Amalgamated Bank Boosts Position in UnitedHealth Group Incorporated (UNH)
Amalgamated Bank increased its holdings in shares of UnitedHealth Group Incorporated (NYSE:UNH) by 56.1% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 113,188 shares of the healthcare conglomerate’s stock after acquiring an additional 40,691 shares during the period. UnitedHealth Group makes up 0.7% of Amalgamated Bank’s investment portfolio, making the stock its 20th largest holding. Amalgamated Bank’s holdings in UnitedHealth Group were worth $20,987,000 as of its most recent SEC filing.
A number of other institutional investors have also recently modified their holdings of UNH. BlackRock Inc. raised its holdings in shares of UnitedHealth Group by 1.2% during the second quarter. BlackRock Inc. now owns 69,430,416 shares of the healthcare conglomerate’s stock valued at $12,873,786,000 after purchasing an additional 796,654 shares during the last quarter. Letko Brosseau & Associates Inc. boosted its position in shares of UnitedHealth Group by 3.4% in the second quarter. Letko Brosseau & Associates Inc. now owns 3,824 shares of the healthcare conglomerate’s stock worth $709,000 after purchasing an additional 124 shares during the period. Bruderman Asset Management LLC bought a new position in shares of UnitedHealth Group in the second quarter worth approximately $114,000. Holt Capital Advisors L.L.C. dba Holt Capital Partners L.P. bought a new position in shares of UnitedHealth Group in the second quarter worth approximately $209,000. Finally, TCI Wealth Advisors Inc. boosted its position in shares of UnitedHealth Group by 1.5% in the second quarter. TCI Wealth Advisors Inc. now owns 1,609 shares of the healthcare conglomerate’s stock worth $298,000 after purchasing an additional 23 shares during the period. 85.71% of the stock is owned by institutional investors and hedge funds.
UnitedHealth Group Incorporated (NYSE UNH) opened at $211.22 on Thursday. The stock has a market capitalization of $204,220.00, a price-to-earnings ratio of 21.90, a price-to-earnings-growth ratio of 1.56 and a beta of 0.64. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.70 and a quick ratio of 0.70. UnitedHealth Group Incorporated has a 52-week low of $150.00 and a 52-week high of $213.93.
UnitedHealth Group (NYSE:UNH) last released its quarterly earnings data on Tuesday, October 17th. The healthcare conglomerate reported $2.66 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $2.57 by $0.09. The firm had revenue of $50.32 billion during the quarter, compared to analysts’ expectations of $50.38 billion. UnitedHealth Group had a return on equity of 21.52% and a net margin of 4.50%. UnitedHealth Group’s revenue was up 8.7% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.17 earnings per share. equities analysts expect that UnitedHealth Group Incorporated will post 9.99 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 12th. Shareholders of record on Friday, December 1st will be given a $0.75 dividend. This represents a $3.00 annualized dividend and a yield of 1.42%. The ex-dividend date of this dividend is Thursday, November 30th. UnitedHealth Group’s payout ratio is 34.09%.
In related news, insider Larry C. Renfro sold 50,574 shares of the stock in a transaction on Friday, September 15th. The stock was sold at an average price of $198.11, for a total transaction of $10,019,215.14. Following the sale, the insider now owns 195,625 shares of the company’s stock, valued at $38,755,268.75. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Gail R. Wilensky sold 5,600 shares of the stock in a transaction on Tuesday, September 5th. The shares were sold at an average price of $199.49, for a total value of $1,117,144.00. Following the sale, the director now directly owns 60,834 shares in the company, valued at approximately $12,135,774.66. The disclosure for this sale can be found here. In the last 90 days, insiders sold 57,606 shares of company stock valued at $11,433,133. Company insiders own 0.89% of the company’s stock.
A number of equities analysts recently weighed in on the stock. Cowen and Company restated an “outperform” rating and set a $220.00 target price (up previously from $175.00) on shares of UnitedHealth Group in a research report on Friday, August 11th. Zacks Investment Research lowered shares of UnitedHealth Group from a “buy” rating to a “hold” rating in a research report on Tuesday, September 26th. Morgan Stanley raised their price target on shares of UnitedHealth Group from $210.00 to $215.00 and gave the stock an “overweight” rating in a research note on Thursday, August 17th. Oppenheimer Holdings, Inc. raised their price target on shares of UnitedHealth Group from $215.00 to $205.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 18th. Finally, Cantor Fitzgerald reiterated a “buy” rating and set a $208.00 target price on shares of UnitedHealth Group in a report on Tuesday, October 17th. Three equities research analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the company’s stock. UnitedHealth Group has a consensus rating of “Buy” and a consensus target price of $216.65.
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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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