Central Bank & Trust Co. Sells 877 Shares of UnitedHealth Group Incorporated (NYSE:UNH)

Posted by Defense World Staff on Jun 25th, 2023

Central Bank & Trust Co. lowered its stake in shares of UnitedHealth Group Incorporated (NYSE:UNH – Get Rating) by 4.1% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 20,354 shares of the healthcare conglomerate’s stock after selling 877 shares during the quarter. UnitedHealth Group makes up approximately 1.7% of Central Bank & Trust Co.’s portfolio, making the stock its 11th largest holding. Central Bank & Trust Co.’s holdings in UnitedHealth Group were worth $9,619,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in the stock. Fragasso Group Inc. grew its position in UnitedHealth Group by 1.6% during the first quarter. Fragasso Group Inc. now owns 19,000 shares of the healthcare conglomerate’s stock valued at $8,979,000 after buying an additional 308 shares during the period. Venture Visionary Partners LLC lifted its holdings in UnitedHealth Group by 7.6% during the first quarter. Venture Visionary Partners LLC now owns 18,440 shares of the healthcare conglomerate’s stock valued at $8,715,000 after purchasing an additional 1,301 shares during the last quarter. Perkins Coie Trust Co lifted its holdings in UnitedHealth Group by 1.7% during the first quarter. Perkins Coie Trust Co now owns 13,999 shares of the healthcare conglomerate’s stock valued at $6,616,000 after purchasing an additional 228 shares during the last quarter. Traverso Chambers Private Wealth Management LLC lifted its holdings in UnitedHealth Group by 16.4% during the first quarter. Traverso Chambers Private Wealth Management LLC now owns 447 shares of the healthcare conglomerate’s stock valued at $211,000 after purchasing an additional 63 shares during the last quarter. Finally, Ocean Capital Management LLC lifted its holdings in UnitedHealth Group by 1.6% during the first quarter. Ocean Capital Management LLC now owns 11,156 shares of the healthcare conglomerate’s stock valued at $5,272,000 after purchasing an additional 177 shares during the last quarter. Institutional investors own 92.61% of the company’s stock.

UnitedHealth Group Stock Down 0.4 %

Shares of NYSE UNH opened at $477.00 on Friday. UnitedHealth Group Incorporated has a one year low of $445.68 and a one year high of $558.10. 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 firm’s 50 day simple moving average is $485.19 and its two-hundred day simple moving average is $492.31. The stock has a market capitalization of $444.10 billion, a P/E ratio of 21.81, a PEG ratio of 1.39 and a beta of 0.68.

UnitedHealth Group (NYSE:UNH – Get Rating) last issued its earnings results on Friday, April 14th. The healthcare conglomerate reported $6.26 earnings per share (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 for the quarter, compared to analysts’ expectations of $89.77 billion. During the same quarter last year, the business earned $5.49 earnings per share. The business’s revenue was up 14.7% on a year-over-year basis. As a group, analysts expect that UnitedHealth Group Incorporated will post 24.86 EPS for the current fiscal year.

UnitedHealth Group Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 27th. Stockholders of record on Monday, June 19th will be issued a $1.88 dividend. This is a boost from UnitedHealth Group’s previous quarterly dividend of $1.65. The ex-dividend date of this dividend is Thursday, June 15th. This represents a $7.52 annualized dividend and a dividend yield of 1.58%. UnitedHealth Group’s dividend payout ratio (DPR) is currently 34.39%.

Analysts Set New Price Targets

Several equities research analysts have commented on UNH shares. Truist Financial dropped their price objective on shares of UnitedHealth Group from $610.00 to $580.00 in a report on Wednesday, June 14th. Loop Capital increased their price target on shares of UnitedHealth Group from $590.00 to $600.00 and gave the stock a “buy” rating in a report on Monday, April 17th. StockNews.com downgraded shares of UnitedHealth Group from a “strong-buy” rating to a “buy” rating in a report on Wednesday, June 14th. Stephens reissued an “overweight” rating and issued a $605.00 price target on shares of UnitedHealth Group in a report on Tuesday, February 28th. Finally, Piper Sandler initiated coverage on shares of UnitedHealth Group in a report on Thursday, May 25th. They issued an “overweight” rating and a $580.00 price target on the stock. One equities research analyst has rated the stock with a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Buy” and an average price target of $592.68.

Insider Transactions at UnitedHealth Group

In related news, EVP Erin Mcsweeney sold 1,008 shares of the firm’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 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 Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CEO Andrew Witty sold 6,160 shares of the firm’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 completion of the sale, the chief executive officer now owns 86,564 shares of the company’s stock, valued at $42,199,084.36. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Erin Mcsweeney sold 1,008 shares of the firm’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 of the company’s stock, valued at approximately $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 worth $4,313,962. Insiders own 0.35% of the company’s stock.

About UnitedHealth Group

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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.