Westpac Banking Corp Has $120.94 Million Stake in UnitedHealth Group Incorporated (NYSE:UNH)

Westpac Banking Corp grew its holdings in shares of UnitedHealth Group Incorporated (NYSE:UNH) by 13.0% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 302,026 shares of the healthcare conglomerate’s stock after acquiring an additional 34,708 shares during the quarter. UnitedHealth Group comprises 1.2% of Westpac Banking Corp’s investment portfolio, making the stock its 7th largest position. Westpac Banking Corp’s holdings in UnitedHealth Group were worth $120,943,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in UNH. Anfield Capital Management LLC purchased a new position in UnitedHealth Group in the 2nd quarter worth approximately $26,000. Lake Point Wealth Management purchased a new position in UnitedHealth Group in the 2nd quarter worth approximately $40,000. Selective Wealth Management Inc. increased its stake in UnitedHealth Group by 535.3% in the 2nd quarter. Selective Wealth Management Inc. now owns 108 shares of the healthcare conglomerate’s stock worth $43,000 after purchasing an additional 91 shares during the period. Harbour Investments Inc. purchased a new position in UnitedHealth Group in the 1st quarter worth approximately $41,000. Finally, Isthmus Partners LLC purchased a new position in shares of UnitedHealth Group during the second quarter valued at approximately $48,000. Institutional investors own 86.21% of the company’s stock.

Several equities analysts have recently issued reports on UNH shares. Deutsche Bank Aktiengesellschaft boosted their target price on UnitedHealth Group from $418.00 to $421.00 and gave the company a “buy” rating in a research note on Tuesday, July 13th. Bank of America upped their price target on UnitedHealth Group from $450.00 to $522.00 and gave the stock a “buy” rating in a research note on Tuesday, June 1st. Seaport Res Ptn reaffirmed a “buy” rating on shares of UnitedHealth Group in a research note on Friday, July 9th. Oppenheimer reaffirmed a “buy” rating and issued a $440.00 price target on shares of UnitedHealth Group in a research note on Thursday, July 15th. Finally, Morgan Stanley reduced their price target on UnitedHealth Group from $515.00 to $488.00 and set an “overweight” rating on the stock in a research note on Tuesday, August 31st. Three research analysts have rated the stock with a hold rating, twenty have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, UnitedHealth Group currently has an average rating of “Buy” and a consensus price target of $444.04.

In related news, Director Stephen J. Hemsley sold 60,000 shares of the firm’s stock in a transaction that occurred on Friday, July 16th. The stock was sold at an average price of $420.62, for a total transaction of $25,237,200.00. Following the completion of the sale, the director now directly owns 941,560 shares of the company’s stock, valued at approximately $396,038,967.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Andrew Witty sold 6,000 shares of the firm’s stock in a transaction that occurred on Wednesday, July 21st. The stock was sold at an average price of $414.15, for a total value of $2,484,900.00. The disclosure for this sale can be found here. In the last 90 days, insiders sold 102,938 shares of company stock valued at $42,943,909. Company insiders own 0.55% of the company’s stock.

UNH stock traded up $3.13 during trading on Friday, reaching $419.97. The stock had a trading volume of 80,257 shares, compared to its average volume of 2,980,569. UnitedHealth Group Incorporated has a 52 week low of $289.64 and a 52 week high of $431.36. The stock’s 50 day moving average is $416.41 and its two-hundred day moving average is $398.55. The company has a current ratio of 0.77, a quick ratio of 0.77 and a debt-to-equity ratio of 0.62. The firm has a market cap of $396.00 billion, a PE ratio of 27.53, a PEG ratio of 1.62 and a beta of 0.77.

UnitedHealth Group (NYSE:UNH) last issued its quarterly earnings results on Wednesday, July 14th. The healthcare conglomerate reported $4.70 EPS for the quarter, topping analysts’ consensus estimates of $4.43 by $0.27. The business had revenue of $71.32 billion during the quarter, compared to analysts’ expectations of $69.51 billion. UnitedHealth Group had a return on equity of 22.15% and a net margin of 5.33%. The business’s quarterly revenue was up 14.8% on a year-over-year basis. During the same quarter in the prior year, the business posted $7.12 earnings per share. On average, research analysts anticipate that UnitedHealth Group Incorporated will post 18.74 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 21st. Shareholders of record on Monday, September 13th will be given a $1.45 dividend. This represents a $5.80 dividend on an annualized basis and a yield of 1.38%. The ex-dividend date is Friday, September 10th. UnitedHealth Group’s payout ratio is 34.36%.

UnitedHealth Group Profile

UnitedHealth Group, Inc engages in the provision of health care coverage, software, and data consultancy services. It operates through the following segments: UnitedHealthcare, OptumHealth, OptumInsight, and OptumRx. The UnitedHealthcare segment utilizes Optum’s capabilities to help coordinate patient care, improve affordability of medical care, analyze cost trends, manage pharmacy benefits, work with care providers more effectively, and create a simpler consumer experience.

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Institutional Ownership by Quarter for UnitedHealth Group (NYSE:UNH)

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