Wedge Capital Management L L P NC Sells 1,827 Shares of UnitedHealth Group Incorporated (NYSE:UNH)

Wedge Capital Management L L P NC lessened its holdings in UnitedHealth Group Incorporated (NYSE:UNHGet Rating) by 10.7% in the 2nd quarter, Holdings Channel.com reports. The fund owned 15,181 shares of the healthcare conglomerate’s stock after selling 1,827 shares during the period. Wedge Capital Management L L P NC’s holdings in UnitedHealth Group were worth $7,797,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Advocacy Wealth Management Services LLC boosted its holdings in UnitedHealth Group by 75.8% in the first quarter. Advocacy Wealth Management Services LLC now owns 58 shares of the healthcare conglomerate’s stock worth $30,000 after acquiring an additional 25 shares in the last quarter. Cascade Investment Advisors Inc. raised its stake in shares of UnitedHealth Group by 100.0% in the first quarter. Cascade Investment Advisors Inc. now owns 60 shares of the healthcare conglomerate’s stock worth $31,000 after purchasing an additional 30 shares during the last quarter. Rise Advisors LLC purchased a new position in shares of UnitedHealth Group in the fourth quarter worth about $38,000. Evolution Advisers Inc. purchased a new position in shares of UnitedHealth Group in the first quarter worth about $38,000. Finally, Cordant Inc. purchased a new position in shares of UnitedHealth Group in the first quarter worth about $45,000. Institutional investors and hedge funds own 87.25% of the company’s stock.

UnitedHealth Group Stock Performance

NYSE UNH opened at $523.55 on Tuesday. The stock’s fifty day moving average is $529.29 and its two-hundred day moving average is $511.99. The firm has a market capitalization of $489.72 billion, a P/E ratio of 27.34, a price-to-earnings-growth ratio of 1.63 and a beta of 0.76. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.77 and a current ratio of 0.77. UnitedHealth Group Incorporated has a fifty-two week low of $383.12 and a fifty-two week high of $553.29.

UnitedHealth Group (NYSE:UNHGet Rating) last announced its quarterly earnings results on Friday, July 15th. The healthcare conglomerate reported $5.57 EPS for the quarter, beating the consensus estimate of $5.24 by $0.33. UnitedHealth Group had a return on equity of 25.45% and a net margin of 5.95%. The business had revenue of $80.33 billion for the quarter, compared to analyst estimates of $79.68 billion. During the same quarter in the prior year, the company posted $4.70 EPS. The company’s quarterly revenue was up 12.6% on a year-over-year basis. On average, research analysts anticipate that UnitedHealth Group Incorporated will post 21.85 earnings per share for the current year.

UnitedHealth Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 20th. Investors of record on Monday, September 12th will be issued a $1.65 dividend. The ex-dividend date of this dividend is Friday, September 9th. This represents a $6.60 annualized dividend and a dividend yield of 1.26%. UnitedHealth Group’s dividend payout ratio is presently 34.46%.

Insider Activity at UnitedHealth Group

In related news, Director Stephen J. Hemsley sold 99,312 shares of the business’s stock in a transaction on Tuesday, July 26th. The stock was sold at an average price of $534.27, for a total value of $53,059,422.24. Following the sale, the director now owns 787,372 shares in the company, valued at approximately $420,669,238.44. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, Director Stephen J. Hemsley sold 99,312 shares of the business’s stock in a transaction on Tuesday, July 26th. The stock was sold at an average price of $534.27, for a total value of $53,059,422.24. Following the sale, the director now owns 787,372 shares in the company, valued at approximately $420,669,238.44. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Andrew Witty sold 11,376 shares of the company’s stock in a transaction dated Monday, July 18th. The stock was sold at an average price of $527.90, for a total value of $6,005,390.40. Following the sale, the chief executive officer now owns 76,559 shares in the company, valued at approximately $40,415,496.10. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 140,324 shares of company stock worth $75,086,185. 0.40% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on UNH. BMO Capital Markets lifted their price target on UnitedHealth Group from $600.00 to $610.00 in a research report on Wednesday, July 20th. Credit Suisse Group lifted their price target on UnitedHealth Group from $575.00 to $579.00 and gave the company an “outperform” rating in a research report on Monday, July 18th. UBS Group lifted their price target on UnitedHealth Group from $545.00 to $570.00 and gave the company a “neutral” rating in a research report on Thursday, July 21st. Morgan Stanley lifted their price target on UnitedHealth Group from $570.00 to $587.00 in a research report on Monday, July 18th. Finally, SVB Leerink boosted their price objective on UnitedHealth Group from $600.00 to $625.00 and gave the company an “outperform” rating in a research report on Monday, July 18th. Three investment analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $585.65.

About UnitedHealth Group

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UnitedHealth Group Incorporated operates as a diversified health care company in the United States. It operates through four segments: UnitedHealthcare, Optum Health, Optum Insight, and Optum Rx. 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 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; Medicaid plans, children's health insurance and health care programs; health and dental benefits; and hospital and clinical services.

Further Reading

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

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