My Legacy Advisors LLC reduced its stake in shares of UnitedHealth Group Incorporated (NYSE:UNH – Get Rating) by 1.1% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 5,780 shares of the healthcare conglomerate’s stock after selling 67 shares during the period. UnitedHealth Group accounts for 1.3% of My Legacy Advisors LLC’s investment portfolio, making the stock its 13th biggest holding. My Legacy Advisors LLC’s holdings in UnitedHealth Group were worth $2,978,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors and hedge funds have also modified their holdings of UNH. Chesapeake Wealth Management boosted its holdings in UnitedHealth Group by 7.0% in the fourth quarter. Chesapeake Wealth Management now owns 4,992 shares of the healthcare conglomerate’s stock worth $2,647,000 after purchasing an additional 326 shares in the last quarter. Two Sigma Investments LP bought a new stake in UnitedHealth Group in the fourth quarter worth $87,114,000. Beaumont Financial Advisors LLC bought a new stake in UnitedHealth Group in the fourth quarter worth $2,299,000. Ruedi Wealth Management Inc. bought a new stake in UnitedHealth Group in the fourth quarter worth $64,000. Finally, Railway Pension Investments Ltd boosted its holdings in UnitedHealth Group by 1.4% in the fourth quarter. Railway Pension Investments Ltd now owns 426,020 shares of the healthcare conglomerate’s stock worth $225,867,000 after purchasing an additional 5,800 shares in the last quarter. 92.61% of the stock is currently owned by hedge funds and other institutional investors.
UnitedHealth Group Price Performance
Shares of UnitedHealth Group stock opened at $476.76 on Thursday. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.71. The stock has a market capitalization of $443.88 billion, a price-to-earnings ratio of 21.80, a P/E/G ratio of 1.34 and a beta of 0.68. UnitedHealth Group Incorporated has a 1-year low of $445.68 and a 1-year high of $558.10. The firm’s 50-day moving average price is $486.82 and its two-hundred day moving average price is $493.14.
UnitedHealth Group Increases Dividend
The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 27th. Stockholders of record on Monday, June 19th will be paid a dividend of $1.88 per share. This is a boost from UnitedHealth Group’s previous quarterly dividend of $1.65. This represents a $7.52 annualized dividend and a dividend yield of 1.58%. The ex-dividend date is Thursday, June 15th. UnitedHealth Group’s dividend payout ratio is 34.39%.
Wall Street Analyst Weigh In
UNH has been the subject of a number of recent analyst reports. JPMorgan Chase & Co. decreased their price target on shares of UnitedHealth Group from $595.00 to $562.00 in a report on Tuesday, May 30th. Deutsche Bank Aktiengesellschaft decreased their price target on shares of UnitedHealth Group from $627.00 to $564.00 in a report on Friday, June 16th. StockNews.com cut shares of UnitedHealth Group from a “strong-buy” rating to a “buy” rating in a report on Wednesday, June 14th. Piper Sandler assumed coverage on shares of UnitedHealth Group in a research report on Thursday, May 25th. They set an “overweight” rating and a $580.00 price objective for the company. Finally, Stephens reaffirmed an “overweight” rating and set a $605.00 price objective on shares of UnitedHealth Group in a research report on Tuesday, February 28th. One analyst has rated the stock with a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus target price of $592.68.
Insider Activity
In other news, EVP Erin Mcsweeney sold 1,008 shares of the stock in a transaction that occurred on Friday, April 21st. The shares were sold at an average price of $484.58, for a total transaction of $488,456.64. Following the sale, the executive vice president now directly owns 10,359 shares of the company’s stock, valued at $5,019,764.22. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other UnitedHealth Group news, EVP Erin Mcsweeney sold 1,008 shares of the firm’s stock in a transaction that occurred 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 transaction, the executive vice president now directly owns 10,359 shares of the company’s stock, valued at $5,019,764.22. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Andrew Witty sold 6,160 shares of the firm’s stock in a transaction that occurred on Thursday, April 27th. The shares were sold at an average price of $487.49, for a total transaction of $3,002,938.40. Following the completion of the transaction, the chief executive officer now directly owns 86,564 shares in the company, valued at $42,199,084.36. The disclosure for this sale can be found here. Insiders have sold 8,852 shares of company stock valued at $4,313,962 over the last three months. 0.35% of the stock is owned by insiders.
About UnitedHealth Group
UnitedHealth Group Incorporated operates as a diversified health care company in the United States. It 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.
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