Carmel Capital Partners LLC decreased its stake in shares of UnitedHealth Group Incorporated (NYSE:UNH – Free Report) by 37.0% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 375 shares of the healthcare conglomerate’s stock after selling 220 shares during the quarter. Carmel Capital Partners LLC’s holdings in UnitedHealth Group were worth $177,000 as of its most recent SEC filing.
A number of other hedge funds have also added to or reduced their stakes in the stock. Axiom Financial Strategies LLC purchased a new position in UnitedHealth Group in the first quarter valued at about $210,000. McGowan Group Asset Management Inc. lifted its position in UnitedHealth Group by 8.9% during the first quarter. McGowan Group Asset Management Inc. now owns 744 shares of the healthcare conglomerate’s stock valued at $379,000 after acquiring an additional 61 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. grew its holdings in UnitedHealth Group by 31.8% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 250,196 shares of the healthcare conglomerate’s stock worth $127,592,000 after purchasing an additional 60,300 shares during the last quarter. MAS Advisors LLC lifted its holdings in shares of UnitedHealth Group by 10.8% during the 1st quarter. MAS Advisors LLC now owns 463 shares of the healthcare conglomerate’s stock valued at $241,000 after purchasing an additional 45 shares during the last quarter. Finally, First Western Trust Bank acquired a new position in UnitedHealth Group during the 1st quarter valued at about $875,000. 92.61% of the stock is currently owned by institutional investors.
Analysts Set New Price Targets
A number of equities research analysts have recently weighed in on UNH shares. Piper Sandler assumed coverage on UnitedHealth Group in a research note on Thursday, May 25th. They set an “overweight” rating and a $580.00 price target on the stock. StockNews.com cut shares of UnitedHealth Group from a “strong-buy” rating to a “buy” rating in a report on Wednesday, June 14th. SVB Securities cut their target price on UnitedHealth Group from $625.00 to $560.00 in a research report on Wednesday, June 14th. JPMorgan Chase & Co. dropped their price target on UnitedHealth Group from $595.00 to $562.00 in a research note on Tuesday, May 30th. Finally, Deutsche Bank Aktiengesellschaft decreased their target price on UnitedHealth Group from $627.00 to $564.00 in a report on Friday, June 16th. One analyst has rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, UnitedHealth Group has a consensus rating of “Buy” and an average price target of $592.68.
UnitedHealth Group Stock Performance
UnitedHealth Group (NYSE:UNH – Free Report) last posted its quarterly earnings data 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. UnitedHealth Group had a net margin of 6.16% and a return on equity of 27.05%. The company had revenue of $91.93 billion during the quarter, compared to analysts’ expectations of $89.77 billion. During the same period in the prior year, the business posted $5.49 earnings per share. The firm’s revenue for the quarter was up 14.7% on a year-over-year basis. Analysts expect that UnitedHealth Group Incorporated will post 24.86 EPS for the current fiscal 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 paid a $1.88 dividend. 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 dividend on an annualized basis and a dividend yield of 1.56%. UnitedHealth Group’s payout ratio is currently 34.39%.
Insider Activity at UnitedHealth Group
In other 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 completion of the sale, 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 Securities & Exchange Commission, which is available through this link. In other news, CEO Andrew Witty sold 6,160 shares of the business’s stock in a transaction dated 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 owns 86,564 shares of the company’s stock, valued at approximately $42,199,084.36. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Erin Mcsweeney sold 1,008 shares of UnitedHealth Group 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 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. In the last ninety days, insiders sold 8,852 shares of company stock valued at $4,313,962. 0.35% of the stock is owned by insiders.
About UnitedHealth Group
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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