Strong Tower Advisory Services boosted its position in UnitedHealth Group Incorporated (NYSE:UNH – Free Report) by 48.2% in the first quarter, HoldingsChannel.com reports. The institutional investor owned 44,613 shares of the healthcare conglomerate’s stock after purchasing an additional 14,507 shares during the period. UnitedHealth Group makes up approximately 2.3% of Strong Tower Advisory Services’ holdings, making the stock its 16th largest holding. Strong Tower Advisory Services’ holdings in UnitedHealth Group were worth $12,072,000 at the end of the most recent reporting period.
Several other large investors also recently added to or reduced their stakes in UNH. Brighton Jones LLC increased its stake in shares of UnitedHealth Group by 176.2% in the fourth quarter. Brighton Jones LLC now owns 44,249 shares of the healthcare conglomerate’s stock worth $22,384,000 after purchasing an additional 28,231 shares in the last quarter. Revolve Wealth Partners LLC grew its stake in UnitedHealth Group by 137.1% in the 4th quarter. Revolve Wealth Partners LLC now owns 4,019 shares of the healthcare conglomerate’s stock valued at $2,033,000 after buying an additional 2,324 shares in the last quarter. CMT Capital Markets Trading GmbH bought a new stake in UnitedHealth Group during the 2nd quarter valued at $340,000. Flow Traders U.S. LLC bought a new position in shares of UnitedHealth Group in the second quarter worth $356,000. Finally, Jump Financial LLC bought a new stake in shares of UnitedHealth Group during the 2nd quarter valued at $377,000. Hedge funds and other institutional investors own 87.86% of the company’s stock.
UnitedHealth Group Stock Performance
UnitedHealth Group stock opened at $400.86 on Monday. UnitedHealth Group Incorporated has a fifty-two week low of $234.60 and a fifty-two week high of $415.98. The firm’s fifty day moving average price is $373.69 and its 200-day moving average price is $329.60. The stock has a market cap of $364.04 billion, a P/E ratio of 30.28, a price-to-earnings-growth ratio of 1.61 and a beta of 0.64. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.80 and a current ratio of 0.80.
UnitedHealth Group Increases Dividend
The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 23rd. Investors of record on Monday, June 15th will be given a $2.32 dividend. This represents a $9.28 dividend on an annualized basis and a yield of 2.3%. The ex-dividend date is Monday, June 15th. This is a positive change from UnitedHealth Group’s previous quarterly dividend of $2.21. UnitedHealth Group’s dividend payout ratio is presently 70.09%.
Analyst Upgrades and Downgrades
A number of research analysts have weighed in on UNH shares. Truist Financial lifted their target price on UnitedHealth Group from $395.00 to $440.00 and gave the company a “buy” rating in a report on Monday, June 1st. Weiss Ratings raised shares of UnitedHealth Group from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Thursday, May 7th. Cantor Fitzgerald reiterated an “overweight” rating on shares of UnitedHealth Group in a research note on Thursday, June 11th. Wells Fargo & Company boosted their price target on shares of UnitedHealth Group from $370.00 to $397.00 and gave the company an “overweight” rating in a research report on Wednesday, April 22nd. Finally, UBS Group increased their price objective on UnitedHealth Group from $410.00 to $460.00 and gave the stock a “buy” rating in a research report on Friday, May 22nd. One equities research analyst has rated the stock with a Strong Buy rating, twenty have assigned a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $409.75.
Insider Buying and Selling
In other UnitedHealth Group news, CEO Patrick Hugh Conway sold 800 shares of UnitedHealth Group stock in a transaction that occurred on Thursday, April 23rd. The shares were sold at an average price of $355.00, for a total transaction of $284,000.00. Following the transaction, the chief executive officer directly owned 17,805 shares of the company’s stock, valued at approximately $6,320,775. This trade represents a 4.30% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.28% of the stock is owned by insiders.
About UnitedHealth Group
UnitedHealth Group Inc is a diversified health care company headquartered in Minnetonka, Minnesota, that operates two primary business platforms: UnitedHealthcare and Optum. Founded in 1977, the company provides a broad range of health benefits and health care services to individuals, employers, governmental entities and other organizations. Its operations span commercial employer-sponsored plans, individual and Medicare and Medicaid programs, and services for customers and health systems in the United States and selected international markets.
UnitedHealthcare is the company’s benefits business, administering health plans and networks, managing provider relationships, and offering coverage products for employers, individuals, and government-sponsored programs.
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