UnitedHealth Group Inc (NYSE:UNH) Shares Acquired by Pinnacle Associates Ltd.
Pinnacle Associates Ltd. raised its holdings in shares of UnitedHealth Group Inc (NYSE:UNH) by 1.2% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 56,429 shares of the healthcare conglomerate’s stock after acquiring an additional 667 shares during the period. Pinnacle Associates Ltd.’s holdings in UnitedHealth Group were worth $14,072,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently bought and sold shares of UNH. Norges Bank acquired a new position in shares of UnitedHealth Group in the 4th quarter valued at $2,804,376,000. Capital Research Global Investors lifted its position in shares of UnitedHealth Group by 32.1% during the fourth quarter. Capital Research Global Investors now owns 29,851,016 shares of the healthcare conglomerate’s stock worth $8,775,602,000 after purchasing an additional 7,261,158 shares in the last quarter. Capital World Investors raised its holdings in UnitedHealth Group by 7.2% in the fourth quarter. Capital World Investors now owns 47,932,997 shares of the healthcare conglomerate’s stock valued at $14,091,342,000 after acquiring an additional 3,219,554 shares in the last quarter. NorthRock Partners LLC raised its holdings in UnitedHealth Group by 33,159.6% in the fourth quarter. NorthRock Partners LLC now owns 1,347,680 shares of the healthcare conglomerate’s stock valued at $3,498,000 after acquiring an additional 1,343,628 shares in the last quarter. Finally, Capital International Investors raised its holdings in UnitedHealth Group by 4.4% in the fourth quarter. Capital International Investors now owns 25,843,701 shares of the healthcare conglomerate’s stock valued at $7,597,531,000 after acquiring an additional 1,082,141 shares in the last quarter. Hedge funds and other institutional investors own 86.59% of the company’s stock.
A number of equities analysts recently weighed in on the stock. Raymond James lowered their price objective on shares of UnitedHealth Group from $340.00 to $325.00 in a research report on Thursday, April 16th. Deutsche Bank cut their price target on UnitedHealth Group from $308.00 to $293.00 and set a “buy” rating for the company in a research note on Thursday, April 16th. Cowen boosted their target price on shares of UnitedHealth Group from $320.00 to $340.00 and gave the company an “outperform” rating in a research note on Thursday, April 16th. Barclays reissued a “buy” rating and issued a $322.00 target price on shares of UnitedHealth Group in a research note on Sunday, March 29th. Finally, Citigroup cut their target price on shares of UnitedHealth Group from $346.00 to $339.00 and set a “buy” rating for the company in a research note on Friday, April 24th. Four analysts have rated the stock with a hold rating and twenty have given a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus price target of $320.36.
UnitedHealth Group (NYSE:UNH) last announced its earnings results on Wednesday, April 15th. The healthcare conglomerate reported $3.72 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $3.63 by $0.09. UnitedHealth Group had a return on equity of 24.86% and a net margin of 5.59%. The company had revenue of $64.40 billion for the quarter, compared to analyst estimates of $64.25 billion. During the same period in the prior year, the company posted $3.73 EPS. UnitedHealth Group’s quarterly revenue was up 6.8% on a year-over-year basis. As a group, equities analysts forecast that UnitedHealth Group Inc will post 16.24 EPS for the current fiscal year.
In related news, Director Richard T. Burke sold 5,000 shares of the firm’s stock in a transaction dated Wednesday, March 18th. The stock was sold at an average price of $212.00, for a total transaction of $1,060,000.00. Following the completion of the transaction, the director now owns 158,598 shares of the company’s stock, valued at $33,622,776. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Stephen J. Hemsley sold 45,637 shares of the company’s stock in a transaction on Monday, May 11th. The shares were sold at an average price of $289.11, for a total value of $13,194,113.07. Following the sale, the director now directly owns 1,013,122 shares of the company’s stock, valued at $292,903,701.42. The disclosure for this sale can be found here. Over the last three months, insiders have sold 65,637 shares of company stock worth $17,723,013. Corporate insiders own 0.80% of the company’s stock.
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 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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