Bahl & Gaynor Inc. decreased its position in shares of UnitedHealth Group Inc (NYSE:UNH) by 24.7% during the 3rd quarter, HoldingsChannel reports. The fund owned 142,455 shares of the healthcare conglomerate’s stock after selling 46,719 shares during the period. Bahl & Gaynor Inc.’s holdings in UnitedHealth Group were worth $37,899,000 at the end of the most recent reporting period.
Other large investors have also recently made changes to their positions in the company. Welch Group LLC acquired a new position in shares of UnitedHealth Group during the 2nd quarter worth approximately $106,000. FNY Investment Advisers LLC acquired a new position in shares of UnitedHealth Group during the 3rd quarter worth approximately $106,000. Fort L.P. acquired a new position in shares of UnitedHealth Group during the 2nd quarter worth approximately $119,000. Polaris Greystone Financial Group LLC acquired a new position in shares of UnitedHealth Group during the 3rd quarter worth approximately $120,000. Finally, Columbia Asset Management acquired a new position in shares of UnitedHealth Group during the 3rd quarter worth approximately $152,000. 85.45% of the stock is currently owned by institutional investors and hedge funds.
Several research analysts recently issued reports on the company. Zacks Investment Research downgraded UnitedHealth Group from a “buy” rating to a “hold” rating in a research report on Wednesday, November 21st. BMO Capital Markets set a $310.00 price objective on UnitedHealth Group and gave the stock a “buy” rating in a research report on Tuesday, November 27th. Cantor Fitzgerald restated a “buy” rating and set a $310.00 price objective on shares of UnitedHealth Group in a research report on Wednesday, November 21st. Oppenheimer lifted their price objective on UnitedHealth Group from $295.00 to $300.00 and gave the stock an “outperform” rating in a research report on Wednesday. Finally, Piper Jaffray Companies lifted their price objective on UnitedHealth Group to $312.00 and gave the stock an “overweight” rating in a research report on Wednesday. Two analysts have rated the stock with a hold rating and twenty-one have assigned a buy rating to the stock. The company has an average rating of “Buy” and a consensus price target of $292.48.
UnitedHealth Group (NYSE:UNH) last released its quarterly earnings data on Tuesday, October 16th. The healthcare conglomerate reported $3.41 EPS for the quarter, topping analysts’ consensus estimates of $3.30 by $0.11. The business had revenue of $56.56 billion during the quarter, compared to the consensus estimate of $56.34 billion. UnitedHealth Group had a return on equity of 23.62% and a net margin of 5.71%. The business’s revenue for the quarter was up 12.4% on a year-over-year basis. During the same period in the prior year, the firm posted $2.66 EPS. On average, analysts forecast that UnitedHealth Group Inc will post 12.82 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 13th. Stockholders of record on Monday, December 3rd will be issued a dividend of $0.90 per share. The ex-dividend date of this dividend is Friday, November 30th. This represents a $3.60 dividend on an annualized basis and a dividend yield of 1.28%. UnitedHealth Group’s payout ratio is 35.75%.
In other news, Director Richard T. Burke sold 6,090 shares of the company’s stock in a transaction on Wednesday, November 28th. The stock was sold at an average price of $281.72, for a total transaction of $1,715,674.80. Following the completion of the sale, the director now directly owns 1,711,584 shares in the company, valued at approximately $482,187,444.48. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Steven H. Nelson sold 26,033 shares of the company’s stock in a transaction on Friday, September 7th. The stock was sold at an average price of $270.65, for a total value of $7,045,831.45. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 60,428 shares of company stock valued at $16,232,134. Insiders own 0.87% of the company’s stock.
TRADEMARK VIOLATION WARNING: “UnitedHealth Group Inc (UNH) Shares Sold by Bahl & Gaynor Inc.” was originally posted by Community Financial News and is owned by of Community Financial News. If you are accessing this piece on another domain, it was stolen and republished in violation of United States and international copyright laws. The correct version of this piece can be viewed at https://www.com-unik.info/2018/12/02/unitedhealth-group-inc-unh-shares-sold-by-bahl-gaynor-inc.html.
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.
Featured Article: What are different types of coverage ratios?
Want to see what other hedge funds are holding UNH? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for UnitedHealth Group Inc (NYSE:UNH).
Receive News & Ratings for UnitedHealth Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for UnitedHealth Group and related companies with MarketBeat.com's FREE daily email newsletter.