UnitedHealth Group Incorporated (NYSE:UNH) Stake Lessened by Genesee Capital Advisors LLC

Posted by Defense World Staff on Jul 2nd, 2023

Genesee Capital Advisors LLC trimmed its position in shares of UnitedHealth Group Incorporated (NYSE:UNH – Free Report) by 1.9% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,914 shares of the healthcare conglomerate’s stock after selling 55 shares during the period. UnitedHealth Group comprises approximately 1.0% of Genesee Capital Advisors LLC’s portfolio, making the stock its 24th biggest holding. Genesee Capital Advisors LLC’s holdings in UnitedHealth Group were worth $1,377,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Chelsea Counsel Co. bought a new position in UnitedHealth Group during the fourth quarter worth about $27,000. Freedom Wealth Alliance LLC acquired a new stake in shares of UnitedHealth Group in the fourth quarter valued at approximately $31,000. Legend Financial Advisors Inc. acquired a new stake in shares of UnitedHealth Group in the third quarter valued at approximately $37,000. Investors Research Corp increased its holdings in shares of UnitedHealth Group by 51.1% in the fourth quarter. Investors Research Corp now owns 71 shares of the healthcare conglomerate’s stock valued at $38,000 after purchasing an additional 24 shares in the last quarter. Finally, Bourgeon Capital Management LLC increased its holdings 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 purchasing an additional 50 shares in the last quarter. 92.61% of the stock is currently owned by hedge funds and other institutional investors.

UnitedHealth Group Trading Up 0.9 %

Shares of NYSE:UNH opened at $480.64 on Friday. The company’s 50-day moving average price is $483.72 and its two-hundred day moving average price is $490.07. 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 one year low of $445.68 and a one year high of $558.10. The stock has a market capitalization of $447.49 billion, a PE ratio of 21.98, a price-to-earnings-growth ratio of 1.39 and a beta of 0.68.

UnitedHealth Group (NYSE:UNH – Free Report) last issued its quarterly earnings results 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 analysts’ expectations of $89.77 billion. UnitedHealth Group had a net margin of 6.16% and a return on equity of 27.05%. The company’s revenue for the quarter was up 14.7% on a year-over-year basis. During the same period in the previous year, the firm posted $5.49 EPS. On average, equities analysts forecast that UnitedHealth Group Incorporated will post 24.86 EPS for the current fiscal year.

UnitedHealth Group Increases Dividend

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

Wall Street Analyst Weigh In

A number of analysts have commented on UNH shares. Deutsche Bank Aktiengesellschaft lowered their target price on shares of UnitedHealth Group from $627.00 to $564.00 in a report on Friday, June 16th. TD Cowen lowered their target price on shares of UnitedHealth Group from $596.00 to $562.00 and set an “outperform” rating for the company in a report on Monday, April 17th. SVB Securities lowered their target price on shares of UnitedHealth Group from $625.00 to $560.00 in a report on Wednesday, June 14th. StockNews.com lowered shares of UnitedHealth Group from a “strong-buy” rating to a “buy” rating in a report on Wednesday, June 14th. Finally, JPMorgan Chase & Co. decreased their price target on shares of UnitedHealth Group from $595.00 to $562.00 in a report on Tuesday, May 30th. One research analyst has rated the stock with a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Buy” and an average price target of $592.68.

Insider Transactions at UnitedHealth Group

In other UnitedHealth Group news, EVP Erin Mcsweeney sold 1,008 shares of the stock in a transaction dated Friday, April 21st. The shares were sold at an average price of $484.58, for a total value of $488,456.64. Following the transaction, the executive vice president now directly 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 SEC, which can be accessed through this hyperlink. In other news, CEO Andrew Witty sold 6,160 shares of the firm’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 transaction, the chief executive officer now directly owns 86,564 shares of the company’s stock, valued at $42,199,084.36. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Erin Mcsweeney sold 1,008 shares of the firm’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 transaction of $488,456.64. Following the transaction, 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 8,852 shares of company stock worth $4,313,962 in the last ninety days. Insiders own 0.35% of the company’s stock.

UnitedHealth Group Profile

(Free Report)

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.