Spectrum Asset Management Inc. NB CA Purchases 148 Shares of UnitedHealth Group Incorporated (NYSE:UNH)

Spectrum Asset Management Inc. NB CA raised its position in shares of UnitedHealth Group Incorporated (NYSE:UNH – Get Rating) by 14.7% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 1,153 shares of the healthcare conglomerate’s stock after purchasing an additional 148 shares during the quarter. Spectrum Asset Management Inc. NB CA’s holdings in UnitedHealth Group were worth $545,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in UNH. Chelsea Counsel Co. bought a new position in shares of UnitedHealth Group during the 4th quarter valued at approximately $27,000. Freedom Wealth Alliance LLC bought a new position in shares of UnitedHealth Group in the fourth quarter worth approximately $31,000. Investors Research Corp raised its position in shares of UnitedHealth Group by 51.1% during the 4th quarter. Investors Research Corp now owns 71 shares of the healthcare conglomerate’s stock valued at $38,000 after purchasing an additional 24 shares during the period. Legend Financial Advisors Inc. purchased a new stake in UnitedHealth Group in the 3rd quarter worth $37,000. Finally, Bourgeon Capital Management LLC lifted its position in shares of UnitedHealth Group by 192.3% in the fourth quarter. Bourgeon Capital Management LLC now owns 76 shares of the healthcare conglomerate’s stock valued at $40,000 after acquiring an additional 50 shares in the last quarter. Institutional investors own 92.61% of the company’s stock.

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Wall Street Analyst Weigh In

Several analysts recently issued reports on UNH shares. Piper Sandler initiated coverage on UnitedHealth Group in a research note on Thursday, May 25th. They set an “overweight” rating and a $580.00 target price on the stock. SVB Securities dropped their target price on shares of UnitedHealth Group from $625.00 to $560.00 in a research report on Wednesday, June 14th. Raymond James reiterated a “strong-buy” rating and issued a $630.00 price target on shares of UnitedHealth Group in a research note on Friday, April 14th. JPMorgan Chase & Co. reduced their target price on UnitedHealth Group from $595.00 to $562.00 in a report on Tuesday, May 30th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $592.00 price objective on shares of UnitedHealth Group in a research note on Monday, April 17th. One equities 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 data from MarketBeat, UnitedHealth Group currently has a consensus rating of “Buy” and an average price target of $592.68.

Insider Activity at UnitedHealth Group

In other news, CEO Andrew Witty sold 6,160 shares of UnitedHealth Group 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 transaction, 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 document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other 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 approximately $5,019,764.22. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, 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 sale, the chief executive officer now directly 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. Insiders have sold a total of 8,852 shares of company stock valued at $4,313,962 over the last ninety days. 0.35% of the stock is owned by company insiders.

UnitedHealth Group Price Performance

UnitedHealth Group stock opened at $482.69 on Wednesday. The firm has a 50-day moving average of $484.23 and a two-hundred day moving average of $491.07. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.81 and a quick ratio of 0.81. UnitedHealth Group Incorporated has a 1 year low of $445.68 and a 1 year high of $558.10. The stock has a market cap of $449.40 billion, a price-to-earnings ratio of 22.07, a price-to-earnings-growth ratio of 1.40 and a beta of 0.68.

UnitedHealth Group (NYSE:UNH – Get Rating) last released its quarterly earnings data on Friday, April 14th. The healthcare conglomerate reported $6.26 EPS for the quarter, topping the consensus estimate 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 return on equity of 27.05% and a net margin of 6.16%. UnitedHealth Group’s quarterly revenue was up 14.7% on a year-over-year basis. During the same period last year, the business posted $5.49 EPS. On average, research analysts forecast that UnitedHealth Group Incorporated will post 24.86 earnings per share for the current year.

UnitedHealth Group Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 27th. Stockholders of record on Monday, June 19th were given a $1.88 dividend. This represents a $7.52 annualized dividend 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 presently 34.39%.

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.

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