Sit Investment Associates Inc. trimmed its stake in shares of UnitedHealth Group Inc (NYSE:UNH) by 20.8% during the 4th quarter, HoldingsChannel.com reports. The fund owned 128,650 shares of the healthcare conglomerate’s stock after selling 33,800 shares during the quarter. UnitedHealth Group makes up about 1.0% of Sit Investment Associates Inc.’s investment portfolio, making the stock its 14th largest position. Sit Investment Associates Inc.’s holdings in UnitedHealth Group were worth $32,049,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors also recently bought and sold shares of the stock. IMS Capital Management purchased a new position in UnitedHealth Group during the third quarter worth approximately $85,000. Worth Venture Partners LLC purchased a new position in UnitedHealth Group during the third quarter worth approximately $104,000. FNY Investment Advisers LLC purchased a new position in UnitedHealth Group during the third quarter worth approximately $106,000. Polaris Greystone Financial Group LLC purchased a new position in UnitedHealth Group during the third quarter worth approximately $120,000. Finally, Fort L.P. purchased a new position in UnitedHealth Group during the second quarter worth approximately $119,000. 85.28% of the stock is currently owned by hedge funds and other institutional investors.
A number of equities analysts have issued reports on the company. Stephens assumed coverage on UnitedHealth Group in a research report on Monday. They set an “overweight” rating and a $287.00 price target on the stock. Raymond James raised their target price on UnitedHealth Group from $285.00 to $304.00 and gave the company a “strong-buy” rating in a research report on Monday, September 24th. Piper Jaffray Companies raised their target price on UnitedHealth Group to $312.00 and gave the company an “overweight” rating in a research report on Wednesday, November 28th. Cantor Fitzgerald restated a “buy” rating and issued a $310.00 target price on shares of UnitedHealth Group in a research report on Wednesday, November 21st. Finally, Zacks Investment Research raised UnitedHealth Group from a “hold” rating to a “buy” rating and set a $299.00 price target for the company in a report on Tuesday, September 25th. One analyst has rated the stock with a hold rating and twenty-three have given a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average price target of $293.86.
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. As a group, analysts expect that UnitedHealth Group Inc will post 12.81 earnings per share for the current fiscal year.
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, Director Kenneth Irwin Shine sold 163 shares of the company’s stock in a transaction on Friday, November 9th. The stock was sold at an average price of $274.83, for a total value of $44,797.29. The disclosure for this sale can be found here. Corporate insiders own 0.87% of the company’s stock.
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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 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.
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