6 Meridian lifted its position in shares of UnitedHealth Group Inc (NYSE:UNH) by 0.3% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 24,791 shares of the healthcare conglomerate’s stock after acquiring an additional 67 shares during the period. 6 Meridian’s holdings in UnitedHealth Group were worth $6,049,000 at the end of the most recent reporting period.
Several other hedge funds have also recently bought and sold shares of the stock. Altman Advisors Inc. acquired a new stake in shares of UnitedHealth Group during the 2nd quarter valued at approximately $2,012,000. Country Club Trust Company n.a. grew its stake in UnitedHealth Group by 2.1% during the 2nd quarter. Country Club Trust Company n.a. now owns 2,535 shares of the healthcare conglomerate’s stock worth $618,000 after buying an additional 53 shares during the last quarter. Lincoln Capital Corp grew its stake in UnitedHealth Group by 122.0% during the 2nd quarter. Lincoln Capital Corp now owns 8,130 shares of the healthcare conglomerate’s stock worth $1,984,000 after buying an additional 4,468 shares during the last quarter. Clark Capital Management Group Inc. grew its stake in UnitedHealth Group by 11.9% during the 2nd quarter. Clark Capital Management Group Inc. now owns 345,418 shares of the healthcare conglomerate’s stock worth $84,285,000 after buying an additional 36,645 shares during the last quarter. Finally, Town & Country Bank & Trust CO dba First Bankers Trust CO grew its stake in UnitedHealth Group by 42.8% during the 2nd quarter. Town & Country Bank & Trust CO dba First Bankers Trust CO now owns 4,945 shares of the healthcare conglomerate’s stock worth $1,207,000 after buying an additional 1,483 shares during the last quarter. 85.37% of the stock is currently owned by institutional investors and hedge funds.
Shares of UNH traded down $7.41 during midday trading on Thursday, reaching $232.94. 4,408,392 shares of the stock were exchanged, compared to its average volume of 4,585,517. UnitedHealth Group Inc has a 12-month low of $208.07 and a 12-month high of $287.94. The firm has a 50 day simple moving average of $251.08 and a 200-day simple moving average of $247.23. The company has a quick ratio of 0.67, a current ratio of 0.67 and a debt-to-equity ratio of 0.62. The company has a market cap of $231.91 billion, a price-to-earnings ratio of 18.09, a P/E/G ratio of 1.30 and a beta of 0.61.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 24th. Stockholders of record on Monday, September 16th will be paid a dividend of $1.08 per share. This represents a $4.32 dividend on an annualized basis and a dividend yield of 1.85%. The ex-dividend date is Friday, September 13th. UnitedHealth Group’s dividend payout ratio (DPR) is presently 33.54%.
A number of research analysts recently commented on UNH shares. Citigroup upgraded UnitedHealth Group from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $247.00 to $280.00 in a research note on Friday, May 10th. Cantor Fitzgerald set a $310.00 price objective on UnitedHealth Group and gave the stock a “buy” rating in a research note on Friday, July 19th. Zacks Investment Research upgraded UnitedHealth Group from a “sell” rating to a “buy” rating and set a $269.00 price objective for the company in a research note on Monday, July 22nd. Raymond James increased their price target on UnitedHealth Group from $265.00 to $300.00 and gave the stock a “buy” rating in a research note on Friday, July 19th. Finally, Oppenheimer set a $312.00 target price on UnitedHealth Group and gave the company a “buy” rating in a research note on Friday, July 19th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and eighteen have issued a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus price target of $295.06.
In other news, Director William C. Ballard, Jr. sold 12,000 shares of the stock in a transaction dated Tuesday, July 23rd. The stock was sold at an average price of $255.31, for a total transaction of $3,063,720.00. Following the transaction, the director now owns 61,309 shares of the company’s stock, valued at approximately $15,652,800.79. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Richard T. Burke sold 10,000 shares of the stock in a transaction dated Tuesday, June 11th. The shares were sold at an average price of $248.00, for a total value of $2,480,000.00. Following the transaction, the director now directly owns 187,663 shares in the company, valued at approximately $46,540,424. The disclosure for this sale can be found here. Insiders have sold a total of 37,000 shares of company stock valued at $9,195,620 over the last ninety days. Company insiders own 0.87% of the company’s stock.
UnitedHealth Group Company 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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