Lumbard & Kellner LLC Purchases New Position in UnitedHealth Group Incorporated (NYSE:UNH)

Lumbard & Kellner LLC bought a new position in shares of UnitedHealth Group Incorporated (NYSE:UNH) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 2,000 shares of the healthcare conglomerate’s stock, valued at approximately $1,019,000.

A number of other hedge funds also recently bought and sold shares of the stock. Vanguard Group Inc. lifted its holdings in shares of UnitedHealth Group by 0.6% during the 1st quarter. Vanguard Group Inc. now owns 84,405,255 shares of the healthcare conglomerate’s stock valued at $41,755,280,000 after purchasing an additional 544,740 shares during the last quarter. Price T Rowe Associates Inc. MD increased its position in shares of UnitedHealth Group by 0.4% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 26,062,928 shares of the healthcare conglomerate’s stock valued at $12,893,331,000 after acquiring an additional 94,641 shares during the period. Capital Research Global Investors grew its position in shares of UnitedHealth Group by 2.2% during the 4th quarter. Capital Research Global Investors now owns 15,122,203 shares of the healthcare conglomerate’s stock valued at $7,961,369,000 after acquiring an additional 324,733 shares during the period. Capital International Investors grew its position in shares of UnitedHealth Group by 4.8% during the 4th quarter. Capital International Investors now owns 11,860,985 shares of the healthcare conglomerate’s stock valued at $6,244,158,000 after acquiring an additional 542,424 shares during the period. Finally, Bank of New York Mellon Corp grew its position in shares of UnitedHealth Group by 0.4% during the 2nd quarter. Bank of New York Mellon Corp now owns 8,039,601 shares of the healthcare conglomerate’s stock valued at $4,094,247,000 after acquiring an additional 35,533 shares during the period. Hedge funds and other institutional investors own 87.86% of the company’s stock.

UnitedHealth Group Stock Down 1.9 %

Shares of NYSE:UNH opened at $577.89 on Wednesday. The stock has a market cap of $531.88 billion, a P/E ratio of 35.32, a PEG ratio of 1.64 and a beta of 0.58. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 0.67. UnitedHealth Group Incorporated has a 52-week low of $436.38 and a 52-week high of $607.94. The business has a fifty day moving average of $572.79 and a two-hundred day moving average of $519.00.

UnitedHealth Group (NYSE:UNH) last released its quarterly earnings results on Tuesday, July 16th. The healthcare conglomerate reported $6.80 earnings per share for the quarter, topping analysts’ consensus estimates of $6.66 by $0.14. The business had revenue of $98.86 billion during the quarter, compared to analysts’ expectations of $98.73 billion. UnitedHealth Group had a return on equity of 26.55% and a net margin of 3.66%. The company’s revenue was up 6.4% compared to the same quarter last year. During the same period in the prior year, the business posted $6.14 EPS. On average, research analysts expect that UnitedHealth Group Incorporated will post 27.69 earnings per share for the current year.

UnitedHealth Group Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 24th. Stockholders of record on Monday, September 16th will be issued a dividend of $2.10 per share. This represents a $8.40 dividend on an annualized basis and a dividend yield of 1.45%. The ex-dividend date of this dividend is Monday, September 16th. UnitedHealth Group’s dividend payout ratio is presently 51.34%.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the company. Morgan Stanley raised their target price on UnitedHealth Group from $595.00 to $615.00 and gave the company an “overweight” rating in a research report on Wednesday, July 17th. TD Cowen raised their price target on shares of UnitedHealth Group from $546.00 to $601.00 and gave the company a “buy” rating in a research note on Wednesday, July 17th. UBS Group raised their price target on shares of UnitedHealth Group from $640.00 to $680.00 and gave the company a “buy” rating in a research note on Thursday, July 18th. Royal Bank of Canada raised their price target on shares of UnitedHealth Group from $555.00 to $615.00 and gave the company an “outperform” rating in a research note on Wednesday, July 17th. Finally, Baird R W raised shares of UnitedHealth Group to a “strong-buy” rating in a research note on Thursday, May 30th. One research analyst has rated the stock with a hold rating, nineteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Buy” and an average target price of $614.17.

Insider Activity at UnitedHealth Group

In related news, CAO Thomas E. Roos sold 2,851 shares of the firm’s stock in a transaction dated Wednesday, July 17th. The stock was sold at an average price of $569.88, for a total transaction of $1,624,727.88. Following the completion of the transaction, the chief accounting officer now directly owns 29,501 shares in the company, valued at approximately $16,812,029.88. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CAO Thomas E. Roos sold 2,851 shares of the firm’s stock in a transaction dated Wednesday, July 17th. The stock was sold at an average price of $569.88, for a total transaction of $1,624,727.88. Following the completion of the transaction, the chief accounting officer now directly owns 29,501 shares in the company, valued at approximately $16,812,029.88. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Erin Mcsweeney sold 1,500 shares of the firm’s stock in a transaction dated Thursday, July 18th. The shares were sold at an average price of $579.03, for a total value of $868,545.00. Following the transaction, the executive vice president now owns 7,785 shares of the company’s stock, valued at $4,507,748.55. The disclosure for this sale can be found here. 0.33% of the stock is currently owned by company insiders.

UnitedHealth Group Company Profile

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.