UnitedHealth Group Incorporated (NYSE:UNH) Shares Purchased by Montecito Bank & Trust

Montecito Bank & Trust boosted its stake in shares of UnitedHealth Group Incorporated (NYSE:UNH) by 30.8% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,041 shares of the healthcare conglomerate’s stock after purchasing an additional 716 shares during the period. Montecito Bank & Trust’s holdings in UnitedHealth Group were worth $1,778,000 at the end of the most recent reporting period.

Other institutional investors also recently made changes to their positions in the company. Kathleen S. Wright Associates Inc. acquired a new position in shares of UnitedHealth Group in the 3rd quarter valued at about $27,000. Macroview Investment Management LLC boosted its position in UnitedHealth Group by 671.4% during the 2nd quarter. Macroview Investment Management LLC now owns 54 shares of the healthcare conglomerate’s stock worth $28,000 after purchasing an additional 47 shares during the period. Delos Wealth Advisors LLC raised its position in UnitedHealth Group by 757.1% in the first quarter. Delos Wealth Advisors LLC now owns 60 shares of the healthcare conglomerate’s stock valued at $30,000 after purchasing an additional 53 shares during the period. Bbjs Financial Advisors LLC purchased a new stake in shares of UnitedHealth Group in the second quarter worth about $31,000. Finally, Global Wealth Strategies & Associates lifted its position in UnitedHealth Group by 152.4% during the 3rd quarter. Global Wealth Strategies & Associates now owns 53 shares of the healthcare conglomerate’s stock worth $31,000 after acquiring an additional 32 shares in the last quarter. 87.86% of the stock is owned by hedge funds and other institutional investors.

UnitedHealth Group Stock Up 5.2 %

UnitedHealth Group stock opened at $596.69 on Thursday. The stock has a market cap of $551.00 billion, a price-to-earnings ratio of 38.87, a PEG ratio of 1.64 and a beta of 0.58. The company has a current ratio of 0.91, a quick ratio of 0.88 and a debt-to-equity ratio of 0.74. UnitedHealth Group Incorporated has a 52 week low of $436.38 and a 52 week high of $608.63. The company’s 50-day moving average price is $581.13 and its two-hundred day moving average price is $543.74.

UnitedHealth Group (NYSE:UNH) last issued its quarterly earnings results on Tuesday, October 15th. The healthcare conglomerate reported $7.15 EPS for the quarter, topping the consensus estimate of $7.00 by $0.15. The firm had revenue of $100.82 billion for the quarter, compared to analysts’ expectations of $99.14 billion. UnitedHealth Group had a net margin of 3.63% and a return on equity of 26.37%. UnitedHealth Group’s revenue for the quarter was up 9.2% compared to the same quarter last year. During the same period in the previous year, the business earned $6.56 earnings per share. On average, analysts expect that UnitedHealth Group Incorporated will post 27.61 EPS for the current fiscal year.

UnitedHealth Group Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 17th. Stockholders of record on Monday, December 9th will be given a dividend of $2.10 per share. This represents a $8.40 dividend on an annualized basis and a dividend yield of 1.41%. The ex-dividend date of this dividend is Monday, December 9th. UnitedHealth Group’s dividend payout ratio (DPR) is presently 54.72%.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the stock. HSBC cut shares of UnitedHealth Group from a “buy” rating to a “hold” rating in a research report on Thursday, October 17th. Bank of America dropped their target price on UnitedHealth Group from $675.00 to $650.00 and set a “buy” rating on the stock in a research report on Wednesday, October 16th. Robert W. Baird upped their target price on UnitedHealth Group from $597.00 to $640.00 and gave the company an “outperform” rating in a research report on Wednesday, July 17th. Wells Fargo & Company increased their price objective on shares of UnitedHealth Group from $525.00 to $630.00 and gave the company an “overweight” rating in a research note on Wednesday, July 17th. Finally, Jefferies Financial Group raised shares of UnitedHealth Group from a “hold” rating to a “buy” rating and increased their price target for the stock from $481.00 to $647.00 in a research report on Wednesday, July 17th. Four analysts have rated the stock with a hold rating, seventeen have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $615.53.

About UnitedHealth Group

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.