Berkshire buys stake in UnitedHealth |
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Published
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Fri, 16 Feb 2007 17:37
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MINNEAPOLIS (AP) - Warren Buffett's holding company Berkshire Hathaway Inc. bought one million shares of insurer UnitedHealth Group Inc. last year, according to a filing with the Securities and Exchange Commission.The new stake is a sliver of the 1.4 billion shares outstanding in the nation's second-largest health insurer.UnitedHealth's shares peaked around $64 in late 2005, but have been battered by a stock-options scandal and traded in the upper $40s during most of the fourth quarter, the period covered by the filing on Wednesday, which includes Berkshire Hathaway and several subsidiaries.Its shares have recovered slightly as UnitedHealth has moved to straighten out the stock options accounting, and they rose 54 cents to $54.15 in morning trading on Friday.The same filing disclosed that Berkshire Hathaway bought $774.3 million in shares of Minneapolis-based U.S. Bancorp during the same period.Copyright 2006 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
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Berkshire buys U.S. Bancorp stock 