Summit X LLC Purchases 12,193 Shares of UnitedHealth Group Incorporated $UNH

Summit X LLC raised its holdings in shares of UnitedHealth Group Incorporated (NYSE:UNH) by 428.0% during the second quarter, HoldingsChannel.com reports. The firm owned 15,042 shares of the healthcare conglomerate’s stock after acquiring an additional 12,193 shares during the quarter. UnitedHealth Group makes up 0.9% of Summit X LLC’s portfolio, making the stock its 27th biggest position. Summit X LLC’s holdings in UnitedHealth Group were worth $4,692,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Roberts Glore & Co. Inc. IL acquired a new position in shares of UnitedHealth Group in the 2nd quarter valued at $1,503,000. PFG Advisors boosted its holdings in UnitedHealth Group by 19.9% during the second quarter. PFG Advisors now owns 13,574 shares of the healthcare conglomerate’s stock worth $4,235,000 after buying an additional 2,252 shares during the last quarter. Midwest Trust Co acquired a new stake in shares of UnitedHealth Group in the 2nd quarter valued at approximately $20,941,000. LFA Lugano Financial Advisors SA bought a new stake in UnitedHealth Group in the second quarter valued at approximately $25,000. Finally, Prescott Group Capital Management L.L.C. boosted its position in shares of UnitedHealth Group by 370.5% during the second quarter. Prescott Group Capital Management L.L.C. now owns 5,175 shares of the healthcare conglomerate’s stock worth $1,614,000 after purchasing an additional 4,075 shares in the last quarter. 87.86% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

UNH has been the topic of several recent analyst reports. Barclays lifted their target price on UnitedHealth Group from $352.00 to $386.00 and gave the stock an “overweight” rating in a report on Thursday, October 9th. The Goldman Sachs Group started coverage on shares of UnitedHealth Group in a research report on Tuesday, October 14th. They issued a “buy” rating and a $406.00 price objective on the stock. Leerink Partners set a $410.00 price target on shares of UnitedHealth Group and gave the company an “outperform” rating in a research note on Wednesday, October 29th. Baird R W cut UnitedHealth Group from a “hold” rating to a “strong sell” rating in a research report on Thursday, July 31st. Finally, Royal Bank Of Canada upped their price objective on UnitedHealth Group from $286.00 to $408.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 29th. Eighteen research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat, UnitedHealth Group currently has an average rating of “Moderate Buy” and an average target price of $397.12.

UnitedHealth Group Stock Performance

NYSE UNH opened at $324.29 on Friday. The firm has a 50-day moving average of $345.84 and a 200-day moving average of $322.64. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.85 and a current ratio of 0.82. The stock has a market cap of $293.75 billion, a PE ratio of 16.93, a P/E/G ratio of 2.28 and a beta of 0.47. UnitedHealth Group Incorporated has a 52-week low of $234.60 and a 52-week high of $630.73.

UnitedHealth Group (NYSE:UNH) last posted its earnings results on Tuesday, October 28th. The healthcare conglomerate reported $2.92 EPS for the quarter, beating the consensus estimate of $2.87 by $0.05. The company had revenue of $113.16 billion for the quarter, compared to the consensus estimate of $113.19 billion. UnitedHealth Group had a return on equity of 19.23% and a net margin of 4.04%.The firm’s revenue for the quarter was up 12.2% on a year-over-year basis. During the same quarter in the prior year, the business earned $7.15 earnings per share. On average, sell-side analysts anticipate that UnitedHealth Group Incorporated will post 29.54 EPS for the current year.

UnitedHealth Group Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 16th. Investors of record on Monday, December 8th will be given a dividend of $2.21 per share. This represents a $8.84 dividend on an annualized basis and a yield of 2.7%. The ex-dividend date of this dividend is Monday, December 8th. UnitedHealth Group’s dividend payout ratio (DPR) is currently 46.14%.

UnitedHealth Group Company Profile

UnitedHealth Group Incorporated operates as a diversified health care company in the United States. The company operates through four segments: UnitedHealthcare, Optum Health, Optum Insight, and Optum Rx. 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; Medicaid plans, children's health insurance and health care programs; and health and dental benefits, and hospital and clinical services, as well as health care benefits products and services to state programs caring for the economically disadvantaged, medically underserved, and those without the benefit of employer-funded health care coverage.