Cary Street Partners Asset Management LLC trimmed its holdings in shares of UnitedHealth Group Incorporated (NYSE:UNH – Get Rating) by 17.3% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 153 shares of the healthcare conglomerate’s stock after selling 32 shares during the quarter. Cary Street Partners Asset Management LLC’s holdings in UnitedHealth Group were worth $81,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Investors Research Corp grew its position in shares of UnitedHealth Group by 51.1% during the fourth quarter. Investors Research Corp now owns 71 shares of the healthcare conglomerate’s stock worth $38,000 after buying an additional 24 shares in the last quarter. Legend Financial Advisors Inc. acquired a new position in shares of UnitedHealth Group during the third quarter worth about $37,000. Bourgeon Capital Management LLC grew its position in shares of UnitedHealth Group by 192.3% during the fourth quarter. Bourgeon Capital Management LLC now owns 76 shares of the healthcare conglomerate’s stock worth $40,000 after buying an additional 50 shares in the last quarter. WFA of San Diego LLC purchased a new stake in UnitedHealth Group during the fourth quarter worth approximately $42,000. Finally, CarsonAllaria Wealth Management Ltd. purchased a new stake in UnitedHealth Group during the fourth quarter worth approximately $42,000. 86.31% of the stock is owned by institutional investors and hedge funds.
UnitedHealth Group Trading Down 0.2 %
NYSE:UNH opened at $492.59 on Tuesday. The stock’s 50 day simple moving average is $492.92 and its 200-day simple moving average is $496.18. UnitedHealth Group Incorporated has a 12-month low of $449.70 and a 12-month high of $558.10. The firm has a market cap of $458.62 billion, a P/E ratio of 22.52, a PEG ratio of 1.43 and a beta of 0.68. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.71.
UnitedHealth Group Increases Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 27th. Investors of record on Monday, June 19th will be issued a dividend of $1.88 per share. This represents a $7.52 dividend on an annualized basis and a yield of 1.53%. The ex-dividend date of this dividend is Thursday, June 15th. This is a positive change from UnitedHealth Group’s previous quarterly dividend of $1.65. UnitedHealth Group’s dividend payout ratio is currently 30.18%.
Insider Buying and Selling at UnitedHealth Group
In other UnitedHealth Group news, CEO Andrew Witty sold 6,160 shares of the company’s stock in a transaction on Thursday, April 27th. The stock was sold at an average price of $487.49, for a total value of $3,002,938.40. Following the sale, the chief executive officer now owns 86,564 shares of the company’s stock, valued at $42,199,084.36. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other UnitedHealth Group news, CEO Andrew Witty sold 6,160 shares of the company’s stock in a transaction on Thursday, April 27th. The stock was sold at an average price of $487.49, for a total value of $3,002,938.40. Following the sale, the chief executive officer now owns 86,564 shares of the company’s stock, valued at $42,199,084.36. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Erin Mcsweeney sold 1,008 shares of the company’s stock in a transaction on Friday, April 21st. The shares were sold at an average price of $484.58, for a total value of $488,456.64. Following the completion of the sale, the executive vice president now owns 10,359 shares in the company, valued at $5,019,764.22. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 8,852 shares of company stock valued at $4,313,962. Insiders own 0.35% of the company’s stock.
Analyst Upgrades and Downgrades
UNH has been the subject of several recent analyst reports. JPMorgan Chase & Co. decreased their target price on UnitedHealth Group from $595.00 to $562.00 in a research note on Tuesday, May 30th. Royal Bank of Canada restated an “outperform” rating and set a $592.00 target price on shares of UnitedHealth Group in a research note on Monday, April 17th. TD Cowen reduced their price objective on UnitedHealth Group from $596.00 to $562.00 and set an “outperform” rating for the company in a research note on Monday, April 17th. Cantor Fitzgerald began coverage on UnitedHealth Group in a research note on Thursday, April 20th. They issued an “overweight” rating and a $591.00 price objective for the company. Finally, Stephens reiterated an “overweight” rating and issued a $605.00 price objective on shares of UnitedHealth Group in a research note on Tuesday, February 28th. One analyst has rated the stock with a hold rating, thirteen have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, UnitedHealth Group currently has a consensus rating of “Buy” and a consensus price target of $599.06.
UnitedHealth Group Company Profile
UnitedHealth Group, Inc engages in the provision of health care coverage, software, and data consultancy services. It operates through the following segments: UnitedHealthcare, OptumHealth, OptumInsight, and OptumRx. The UnitedHealthcare segment utilizes Optum’s capabilities to help coordinate patient care, improve affordability of medical care, analyze cost trends, manage pharmacy benefits, work with care providers more effectively, and create a simpler consumer experience.
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