King Wealth Management Group Buys 54 Shares of UnitedHealth Group Incorporated (NYSE:UNH)

King Wealth Management Group boosted its holdings in shares of UnitedHealth Group Incorporated (NYSE:UNH) by 0.2% during the third quarter, Holdings Channel.com reports. The firm owned 29,282 shares of the healthcare conglomerate’s stock after acquiring an additional 54 shares during the period. UnitedHealth Group accounts for about 2.7% of King Wealth Management Group’s portfolio, making the stock its 11th largest position. King Wealth Management Group’s holdings in UnitedHealth Group were worth $17,120,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently made changes to their positions in the business. Kathleen S. Wright Associates Inc. bought a new stake in shares of UnitedHealth Group in the 3rd quarter worth about $27,000. Macroview Investment Management LLC raised its holdings in shares of UnitedHealth Group by 671.4% in the second quarter. Macroview Investment Management LLC now owns 54 shares of the healthcare conglomerate’s stock worth $28,000 after buying an additional 47 shares during the period. Bbjs Financial Advisors LLC purchased a new position in UnitedHealth Group during the 2nd quarter valued at $31,000. Global Wealth Strategies & Associates increased its stake in UnitedHealth Group by 152.4% in the third quarter. Global Wealth Strategies & Associates now owns 53 shares of the healthcare conglomerate’s stock worth $31,000 after purchasing an additional 32 shares during the period. Finally, Signature Resources Capital Management LLC grew its holdings in shares of UnitedHealth Group by 40.0% in the second quarter. Signature Resources Capital Management LLC now owns 63 shares of the healthcare conglomerate’s stock worth $32,000 after purchasing an additional 18 shares during the last quarter. 87.86% of the stock is currently owned by hedge funds and other institutional investors.

UnitedHealth Group Stock Performance

NYSE UNH opened at $593.30 on Friday. The company has a market capitalization of $546.00 billion, a PE ratio of 38.65, a price-to-earnings-growth ratio of 1.78 and a beta of 0.58. UnitedHealth Group Incorporated has a twelve month low of $436.38 and a twelve month high of $630.73. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 0.74. The business’s 50-day moving average price is $582.99 and its 200 day moving average price is $548.03.

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

UnitedHealth Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 17th. Investors of record on Monday, December 9th will be issued a $2.10 dividend. The ex-dividend date is Monday, December 9th. This represents a $8.40 annualized dividend and a yield of 1.42%. UnitedHealth Group’s dividend payout ratio is currently 54.72%.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on UNH. Cantor Fitzgerald lifted their target price on UnitedHealth Group from $591.00 to $644.00 and gave the company an “overweight” rating in a research report on Wednesday, October 16th. Bank of America decreased their target price on shares of UnitedHealth Group from $675.00 to $650.00 and set a “buy” rating for the company in a research report on Wednesday, October 16th. Barclays lowered their price objective on UnitedHealth Group from $604.00 to $603.00 and set an “overweight” rating for the company in a research report on Tuesday, October 22nd. UBS Group cut their price objective on shares of UnitedHealth Group from $680.00 to $650.00 and set a “buy” rating on the stock in a report on Wednesday, October 16th. Finally, Hsbc Global Res cut shares of UnitedHealth Group from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 17th. Three research analysts have rated the stock with a hold rating, eighteen have given a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock 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.