Malaga Cove Capital LLC Buys New Holdings in UnitedHealth Group Inc (UNH)

Malaga Cove Capital LLC bought a new position in shares of UnitedHealth Group Inc (NYSE:UNH) during the first quarter, Holdings Channel reports. The fund bought 2,423 shares of the healthcare conglomerate’s stock, valued at approximately $599,000.

A number of other institutional investors and hedge funds have also bought and sold shares of UNH. Bell Asset Management Ltd boosted its stake in shares of UnitedHealth Group by 25.4% in the 1st quarter. Bell Asset Management Ltd now owns 71,798 shares of the healthcare conglomerate’s stock valued at $17,753,000 after purchasing an additional 14,547 shares during the last quarter. Randolph Co Inc boosted its stake in shares of UnitedHealth Group by 0.5% in the 1st quarter. Randolph Co Inc now owns 70,020 shares of the healthcare conglomerate’s stock valued at $17,313,000 after purchasing an additional 370 shares during the last quarter. Gofen & Glossberg LLC IL boosted its stake in shares of UnitedHealth Group by 7.8% in the 1st quarter. Gofen & Glossberg LLC IL now owns 4,635 shares of the healthcare conglomerate’s stock valued at $1,146,000 after purchasing an additional 337 shares during the last quarter. Webster Bank N. A. boosted its stake in shares of UnitedHealth Group by 10.6% in the 1st quarter. Webster Bank N. A. now owns 834 shares of the healthcare conglomerate’s stock valued at $206,000 after purchasing an additional 80 shares during the last quarter. Finally, Pacer Advisors Inc. bought a new stake in shares of UnitedHealth Group in the 1st quarter valued at $21,245,000. 87.29% of the stock is currently owned by hedge funds and other institutional investors.

Shares of NYSE UNH opened at $241.38 on Friday. The firm has a market cap of $229.39 billion, a P/E ratio of 18.74, a P/E/G ratio of 1.26 and a beta of 0.74. UnitedHealth Group Inc has a 12-month low of $208.07 and a 12-month high of $287.94. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.73 and a current ratio of 0.73.

UnitedHealth Group (NYSE:UNH) last issued its earnings results on Tuesday, April 16th. The healthcare conglomerate reported $3.73 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $3.60 by $0.13. The business had revenue of $60.30 billion for the quarter, compared to analyst estimates of $59.72 billion. UnitedHealth Group had a net margin of 5.45% and a return on equity of 25.07%. UnitedHealth Group’s revenue was up 9.2% on a year-over-year basis. During the same period in the prior year, the firm earned $3.04 earnings per share. Equities research analysts predict that UnitedHealth Group Inc will post 14.7 earnings per share for the current fiscal year.

In other UnitedHealth Group news, Director Richard T. Burke sold 5,000 shares of the company’s stock in a transaction on Tuesday, March 12th. The shares were sold at an average price of $245.01, for a total transaction of $1,225,050.00. Following the transaction, the director now owns 182,372 shares in the company, valued at $44,682,963.72. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Richard T. Burke sold 10,000 shares of the company’s stock in a transaction on Wednesday, April 24th. The stock was sold at an average price of $229.75, for a total transaction of $2,297,500.00. Following the transaction, the director now owns 187,663 shares in the company, valued at approximately $43,115,574.25. The disclosure for this sale can be found here. Over the last three months, insiders have sold 27,930 shares of company stock worth $6,746,683. 0.87% of the stock is owned by insiders.

UNH has been the topic of a number of analyst reports. Zacks Investment Research raised shares of UnitedHealth Group from a “hold” rating to a “buy” rating and set a $265.00 price objective on the stock in a research note on Friday. Citigroup raised shares of UnitedHealth Group from a “neutral” rating to a “buy” rating and upped their price objective for the company from $247.00 to $280.00 in a research note on Friday, May 10th. Raymond James reduced their price objective on shares of UnitedHealth Group from $310.00 to $265.00 and set a “strong-buy” rating on the stock in a research note on Wednesday, April 17th. Bank of America reaffirmed a “buy” rating and issued a $290.00 price objective (down from $320.00) on shares of UnitedHealth Group in a research note on Wednesday, April 17th. Finally, Morgan Stanley reduced their price objective on shares of UnitedHealth Group from $315.00 to $285.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 17th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating, nineteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus price target of $290.84.

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About UnitedHealth Group

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

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