Old Port Advisors decreased its holdings in shares of UnitedHealth Group Incorporated (NYSE:UNH – Get Rating) by 3.1% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm owned 897 shares of the healthcare conglomerate’s stock after selling 29 shares during the period. Old Port Advisors’ holdings in UnitedHealth Group were worth $467,000 at the end of the most recent quarter.
Several other hedge funds have also made changes to their positions in the business. Vanguard Group Inc. boosted its stake in shares of UnitedHealth Group by 1.0% during the third quarter. Vanguard Group Inc. now owns 82,969,869 shares of the healthcare conglomerate’s stock worth $41,903,103,000 after buying an additional 851,994 shares during the period. Geode Capital Management LLC raised its holdings in UnitedHealth Group by 1.5% during the fourth quarter. Geode Capital Management LLC now owns 16,858,436 shares of the healthcare conglomerate’s stock worth $8,921,651,000 after purchasing an additional 247,997 shares in the last quarter. Morgan Stanley raised its holdings in UnitedHealth Group by 13.8% during the fourth quarter. Morgan Stanley now owns 15,635,038 shares of the healthcare conglomerate’s stock worth $8,289,386,000 after purchasing an additional 1,893,192 shares in the last quarter. Moneta Group Investment Advisors LLC raised its holdings in UnitedHealth Group by 100,076.4% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 11,823,820 shares of the healthcare conglomerate’s stock worth $6,268,753,000 after purchasing an additional 11,812,017 shares in the last quarter. Finally, Alliancebernstein L.P. raised its holdings 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 in the last quarter. Institutional investors and hedge funds own 92.61% of the company’s stock.
Insider Activity
In other news, EVP Erin Mcsweeney sold 1,008 shares of the business’s 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 sale, the executive vice president now directly owns 10,359 shares of the company’s stock, valued at approximately $5,019,764.22. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, 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 transaction of $488,456.64. Following the completion of the sale, the executive vice president now directly owns 10,359 shares of the company’s stock, valued at approximately $5,019,764.22. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, 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 transaction of $3,002,938.40. Following the sale, the chief executive officer now directly owns 86,564 shares of the company’s stock, valued at $42,199,084.36. The disclosure for this sale can be found here. Insiders sold 8,852 shares of company stock valued at $4,313,962 in the last ninety days. Company insiders own 0.35% of the company’s stock.
UnitedHealth Group Stock Down 0.4 %
UnitedHealth Group (NYSE:UNH – Get Rating) last released its earnings results on Friday, April 14th. The healthcare conglomerate reported $6.26 EPS for the quarter, topping the consensus estimate of $6.24 by $0.02. UnitedHealth Group had a net margin of 6.16% and a return on equity of 27.05%. The firm had revenue of $91.93 billion during the quarter, compared to analysts’ expectations of $89.77 billion. During the same period in the previous year, the company earned $5.49 EPS. UnitedHealth Group’s revenue for the quarter was up 14.7% on a year-over-year basis. As a group, sell-side analysts expect that UnitedHealth Group Incorporated will post 24.86 EPS for the current year.
UnitedHealth Group Increases Dividend
The business also recently disclosed 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. The ex-dividend date is Thursday, June 15th. 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%. UnitedHealth Group’s payout ratio is currently 34.39%.
Wall Street Analysts Forecast Growth
Several research firms recently issued reports on UNH. Piper Sandler began coverage on shares of UnitedHealth Group in a report on Thursday, May 25th. They set an “overweight” rating and a $580.00 price target for the company. TD Cowen reduced their price target on shares of UnitedHealth Group from $596.00 to $562.00 and set an “outperform” rating for the company in a research report on Monday, April 17th. StockNews.com downgraded shares of UnitedHealth Group from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, June 14th. SVB Securities reduced their price target on shares of UnitedHealth Group from $625.00 to $560.00 in a research report on Wednesday, June 14th. Finally, Truist Financial reduced their price target on shares of UnitedHealth Group from $610.00 to $580.00 in a research report on Wednesday, June 14th. One analyst has rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus target price of $592.68.
UnitedHealth Group Company Profile
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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