Dakota Wealth Management Sells 14,608 Shares of UnitedHealth Group Incorporated (NYSE:UNH)

Posted by Defense World Staff on Jun 27th, 2023

Dakota Wealth Management trimmed its stake in shares of UnitedHealth Group Incorporated (NYSE:UNH – Get Rating) by 41.6% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 20,518 shares of the healthcare conglomerate’s stock after selling 14,608 shares during the quarter. Dakota Wealth Management’s holdings in UnitedHealth Group were worth $9,697,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently made changes to their positions in UNH. Moneta Group Investment Advisors LLC grew its position in shares of UnitedHealth Group by 100,076.4% in the 4th 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 last quarter. Norges Bank bought a new stake in UnitedHealth Group in the fourth quarter valued at $5,210,004,000. Arrowstreet Capital Limited Partnership raised its holdings in UnitedHealth Group by 1,682.4% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 2,691,542 shares of the healthcare conglomerate’s stock worth $1,372,606,000 after purchasing an additional 2,540,538 shares in the last quarter. Morgan Stanley boosted its stake in shares of UnitedHealth Group by 13.8% during the 4th quarter. Morgan Stanley now owns 15,635,038 shares of the healthcare conglomerate’s stock valued at $8,289,386,000 after purchasing an additional 1,893,192 shares in the last quarter. Finally, Vanguard Group Inc. raised its stake in UnitedHealth Group by 1.0% in 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 in the last quarter. Hedge funds and other institutional investors own 92.61% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on UNH shares. JPMorgan Chase & Co. decreased their target price on UnitedHealth Group from $595.00 to $562.00 in a research report on Tuesday, May 30th. Loop Capital boosted their target price on shares of UnitedHealth Group from $590.00 to $600.00 and gave the company a “buy” rating in a report on Monday, April 17th. Cantor Fitzgerald began coverage on shares of UnitedHealth Group in a research note on Thursday, April 20th. They set an “overweight” rating and a $591.00 price objective on the stock. Truist Financial lowered their target price on shares of UnitedHealth Group from $610.00 to $580.00 in a report on Wednesday, June 14th. Finally, Deutsche Bank Aktiengesellschaft lowered their price objective on UnitedHealth Group from $627.00 to $564.00 in a research note on Friday, June 16th. One investment analyst has rated the stock with a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Buy” and a consensus price target of $592.68.

Insider Activity at UnitedHealth Group

In related news, EVP Erin Mcsweeney sold 1,684 shares of UnitedHealth Group stock in a transaction on Monday, April 24th. The stock was sold at an average price of $488.46, for a total transaction of $822,566.64. Following the transaction, the executive vice president now directly owns 8,675 shares in the company, valued at $4,237,390.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, EVP Erin Mcsweeney sold 1,684 shares of the stock in a transaction dated Monday, April 24th. The stock was sold at an average price of $488.46, for a total transaction of $822,566.64. Following the completion of the sale, the executive vice president now owns 8,675 shares in the company, valued at $4,237,390.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Andrew Witty sold 6,160 shares of the stock in a transaction dated 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 sale, the chief executive officer now owns 86,564 shares of the company’s stock, valued at approximately $42,199,084.36. The disclosure for this sale can be found here. Over the last three months, insiders have sold 8,852 shares of company stock worth $4,313,962. Corporate insiders own 0.35% of the company’s stock.

UnitedHealth Group Trading Up 0.5 %

Shares of UNH stock opened at $479.20 on Tuesday. The stock has a market capitalization of $446.15 billion, a P/E ratio of 21.91, a P/E/G ratio of 1.39 and a beta of 0.68. UnitedHealth Group Incorporated has a 12-month low of $445.68 and a 12-month high of $558.10. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.71. The firm’s 50 day moving average is $484.66 and its 200 day moving average is $491.47.

UnitedHealth Group (NYSE:UNH – Get Rating) last announced 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 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 analysts’ expectations of $89.77 billion. During the same period last year, the firm posted $5.49 earnings per share. The business’s revenue for the quarter was up 14.7% on a year-over-year basis. Research analysts expect that UnitedHealth Group Incorporated will post 24.86 earnings per share for the current year.

UnitedHealth Group Increases Dividend

The firm 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 $1.88 dividend. This represents a $7.52 annualized dividend and a dividend yield of 1.57%. The ex-dividend date of this dividend is Thursday, June 15th. This is a boost from UnitedHealth Group’s previous quarterly dividend of $1.65. UnitedHealth Group’s dividend payout ratio is 34.39%.

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.