Rede Wealth LLC Decreases Position in UnitedHealth Group Incorporated (NYSE:UNH)

Rede Wealth LLC cut its stake in UnitedHealth Group Incorporated (NYSE:UNH) by 3.1% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 3,619 shares of the healthcare conglomerate’s stock after selling 115 shares during the period. UnitedHealth Group comprises approximately 0.8% of Rede Wealth LLC’s portfolio, making the stock its 13th largest position. Rede Wealth LLC’s holdings in UnitedHealth Group were worth $2,116,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in UNH. Swedbank AB acquired a new stake in shares of UnitedHealth Group in the 1st quarter worth $1,117,462,000. Mitsubishi UFJ Asset Management Co. Ltd. increased its position in UnitedHealth Group by 107.8% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 2,306,729 shares of the healthcare conglomerate’s stock worth $1,141,113,000 after purchasing an additional 1,196,758 shares during the period. Lone Pine Capital LLC purchased a new stake in shares of UnitedHealth Group in the second quarter valued at approximately $480,903,000. Dimensional Fund Advisors LP raised its position in UnitedHealth Group by 30.0% in the second quarter. Dimensional Fund Advisors LP now owns 3,816,254 shares of the healthcare conglomerate’s stock worth $1,942,956,000 after acquiring an additional 880,183 shares in the last quarter. Finally, Baillie Gifford & Co. boosted its position in shares of UnitedHealth Group by 1,125.4% during the 2nd quarter. Baillie Gifford & Co. now owns 894,006 shares of the healthcare conglomerate’s stock worth $455,281,000 after purchasing an additional 821,050 shares in the last quarter. Institutional investors and hedge funds own 87.86% of the company’s stock.

Analyst Upgrades and Downgrades

UNH has been the subject of a number of research reports. Truist Financial reiterated a “buy” rating and set a $625.00 price target (down from $640.00) on shares of UnitedHealth Group in a research report on Wednesday. Barclays upped their target price on UnitedHealth Group from $560.00 to $604.00 and gave the company an “overweight” rating in a report on Wednesday, July 17th. StockNews.com raised shares of UnitedHealth Group from a “hold” rating to a “buy” rating in a research note on Wednesday. Robert W. Baird increased their price target on shares of UnitedHealth Group from $597.00 to $640.00 and gave the company an “outperform” rating in a research report on Wednesday, July 17th. Finally, Stephens lowered their target price on UnitedHealth Group from $632.00 to $605.00 and set an “overweight” rating on the stock in a report on Wednesday. Three analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, UnitedHealth Group currently has an average rating of “Moderate Buy” and an average target price of $615.58.

UnitedHealth Group Trading Up 0.6 %

Shares of NYSE UNH traded up $3.58 during midday trading on Friday, hitting $569.61. The stock had a trading volume of 3,687,045 shares, compared to its average volume of 3,966,484. The company has a fifty day moving average price of $584.42 and a 200 day moving average price of $534.15. The company has a market capitalization of $524.26 billion, a price-to-earnings ratio of 34.82, a PEG ratio of 1.69 and a beta of 0.58. UnitedHealth Group Incorporated has a 1-year low of $436.38 and a 1-year high of $608.63. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 0.67.

UnitedHealth Group (NYSE:UNH) last released its quarterly earnings data on Tuesday, October 15th. The healthcare conglomerate reported $7.15 earnings per share (EPS) for the quarter, topping the consensus estimate of $7.00 by $0.15. UnitedHealth Group had a net margin of 3.66% and a return on equity of 26.55%. The company had revenue of $100.82 billion during the quarter, compared to analyst estimates of $99.14 billion. During the same quarter in the prior year, the business earned $6.56 earnings per share. The business’s quarterly revenue was up 9.2% compared to the same quarter last year. On average, analysts predict that UnitedHealth Group Incorporated will post 27.68 earnings per share for the current year.

UnitedHealth Group Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 24th. Shareholders of record on Monday, September 16th were given a $2.10 dividend. This represents a $8.40 annualized dividend and a yield of 1.47%. The ex-dividend date of this dividend was Monday, September 16th. UnitedHealth Group’s dividend payout ratio (DPR) is 51.34%.

UnitedHealth Group Profile

UnitedHealth Group Incorporated operates as a diversified health care company in the United States. The company operates through four segments: UnitedHealthcare, Optum Health, Optum Insight, and Optum Rx. The UnitedHealthcare segment offers consumer-oriented health benefit plans and services for national employers, public sector employers, mid-sized employers, small businesses, and individuals; health care coverage, and health and well-being services to individuals age 50 and older addressing their needs; Medicaid plans, children's health insurance and health care programs; and health and dental benefits, and hospital and clinical services, as well as health care benefits products and services to state programs caring for the economically disadvantaged, medically underserved, and those without the benefit of employer-funded health care coverage.