CCM Investment Advisers LLC Buys Shares of 48,973 UnitedHealth Group Incorporated (UNH)

CCM Investment Advisers LLC Buys Shares of 48,973 UnitedHealth Group Incorporated (UNH)

CCM Investment Advisers LLC bought a new stake in UnitedHealth Group Incorporated (NYSE:UNH) during the third quarter, Holdings Channel reports. The fund bought 48,973 shares of the healthcare conglomerate’s stock, valued at approximately $6,856,000.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Coconut Grove Bank boosted its position in shares of UnitedHealth Group by 19.5% in the third quarter. Coconut Grove Bank now owns 736 shares of the healthcare conglomerate’s stock valued at $103,000 after buying an additional 120 shares during the period. First Personal Financial Services boosted its position in shares of UnitedHealth Group by 36.9% in the third quarter. First Personal Financial Services now owns 742 shares of the healthcare conglomerate’s stock valued at $104,000 after buying an additional 200 shares during the period. Archford Capital Strategies LLC boosted its position in shares of UnitedHealth Group by 669.2% in the second quarter. Archford Capital Strategies LLC now owns 800 shares of the healthcare conglomerate’s stock valued at $113,000 after buying an additional 696 shares during the period. NewSquare Capital LLC boosted its position in shares of UnitedHealth Group by 4.8% in the third quarter. NewSquare Capital LLC now owns 880 shares of the healthcare conglomerate’s stock valued at $123,000 after buying an additional 40 shares during the period. Finally, Adirondack Trust Co. boosted its position in shares of UnitedHealth Group by 16.4% in the third quarter. Adirondack Trust Co. now owns 885 shares of the healthcare conglomerate’s stock valued at $124,000 after buying an additional 125 shares during the period. 86.54% of the stock is owned by hedge funds and other institutional investors.

Shares of UnitedHealth Group Incorporated (NYSE:UNH) traded up 0.01% during midday trading on Tuesday, reaching $160.53. 2,942,701 shares of the company traded hands. The company’s 50 day moving average is $161.30 and its 200-day moving average is $148.04. The stock has a market capitalization of $155.71 billion, a price-to-earnings ratio of 21.47 and a beta of 0.68. UnitedHealth Group Incorporated has a 12 month low of $110.09 and a 12 month high of $164.00.

UnitedHealth Group (NYSE:UNH) last posted its earnings results on Tuesday, January 17th. The healthcare conglomerate reported $2.11 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $2.07 by $0.04. UnitedHealth Group had a net margin of 3.92% and a return on equity of 21.17%. The firm earned $47.50 billion during the quarter, compared to the consensus estimate of $47.12 billion. During the same period last year, the firm posted $1.40 EPS. The firm’s revenue for the quarter was up 9.0% on a year-over-year basis. Equities research analysts forecast that UnitedHealth Group Incorporated will post $9.52 earnings per share for the current fiscal year.

A number of research analysts have weighed in on UNH shares. Cowen and Company set a $175.00 price objective on shares of UnitedHealth Group and gave the company a “buy” rating in a report on Wednesday, November 30th. Credit Suisse Group reaffirmed an “outperform” rating and issued a $160.00 price objective (up previously from $155.00) on shares of UnitedHealth Group in a report on Friday, October 21st. Zacks Investment Research cut shares of UnitedHealth Group from a “buy” rating to a “hold” rating in a report on Tuesday. Cantor Fitzgerald started coverage on shares of UnitedHealth Group in a report on Monday. They issued an “overweight” rating and a $200.00 price objective for the company. Finally, Royal Bank Of Canada lifted their price objective on shares of UnitedHealth Group from $168.00 to $175.00 and gave the company an “outperform” rating in a report on Wednesday, November 30th. One research analyst has rated the stock with a hold rating, twenty-one have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus price target of $173.17.

In other UnitedHealth Group news, Director Richard T. Burke sold 10,000 shares of the firm’s stock in a transaction dated Tuesday, January 31st. The shares were sold at an average price of $161.68, for a total transaction of $1,616,800.00. Following the sale, the director now directly owns 1,921,191 shares of the company’s stock, valued at approximately $310,618,160.88. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Richard T. Burke sold 45,000 shares of the firm’s stock in a transaction dated Thursday, December 8th. The stock was sold at an average price of $158.66, for a total transaction of $7,139,700.00. Following the sale, the director now directly owns 1,944,949 shares in the company, valued at $308,585,608.34. The disclosure for this sale can be found here. Insiders have sold a total of 75,460 shares of company stock valued at $11,975,503 over the last 90 days. 1.65% of the stock is currently owned by insiders.

About UnitedHealth Group

UnitedHealth Group Incorporated is a diversified healthcare company. The Company operates through four segments: UnitedHealthcare, OptumHealth, OptumInsight and OptumRx. The Company conducts its operations through two business platforms: health benefits operating under UnitedHealthcare and health services operating under Optum.

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