UnitedHealth Group Incorporated (NYSE:UNH) Shares Acquired by Inspire Advisors LLC

Posted by Defense World Staff on Jul 9th, 2023

Inspire Advisors LLC lifted its position in UnitedHealth Group Incorporated (NYSE:UNH – Free Report) by 5.7% in the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 1,185 shares of the healthcare conglomerate’s stock after acquiring an additional 64 shares during the quarter. Inspire Advisors LLC’s holdings in UnitedHealth Group were worth $560,000 as of its most recent filing with the SEC.

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

UnitedHealth Group Price Performance

Shares of UnitedHealth Group stock opened at $461.58 on Friday. The firm has a fifty day moving average price of $481.95 and a two-hundred day moving average price of $488.15. The company has a market cap of $429.74 billion, a PE ratio of 21.11, a price-to-earnings-growth ratio of 1.35 and a beta of 0.66. UnitedHealth Group Incorporated has a fifty-two week low of $445.68 and a fifty-two week high of $558.10. 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 (NYSE:UNH – Free Report) last released its quarterly earnings data on Friday, April 14th. The healthcare conglomerate reported $6.26 EPS for the quarter, topping analysts’ consensus estimates of $6.24 by $0.02. The company had revenue of $91.93 billion during 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 revenue for the quarter was up 14.7% compared to the same quarter last year. During the same period last year, the firm earned $5.49 EPS. Analysts expect that UnitedHealth Group Incorporated will post 24.85 EPS for the current year.

UnitedHealth Group Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 27th. Investors of record on Monday, June 19th were given a dividend of $1.88 per share. The ex-dividend date was Thursday, June 15th. This represents a $7.52 dividend on an annualized basis and a dividend yield of 1.63%. This is a boost from UnitedHealth Group’s previous quarterly dividend of $1.65. UnitedHealth Group’s dividend payout ratio (DPR) is 34.39%.

Analysts Set New Price Targets

Several brokerages have recently commented on UNH. Piper Sandler began coverage on shares of UnitedHealth Group in a research note on Thursday, May 25th. They set an “overweight” rating and a $580.00 price target on the stock. Truist Financial dropped their price target on shares of UnitedHealth Group from $610.00 to $580.00 in a research note on Wednesday, June 14th. TD Cowen dropped their price target on shares of UnitedHealth Group from $596.00 to $562.00 and set an “outperform” rating on the stock in a research note on Monday, April 17th. Deutsche Bank Aktiengesellschaft dropped their price target on shares of UnitedHealth Group from $627.00 to $564.00 in a research note on Friday, June 16th. Finally, Loop Capital raised their target price on shares of UnitedHealth Group from $590.00 to $600.00 and gave the company a “buy” rating in a research note on Monday, April 17th. One investment analyst has rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, UnitedHealth Group presently has an average rating of “Buy” and an average price target of $590.84.

Insider Buying and Selling

In related news, EVP Erin Mcsweeney sold 1,684 shares of the stock in a transaction dated Monday, April 24th. The shares were sold at an average price of $488.46, for a total transaction of $822,566.64. Following the completion of the sale, the executive vice president now owns 8,675 shares in the company, valued at approximately $4,237,390.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, EVP Erin Mcsweeney sold 1,684 shares of the stock in a transaction dated Monday, April 24th. The shares were sold at an average price of $488.46, for a total transaction of $822,566.64. Following the completion of the sale, the executive vice president now owns 8,675 shares in the company, valued at approximately $4,237,390.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Andrew Witty sold 6,160 shares of the firm’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 completion of the sale, the chief executive officer now 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 sold 8,852 shares of company stock worth $4,313,962 in the last quarter. 0.35% of the stock is owned by corporate insiders.

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.