UnitedHealth Group Incorporated (NYSE:UNH) Shares Sold by First National Bank of South Miami

Posted by Defense World Staff on Jun 28th, 2023

First National Bank of South Miami trimmed its position in UnitedHealth Group Incorporated (NYSE:UNH – Get Rating) by 4.1% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,394 shares of the healthcare conglomerate’s stock after selling 60 shares during the quarter. First National Bank of South Miami’s holdings in UnitedHealth Group were worth $659,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of the company. Moneta Group Investment Advisors LLC grew its position in 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 worth $6,268,753,000 after purchasing an additional 11,812,017 shares during the period. Norges Bank purchased a new position in UnitedHealth Group during the fourth quarter valued at approximately $5,210,004,000. Arrowstreet Capital Limited Partnership grew its stake in shares of UnitedHealth Group by 1,682.4% during 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 during the period. Morgan Stanley boosted its holdings 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 in the last quarter. Finally, Vanguard Group Inc. increased its holdings 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 valued at $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.

UnitedHealth Group Price Performance

NYSE:UNH opened at $482.69 on Wednesday. The stock’s fifty day moving average is $484.23 and its two-hundred day moving average is $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. The company has a market capitalization of $449.40 billion, a P/E ratio of 22.07, a P/E/G ratio of 1.40 and a beta of 0.68. UnitedHealth Group Incorporated has a 52 week low of $445.68 and a 52 week high of $558.10.

UnitedHealth Group (NYSE:UNH – Get Rating) last issued 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 firm had revenue of $91.93 billion for the quarter, compared to analyst estimates of $89.77 billion. UnitedHealth Group had a net margin of 6.16% and a return on equity of 27.05%. The business’s revenue for the quarter was up 14.7% compared to the same quarter last year. During the same period in the prior year, the business posted $5.49 EPS. Equities analysts expect that UnitedHealth Group Incorporated will post 24.86 EPS for the current year.

UnitedHealth Group Increases Dividend

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

Insider Activity at UnitedHealth Group

In other UnitedHealth Group news, CEO Andrew Witty sold 6,160 shares of the business’s stock in a transaction 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 transaction, the chief executive officer now owns 86,564 shares in the company, valued at $42,199,084.36. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, EVP Erin Mcsweeney sold 1,684 shares of UnitedHealth Group stock in a transaction that occurred on Monday, April 24th. The shares were sold at an average price of $488.46, for a total value of $822,566.64. Following the completion of the transaction, 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 Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Andrew Witty sold 6,160 shares of the stock in a transaction 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 transaction, the chief executive officer now directly owns 86,564 shares in the company, valued at approximately $42,199,084.36. The disclosure for this sale can be found here. Over the last quarter, insiders sold 8,852 shares of company stock worth $4,313,962. Corporate insiders own 0.35% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on UNH shares. Oppenheimer reiterated an “outperform” rating and set a $610.00 price target on shares of UnitedHealth Group in a research report on Monday, April 17th. Loop Capital upped their price objective on shares of UnitedHealth Group from $590.00 to $600.00 and gave the stock a “buy” rating in a research report on Monday, April 17th. Cantor Fitzgerald assumed coverage on shares of UnitedHealth Group in a research note on Thursday, April 20th. They set an “overweight” rating and a $591.00 target price for the company. Royal Bank of Canada reiterated an “outperform” rating and set a $592.00 price objective on shares of UnitedHealth Group in a research note on Monday, April 17th. Finally, StockNews.com lowered UnitedHealth Group from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, June 14th. One research analyst has rated the stock with a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, UnitedHealth Group presently has a consensus rating of “Buy” and an average price target of $592.68.

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.