Riverwater Partners LLC Increases Stock Position in UnitedHealth Group Incorporated (NYSE:UNH)

Posted by on Jun 23rd, 2023

Riverwater Partners LLC raised its stake in shares of UnitedHealth Group Incorporated (NYSE:UNH – Get Rating) by 13.6% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,410 shares of the healthcare conglomerate’s stock after purchasing an additional 289 shares during the period. UnitedHealth Group accounts for 1.0% of Riverwater Partners LLC’s holdings, making the stock its 19th biggest position. Riverwater Partners LLC’s holdings in UnitedHealth Group were worth $1,139,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Vanguard Group Inc. raised its position in shares of UnitedHealth Group by 1.0% in the third quarter. Vanguard Group Inc. now owns 82,969,869 shares of the healthcare conglomerate’s stock valued at $41,903,103,000 after buying an additional 851,994 shares during the last quarter. Geode Capital Management LLC raised its position in shares of UnitedHealth Group by 1.5% in the fourth quarter. Geode Capital Management LLC now owns 16,858,436 shares of the healthcare conglomerate’s stock valued at $8,921,651,000 after buying an additional 247,997 shares during the last quarter. Morgan Stanley raised its position in shares of UnitedHealth Group by 13.8% in the fourth quarter. Morgan Stanley now owns 15,635,038 shares of the healthcare conglomerate’s stock valued at $8,289,386,000 after buying an additional 1,893,192 shares during the last quarter. Moneta Group Investment Advisors LLC raised its position in shares of UnitedHealth Group by 100,076.4% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 11,823,820 shares of the healthcare conglomerate’s stock valued at $6,268,753,000 after buying an additional 11,812,017 shares during the last quarter. Finally, Alliancebernstein L.P. increased its position in UnitedHealth Group by 4.1% during the fourth quarter. Alliancebernstein L.P. now owns 10,499,294 shares of the healthcare conglomerate’s stock worth $5,566,516,000 after purchasing an additional 414,032 shares during the last quarter. 92.61% of the stock is owned by hedge funds and other institutional investors.

UnitedHealth Group Stock Up 0.5 %

Shares of UnitedHealth Group stock opened at $479.19 on Friday. UnitedHealth Group Incorporated has a 52-week low of $445.68 and a 52-week high of $558.10. The company has a 50 day moving average of $485.88 and a 200 day moving average of $493.04. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 0.71. The company has a market capitalization of $446.14 billion, a P/E ratio of 21.91, a P/E/G ratio of 1.34 and a beta of 0.68.

UnitedHealth Group (NYSE:UNH – Get Rating) last issued its quarterly earnings results on Friday, April 14th. The healthcare conglomerate reported $6.26 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $6.24 by $0.02. UnitedHealth Group had a net margin of 6.16% and a return on equity of 27.05%. The company had revenue of $91.93 billion during the quarter, compared to the consensus estimate of $89.77 billion. During the same quarter in the previous year, the firm earned $5.49 earnings per share. The firm’s quarterly revenue was up 14.7% on a year-over-year basis. As a group, research analysts forecast that UnitedHealth Group Incorporated will post 24.86 EPS for the current fiscal year.

UnitedHealth Group Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 27th. Shareholders of record on Monday, June 19th will be issued a dividend of $1.88 per share. The ex-dividend date of this dividend is Thursday, June 15th. This represents a $7.52 dividend on an annualized basis and a yield of 1.57%. This is a boost from UnitedHealth Group’s previous quarterly dividend of $1.65. UnitedHealth Group’s dividend payout ratio (DPR) is presently 34.39%.

Analyst Ratings Changes

UNH has been the subject of several recent analyst reports. Stephens restated an “overweight” rating and set a $605.00 price objective on shares of UnitedHealth Group in a research report on Tuesday, February 28th. Raymond James restated a “strong-buy” rating and set a $630.00 price objective on shares of UnitedHealth Group in a research report on Friday, April 14th. Piper Sandler started 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. Truist Financial lowered their target price on shares of UnitedHealth Group from $610.00 to $580.00 in a research note on Wednesday, June 14th. Finally, SVB Securities lowered their target price on shares of UnitedHealth Group from $625.00 to $560.00 in a research note on Wednesday, June 14th. One equities research analyst has rated the stock with a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Buy” and an average price target of $592.68.

Insiders Place Their Bets

In other news, CEO Andrew Witty sold 6,160 shares of UnitedHealth Group stock in a transaction on Thursday, April 27th. The shares were sold at an average price of $487.49, for a total value of $3,002,938.40. Following the transaction, the chief executive officer now directly owns 86,564 shares of the company’s stock, valued at approximately $42,199,084.36. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CEO Andrew Witty sold 6,160 shares of UnitedHealth Group stock in a transaction on Thursday, April 27th. The shares were sold at an average price of $487.49, for a total value of $3,002,938.40. Following the transaction, the chief executive officer now directly owns 86,564 shares of the company’s stock, valued at approximately $42,199,084.36. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Erin Mcsweeney sold 1,008 shares of UnitedHealth Group stock in a transaction 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 completion of the transaction, the executive vice president now directly 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 quarter, insiders have sold 8,852 shares of company stock valued at $4,313,962. 0.35% of the stock is owned by corporate insiders.

UnitedHealth Group Profile

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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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Institutional Ownership by Quarter for UnitedHealth Group (NYSE:UNH)

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