of $2,588,300.00. Following the transaction, the director now directly owns 77,172 shares in the company, valued at approximately $19,974,428.76. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP D Ellen Wilson sold 15,393 shares of the firm’s stock in a transaction dated Friday, August 24th. The stock was sold at an average price of $264.29, for a total transaction of $4,068,215.97. Following the completion of the transaction, the executive vice president now owns 66,402 shares in the company, valued at $17,549,384.58. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 94,745 shares of company stock valued at $24,995,290. Company insiders own 0.87% of the company’s stock.
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 care coverage, and 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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