Congress Asset Management Co. MA lessened its holdings in shares of UnitedHealth Group Inc (NYSE:UNH) by 4.4% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 308,160 shares of the healthcare conglomerate’s stock after selling 14,023 shares during the period. Congress Asset Management Co. MA’s holdings in UnitedHealth Group were worth $81,983,000 at the end of the most recent quarter.
Several other large investors have also added to or reduced their stakes in the company. Welch Group LLC acquired a new stake in UnitedHealth Group in the 2nd quarter valued at approximately $106,000. Blue Chip Partners Inc. acquired a new stake in UnitedHealth Group in the 2nd quarter valued at approximately $107,000. Polaris Greystone Financial Group LLC acquired a new stake in UnitedHealth Group in the 3rd quarter valued at approximately $120,000. Northwest Wealth Management LLC acquired a new stake in UnitedHealth Group in the 2nd quarter valued at approximately $117,000. Finally, Fort L.P. acquired a new stake in UnitedHealth Group in the 2nd quarter valued at approximately $119,000. Institutional investors and hedge funds own 85.44% of the company’s stock.
NYSE:UNH opened at $261.35 on Thursday. The company has a market cap of $248.49 billion, a price-to-earnings ratio of 25.95, a P/E/G ratio of 1.48 and a beta of 0.73. UnitedHealth Group Inc has a twelve month low of $207.80 and a twelve month high of $272.81. The company has a current ratio of 0.69, a quick ratio of 0.75 and a debt-to-equity ratio of 0.61.
In other news, EVP D Ellen Wilson sold 15,393 shares of UnitedHealth Group stock in a transaction that occurred on Friday, August 24th. The stock was sold at an average price of $264.29, for a total transaction of $4,068,215.97. Following the completion of the transaction, the executive vice president now directly owns 66,402 shares in the company, valued at approximately $17,549,384.58. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director William C. Ballard, Jr. sold 10,000 shares of UnitedHealth Group stock in a transaction that occurred on Wednesday, August 8th. The stock was sold at an average price of $258.83, for a total value of $2,588,300.00. Following the transaction, the director now owns 77,172 shares of the company’s stock, valued at $19,974,428.76. The disclosure for this sale can be found here. Insiders have sold a total of 79,568 shares of company stock valued at $21,128,177 over the last quarter. 0.87% of the stock is currently owned by corporate insiders.
A number of brokerages recently issued reports on UNH. BMO Capital Markets lifted their target price on UnitedHealth Group to $310.00 and gave the company an “outperform” rating in a research report on Thursday, October 18th. Goldman Sachs Group reissued a “buy” rating and issued a $277.00 target price on shares of UnitedHealth Group in a research report on Tuesday, July 17th. Piper Jaffray Companies lifted their target price on UnitedHealth Group to $300.00 and gave the company an “overweight” rating in a research report on Wednesday, October 17th. Royal Bank of Canada lifted their target price on UnitedHealth Group from $282.00 to $284.00 and gave the company a “$255.42” rating in a research report on Wednesday, July 18th. Finally, Raymond James lifted their target price on UnitedHealth Group from $304.00 to $310.00 and gave the company a “strong-buy” rating in a research report on Wednesday, October 17th. One research analyst has rated the stock with a hold rating, twenty-two have given a buy rating and one has assigned a strong buy rating to the company. UnitedHealth Group presently has an average rating of “Buy” and a consensus target price of $289.41.
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 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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