Canandaigua National Corp cut its position in shares of UnitedHealth Group Incorporated (NYSE:UNH) by 6.7% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 6,870 shares of the healthcare conglomerate’s stock after selling 496 shares during the period. Canandaigua National Corp’s holdings in UnitedHealth Group were worth $2,556,000 at the end of the most recent reporting period.
Other large investors also recently made changes to their positions in the company. Accel Wealth Management bought a new stake in UnitedHealth Group in the fourth quarter valued at $26,000. Front Row Advisors LLC grew its position in UnitedHealth Group by 288.0% in the third quarter. Front Row Advisors LLC now owns 97 shares of the healthcare conglomerate’s stock valued at $33,000 after acquiring an additional 72 shares during the period. Sage Private Wealth Group LLC bought a new stake in UnitedHealth Group in the fourth quarter valued at $36,000. IronBridge Private Wealth LLC bought a new stake in UnitedHealth Group in the fourth quarter valued at $37,000. Finally, Costello Asset Management INC grew its position in UnitedHealth Group by 500.0% in the fourth quarter. Costello Asset Management INC now owns 120 shares of the healthcare conglomerate’s stock valued at $42,000 after acquiring an additional 100 shares during the period. Hedge funds and other institutional investors own 86.03% of the company’s stock.
In other news, Director Richard T. Burke sold 5,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 11th. The stock was sold at an average price of $335.80, for a total value of $1,679,000.00. Following the completion of the sale, the director now directly owns 153,953 shares of the company’s stock, valued at $51,697,417.40. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CAO Thomas E. Roos sold 619 shares of the firm’s stock in a transaction that occurred on Tuesday, February 9th. The shares were sold at an average price of $323.90, for a total value of $200,494.10. Following the completion of the sale, the chief accounting officer now directly owns 31,908 shares of the company’s stock, valued at $10,335,001.20. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 9,619 shares of company stock valued at $3,292,774. 0.80% of the stock is owned by corporate insiders.
UnitedHealth Group (NYSE:UNH) last announced its quarterly earnings results on Tuesday, January 19th. The healthcare conglomerate reported $2.52 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.39 by $0.13. The company had revenue of $65.47 billion during the quarter, compared to the consensus estimate of $64.98 billion. UnitedHealth Group had a return on equity of 27.53% and a net margin of 6.62%. The company’s revenue for the quarter was up 7.5% compared to the same quarter last year. During the same period in the prior year, the company earned $3.90 earnings per share. Equities analysts expect that UnitedHealth Group Incorporated will post 16.75 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 23rd. Investors of record on Monday, March 15th were issued a dividend of $1.25 per share. The ex-dividend date was Friday, March 12th. This represents a $5.00 dividend on an annualized basis and a dividend yield of 1.37%. UnitedHealth Group’s payout ratio is presently 33.09%.
A number of equities analysts have commented on the company. Deutsche Bank Aktiengesellschaft boosted their price objective on UnitedHealth Group from $404.00 to $409.00 and gave the stock a “buy” rating in a research note on Thursday, January 21st. Truist boosted their price objective on UnitedHealth Group from $400.00 to $420.00 in a research note on Tuesday, January 5th. Bank of America reissued a “buy” rating and issued a $415.00 price objective on shares of UnitedHealth Group in a research note on Thursday, January 21st. SVB Leerink boosted their price objective on UnitedHealth Group from $378.00 to $390.00 and gave the stock an “outperform” rating in a research note on Monday, December 14th. Finally, Barclays reaffirmed a “buy” rating and set a $405.00 price target on shares of UnitedHealth Group in a research note on Sunday, January 17th. Five investment analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the stock. The company presently has an average rating of “Buy” and an average target price of $387.82.
About UnitedHealth Group
UnitedHealth Group Incorporated operates as a diversified health care company in the United States. It operates through four segments: UnitedHealthcare, OptumHealth, OptumInsight, and OptumRx. 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 and well-being services to individuals age 50 and older, addressing their needs for preventive and acute health care services, as well as services dealing with chronic disease and other specialized issues for older individuals; Medicaid plans, Children's Health Insurance Program, and health care programs; medical and dental benefits; and health care delivery.
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