Steinberg Global Asset Management Increases Stock Position in UnitedHealth Group Inc (NYSE:UNH)

Steinberg Global Asset Management raised its stake in UnitedHealth Group Inc (NYSE:UNH) by 2.0% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,332 shares of the healthcare conglomerate’s stock after buying an additional 103 shares during the period. Steinberg Global Asset Management’s holdings in UnitedHealth Group were worth $1,318,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the business. Crewe Advisors LLC bought a new stake in UnitedHealth Group in the fourth quarter valued at $25,000. Pearl River Capital LLC bought a new stake in UnitedHealth Group in the fourth quarter valued at $35,000. Canton Hathaway LLC bought a new stake in UnitedHealth Group in the first quarter valued at $36,000. Laurel Wealth Advisors LLC bought a new stake in UnitedHealth Group in the fourth quarter valued at $42,000. Finally, Truvestments Capital LLC bought a new stake in UnitedHealth Group in the first quarter valued at $42,000. Hedge funds and other institutional investors own 85.62% of the company’s stock.

UNH has been the subject of a number of analyst reports. Zacks Investment Research cut shares of UnitedHealth Group from a “buy” rating to a “hold” rating in a report on Tuesday, March 19th. Bank of America reiterated a “buy” rating and set a $290.00 price objective (down from $320.00) on shares of UnitedHealth Group in a report on Wednesday, April 17th. Raymond James reduced their price objective on shares of UnitedHealth Group from $310.00 to $265.00 and set a “strong-buy” rating for the company in a report on Wednesday, April 17th. ValuEngine cut shares of UnitedHealth Group from a “hold” rating to a “sell” rating in a report on Thursday, April 18th. Finally, Citigroup upgraded shares of UnitedHealth Group from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $247.00 to $280.00 in a report on Friday, May 10th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, eighteen have issued a buy rating and one has given a strong buy rating to the company. UnitedHealth Group presently has a consensus rating of “Buy” and an average target price of $290.84.

In other news, CEO David S. Wichmann bought 20,000 shares of the firm’s stock in a transaction that occurred on Friday, May 3rd. The shares were acquired at an average price of $231.79 per share, with a total value of $4,635,800.00. Following the acquisition, the chief executive officer now owns 904,367 shares of the company’s stock, valued at approximately $209,623,226.93. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director William C. Ballard, Jr. sold 5,000 shares of the company’s stock in a transaction that occurred on Monday, May 6th. The stock was sold at an average price of $239.02, for a total transaction of $1,195,100.00. Following the sale, the director now directly owns 77,993 shares in the company, valued at approximately $18,641,886.86. The disclosure for this sale can be found here. In the last three months, insiders sold 35,000 shares of company stock worth $8,392,500. Insiders own 0.82% of the company’s stock.

UNH traded down $1.37 during midday trading on Monday, reaching $242.64. The company had a trading volume of 4,102,060 shares, compared to its average volume of 4,902,830. The company has a current ratio of 0.73, a quick ratio of 0.73 and a debt-to-equity ratio of 0.63. The company has a market capitalization of $232.28 billion, a PE ratio of 18.84, a PEG ratio of 1.31 and a beta of 0.62. UnitedHealth Group Inc has a 12-month low of $208.07 and a 12-month high of $287.94. The business’s 50-day moving average price is $245.07.

UnitedHealth Group (NYSE:UNH) last released its earnings results on Tuesday, April 16th. The healthcare conglomerate reported $3.73 earnings per share for the quarter, beating the Zacks’ consensus estimate of $3.60 by $0.13. UnitedHealth Group had a net margin of 5.45% and a return on equity of 25.07%. The firm had revenue of $60.30 billion for the quarter, compared to analysts’ expectations of $59.72 billion. During the same period in the previous year, the company earned $3.04 earnings per share. The company’s quarterly revenue was up 9.2% on a year-over-year basis. Analysts anticipate 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. Stockholders of record on Monday, June 17th were given a $1.08 dividend. The ex-dividend date was Friday, June 14th. This represents a $4.32 annualized dividend and a dividend yield of 1.78%. This is a positive change from UnitedHealth Group’s previous quarterly dividend of $0.90. UnitedHealth Group’s payout ratio is 33.54%.

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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Institutional Ownership by Quarter for UnitedHealth Group (NYSE:UNH)

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