Washburn Capital Management Inc. Decreases Stock Holdings in UnitedHealth Group Incorporated (NYSE:UNH)

Posted by Defense World Staff on Jun 27th, 2023

Washburn Capital Management Inc. trimmed its position in shares of UnitedHealth Group Incorporated (NYSE:UNH – Get Rating) by 13.6% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,485 shares of the healthcare conglomerate’s stock after selling 550 shares during the period. UnitedHealth Group makes up approximately 1.4% of Washburn Capital Management Inc.’s holdings, making the stock its 14th biggest holding. Washburn Capital Management Inc.’s holdings in UnitedHealth Group were worth $1,647,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the company. Moneta Group Investment Advisors LLC increased its position in shares of UnitedHealth Group by 100,076.4% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 11,823,820 shares of the healthcare conglomerate’s stock valued at $6,268,753,000 after purchasing an additional 11,812,017 shares during the last quarter. Norges Bank bought a new position in UnitedHealth Group in the 4th quarter valued at $5,210,004,000. Arrowstreet Capital Limited Partnership grew its position 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 valued at $1,372,606,000 after acquiring an additional 2,540,538 shares during the last quarter. Morgan Stanley grew its position in UnitedHealth Group by 13.8% in the 4th quarter. Morgan Stanley now owns 15,635,038 shares of the healthcare conglomerate’s stock valued at $8,289,386,000 after acquiring an additional 1,893,192 shares during the last quarter. Finally, Vanguard Group Inc. grew its position in UnitedHealth Group by 1.0% in the 3rd quarter. Vanguard Group Inc. now owns 82,969,869 shares of the healthcare conglomerate’s stock valued at $41,903,103,000 after acquiring an additional 851,994 shares during the last quarter. 92.61% of the stock is owned by hedge funds and other institutional investors.

UnitedHealth Group Trading Up 0.5 %

UnitedHealth Group stock opened at $479.20 on Tuesday. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 0.71. UnitedHealth Group Incorporated has a 52 week low of $445.68 and a 52 week high of $558.10. The company has a market capitalization of $446.15 billion, a price-to-earnings ratio of 21.91, a price-to-earnings-growth ratio of 1.39 and a beta of 0.68. The stock has a 50-day moving average price of $484.66 and a 200 day moving average price of $491.47.

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 analysts’ consensus estimates of $6.24 by $0.02. The firm had revenue of $91.93 billion during the quarter, compared to the consensus estimate of $89.77 billion. UnitedHealth Group had a return on equity of 27.05% and a net margin of 6.16%. The company’s revenue was up 14.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $5.49 earnings per share. Sell-side analysts anticipate that UnitedHealth Group Incorporated will post 24.86 EPS for the current year.

UnitedHealth Group Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 27th. Investors of record on Monday, June 19th will be given a dividend of $1.88 per share. This is a boost 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 (DPR) is currently 34.39%.

Wall Street Analyst Weigh In

Several brokerages have commented on UNH. Stephens reaffirmed an “overweight” rating and issued a $605.00 price objective on shares of UnitedHealth Group in a research report on Tuesday, February 28th. JPMorgan Chase & Co. lowered their target price on UnitedHealth Group from $595.00 to $562.00 in a report on Tuesday, May 30th. Raymond James reiterated a “strong-buy” rating and issued a $630.00 target price on shares of UnitedHealth Group in a report on Friday, April 14th. Cantor Fitzgerald started coverage on UnitedHealth Group in a report on Thursday, April 20th. They issued an “overweight” rating and a $591.00 target price for the company. Finally, StockNews.com downgraded UnitedHealth Group from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, June 14th. One equities research analyst has rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, UnitedHealth Group currently has a consensus rating of “Buy” and a consensus price target of $592.68.

Insider Activity at UnitedHealth Group

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

UnitedHealth Group Company 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.