Provident Investment Management Inc. Sells 1,044 Shares of UnitedHealth Group Incorporated (NYSE:UNH)

Provident Investment Management Inc. cut its stake in shares of UnitedHealth Group Incorporated (NYSE:UNH) by 1.2% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 87,347 shares of the healthcare conglomerate’s stock after selling 1,044 shares during the period. UnitedHealth Group comprises about 4.2% of Provident Investment Management Inc.’s investment portfolio, making the stock its 12th biggest position. Provident Investment Management Inc.’s holdings in UnitedHealth Group were worth $44,186,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of UNH. NewSquare Capital LLC purchased a new position in shares of UnitedHealth Group during the 4th quarter valued at $25,000. AlphaMark Advisors LLC bought a new position in shares of UnitedHealth Group in the fourth quarter worth about $30,000. Promus Capital LLC bought a new stake in UnitedHealth Group during the 4th quarter valued at approximately $32,000. Pillar Financial Advisors LLC bought a new position in UnitedHealth Group in the 4th quarter worth approximately $40,000. Finally, DecisionPoint Financial LLC lifted its holdings in shares of UnitedHealth Group by 155.0% in the fourth quarter. DecisionPoint Financial LLC now owns 102 shares of the healthcare conglomerate’s stock worth $52,000 after buying an additional 62 shares in the last quarter. Hedge funds and other institutional investors own 87.86% of the company’s stock.

Insider Activity

In other news, Director Timothy Patrick Flynn purchased 1,000 shares of the company’s stock in a transaction on Friday, January 17th. The shares were acquired at an average price of $511.57 per share, for a total transaction of $511,570.00. Following the purchase, the director now owns 4,500 shares in the company, valued at $2,302,065. This trade represents a 28.57 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.33% of the company’s stock.

UnitedHealth Group Stock Up 3.4 %

Shares of UnitedHealth Group stock opened at $540.87 on Friday. UnitedHealth Group Incorporated has a 52-week low of $436.38 and a 52-week high of $630.73. The firm’s 50 day moving average price is $509.39 and its 200-day moving average price is $542.82. The company has a quick ratio of 0.91, a current ratio of 0.83 and a debt-to-equity ratio of 0.74. The company has a market cap of $494.74 billion, a P/E ratio of 34.89, a PEG ratio of 1.37 and a beta of 0.62.

UnitedHealth Group (NYSE:UNH) last posted its quarterly earnings data on Thursday, January 16th. The healthcare conglomerate reported $6.81 earnings per share for the quarter, topping analysts’ consensus estimates of $6.74 by $0.07. UnitedHealth Group had a return on equity of 26.69% and a net margin of 3.60%. The firm had revenue of $100.81 billion during the quarter, compared to analysts’ expectations of $101.60 billion. During the same quarter last year, the firm earned $5.83 EPS. The business’s quarterly revenue was up 6.8% on a year-over-year basis. On average, sell-side analysts predict that UnitedHealth Group Incorporated will post 29.54 EPS for the current fiscal year.

UnitedHealth Group Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, March 18th. Shareholders of record on Monday, March 10th were issued a $2.10 dividend. The ex-dividend date of this dividend was Monday, March 10th. This represents a $8.40 dividend on an annualized basis and a dividend yield of 1.55%. UnitedHealth Group’s dividend payout ratio is currently 54.19%.

Wall Street Analyst Weigh In

UNH has been the topic of a number of research reports. Hsbc Global Res upgraded shares of UnitedHealth Group from a “hold” rating to a “strong-buy” rating in a report on Friday, January 10th. Wells Fargo & Company decreased their target price on UnitedHealth Group from $694.00 to $660.00 and set an “overweight” rating on the stock in a research report on Tuesday, January 28th. KeyCorp reaffirmed an “overweight” rating and issued a $650.00 price objective on shares of UnitedHealth Group in a research note on Friday, January 17th. Cantor Fitzgerald reissued an “overweight” rating and issued a $700.00 target price on shares of UnitedHealth Group in a report on Friday, January 17th. Finally, Barclays reduced their price objective on UnitedHealth Group from $655.00 to $642.00 and set an “overweight” rating on the stock in a research note on Friday, January 17th. Twenty analysts have rated the stock with a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of $629.32.

UnitedHealth Group Profile

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.