Wetherby Asset Management Inc. grew its stake in shares of UnitedHealth Group Inc (NYSE:UNH) by 18.7% in the second quarter, according to the company in its most recent filing with the SEC. The firm owned 21,977 shares of the healthcare conglomerate’s stock after acquiring an additional 3,455 shares during the quarter. UnitedHealth Group comprises about 0.6% of Wetherby Asset Management Inc.’s portfolio, making the stock its 26th biggest holding. Wetherby Asset Management Inc.’s holdings in UnitedHealth Group were worth $5,363,000 as of its most recent filing with the SEC.
Other large investors also recently added to or reduced their stakes in the company. FMR LLC lifted its position in shares of UnitedHealth Group by 1.9% during the 4th quarter. FMR LLC now owns 64,480,003 shares of the healthcare conglomerate’s stock worth $16,063,258,000 after buying an additional 1,232,189 shares during the last quarter. Northern Trust Corp lifted its position in shares of UnitedHealth Group by 2.5% during the 4th quarter. Northern Trust Corp now owns 11,669,246 shares of the healthcare conglomerate’s stock worth $2,907,043,000 after buying an additional 288,199 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of UnitedHealth Group by 9.1% during the 4th quarter. Geode Capital Management LLC now owns 11,593,401 shares of the healthcare conglomerate’s stock worth $2,882,988,000 after buying an additional 965,763 shares during the last quarter. Norges Bank bought a new stake in shares of UnitedHealth Group during the 4th quarter worth $2,343,175,000. Finally, American Century Companies Inc. lifted its position in shares of UnitedHealth Group by 12.8% during the 4th quarter. American Century Companies Inc. now owns 5,678,706 shares of the healthcare conglomerate’s stock worth $1,414,679,000 after buying an additional 644,872 shares during the last quarter. Hedge funds and other institutional investors own 85.87% of the company’s stock.
In related news, Director William C. Ballard, Jr. sold 12,000 shares of the company’s stock in a transaction dated Tuesday, July 23rd. The stock was sold at an average price of $255.31, for a total transaction of $3,063,720.00. Following the sale, the director now owns 61,309 shares in the company, valued at approximately $15,652,800.79. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Richard T. Burke sold 10,000 shares of the company’s stock in a transaction dated Tuesday, June 11th. The shares were sold at an average price of $248.00, for a total value of $2,480,000.00. Following the sale, the director now owns 187,663 shares in the company, valued at approximately $46,540,424. The disclosure for this sale can be found here. In the last three months, insiders sold 32,000 shares of company stock valued at $7,963,620. Insiders own 0.82% of the company’s stock.
UnitedHealth Group (NYSE:UNH) last issued its quarterly earnings results on Thursday, July 18th. The healthcare conglomerate reported $3.60 earnings per share for the quarter, beating the consensus estimate of $3.46 by $0.14. The company had revenue of $60.60 billion during the quarter, compared to analysts’ expectations of $60.59 billion. UnitedHealth Group had a return on equity of 25.20% and a net margin of 5.51%. The business’s quarterly revenue was up 8.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $3.14 earnings per share. As a group, analysts predict that UnitedHealth Group Inc will post 14.82 EPS for the current fiscal year.
Several analysts recently weighed in on UNH shares. Zacks Investment Research upgraded UnitedHealth Group from a “sell” rating to a “buy” rating and set a $269.00 price objective for the company in a research report on Monday, July 22nd. Cantor Fitzgerald set a $310.00 price objective on UnitedHealth Group and gave the stock a “buy” rating in a research report on Friday, July 19th. UBS Group started coverage on UnitedHealth Group in a research report on Tuesday, April 23rd. They set a “neutral” rating and a $238.00 price objective for the company. SunTrust Banks dropped their price objective on UnitedHealth Group to $300.00 and set a “buy” rating for the company in a research report on Wednesday, April 17th. They noted that the move was a valuation call. Finally, Morgan Stanley upped their price objective on UnitedHealth Group from $285.00 to $298.00 and gave the stock an “overweight” rating in a research report on Friday, July 12th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and eighteen have given a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus target price of $295.06.
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 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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