UnitedHealth Group, parent of United Healthcare — which has Hartford operations — said its fourth-quarter profits rose 5.6 percent, largely due to growth in premiums.
The company earned $1.51 billion, or $1.55 per diluted share, for the quarter ended Dec. 31. That was up from $1.43 billion, or $1.41, a year prior.
Revenue grew from $31.1 billion to $33.4 billion. More than two thirds of that growth was from premiums.
United Healthcare’s revenue was up 5.7 percent, while its operating margin declined from 6.2 percent to 5.7 percent. Its medical membership ticked up by 50,000.
For the full year, UHG’s profits were essentially flat at $5.62 billion, or $5.70 per share, up from $5.50 per share in 2013.
For the year ahead, the company estimates earnings per share between $6 and $6.25 on revenue of $140.5 billion to $141.5 billion.
