Canandaigua National Trust Co of Florida Reduces Position in UnitedHealth Group Incorporated (NYSE:UNH)

by · The Markets Daily

Canandaigua National Trust Co of Florida lessened its holdings in shares of UnitedHealth Group Incorporated (NYSE:UNH – Free Report) by 4.8% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 833 shares of the healthcare conglomerate’s stock after selling 42 shares during the period. Canandaigua National Trust Co of Florida’s holdings in UnitedHealth Group were worth $436,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Geode Capital Management LLC grew its stake in shares of UnitedHealth Group by 1.6% in the 4th quarter. Geode Capital Management LLC now owns 19,956,219 shares of the healthcare conglomerate’s stock valued at $10,068,869,000 after buying an additional 319,515 shares during the period. Capital International Investors grew its stake in shares of UnitedHealth Group by 6.2% in the 4th quarter. Capital International Investors now owns 15,616,007 shares of the healthcare conglomerate’s stock valued at $7,899,905,000 after buying an additional 906,365 shares during the period. Norges Bank acquired a new position in shares of UnitedHealth Group in the 4th quarter worth approximately $6,375,744,000. Northern Trust Corp lifted its holdings in shares of UnitedHealth Group by 12.5% in the 4th quarter. Northern Trust Corp now owns 9,503,671 shares of the healthcare conglomerate’s stock worth $4,807,527,000 after acquiring an additional 1,058,488 shares during the last quarter. Finally, Franklin Resources Inc. lifted its holdings in shares of UnitedHealth Group by 10.7% in the 4th quarter. Franklin Resources Inc. now owns 8,923,770 shares of the healthcare conglomerate’s stock worth $4,514,178,000 after acquiring an additional 861,854 shares during the last quarter. Hedge funds and other institutional investors own 87.86% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have issued reports on UNH. KeyCorp reduced their target price on shares of UnitedHealth Group from $450.00 to $400.00 and set an “overweight” rating on the stock in a report on Monday, June 2nd. Robert W. Baird downgraded shares of UnitedHealth Group from an “outperform” rating to a “neutral” rating and set a $312.00 price objective on the stock. in a research report on Wednesday, June 11th. Morgan Stanley dropped their target price on shares of UnitedHealth Group from $563.00 to $374.00 and set an “overweight” rating on the stock in a research report on Wednesday, May 14th. JPMorgan Chase & Co. increased their target price on shares of UnitedHealth Group from $405.00 to $418.00 and gave the company an “overweight” rating in a research report on Friday, June 20th. Finally, Royal Bank Of Canada lowered their price objective on shares of UnitedHealth Group from $525.00 to $355.00 and set an “outperform” rating on the stock in a research report on Friday, May 16th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and sixteen have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $415.57.

Get Our Latest Stock Report on UNH

Insider Buying and Selling at UnitedHealth Group

In other news, CEO Patrick Hugh Conway sold 589 shares of the company’s stock in a transaction dated Tuesday, June 10th. The shares were sold at an average price of $305.00, for a total transaction of $179,645.00. Following the completion of the transaction, the chief executive officer now owns 10,398 shares in the company, valued at approximately $3,171,390. This represents a 5.36% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Stephen J. Hemsley purchased 86,700 shares of the stock in a transaction dated Friday, May 16th. The shares were purchased at an average price of $288.57 per share, with a total value of $25,019,019.00. Following the transaction, the chief executive officer now directly owns 679,493 shares of the company’s stock, valued at approximately $196,081,295.01. The trade was a 14.63% increase in their position. The disclosure for this purchase can be found here. Insiders acquired a total of 109,408 shares of company stock worth $31,607,768 over the last 90 days. Insiders own 0.28% of the company’s stock.

UnitedHealth Group Trading Up 2.1%

NYSE UNH opened at $308.85 on Monday. The company’s fifty day simple moving average is $336.21 and its 200-day simple moving average is $453.53. UnitedHealth Group Incorporated has a 52 week low of $248.88 and a 52 week high of $630.73. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.71. The stock has a market cap of $280.17 billion, a P/E ratio of 12.93, a PEG ratio of 1.46 and a beta of 0.45.

UnitedHealth Group (NYSE:UNH – Get Free Report) last posted its earnings results on Thursday, April 17th. The healthcare conglomerate reported $7.20 EPS for the quarter, missing analysts’ consensus estimates of $7.29 by ($0.09). UnitedHealth Group had a return on equity of 26.29% and a net margin of 5.39%. The firm had revenue of $109.58 billion for the quarter, compared to analyst estimates of $111.56 billion. During the same period in the previous year, the firm posted $6.91 earnings per share. Equities research analysts predict that UnitedHealth Group Incorporated will post 29.54 EPS for the current fiscal year.

UnitedHealth Group Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 24th. Investors of record on Monday, June 16th were issued a $2.21 dividend. The ex-dividend date of this dividend was Monday, June 16th. This is a boost from UnitedHealth Group’s previous quarterly dividend of $2.10. This represents a $8.84 annualized dividend and a yield of 2.86%. UnitedHealth Group’s dividend payout ratio is currently 37.02%.

About UnitedHealth Group

(Free Report)

UnitedHealth Group Incorporated operates as a diversified health care company in the United States. The company 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 health and well-being services to individuals age 50 and older addressing their needs; Medicaid plans, children's health insurance and health care programs; and health and dental benefits, and hospital and clinical services, as well as health care benefits products and services to state programs caring for the economically disadvantaged, medically underserved, and those without the benefit of employer-funded health care coverage.

Featured Stories

Want to see what other hedge funds are holding UNH? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for UnitedHealth Group Incorporated (NYSE:UNH – Free Report).