Field & Main Bank bought a new stake in UnitedHealth Group Inc (NYSE:UNH) in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 11,465 shares of the healthcare conglomerate’s stock, valued at approximately $2,835,000. UnitedHealth Group accounts for 2.7% of Field & Main Bank’s investment portfolio, making the stock its 5th largest holding.
A number of other hedge funds and other institutional investors have also made changes to their positions in UNH. Oregon Public Employees Retirement Fund increased its position in shares of UnitedHealth Group by 50,446.5% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 53,349,795 shares of the healthcare conglomerate’s stock worth $214,000 after purchasing an additional 53,244,249 shares in the last quarter. Norges Bank acquired a new stake in shares of UnitedHealth Group during the fourth quarter worth about $2,343,175,000. BlackRock Inc. increased its position in shares of UnitedHealth Group by 3.1% during the fourth quarter. BlackRock Inc. now owns 69,831,381 shares of the healthcare conglomerate’s stock worth $17,396,391,000 after purchasing an additional 2,123,417 shares in the last quarter. FMR LLC increased its position in shares of UnitedHealth Group by 1.9% during the fourth quarter. FMR LLC now owns 64,480,003 shares of the healthcare conglomerate’s stock worth $16,063,258,000 after purchasing an additional 1,232,189 shares in the last quarter. Finally, Vanguard Group Inc increased its position in shares of UnitedHealth Group by 1.6% during the third quarter. Vanguard Group Inc now owns 69,342,549 shares of the healthcare conglomerate’s stock worth $18,447,892,000 after purchasing an additional 1,073,505 shares in the last quarter. 85.62% of the stock is owned by institutional investors.
Several equities analysts recently issued reports on the company. Zacks Investment Research cut UnitedHealth Group from a “buy” rating to a “hold” rating in a research report on Tuesday, March 19th. SunTrust Banks dropped their price target on UnitedHealth Group to $300.00 and set a “buy” rating on the stock in a research report on Wednesday, April 17th. They noted that the move was a valuation call. Raymond James dropped their price target on UnitedHealth Group from $310.00 to $265.00 and set a “strong-buy” rating on the stock in a research report on Wednesday, April 17th. Morgan Stanley dropped their price target on UnitedHealth Group from $315.00 to $285.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 17th. Finally, Bank of America restated a “buy” rating and issued a $290.00 price target (down previously from $320.00) on shares of UnitedHealth Group in a research report on Wednesday, April 17th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, eighteen have given a buy rating and one has issued a strong buy rating to the stock. The stock has an average rating of “Buy” and a consensus target price of $290.84.
UnitedHealth Group (NYSE:UNH) last announced its quarterly earnings results on Tuesday, April 16th. The healthcare conglomerate reported $3.73 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $3.60 by $0.13. UnitedHealth Group had a return on equity of 25.07% and a net margin of 5.45%. The business had revenue of $60.30 billion for the quarter, compared to analyst estimates of $59.72 billion. During the same quarter in the previous year, the company earned $3.04 EPS. The company’s quarterly revenue was up 9.2% on a year-over-year basis. As a group, research analysts predict that UnitedHealth Group Inc will post 14.71 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 25th. Shareholders of record on Monday, June 17th were issued a $1.08 dividend. The ex-dividend date of this dividend was Friday, June 14th. This is an increase from UnitedHealth Group’s previous quarterly dividend of $0.90. This represents a $4.32 annualized dividend and a yield of 1.78%. UnitedHealth Group’s payout ratio is 33.54%.
In other news, 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 completion of the sale, the director now directly owns 187,663 shares in the company, valued at approximately $43,115,574.25. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO David S. Wichmann acquired 20,000 shares of the company’s stock in a transaction dated Friday, May 3rd. The shares were purchased at an average price of $231.79 per share, with a total value of $4,635,800.00. Following the completion of the acquisition, the chief executive officer now owns 904,367 shares in the company, valued at $209,623,226.93. The disclosure for this purchase can be found here. Insiders sold a total of 35,000 shares of company stock valued at $8,392,500 over the last quarter. 0.82% of the stock is currently owned by insiders.
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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