Grassi Investment Management Purchases 100 Shares of UnitedHealth Group Incorporated (NYSE:UNH)

Posted by Defense World Staff on Jun 23rd, 2023

Grassi Investment Management lifted its position in UnitedHealth Group Incorporated (NYSE:UNH – Get Rating) by 17.1% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 685 shares of the healthcare conglomerate’s stock after acquiring an additional 100 shares during the quarter. Grassi Investment Management’s holdings in UnitedHealth Group were worth $324,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in UNH. Chelsea Counsel Co. bought a new position in UnitedHealth Group in the fourth quarter worth about $27,000. Freedom Wealth Alliance LLC purchased a new stake in shares of UnitedHealth Group during the fourth quarter worth about $31,000. Legend Financial Advisors Inc. purchased a new stake in shares of UnitedHealth Group during the third quarter worth about $37,000. Investors Research Corp grew its stake 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 acquiring an additional 24 shares during the last quarter. Finally, Bourgeon Capital Management LLC grew its stake 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 acquiring an additional 50 shares during the last quarter. 92.61% of the stock is currently owned by institutional investors.

Insider Activity at UnitedHealth Group

In other UnitedHealth Group news, EVP Erin Mcsweeney sold 1,008 shares of the company’s stock in a transaction on Friday, April 21st. The stock was 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 directly owns 10,359 shares in the company, valued at approximately $5,019,764.22. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. In other news, CEO Andrew Witty sold 6,160 shares of the stock in a transaction on Thursday, April 27th. The stock was 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 approximately $42,199,084.36. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Erin Mcsweeney sold 1,008 shares of the stock in a transaction on Friday, April 21st. The stock was sold at an average price of $484.58, for a total value of $488,456.64. Following the transaction, the executive vice president now owns 10,359 shares of the company’s stock, valued at $5,019,764.22. The disclosure for this sale can be found here. In the last ninety days, insiders sold 8,852 shares of company stock valued at $4,313,962. 0.35% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on UNH shares. Deutsche Bank Aktiengesellschaft dropped their price target on UnitedHealth Group from $627.00 to $564.00 in a research note on Friday, June 16th. Piper Sandler initiated coverage on UnitedHealth Group in a research report on Thursday, May 25th. They issued an “overweight” rating and a $580.00 target price on the stock. Oppenheimer reiterated an “outperform” rating and issued a $610.00 target price on shares of UnitedHealth Group in a research report on Monday, April 17th. Raymond James reiterated a “strong-buy” rating and issued a $630.00 target price on shares of UnitedHealth Group in a research report on Friday, April 14th. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $592.00 target price on shares of UnitedHealth Group in a research report on Monday, April 17th. One research analyst has rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average price target of $592.68.

UnitedHealth Group Trading Up 0.5 %

Shares of UNH stock opened at $479.19 on Friday. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.81 and a quick ratio of 0.81. The company has a market cap of $446.14 billion, a price-to-earnings ratio of 21.91, a PEG ratio of 1.34 and a beta of 0.68. The stock has a 50 day simple moving average of $485.88 and a 200-day simple moving average of $493.04. UnitedHealth Group Incorporated has a 1-year low of $445.68 and a 1-year high of $558.10.

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

UnitedHealth Group Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 27th. Investors of record on Monday, June 19th will be paid a $1.88 dividend. This is an increase from UnitedHealth Group’s previous quarterly dividend of $1.65. This represents a $7.52 annualized dividend and a yield of 1.57%. The ex-dividend date of this dividend is Thursday, June 15th. UnitedHealth Group’s dividend payout ratio is currently 34.39%.

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.