Aviance Capital Management LLC lessened its stake in UnitedHealth Group Inc (NYSE:UNH) by 16.3% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,174 shares of the healthcare conglomerate’s stock after selling 424 shares during the quarter. Aviance Capital Management LLC’s holdings in UnitedHealth Group were worth $533,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds also recently made changes to their positions in the business. Welch Group LLC acquired a new position in shares of UnitedHealth Group during the 2nd quarter valued at $106,000. Blue Chip Partners Inc. purchased a new stake in UnitedHealth Group during the 2nd quarter worth $107,000. Bamco Inc. NY purchased a new stake in UnitedHealth Group during the 1st quarter worth $117,000. Northwest Wealth Management LLC purchased a new stake in UnitedHealth Group during the 2nd quarter worth $117,000. Finally, Bruderman Asset Management LLC purchased a new stake in UnitedHealth Group during the 1st quarter worth $134,000. Institutional investors own 85.39% of the company’s stock.
In other news, Director Richard T. Burke sold 20,000 shares of the business’s stock in a transaction dated Wednesday, September 12th. The shares were sold at an average price of $263.41, for a total value of $5,268,200.00. Following the completion of the sale, the director now owns 1,720,112 shares of the company’s stock, valued at approximately $453,094,701.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Kenneth Irwin Shine sold 177 shares of the business’s stock in a transaction dated Wednesday, July 18th. The stock was sold at an average price of $255.72, for a total transaction of $45,262.44. Following the completion of the sale, the director now directly owns 29,053 shares of the company’s stock, valued at approximately $7,429,433.16. The disclosure for this sale can be found here. Insiders sold a total of 86,603 shares of company stock valued at $22,837,660 in the last three months. Insiders own 0.87% of the company’s stock.
UnitedHealth Group (NYSE:UNH) last released its earnings results on Tuesday, July 17th. The healthcare conglomerate reported $3.14 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $3.04 by $0.10. The company had revenue of $56.09 billion during the quarter, compared to the consensus estimate of $56.10 billion. UnitedHealth Group had a net margin of 5.55% and a return on equity of 22.79%. The company’s revenue was up 12.1% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.46 EPS. equities analysts expect that UnitedHealth Group Inc will post 12.72 EPS for the current year.
UnitedHealth Group announced that its board has authorized a stock buyback program on Wednesday, June 6th that authorizes the company to repurchase 100,000,000 shares. This repurchase authorization authorizes the healthcare conglomerate to reacquire shares of its stock through open market purchases. Shares repurchase programs are often a sign that the company’s board believes its shares are undervalued.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 18th. Stockholders of record on Friday, September 7th will be given a $0.90 dividend. This represents a $3.60 annualized dividend and a dividend yield of 1.36%. The ex-dividend date is Thursday, September 6th. UnitedHealth Group’s payout ratio is currently 35.75%.
Several equities research analysts recently issued reports on UNH shares. Zacks Investment Research raised shares of UnitedHealth Group from a “hold” rating to a “buy” rating and set a $278.00 price target on the stock in a research note on Wednesday, May 23rd. BMO Capital Markets lifted their price target on shares of UnitedHealth Group from $275.00 to $285.00 and gave the stock a “buy” rating in a research note on Thursday, June 7th. SunTrust Banks started coverage on shares of UnitedHealth Group in a research note on Monday, June 11th. They set a “buy” rating and a $300.00 price target on the stock. Cantor Fitzgerald reaffirmed a “buy” rating and set a $300.00 price target on shares of UnitedHealth Group in a research note on Thursday, July 5th. Finally, Goldman Sachs Group reaffirmed a “buy” rating and set a $277.00 price target on shares of UnitedHealth Group in a research note on Tuesday, July 17th. Two research analysts have rated the stock with a hold rating and twenty-one have assigned a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price of $272.43.
UnitedHealth Group Company 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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