UnitedHealth Group Incorporated (NYSE:UNH) is Pinnacle West Asset Management Inc.’s 3rd Largest Position

Pinnacle West Asset Management Inc. boosted its stake in shares of UnitedHealth Group Incorporated (NYSE:UNH) by 0.8% during the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 7,130 shares of the healthcare conglomerate’s stock after buying an additional 55 shares during the period. UnitedHealth Group makes up approximately 3.0% of Pinnacle West Asset Management Inc.’s holdings, making the stock its 3rd largest holding. Pinnacle West Asset Management Inc.’s holdings in UnitedHealth Group were worth $4,169,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Delta Financial Group Inc. lifted its position in shares of UnitedHealth Group by 1.0% during the third quarter. Delta Financial Group Inc. now owns 1,650 shares of the healthcare conglomerate’s stock valued at $965,000 after buying an additional 17 shares during the last quarter. Signature Resources Capital Management LLC lifted its position in UnitedHealth Group by 40.0% during the second quarter. Signature Resources Capital Management LLC now owns 63 shares of the healthcare conglomerate’s stock valued at $32,000 after acquiring an additional 18 shares during the last quarter. Saxony Capital Management LLC increased its position in shares of UnitedHealth Group by 3.5% during the second quarter. Saxony Capital Management LLC now owns 530 shares of the healthcare conglomerate’s stock worth $270,000 after purchasing an additional 18 shares in the last quarter. GoalVest Advisory LLC boosted its position in shares of UnitedHealth Group by 0.6% in the 2nd quarter. GoalVest Advisory LLC now owns 3,124 shares of the healthcare conglomerate’s stock worth $1,591,000 after purchasing an additional 18 shares in the last quarter. Finally, Fiduciary Group LLC raised its stake in UnitedHealth Group by 0.5% in the second quarter. Fiduciary Group LLC now owns 3,695 shares of the healthcare conglomerate’s stock valued at $1,882,000 after buying an additional 18 shares during the last quarter. 87.86% of the stock is owned by hedge funds and other institutional investors.

UnitedHealth Group Stock Performance

NYSE UNH opened at $560.82 on Friday. The stock’s 50 day simple moving average is $584.16 and its 200-day simple moving average is $536.49. UnitedHealth Group Incorporated has a 1-year low of $436.38 and a 1-year high of $608.63. The company has a debt-to-equity ratio of 0.74, a current ratio of 0.91 and a quick ratio of 0.88. The company has a market cap of $517.87 billion, a PE ratio of 36.54, a price-to-earnings-growth ratio of 1.67 and a beta of 0.58.

UnitedHealth Group (NYSE:UNH) last posted its quarterly earnings results on Tuesday, October 15th. The healthcare conglomerate reported $7.15 earnings per share for the quarter, topping analysts’ consensus estimates of $7.00 by $0.15. The firm had revenue of $100.82 billion for the quarter, compared to analyst estimates of $99.14 billion. UnitedHealth Group had a net margin of 3.63% and a return on equity of 26.37%. UnitedHealth Group’s quarterly revenue was up 9.2% on a year-over-year basis. During the same period in the previous year, the business posted $6.56 earnings per share. As a group, equities research analysts anticipate that UnitedHealth Group Incorporated will post 27.61 EPS for the current fiscal year.

UnitedHealth Group Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 24th. Stockholders of record on Monday, September 16th were issued a dividend of $2.10 per share. The ex-dividend date was Monday, September 16th. This represents a $8.40 annualized dividend and a dividend yield of 1.50%. UnitedHealth Group’s dividend payout ratio is presently 54.72%.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on UNH. Hsbc Global Res lowered shares of UnitedHealth Group from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 17th. Wells Fargo & Company raised their target price on UnitedHealth Group from $525.00 to $630.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 17th. Cantor Fitzgerald increased their price objective on UnitedHealth Group from $591.00 to $644.00 and gave the company an “overweight” rating in a report on Wednesday, October 16th. Barclays dropped their target price on UnitedHealth Group from $604.00 to $603.00 and set an “overweight” rating on the stock in a research report on Tuesday. Finally, Stephens dropped their price objective on shares of UnitedHealth Group from $632.00 to $605.00 and set an “overweight” rating on the stock in a report on Wednesday, October 16th. Four equities research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $615.53.

About UnitedHealth Group

UnitedHealth Group Incorporated operates as a diversified health care company in the United States. The company 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.