UnitedHealth Group Inc (UNH) Stake Lifted by Provident Trust Co.

Provident Trust Co. grew its position in shares of UnitedHealth Group Inc (NYSE:UNH) by 2.4% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 953,443 shares of the healthcare conglomerate’s stock after purchasing an additional 22,367 shares during the period. UnitedHealth Group makes up 8.7% of Provident Trust Co.’s portfolio, making the stock its 3rd biggest holding. Provident Trust Co. owned about 0.10% of UnitedHealth Group worth $233,918,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in UNH. Blue Chip Partners Inc. bought a new stake in shares of UnitedHealth Group during the 2nd quarter worth $107,000. Aevitas Wealth Management Inc. bought a new stake in shares of UnitedHealth Group during the 4th quarter worth $102,000. Northwest Wealth Management LLC bought a new stake in shares of UnitedHealth Group during the 2nd quarter worth $117,000. Bamco Inc. NY bought a new stake in shares of UnitedHealth Group during the 1st quarter worth $117,000. Finally, Pathstone Family Office LLC bought a new stake in shares of UnitedHealth Group during the 4th quarter worth $129,000. Hedge funds and other institutional investors own 85.09% of the company’s stock.

In other UnitedHealth Group news, Director Richard T. Burke sold 15,000 shares of the business’s stock in a transaction dated Monday, May 21st. The shares were sold at an average price of $248.82, for a total value of $3,732,300.00. Following the transaction, the director now owns 1,746,533 shares in the company, valued at $434,572,341.06. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Larry C. Renfro sold 19,652 shares of the business’s stock in a transaction dated Friday, June 15th. The shares were sold at an average price of $254.55, for a total transaction of $5,002,416.60. Following the completion of the transaction, the insider now owns 153,679 shares in the company, valued at approximately $39,118,989.45. The disclosure for this sale can be found here. Insiders sold 49,829 shares of company stock worth $12,601,829 in the last 90 days. Corporate insiders own 0.87% of the company’s stock.

A number of analysts have recently issued reports on UNH shares. SunTrust Banks started coverage on shares of UnitedHealth Group in a report on Monday, June 11th. They set a “buy” rating and a $300.00 price objective for the company. Zacks Investment Research downgraded shares of UnitedHealth Group from a “buy” rating to a “hold” rating in a research note on Thursday, May 31st. Leerink Swann reissued an “outperform” rating on shares of UnitedHealth Group in a research note on Wednesday, July 18th. Cantor Fitzgerald boosted their price target on shares of UnitedHealth Group to $300.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 18th. Finally, Royal Bank of Canada reissued a “buy” rating on shares of UnitedHealth Group in a research note on Wednesday, April 18th. Twenty-three analysts have rated the stock with a buy rating, The stock has an average rating of “Buy” and a consensus price target of $268.82.

UnitedHealth Group opened at $257.22 on Friday, Marketbeat reports. UnitedHealth Group Inc has a twelve month low of $186.00 and a twelve month high of $259.01. The firm has a market capitalization of $246.09 billion, a price-to-earnings ratio of 22.40, a price-to-earnings-growth ratio of 1.52 and a beta of 0.71. The company has a quick ratio of 0.71, a current ratio of 0.75 and a debt-to-equity ratio of 0.63.

UnitedHealth Group (NYSE:UNH) last released its quarterly earnings data on Tuesday, July 17th. The healthcare conglomerate reported $3.14 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.04 by $0.10. UnitedHealth Group had a net margin of 5.55% and a return on equity of 22.79%. The firm had revenue of $56.09 billion for the quarter, compared to analysts’ expectations of $56.10 billion. During the same quarter in the previous year, the company earned $2.46 earnings per share. The company’s revenue for the quarter was up 12.1% compared to the same quarter last year. equities analysts anticipate that UnitedHealth Group Inc will post 12.72 EPS for the current fiscal year.

UnitedHealth Group declared that its board has initiated a share repurchase plan on Wednesday, June 6th that permits the company to repurchase 100,000,000 outstanding shares. This repurchase authorization permits the healthcare conglomerate to buy shares of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s management 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.

Further Reading: Short Selling – Explanation For Shorting Stocks

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

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