As is the case with any high-profile murder or assassination attempt, the killing of Brian Thompson, the CEO of UnitedHealthcare, triggered a major investigation, much speculation, and an interesting reaction from the public.
Specifically, the executive was shot outside the Hilton hotel in midtown Manhattan on the morning of December 4 with a silenced pistol. The assailant – who remains at large at press time – reportedly fled the scene on an electric bike.
On the finance side, the attack had little impact other than the abrupt cancellation of UnitedHealth’s (NYSE: UNH) investor day presentation.
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Who has been trading UNH stock the most
Looking at the health insurance provider’s shareholders, various institutional investors appear the most likely to see an impact from the fatal attack and its aftermath. Specifically, UnitedHealth is 89.39% owned by institutions, per the data retrieved on December 5 from Nasdaq, or 87.86% per Market Beat.
During the third quarter, there was an apparent balance between such investors who increased their stake in the firm and those who decreased, though some of the proportionally largest moves were to raise the exposure.
For example, World Investment Advisors LLC raised its stake by 2,607.2% to 331,664 shares, and Zurich Insurance Group Ltd FI – the second-biggest move of the trimester – by 2,205.3% to 269,723. On the flip side, Y Intercept Hong Kong Ltd reduced its stake by the largest percentage – 71.5% – and owned 5,969 shares.
Simultaneously, Geode Capital Management LLC has the biggest stake in UnitedHealth with 19 million shares worth more than $11 billion, while Foyston Gordon & Payne Inc has the largest proportion of its overall portfolio vested in the corporation at 5.3%.
Why few suspect institutional foul play with Brian Thompson murder
Though nothing appeared out of the ordinary at the time of the most recent reports, future filings – particularly paired with the police investigation – may or may not contain interesting information.
As for the speculation, the apparent efficacy of the attack and the fact the assailant used a silenced weapon raised some questions. However, netizens appear unsurprised by the shooting, with many jokingly concluding Brian Thompson had over 50 million enemies.
UnitedHealthcare had more than 52 million insured customers in 2023, and the killed executive was responsible for many controversial policies that led to a large proportion of insurance claims – including for certain emergency room (ER) visits – being denied.
For what it is worth, the assailant reportedly had ‘deny,’ ‘defend,’ and ‘depose’ written on the bullet casings.
UnitedHealth stock price impact
Whatever the upcoming institutional filings and the police investigation reveal, the reaction to the fatal shooting has, so far, been tame on the stock market side. Specifically, UNH shares closed 0.92% in the green at $610.79 on Wednesday.
Still, it is worth pointing out that the stock was up more than 3% for the day near the time of the attack and that some cracks may be showing in the Thursday pre-market, as UnitedHealth stock is 0.13% down in the extended session.
Featured image via Shutterstock
