Legacy Capital Wealth Partners LLC Boosts Stake in UnitedHealth Group Incorporated (NYSE:UNH)

Legacy Capital Wealth Partners LLC increased its position in UnitedHealth Group Incorporated (NYSE:UNH) by 88.0% during the third quarter, Holdings Channel.com reports. The institutional investor owned 7,422 shares of the healthcare conglomerate’s stock after purchasing an additional 3,475 shares during the period. UnitedHealth Group accounts for 0.7% of Legacy Capital Wealth Partners LLC’s investment portfolio, making the stock its 22nd largest holding. Legacy Capital Wealth Partners LLC’s holdings in UnitedHealth Group were worth $4,340,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the company. Axxcess Wealth Management LLC grew its stake in shares of UnitedHealth Group by 0.4% during the third quarter. Axxcess Wealth Management LLC now owns 30,955 shares of the healthcare conglomerate’s stock valued at $18,099,000 after buying an additional 138 shares during the last quarter. Sigma Planning Corp grew its stake in shares of UnitedHealth Group by 1.0% during the third quarter. Sigma Planning Corp now owns 15,072 shares of the healthcare conglomerate’s stock valued at $8,812,000 after buying an additional 144 shares during the last quarter. Costello Asset Management INC grew its stake in shares of UnitedHealth Group by 0.6% during the third quarter. Costello Asset Management INC now owns 6,685 shares of the healthcare conglomerate’s stock valued at $3,909,000 after buying an additional 37 shares during the last quarter. Ted Buchan & Co grew its stake in shares of UnitedHealth Group by 24.6% during the third quarter. Ted Buchan & Co now owns 4,278 shares of the healthcare conglomerate’s stock valued at $2,501,000 after buying an additional 845 shares during the last quarter. Finally, Mesirow Financial Investment Management Inc. grew its stake in UnitedHealth Group by 1.3% in the third quarter. Mesirow Financial Investment Management Inc. now owns 48,064 shares of the healthcare conglomerate’s stock worth $28,108,000 after purchasing an additional 629 shares in the last quarter. 87.86% of the stock is currently owned by hedge funds and other institutional investors.

UnitedHealth Group Stock Up 1.7 %

NYSE:UNH opened at $615.81 on Friday. The company’s 50 day moving average is $581.93 and its two-hundred day moving average is $545.03. The company has a market cap of $566.72 billion, a PE ratio of 40.12, a P/E/G ratio of 1.81 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 twelve month low of $436.38 and a twelve month high of $619.80.

UnitedHealth Group (NYSE:UNH) last released its quarterly earnings data on Tuesday, October 15th. The healthcare conglomerate reported $7.15 EPS for the quarter, beating the consensus estimate of $7.00 by $0.15. The business had revenue of $100.82 billion for the quarter, compared to the consensus estimate of $99.14 billion. UnitedHealth Group had a net margin of 3.63% and a return on equity of 26.37%. The business’s revenue for the quarter was up 9.2% on a year-over-year basis. During the same period in the prior year, the firm earned $6.56 EPS. Analysts anticipate that UnitedHealth Group Incorporated will post 27.61 EPS for the current year.

UnitedHealth Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 17th. Stockholders of record on Monday, December 9th will be issued a $2.10 dividend. This represents a $8.40 annualized dividend and a dividend yield of 1.36%. The ex-dividend date of this dividend is Monday, December 9th. UnitedHealth Group’s dividend payout ratio (DPR) is currently 54.72%.

Analyst Ratings Changes

Several research analysts recently issued reports on UNH shares. Jefferies Financial Group raised UnitedHealth Group from a “hold” rating to a “buy” rating and increased their price objective for the stock from $481.00 to $647.00 in a research note on Wednesday, July 17th. Morgan Stanley dropped their price objective on UnitedHealth Group from $615.00 to $610.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 16th. UBS Group reduced their price target on UnitedHealth Group from $680.00 to $650.00 and set a “buy” rating for the company in a research report on Wednesday, October 16th. Stephens reduced their price target on UnitedHealth Group from $632.00 to $605.00 and set an “overweight” rating for the company in a research report on Wednesday, October 16th. Finally, Robert W. Baird boosted their price objective on shares of UnitedHealth Group from $597.00 to $640.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 17th. Four equities research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $615.53.

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.