State of New Jersey Common Pension Fund D Cuts Stock Position in UnitedHealth Group Incorporated (NYSE:UNH)

State of New Jersey Common Pension Fund D cut its holdings in shares of UnitedHealth Group Incorporated (NYSE:UNH) by 35.9% during the second quarter, Holdings Channel.com reports. The institutional investor owned 338,926 shares of the healthcare conglomerate’s stock after selling 189,467 shares during the period. UnitedHealth Group accounts for 0.8% of State of New Jersey Common Pension Fund D’s investment portfolio, making the stock its 18th largest holding. State of New Jersey Common Pension Fund D’s holdings in UnitedHealth Group were worth $172,601,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of UNH. Macroview Investment Management LLC lifted its stake in UnitedHealth Group by 671.4% in the second quarter. Macroview Investment Management LLC now owns 54 shares of the healthcare conglomerate’s stock worth $28,000 after acquiring an additional 47 shares during the last quarter. True Wealth Design LLC purchased a new stake in shares of UnitedHealth Group during the 4th quarter worth $31,000. Delos Wealth Advisors LLC increased its holdings in UnitedHealth Group by 757.1% in the first quarter. Delos Wealth Advisors LLC now owns 60 shares of the healthcare conglomerate’s stock valued at $30,000 after buying an additional 53 shares during the last quarter. Bbjs Financial Advisors LLC purchased a new stake in UnitedHealth Group during the 2nd quarter worth about $31,000. Finally, Signature Resources Capital Management LLC raised its position in shares of UnitedHealth Group by 40.0% during the 2nd quarter. Signature Resources Capital Management LLC now owns 63 shares of the healthcare conglomerate’s stock worth $32,000 after acquiring an additional 18 shares in the last quarter. Institutional investors and hedge funds own 87.86% of the company’s stock.

UnitedHealth Group Stock Down 1.5 %

Shares of NYSE:UNH opened at $589.75 on Thursday. The company has a market capitalization of $542.80 billion, a P/E ratio of 36.05, a P/E/G ratio of 1.66 and a beta of 0.58. The stock’s fifty day simple moving average is $564.99 and its 200-day simple moving average is $516.56. UnitedHealth Group Incorporated has a 52-week low of $436.38 and a 52-week high of $607.94. 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 (NYSE:UNH) last issued its quarterly earnings results on Tuesday, July 16th. The healthcare conglomerate reported $6.80 EPS 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 the consensus estimate of $98.73 billion. UnitedHealth Group had a net margin of 3.66% and a return on equity of 26.55%. The company’s quarterly revenue was up 6.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $6.14 earnings per share. As a group, equities research analysts forecast that UnitedHealth Group Incorporated will post 27.69 earnings per share for the current fiscal year.

UnitedHealth Group Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 24th. Shareholders of record on Monday, September 16th will be paid a $2.10 dividend. This represents a $8.40 dividend on an annualized basis and a yield of 1.42%. The ex-dividend date of this dividend is Monday, September 16th. UnitedHealth Group’s payout ratio is 51.34%.

Analyst Ratings Changes

UNH has been the subject of several recent analyst reports. Wells Fargo & Company boosted their price objective on shares of UnitedHealth Group from $525.00 to $630.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 17th. Robert W. Baird raised their price objective on UnitedHealth Group from $597.00 to $640.00 and gave the stock an “outperform” rating in a report on Wednesday, July 17th. Argus raised their price target on UnitedHealth Group from $570.00 to $600.00 and gave the company a “buy” rating in a report on Wednesday, July 17th. UBS Group raised their target price on UnitedHealth Group from $640.00 to $680.00 and gave the company a “buy” rating in a report on Thursday, July 18th. Finally, HSBC increased their price target on shares of UnitedHealth Group from $580.00 to $610.00 in a report on Thursday, July 18th. Two investment analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $614.17.

Insider Activity

In related news, EVP Erin Mcsweeney sold 1,500 shares of the business’s stock in a transaction that occurred on Thursday, July 18th. The shares were sold at an average price of $579.03, for a total value of $868,545.00. Following the completion of the sale, the executive vice president now directly owns 7,785 shares in the company, valued at $4,507,748.55. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, CAO Thomas E. Roos sold 2,851 shares of the business’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 sale, the chief accounting officer now 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 can be accessed through the SEC website. Also, EVP Erin Mcsweeney sold 1,500 shares of UnitedHealth Group stock in a transaction that occurred on Thursday, July 18th. The shares were sold at an average price of $579.03, for a total transaction of $868,545.00. Following the transaction, the executive vice president now directly owns 7,785 shares in the company, valued at $4,507,748.55. The disclosure for this sale can be found here. Corporate insiders own 0.33% of the company’s stock.

About UnitedHealth Group

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.