OppenheimerFunds Inc. boosted its stake in shares of UnitedHealth Group Inc (NYSE:UNH) by 19.5% during the 1st quarter, according to its most recent filing with the SEC. The firm owned 3,731,116 shares of the healthcare conglomerate’s stock after purchasing an additional 609,058 shares during the period. UnitedHealth Group makes up approximately 1.0% of OppenheimerFunds Inc.’s portfolio, making the stock its 11th biggest holding. OppenheimerFunds Inc. owned 0.39% of UnitedHealth Group worth $798,458,000 as of its most recent filing with the SEC.
A number of other institutional investors and hedge funds also recently made changes to their positions in UNH. Toronto Dominion Bank lifted its stake in UnitedHealth Group by 12.6% in the 4th quarter. Toronto Dominion Bank now owns 432,508 shares of the healthcare conglomerate’s stock valued at $95,350,000 after buying an additional 48,565 shares in the last quarter. GWM Advisors LLC lifted its stake in UnitedHealth Group by 20.3% in the 4th quarter. GWM Advisors LLC now owns 9,297 shares of the healthcare conglomerate’s stock worth $2,090,000 after purchasing an additional 1,571 shares in the last quarter. Global Financial Private Capital LLC lifted its stake in UnitedHealth Group by 13.7% in the 4th quarter. Global Financial Private Capital LLC now owns 18,386 shares of the healthcare conglomerate’s stock worth $4,053,000 after purchasing an additional 2,212 shares in the last quarter. Intact Investment Management Inc. lifted its stake in UnitedHealth Group by 87.5% in the 1st quarter. Intact Investment Management Inc. now owns 3,000 shares of the healthcare conglomerate’s stock worth $659,000 after purchasing an additional 1,400 shares in the last quarter. Finally, Berkshire Asset Management LLC PA lifted its stake in UnitedHealth Group by 16.2% in the 1st quarter. Berkshire Asset Management LLC PA now owns 11,693 shares of the healthcare conglomerate’s stock worth $2,502,000 after purchasing an additional 1,628 shares in the last quarter. 84.85% of the stock is currently owned by institutional investors.
A number of research firms have weighed in on UNH. Sanford C. Bernstein set a $275.00 target price on shares of UnitedHealth Group and gave the stock a “buy” rating in a research note on Wednesday, April 18th. Zacks Investment Research lowered shares of UnitedHealth Group from a “buy” rating to a “hold” rating in a research report on Tuesday, June 19th. BMO Capital Markets lifted their price target on shares of UnitedHealth Group from $285.00 to $300.00 and gave the company a “positive” rating in a research report on Thursday. Oppenheimer lifted their target price on shares of UnitedHealth Group from $260.00 to $276.00 and gave the company an “outperform” rating in a report on Wednesday, April 18th. Finally, Piper Jaffray Companies reiterated a “buy” rating and issued a $270.00 target price on shares of UnitedHealth Group in a report on Wednesday, April 18th. One analyst has rated the stock with a hold rating and twenty-seven have issued a buy rating to the company. UnitedHealth Group currently has a consensus rating of “Buy” and a consensus price target of $259.88.
Shares of NYSE:UNH traded up $2.48 on Friday, reaching $254.37. The company’s stock had a trading volume of 2,743,131 shares, compared to its average volume of 2,404,858. UnitedHealth Group Inc has a 52-week low of $183.39 and a 52-week high of $256.73. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.71 and a current ratio of 0.71. The stock has a market capitalization of $242.06 billion, a price-to-earnings ratio of 25.26, a PEG ratio of 1.45 and a beta of 0.74.
UnitedHealth Group (NYSE:UNH) last issued its quarterly earnings results on Tuesday, April 17th. The healthcare conglomerate reported $3.04 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.91 by $0.13. UnitedHealth Group had a net margin of 5.41% and a return on equity of 22.06%. The business had revenue of $55.19 billion for the quarter, compared to analyst estimates of $54.90 billion. During the same period in the previous year, the business posted $2.37 earnings per share. The business’s revenue was up 13.3% compared to the same quarter last year. research analysts forecast that UnitedHealth Group Inc will post 12.62 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 26th. Stockholders of record on Monday, June 18th will be paid a dividend of $0.90 per share. This represents a $3.60 dividend on an annualized basis and a dividend yield of 1.42%. This is a positive change from UnitedHealth Group’s previous quarterly dividend of $0.75. The ex-dividend date is Friday, June 15th. UnitedHealth Group’s payout ratio is 35.75%.
UnitedHealth Group announced that its board has approved a stock repurchase plan on Wednesday, June 6th that allows the company to repurchase 100,000,000 outstanding shares. This repurchase authorization allows the healthcare conglomerate to purchase shares of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s board of directors believes its shares are undervalued.
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 care coverage, and 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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