Palumbo Wealth Management LLC Acquires 628 Shares of UnitedHealth Group Incorporated (NYSE:UNH)

Palumbo Wealth Management LLC increased its holdings in UnitedHealth Group Incorporated (NYSE:UNH) by 12.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,505 shares of the healthcare conglomerate’s stock after buying an additional 628 shares during the period. UnitedHealth Group accounts for 1.0% of Palumbo Wealth Management LLC’s holdings, making the stock its 23rd largest position. Palumbo Wealth Management LLC’s holdings in UnitedHealth Group were worth $2,785,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in UNH. bLong Financial LLC acquired a new stake in shares of UnitedHealth Group during the 4th quarter worth $337,000. TigerOak Management L.L.C. bought a new position in UnitedHealth Group in the 4th quarter valued at about $2,361,000. Puff Wealth Management LLC bought a new stake in shares of UnitedHealth Group during the 4th quarter worth approximately $273,000. Lord & Richards Wealth Management LLC bought a new position in UnitedHealth Group in the fourth quarter valued at approximately $515,000. Finally, Hickory Asset Management Inc. bought a new stake in UnitedHealth Group during the fourth quarter worth $559,000. Institutional investors and hedge funds own 87.86% of the company’s stock.

Insider Buying and Selling

In related news, Director Timothy Patrick Flynn purchased 1,000 shares of the stock in a transaction that occurred on Friday, January 17th. The stock was acquired at an average cost of $511.57 per share, with a total value of $511,570.00. Following the transaction, the director now owns 4,500 shares of the company’s stock, valued at $2,302,065. This represents a 28.57 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.33% of the stock is currently owned by company insiders.

UnitedHealth Group Stock Performance

Shares of UnitedHealth Group stock opened at $523.48 on Friday. The business has a 50-day simple moving average of $523.11 and a 200 day simple moving average of $563.18. The firm has a market capitalization of $481.75 billion, a price-to-earnings ratio of 33.77, a PEG ratio of 1.45 and a beta of 0.61. The company has a debt-to-equity ratio of 0.74, a current ratio of 0.83 and a quick ratio of 0.91. UnitedHealth Group Incorporated has a one year low of $436.38 and a one year high of $630.73.

UnitedHealth Group (NYSE:UNH) last issued its earnings results on Thursday, January 16th. The healthcare conglomerate reported $6.81 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $6.74 by $0.07. UnitedHealth Group had a return on equity of 26.69% and a net margin of 3.60%. The company had revenue of $100.81 billion for the quarter, compared to analysts’ expectations of $101.60 billion. During the same period last year, the business earned $5.83 EPS. UnitedHealth Group’s quarterly revenue was up 6.8% compared to the same quarter last year. On average, research analysts anticipate that UnitedHealth Group Incorporated will post 29.54 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

UNH has been the subject of a number of research analyst reports. HSBC raised UnitedHealth Group from a “hold” rating to a “buy” rating and set a $595.00 price target for the company in a report on Friday, January 10th. Piper Sandler reduced their price target on shares of UnitedHealth Group from $605.00 to $600.00 and set an “overweight” rating on the stock in a research note on Thursday, January 2nd. Cantor Fitzgerald reissued an “overweight” rating and issued a $700.00 price objective on shares of UnitedHealth Group in a research note on Friday, January 17th. Deutsche Bank Aktiengesellschaft upped their price target on shares of UnitedHealth Group from $595.00 to $625.00 and gave the stock a “buy” rating in a report on Tuesday, December 3rd. Finally, KeyCorp restated an “overweight” rating and set a $650.00 price objective on shares of UnitedHealth Group in a research report on Friday, January 17th. One analyst has rated the stock with a hold rating, twenty have given a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, UnitedHealth Group currently has an average rating of “Buy” and a consensus price target of $629.32.

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.