CCM Investment Advisers LLC lifted its stake in UnitedHealth Group Incorporated (NYSE:UNH) by 3.6% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 54,344 shares of the healthcare conglomerate’s stock after acquiring an additional 1,912 shares during the quarter. UnitedHealth Group accounts for about 2.0% of CCM Investment Advisers LLC’s investment portfolio, making the stock its 17th largest holding. CCM Investment Advisers LLC’s holdings in UnitedHealth Group were worth $10,076,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds also recently made changes to their positions in the company. Honeywell International Inc. bought a new stake in shares of UnitedHealth Group in the first quarter worth approximately $35,262,000. Schwab Charles Investment Management Inc. grew its stake in shares of UnitedHealth Group by 5.3% in the second quarter. Schwab Charles Investment Management Inc. now owns 3,656,975 shares of the healthcare conglomerate’s stock worth $678,077,000 after acquiring an additional 183,401 shares during the period. Suntrust Banks Inc. grew its stake in shares of UnitedHealth Group by 8.5% in the first quarter. Suntrust Banks Inc. now owns 260,811 shares of the healthcare conglomerate’s stock worth $42,774,000 after acquiring an additional 20,541 shares during the period. Factory Mutual Insurance Co. grew its stake in shares of UnitedHealth Group by 20.9% in the second quarter. Factory Mutual Insurance Co. now owns 416,600 shares of the healthcare conglomerate’s stock worth $77,245,000 after acquiring an additional 72,000 shares during the period. Finally, Shell Asset Management Co. grew its stake in shares of UnitedHealth Group by 0.8% in the second quarter. Shell Asset Management Co. now owns 157,241 shares of the healthcare conglomerate’s stock worth $29,156,000 after acquiring an additional 1,254 shares during the period. Hedge funds and other institutional investors own 86.19% of the company’s stock.
UnitedHealth Group (NYSE:UNH) last released its quarterly earnings results on Tuesday, July 18th. The healthcare conglomerate reported $2.46 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.38 by $0.08. UnitedHealth Group had a net margin of 4.32% and a return on equity of 21.52%. The firm had revenue of $50.05 billion for the quarter, compared to analysts’ expectations of $49.97 billion. During the same quarter last year, the company earned $1.96 EPS. The firm’s revenue for the quarter was up 7.7% compared to the same quarter last year.
The business also recently declared a quarterly dividend, which was paid on Tuesday, September 19th. Investors of record on Friday, September 8th were paid a $0.75 dividend. The ex-dividend date of this dividend was Thursday, September 7th. This represents a $3.00 dividend on an annualized basis and a yield of 1.56%. UnitedHealth Group’s dividend payout ratio is currently 35.13%.
UNH has been the subject of a number of research analyst reports. UBS AG reiterated an “overweight” rating on shares of UnitedHealth Group in a research note on Thursday, August 24th. BidaskClub upgraded shares of UnitedHealth Group from a “buy” rating to a “strong-buy” rating in a research note on Saturday, July 8th. Morgan Stanley lifted their price target on shares of UnitedHealth Group from $202.00 to $210.00 and gave the stock an “overweight” rating in a research note on Wednesday, June 28th. Bank of America Corporation lifted their price target on shares of UnitedHealth Group from $210.00 to $214.00 and gave the stock a “buy” rating in a research note on Friday, July 14th. Finally, Zacks Investment Research lowered shares of UnitedHealth Group from a “buy” rating to a “hold” rating in a research note on Tuesday, September 26th. Three equities research analysts have rated the stock with a hold rating and twenty-three have given a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $203.59.
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In related news, insider Larry C. Renfro sold 50,574 shares of UnitedHealth Group stock in a transaction on Friday, September 15th. The shares were sold at an average price of $198.11, for a total value of $10,019,215.14. Following the sale, the insider now owns 195,625 shares of the company’s stock, valued at approximately $38,755,268.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director William C. Ballard, Jr. sold 5,000 shares of UnitedHealth Group stock in a transaction on Thursday, August 3rd. The shares were sold at an average price of $193.98, for a total transaction of $969,900.00. Following the completion of the sale, the director now directly owns 76,058 shares in the company, valued at approximately $14,753,730.84. The disclosure for this sale can be found here. Insiders sold a total of 76,174 shares of company stock worth $14,981,909 in the last three months. 0.89% of the stock is owned by corporate insiders.
UnitedHealth Group Company Profile
UnitedHealth Group Incorporated is a health and well-being company. The Company operates through four segments: UnitedHealthcare, OptumHealth, OptumInsight and OptumRx. It conducts its operations through two business platforms: health benefits operating under UnitedHealthcare and health services operating under Optum.
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