In the months leading up to the killing of Brian Thompson, the CEO of UnitedHealth Group, several institutional investors made changes to their positions in the company.
Thompson, 50, was killed in a "targeted" shooting early Wednesday morning by a masked gunman using a silencer outside of the Hilton Hotel in Midtown, New York City, before he was scheduled to speak at an investor meeting in the ballroom, according to multiple reports. the gunman fled the scene on a bike.
UnitedHealth Group canceled its investor day after reports emerged of the shooting. Thompson led its insurance unit, the largest private health insurer in the nation.
In Q3, Parsifal Capital Management LP acquired 36,200 shares valued at $21.16 million, making UnitedHealth Group their 15th largest holding, reported Market Beat.
Other institutional investors, like Delta Financial Group Inc. own 1650 shares of the stock after buying 17 more valued at $965,000.
Another institutional investor, Fiduciary Group LLC, also bought an additional 18 shares increasing its stake by 0.5. It owns 3,695 shares that are valued at $1,882,000, said the site.
Collectively, institutional investors own nearly 88% of UnitedHealth's stock, reported Yahoo! Finance.
A major player in healthcare, with divisions focused on insurance, health services, and pharmacy benefits, UnitedHealth Group's stock has been performing strongly, with a reported earnings beat in its latest quarterly results said Market Beat.
Analysts are optimistic, with most rating it a "buy" and an average price target of $621.58. The stock recently traded around $605.23.
Earlier this year, UnitedHealth Group revealed that it was hit with the biggest cyberattack on the American healthcare system which affected millions. Last month, the Department of Justice blocked it's $33 billion deal with a hospice provider due to antitrust laws.
