State Treasurer State of Michigan trimmed its holdings in UnitedHealth Group Inc (NYSE:UNH) by 14.2% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 295,513 shares of the healthcare conglomerate’s stock after selling 49,000 shares during the quarter. State Treasurer State of Michigan’s holdings in UnitedHealth Group were worth $72,108,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other institutional investors have also modified their holdings of the stock. Canton Hathaway LLC bought a new stake in UnitedHealth Group during the 1st quarter valued at about $36,000. Truvestments Capital LLC bought a new stake in UnitedHealth Group during the 1st quarter valued at about $42,000. Creative Financial Designs Inc. ADV increased its stake in UnitedHealth Group by 89.6% during the 1st quarter. Creative Financial Designs Inc. ADV now owns 201 shares of the healthcare conglomerate’s stock valued at $50,000 after purchasing an additional 95 shares in the last quarter. Financial Gravity Wealth Inc. bought a new stake in UnitedHealth Group during the 1st quarter valued at about $58,000. Finally, Horan Capital Advisors LLC. bought a new stake in UnitedHealth Group during the 1st quarter valued at about $68,000. Institutional investors own 85.87% of the company’s stock.
Shares of UNH traded down $4.21 on Wednesday, reaching $244.07. The company’s stock had a trading volume of 1,556,020 shares, compared to its average volume of 3,766,270. The company has a quick ratio of 0.73, a current ratio of 0.67 and a debt-to-equity ratio of 0.62. The stock has a market capitalization of $237.63 billion, a PE ratio of 18.95, a P/E/G ratio of 1.33 and a beta of 0.61. The company’s 50 day moving average price is $251.75. UnitedHealth Group Inc has a 12-month low of $208.07 and a 12-month high of $287.94.
In other UnitedHealth Group news, Director William C. Ballard, Jr. sold 12,000 shares of UnitedHealth Group stock in a transaction that occurred on Tuesday, July 23rd. The shares were sold at an average price of $255.31, for a total transaction of $3,063,720.00. Following the transaction, the director now owns 61,309 shares of the company’s stock, valued at $15,652,800.79. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Richard T. Burke sold 10,000 shares of UnitedHealth Group stock in a transaction that occurred on Tuesday, June 11th. The shares were sold at an average price of $248.00, for a total transaction of $2,480,000.00. Following the transaction, the director now directly 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 worth $7,963,620. 0.82% of the stock is currently owned by insiders.
A number of analysts have weighed in on the stock. UBS Group assumed coverage on shares of UnitedHealth Group in a research note on Tuesday, April 23rd. They set a “neutral” rating and a $238.00 price objective for the company. Oppenheimer set a $312.00 price target on shares of UnitedHealth Group and gave the company a “buy” rating in a report on Friday, July 19th. Bank of America reaffirmed a “buy” rating and set a $290.00 price target (down previously from $320.00) on shares of UnitedHealth Group in a report on Wednesday, April 17th. Zacks Investment Research raised shares of UnitedHealth Group from a “sell” rating to a “buy” rating and set a $269.00 price target on the stock in a report on Monday, July 22nd. Finally, Cantor Fitzgerald set a $310.00 price target on shares of UnitedHealth Group and gave the company a “buy” rating in a report on Friday, July 19th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and eighteen have given a buy rating to the company. The stock has an average rating of “Buy” and an average 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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