Chemung Canal Trust Co. Has $4.69 Million Stock Position in UnitedHealth Group Incorporated (NYSE:UNH)

Chemung Canal Trust Co. increased its stake in UnitedHealth Group Incorporated (NYSE:UNH) by 78.9% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 9,266 shares of the healthcare conglomerate’s stock after acquiring an additional 4,086 shares during the quarter. Chemung Canal Trust Co.’s holdings in UnitedHealth Group were worth $4,687,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of UNH. M&T Bank Corp grew its stake in shares of UnitedHealth Group by 13.4% in the 3rd quarter. M&T Bank Corp now owns 220,590 shares of the healthcare conglomerate’s stock valued at $128,975,000 after buying an additional 26,074 shares during the period. Sugarloaf Wealth Management LLC raised its position in shares of UnitedHealth Group by 17.6% during the fourth quarter. Sugarloaf Wealth Management LLC now owns 7,957 shares of the healthcare conglomerate’s stock worth $4,025,000 after purchasing an additional 1,193 shares during the period. Benjamin Edwards Inc. grew its position in UnitedHealth Group by 1,275.3% in the 3rd quarter. Benjamin Edwards Inc. now owns 44,547 shares of the healthcare conglomerate’s stock valued at $26,060,000 after purchasing an additional 41,308 shares during the period. Parsifal Capital Management LP bought a new stake in UnitedHealth Group during the 3rd quarter valued at $21,165,000. Finally, Signal Advisors Wealth LLC grew its holdings in shares of UnitedHealth Group by 13.0% during the fourth quarter. Signal Advisors Wealth LLC now owns 9,115 shares of the healthcare conglomerate’s stock valued at $4,611,000 after buying an additional 1,051 shares during the last quarter. 87.86% of the stock is owned by institutional investors.

UnitedHealth Group Trading Up 0.5 %

Shares of UnitedHealth Group stock opened at $532.26 on Friday. The company’s 50-day moving average price is $542.24 and its 200-day moving average price is $563.54. The company has a current ratio of 0.83, a quick ratio of 0.91 and a debt-to-equity ratio of 0.74. The company has a market cap of $489.83 billion, a price-to-earnings ratio of 34.34, a PEG ratio of 1.41 and a beta of 0.62. UnitedHealth Group Incorporated has a 12-month low of $436.38 and a 12-month high of $630.73.

UnitedHealth Group (NYSE:UNH) last posted its quarterly earnings data on Thursday, January 16th. The healthcare conglomerate reported $6.81 earnings per share (EPS) for the quarter, beating the consensus estimate of $6.74 by $0.07. The company had revenue of $100.81 billion during the quarter, compared to analyst estimates of $101.60 billion. UnitedHealth Group had a return on equity of 26.69% and a net margin of 3.60%. The firm’s quarterly revenue was up 6.8% on a year-over-year basis. During the same quarter last year, the company earned $5.83 earnings per share. On average, equities analysts expect that UnitedHealth Group Incorporated will post 29.74 earnings per share for the current fiscal year.

UnitedHealth Group Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, December 17th. Investors of record on Monday, December 9th were given a $2.10 dividend. The ex-dividend date was Monday, December 9th. This represents a $8.40 annualized dividend and a yield of 1.58%. UnitedHealth Group’s dividend payout ratio (DPR) is presently 54.19%.

Insider Buying and Selling at UnitedHealth Group

In other UnitedHealth Group news, Director Timothy Patrick Flynn acquired 1,000 shares of the stock in a transaction dated Friday, January 17th. The stock was purchased at an average cost of $511.57 per share, for a total transaction of $511,570.00. Following the acquisition, the director now owns 4,500 shares in the company, valued at $2,302,065. The trade was a 28.57 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 0.33% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have issued reports on the company. Stephens lifted their price target on UnitedHealth Group from $605.00 to $675.00 and gave the company an “overweight” rating in a research note on Thursday, December 5th. Bank of America dropped their price objective on UnitedHealth Group from $675.00 to $650.00 and set a “buy” rating on the stock in a research note on Wednesday, October 16th. Truist Financial lowered their target price on shares of UnitedHealth Group from $625.00 to $610.00 and set a “buy” rating for the company in a report on Monday, January 6th. Oppenheimer lifted their target price on shares of UnitedHealth Group from $610.00 to $640.00 and gave the stock an “outperform” rating in a research report on Friday, December 6th. Finally, Cantor Fitzgerald reissued an “overweight” rating and issued a $700.00 price objective on shares of UnitedHealth Group in a research report on Friday, January 17th. One equities research analyst has rated the stock with a hold rating, twenty have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, UnitedHealth Group presently has a consensus rating of “Buy” and an average target price of $627.74.

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.