Wedge Capital Management L L P NC trimmed its stake in UnitedHealth Group Inc (NYSE:UNH) by 13.4% during the third quarter, according to its most recent 13F filing with the SEC. The firm owned 45,306 shares of the healthcare conglomerate’s stock after selling 7,003 shares during the period. Wedge Capital Management L L P NC’s holdings in UnitedHealth Group were worth $12,053,000 as of its most recent filing with the SEC.
Other institutional investors also recently added to or reduced their stakes in the company. White Lighthouse Investment Management Inc. purchased a new stake in shares of UnitedHealth Group in the 2nd quarter valued at approximately $324,000. Wells Fargo & Company MN raised its stake in shares of UnitedHealth Group by 0.5% in the 2nd quarter. Wells Fargo & Company MN now owns 7,692,899 shares of the healthcare conglomerate’s stock valued at $1,887,377,000 after acquiring an additional 39,480 shares during the period. Sawtooth Solutions LLC raised its stake in shares of UnitedHealth Group by 34.4% in the 3rd quarter. Sawtooth Solutions LLC now owns 4,413 shares of the healthcare conglomerate’s stock valued at $1,174,000 after acquiring an additional 1,129 shares during the period. Page Arthur B purchased a new stake in shares of UnitedHealth Group in the 3rd quarter valued at approximately $1,026,000. Finally, Granite Investment Advisors LLC raised its stake in shares of UnitedHealth Group by 1.4% in the 2nd quarter. Granite Investment Advisors LLC now owns 34,225 shares of the healthcare conglomerate’s stock valued at $8,397,000 after acquiring an additional 476 shares during the period. 85.43% of the stock is currently owned by institutional investors and hedge funds.
NYSE UNH opened at $276.55 on Friday. The company has a quick ratio of 0.75, a current ratio of 0.69 and a debt-to-equity ratio of 0.61. UnitedHealth Group Inc has a 52 week low of $208.48 and a 52 week high of $278.00. The company has a market cap of $264.32 billion, a price-to-earnings ratio of 22.55, a PEG ratio of 1.58 and a beta of 0.78.
The company also recently declared a quarterly dividend, which will be paid on Thursday, December 13th. Shareholders of record on Monday, December 3rd will be issued a dividend of $0.90 per share. This represents a $3.60 annualized dividend and a yield of 1.30%. UnitedHealth Group’s dividend payout ratio (DPR) is presently 35.75%.
In other UnitedHealth Group news, CEO Steven H. Nelson sold 8,142 shares of the business’s stock in a transaction that occurred on Thursday, September 13th. The shares were sold at an average price of $265.00, for a total transaction of $2,157,630.00. Following the completion of the transaction, the chief executive officer now owns 22,496 shares in the company, valued at approximately $5,961,440. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Richard T. Burke sold 20,000 shares of the business’s stock in a transaction that occurred on Wednesday, September 12th. The stock was sold at an average price of $263.41, for a total transaction of $5,268,200.00. Following the transaction, the director now owns 1,720,112 shares of the company’s stock, valued at approximately $453,094,701.92. The disclosure for this sale can be found here. Insiders have sold a total of 69,568 shares of company stock valued at $18,539,877 in the last quarter. 0.87% of the stock is currently owned by company insiders.
A number of equities research analysts have recently issued reports on UNH shares. Citigroup downgraded shares of UnitedHealth Group from a “buy” rating to a “neutral” rating and set a $288.00 price target on the stock. in a research note on Monday, September 10th. Raymond James boosted their price target on shares of UnitedHealth Group from $285.00 to $304.00 and gave the company a “strong-buy” rating in a research note on Monday, September 24th. Zacks Investment Research downgraded shares of UnitedHealth Group from a “buy” rating to a “hold” rating in a research note on Tuesday, September 18th. Morgan Stanley boosted their price target on shares of UnitedHealth Group from $278.00 to $305.00 and gave the company an “overweight” rating in a research note on Wednesday, September 5th. Finally, Bank of America upped their target price on shares of UnitedHealth Group from $315.00 to $320.00 and gave the stock a “buy” rating in a research note on Wednesday, October 17th. One research analyst has rated the stock with a hold rating, twenty-two have assigned a buy rating and one has assigned a strong buy rating to the company. The stock has an average rating of “Buy” and a consensus target price of $289.41.
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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.
See Also: Outstanding Shares
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