Manchester Capital Management LLC lessened its stake in UnitedHealth Group Incorporated (NYSE:UNH) by 16.9% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 13,363 shares of the healthcare conglomerate’s stock after selling 2,715 shares during the quarter. UnitedHealth Group comprises about 0.6% of Manchester Capital Management LLC’s investment portfolio, making the stock its 18th largest holding. Manchester Capital Management LLC’s holdings in UnitedHealth Group were worth $4,166,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. JJJ Advisors Inc. increased its holdings in UnitedHealth Group by 1,820.0% in the third quarter. JJJ Advisors Inc. now owns 96 shares of the healthcare conglomerate’s stock valued at $30,000 after purchasing an additional 91 shares during the last quarter. Old North State Trust LLC acquired a new position in UnitedHealth Group in the third quarter valued at about $39,000. Exchange Traded Concepts LLC grew its stake in UnitedHealth Group by 140.0% in the second quarter. Exchange Traded Concepts LLC now owns 132 shares of the healthcare conglomerate’s stock valued at $39,000 after acquiring an additional 77 shares during the period. Clean Yield Group grew its stake in UnitedHealth Group by 38.5% in the third quarter. Clean Yield Group now owns 144 shares of the healthcare conglomerate’s stock valued at $45,000 after acquiring an additional 40 shares during the period. Finally, Hudock Inc. grew its stake in UnitedHealth Group by 95.1% in the third quarter. Hudock Inc. now owns 160 shares of the healthcare conglomerate’s stock valued at $49,000 after acquiring an additional 78 shares during the period. Institutional investors and hedge funds own 86.39% of the company’s stock.
In other news, Director Stephen J. Hemsley sold 98,579 shares of the stock in a transaction that occurred on Friday, October 23rd. The stock was sold at an average price of $329.47, for a total transaction of $32,478,823.13. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Marianne D. Short sold 10,336 shares of the stock in a transaction that occurred on Friday, August 28th. The stock was sold at an average price of $312.34, for a total value of $3,228,346.24. In the last quarter, insiders have sold 135,915 shares of company stock worth $44,372,099. 0.80% of the stock is owned by corporate insiders.
UnitedHealth Group (NYSE:UNH) last announced its earnings results on Monday, October 19th. The healthcare conglomerate reported $3.51 earnings per share for the quarter, topping the Zacks’ consensus estimate of $2.98 by $0.53. The company had revenue of $65.12 billion for the quarter, compared to analyst estimates of $63.97 billion. UnitedHealth Group had a return on equity of 27.53% and a net margin of 6.62%. The firm’s quarterly revenue was up 7.9% compared to the same quarter last year. During the same quarter last year, the company earned $3.88 earnings per share. Equities research analysts expect that UnitedHealth Group Incorporated will post 16.78 EPS for the current year.
A number of research analysts have issued reports on the company. Deutsche Bank Aktiengesellschaft boosted their target price on UnitedHealth Group from $293.00 to $312.00 and gave the company a “buy” rating in a research note on Thursday, July 16th. Piper Sandler boosted their target price on UnitedHealth Group from $350.00 to $385.00 and gave the company an “overweight” rating in a research note on Thursday, October 15th. SVB Leerink boosted their target price on UnitedHealth Group from $370.00 to $373.00 and gave the company an “outperform” rating in a research note on Thursday, October 15th. Bank of America boosted their target price on UnitedHealth Group from $351.00 to $365.00 and gave the company a “buy” rating in a research note on Friday, August 28th. Finally, ValuEngine raised UnitedHealth Group from a “sell” rating to a “hold” rating in a research report on Thursday, October 1st. Five research analysts have rated the stock with a hold rating, twenty have given a buy rating and one has given a strong buy rating to the company. UnitedHealth Group currently has an average rating of “Buy” and a consensus target price of $346.68.
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 health care delivery.
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