Jupiter Wealth Management LLC Takes Position in UnitedHealth Group Incorporated (NYSE:UNH)

Posted by Defense World Staff on Jun 25th, 2023

Jupiter Wealth Management LLC bought a new stake in UnitedHealth Group Incorporated (NYSE:UNH – Get Rating) in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 700 shares of the healthcare conglomerate’s stock, valued at approximately $331,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of UNH. Vanguard Group Inc. boosted its stake in 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 boosted its stake 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 buying an additional 247,997 shares during the period. Morgan Stanley boosted its stake 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 buying an additional 1,893,192 shares during the period. Moneta Group Investment Advisors LLC boosted its stake 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 buying an additional 11,812,017 shares during the period. Finally, Alliancebernstein L.P. boosted its stake 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 buying an additional 414,032 shares during the period. 92.61% of the stock is owned by hedge funds and other institutional investors.

UnitedHealth Group Stock Performance

Shares of UnitedHealth Group stock opened at $477.00 on Friday. The company has a market capitalization of $444.10 billion, a PE ratio of 21.81, a P/E/G ratio of 1.39 and a beta of 0.68. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.81 and a current ratio of 0.81. The company has a 50-day simple moving average of $485.19 and a two-hundred day simple moving average of $492.31. UnitedHealth Group Incorporated has a one year low of $445.68 and a one year high of $558.10.

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 for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $89.77 billion. During the same quarter in the previous year, the firm earned $5.49 earnings per share. The company’s revenue was up 14.7% on a year-over-year basis. Research analysts expect that UnitedHealth Group Incorporated will post 24.86 EPS for the current fiscal year.

UnitedHealth Group Increases Dividend

The firm 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 positive change 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 dividend on an annualized basis and a dividend yield of 1.58%. UnitedHealth Group’s payout ratio is presently 34.39%.

Insider Activity at UnitedHealth Group

In related news, EVP Erin Mcsweeney sold 1,684 shares of the company’s stock in a transaction that occurred on Monday, April 24th. The stock was sold at an average price of $488.46, for a total value of $822,566.64. Following the sale, the executive vice president now owns 8,675 shares in the company, valued at $4,237,390.50. The sale was disclosed in a legal filing with the SEC, which is available through this link. In related news, EVP Erin Mcsweeney sold 1,684 shares of the company’s stock in a transaction that occurred on Monday, April 24th. The stock was sold at an average price of $488.46, for a total value of $822,566.64. Following the sale, the executive vice president now owns 8,675 shares in the company, valued at $4,237,390.50. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Andrew Witty sold 6,160 shares of the company’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 value of $3,002,938.40. Following the completion of the sale, the chief executive officer now owns 86,564 shares in the company, valued at approximately $42,199,084.36. The disclosure for this sale can be found here. Insiders have sold a total of 8,852 shares of company stock worth $4,313,962 over the last quarter. Insiders own 0.35% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the company. SVB Securities decreased their target price on UnitedHealth Group from $625.00 to $560.00 in a research report on Wednesday, June 14th. Royal Bank of Canada reiterated an “outperform” rating and set a $592.00 target price on shares of UnitedHealth Group in a research report on Monday, April 17th. Raymond James reiterated a “strong-buy” rating and set a $630.00 target price on shares of UnitedHealth Group in a research report on Friday, April 14th. Cantor Fitzgerald began coverage on UnitedHealth Group in a research report on Thursday, April 20th. They set an “overweight” rating and a $591.00 target price for the company. Finally, Oppenheimer restated an “outperform” rating and issued a $610.00 price objective on shares of UnitedHealth Group in a report on Monday, April 17th. One research analyst has rated the stock with a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, UnitedHealth Group currently has a consensus rating of “Buy” and a consensus price target of $592.68.

UnitedHealth Group Company Profile

(Get Rating)

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.