Summit Securities Doubles Down on UnitedHealth Group with Massive Stake Increase

Summit Securities Group LLC has increased its stake in UnitedHealth Group Incorporated by 392.6% in the second quarter, according to a recent Form 13F filing with the SEC. The institutional investor bought an additional 5,021 shares during this period, bringing its total holdings in UnitedHealth Group's stock to 11,321 shares worth $2,618,000.

The company is one of several major investors who have increased their stakes in UnitedHealth Group over the past few quarters. Norges Bank bought a new position in UnitedHealth Group in the fourth quarter valued at about $4,376,167,000. T. Rowe Price Investment Management Inc. also increased its stake by 141.9% in the same period.

UnitedHealth Group reported earnings per share of $6.38 for the second quarter, exceeding analysts' consensus estimates of $4.94. The company's revenue was up 0.4% compared to the same period last year.