MGO Private Wealth LLC Sells 290 Shares of UnitedHealth Group Incorporated (NYSE:UNH)

Posted by Defense World Staff on Jun 28th, 2023

MGO Private Wealth LLC cut its position in UnitedHealth Group Incorporated (NYSE:UNH – Get Rating) by 35.7% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 523 shares of the healthcare conglomerate’s stock after selling 290 shares during the quarter. MGO Private Wealth LLC’s holdings in UnitedHealth Group were worth $247,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Spectrum Asset Management Inc. NB CA grew its position in shares of UnitedHealth Group by 14.7% in the 1st quarter. Spectrum Asset Management Inc. NB CA now owns 1,153 shares of the healthcare conglomerate’s stock valued at $545,000 after buying an additional 148 shares during the last quarter. WoodTrust Financial Corp boosted its holdings in UnitedHealth Group by 2.4% in the first quarter. WoodTrust Financial Corp now owns 21,525 shares of the healthcare conglomerate’s stock valued at $10,172,000 after acquiring an additional 513 shares during the last quarter. WP Advisors LLC lifted its position in shares of UnitedHealth Group by 1.9% in the 1st quarter. WP Advisors LLC now owns 4,444 shares of the healthcare conglomerate’s stock worth $2,100,000 after purchasing an additional 85 shares during the period. Asset Management Corp IL ADV increased its position in shares of UnitedHealth Group by 25.7% during the first quarter. Asset Management Corp IL ADV now owns 1,929 shares of the healthcare conglomerate’s stock worth $912,000 after buying an additional 395 shares during the period. Finally, AE Wealth Management LLC grew its holdings in UnitedHealth Group by 11.8% during the 1st quarter. AE Wealth Management LLC now owns 124,982 shares of the healthcare conglomerate’s stock worth $59,065,000 after acquiring an additional 13,216 shares during the period. Institutional investors and hedge funds own 92.61% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the company. 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. TD Cowen dropped their target price on shares of UnitedHealth Group from $596.00 to $562.00 and set an “outperform” rating on the stock in a research report on Monday, April 17th. Truist Financial decreased their price target on shares of UnitedHealth Group from $610.00 to $580.00 in a research note on Wednesday, June 14th. Loop Capital boosted their target price on UnitedHealth Group from $590.00 to $600.00 and gave the company a “buy” rating in a research report on Monday, April 17th. Finally, SVB Securities cut their price target on UnitedHealth Group from $625.00 to $560.00 in a report on Wednesday, June 14th. 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. According to MarketBeat.com, the stock has a consensus rating of “Buy” and an average target price of $592.68.

UnitedHealth Group Stock Performance

UNH stock opened at $482.69 on Wednesday. The business has a 50 day moving average of $484.23 and a 200-day moving average of $491.07. 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 12-month low of $445.68 and a 12-month high of $558.10. The firm has a market cap of $449.40 billion, a PE ratio of 22.07, a P/E/G ratio of 1.40 and a beta of 0.68.

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. The company had revenue of $91.93 billion for the quarter, compared to the consensus estimate of $89.77 billion. UnitedHealth Group had a net margin of 6.16% and a return on equity of 27.05%. The firm’s quarterly revenue was up 14.7% on a year-over-year basis. During the same period in the previous year, the firm earned $5.49 EPS. As a group, sell-side analysts expect that UnitedHealth Group Incorporated will post 24.86 earnings per share for the current year.

UnitedHealth Group Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, June 27th. Stockholders of record on Monday, June 19th were given a dividend of $1.88 per share. This represents a $7.52 dividend on an annualized basis and a dividend yield of 1.56%. The ex-dividend date was Thursday, June 15th. This is a boost from UnitedHealth Group’s previous quarterly dividend of $1.65. UnitedHealth Group’s dividend payout ratio is currently 34.39%.

Insider Buying and Selling at UnitedHealth Group

In related news, 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 transaction of $3,002,938.40. Following the sale, the chief executive officer now directly owns 86,564 shares in the company, valued at approximately $42,199,084.36. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other UnitedHealth Group news, CEO Andrew Witty sold 6,160 shares of the firm’s 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 completion of the transaction, the chief executive officer now owns 86,564 shares in the company, valued at approximately $42,199,084.36. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Erin Mcsweeney sold 1,008 shares of the stock in a transaction dated 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 sale, the executive vice president now directly owns 10,359 shares in the company, valued at $5,019,764.22. The disclosure for this sale can be found here. Insiders have sold a total of 8,852 shares of company stock valued at $4,313,962 over the last three months. 0.35% of the stock is currently owned by insiders.

UnitedHealth Group 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.