UnitedHealth Group Incorporated (NYSE:UNH) Stake Lessened by 1776 Wealth LLC

1776 Wealth LLC lessened its holdings in shares of UnitedHealth Group Incorporated (NYSE:UNH) by 5.5% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 1,803 shares of the healthcare conglomerate’s stock after selling 104 shares during the period. 1776 Wealth LLC’s holdings in UnitedHealth Group were worth $1,054,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. International Assets Investment Management LLC boosted its position in shares of UnitedHealth Group by 78,814.4% in the 3rd quarter. International Assets Investment Management LLC now owns 5,296,737 shares of the healthcare conglomerate’s stock valued at $3,096,896,000 after purchasing an additional 5,290,025 shares during the period. Swedbank AB acquired a new position in UnitedHealth Group during the first quarter valued at $1,117,462,000. Lone Pine Capital LLC acquired a new position in shares of UnitedHealth Group in the 2nd quarter valued at about $480,903,000. Dimensional Fund Advisors LP increased its stake in UnitedHealth Group by 30.0% in the 2nd quarter. Dimensional Fund Advisors LP now owns 3,816,254 shares of the healthcare conglomerate’s stock valued at $1,942,956,000 after buying an additional 880,183 shares during the period. Finally, Baillie Gifford & Co. grew its holdings 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 valued at $455,281,000 after acquiring an additional 821,050 shares in the last quarter. 87.86% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research firms have recently issued reports on UNH. UBS Group decreased their price target on UnitedHealth Group from $680.00 to $650.00 and set a “buy” rating for the company in a research note on Wednesday, October 16th. StockNews.com raised UnitedHealth Group from a “hold” rating to a “buy” rating in a research report on Tuesday. Truist Financial reissued a “buy” rating and set a $625.00 price objective (down previously from $640.00) on shares of UnitedHealth Group in a report on Wednesday, October 16th. Stephens dropped their target price on UnitedHealth Group from $632.00 to $605.00 and set an “overweight” rating for the company in a report on Wednesday, October 16th. Finally, HSBC lowered UnitedHealth Group from a “buy” rating to a “hold” rating in a research note on Thursday, October 17th. Three equities research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $615.53.

UnitedHealth Group Stock Down 0.2 %

UnitedHealth Group stock traded down $0.92 during mid-day trading on Friday, reaching $592.23. The company’s stock had a trading volume of 3,423,919 shares, compared to its average volume of 3,888,996. The business’s 50 day simple moving average is $582.84 and its 200 day simple moving average is $549.06. UnitedHealth Group Incorporated has a 12 month low of $436.38 and a 12 month high of $630.73. The company has a market capitalization of $545.02 billion, a price-to-earnings ratio of 38.58, a price-to-earnings-growth ratio of 1.78 and a beta of 0.58. The company has a debt-to-equity ratio of 0.74, a quick ratio of 0.91 and a current ratio of 0.91.

UnitedHealth Group (NYSE:UNH) last announced its earnings results on Tuesday, October 15th. The healthcare conglomerate reported $7.15 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $7.00 by $0.15. The company had revenue of $100.82 billion during 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 quarterly revenue was up 9.2% on a year-over-year basis. During the same quarter in the previous year, the business posted $6.56 earnings per share. As a group, research analysts anticipate that UnitedHealth Group Incorporated will post 27.61 earnings per share for the current year.

UnitedHealth Group Announces Dividend

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

UnitedHealth Group Company 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.