Franklin Resources Inc. raised its holdings in UnitedHealth Group Incorporated (NYSE:UNH) by 15.3% during the 1st quarter, Holdings Channel.com reports. The firm owned 3,944,677 shares of the healthcare conglomerate’s stock after acquiring an additional 522,460 shares during the period. UnitedHealth Group accounts for 0.6% of Franklin Resources Inc.’s holdings, making the stock its 27th biggest holding. Franklin Resources Inc.’s holdings in UnitedHealth Group were worth $1,467,697,000 as of its most recent SEC filing.
Other hedge funds have also recently bought and sold shares of the company. OLD Mission Capital LLC purchased a new stake in shares of UnitedHealth Group in the 3rd quarter valued at approximately $439,000. Sage Mountain Advisors LLC acquired a new stake in UnitedHealth Group during the 4th quarter worth $463,000. Eagle Capital Management LLC raised its stake in UnitedHealth Group by 1.0% during the 4th quarter. Eagle Capital Management LLC now owns 16,018 shares of the healthcare conglomerate’s stock worth $5,617,000 after acquiring an additional 152 shares in the last quarter. Camden National Bank increased its stake in UnitedHealth Group by 5.5% in the fourth quarter. Camden National Bank now owns 1,902 shares of the healthcare conglomerate’s stock valued at $667,000 after purchasing an additional 100 shares during the period. Finally, Nicollet Investment Management Inc. increased its stake in UnitedHealth Group by 2.5% in the fourth quarter. Nicollet Investment Management Inc. now owns 9,643 shares of the healthcare conglomerate’s stock valued at $3,382,000 after purchasing an additional 237 shares during the period. 86.23% of the stock is currently owned by institutional investors and hedge funds.
UNH has been the subject of a number of research reports. Stephens lifted their target price on shares of UnitedHealth Group from $415.00 to $425.00 and gave the stock an “overweight” rating in a research report on Friday, April 16th. Morgan Stanley increased their target price on shares of UnitedHealth Group from $462.00 to $515.00 and gave the stock an “overweight” rating in a report on Friday, April 16th. Barclays increased their price objective on shares of UnitedHealth Group from $405.00 to $435.00 and gave the stock an “overweight” rating in a report on Friday, April 16th. Deutsche Bank Aktiengesellschaft raised their price objective on shares of UnitedHealth Group from $409.00 to $418.00 and gave the company a “buy” rating in a research report on Friday, April 16th. Finally, Truist raised their target price on shares of UnitedHealth Group from $420.00 to $450.00 in a report on Wednesday, April 14th. Three equities research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the company. The company has an average rating of “Buy” and a consensus price target of $425.14.
UnitedHealth Group (NYSE:UNH) last issued its earnings results on Wednesday, April 14th. The healthcare conglomerate reported $5.31 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $4.38 by $0.93. The firm had revenue of $70.20 billion for the quarter, compared to analysts’ expectations of $69.13 billion. UnitedHealth Group had a return on equity of 26.04% and a net margin of 6.42%. The business’s revenue was up 9.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $3.72 earnings per share. As a group, sell-side analysts anticipate that UnitedHealth Group Incorporated will post 18.61 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 29th. Investors of record on Monday, June 21st will be issued a $1.45 dividend. This is a positive change from UnitedHealth Group’s previous quarterly dividend of $1.25. The ex-dividend date is Friday, June 18th. This represents a $5.80 dividend on an annualized basis and a dividend yield of 1.46%. UnitedHealth Group’s payout ratio is presently 34.36%.
In related news, CAO Thomas E. Roos sold 5,301 shares of the business’s stock in a transaction that occurred on Tuesday, April 27th. The shares were sold at an average price of $394.66, for a total value of $2,092,092.66. Following the completion of the transaction, the chief accounting officer now owns 58,589 shares of the company’s stock, valued at $23,122,734.74. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Richard T. Burke sold 2,000 shares of the business’s stock in a transaction that occurred on Thursday, June 10th. The stock was sold at an average price of $402.00, for a total transaction of $804,000.00. Following the completion of the transaction, the director now directly owns 154,181 shares of the company’s stock, valued at approximately $61,980,762. The disclosure for this sale can be found here. Insiders sold 16,801 shares of company stock valued at $6,638,668 in the last three months. 0.80% of the stock is currently owned by insiders.
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; Medicaid plans, children's health insurance program, and health care programs; medical and dental benefits; and hospital and clinical services.
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