NEW YORK (TheStreet) -- UnitedHealth Group Inc. (UNH) applied to sell plans in 24 states' health-law consumer marketplaces next year, including major markets such as Texas and Pennsylvania, the Wall Street Journal reports.
The company's insurance arm, the largest U.S. insurer by the number of people covered, previously said it would expand to "as many as two dozen" states' individual-plan exchanges.
Its moves are being closely watched by competitors and analysts, partly because the insurer's footprint will grow so much. This year, UnitedHealthcare sold health-law plans in just four states, the Journal said..
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Shares of UnitedHealth Group are slightly higher in early afternoon trade.
TheStreet Ratings team rates UNITEDHEALTH GROUP INC as a Buy with a ratings score of A+. TheStreet Ratings Team has this to say about their recommendation:
"We rate UNITEDHEALTH GROUP INC (UNH) a BUY. This is based on the convergence of positive investment measures, which should help this stock outperform the majority of stocks that we rate. The company's strengths can be seen in multiple areas, such as its increase in stock price during the past year, revenue growth, reasonable valuation levels, growth in earnings per share and largely solid financial position with reasonable debt levels by most measures. We feel these strengths outweigh the fact that the company has had sub par growth in net income."