Pinnacle Financial Partners Inc Sells 8,508 Shares of UnitedHealth Group Incorporated (NYSE:UNH)

Pinnacle Financial Partners Inc cut its position in UnitedHealth Group Incorporated (NYSE:UNH) by 3.5% during the 4th quarter, HoldingsChannel reports. The firm owned 234,632 shares of the healthcare conglomerate’s stock after selling 8,508 shares during the quarter. UnitedHealth Group comprises about 2.6% of Pinnacle Financial Partners Inc’s portfolio, making the stock its 8th largest holding. Pinnacle Financial Partners Inc’s holdings in UnitedHealth Group were worth $130,050,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of the company. M&T Bank Corp raised its holdings in shares of UnitedHealth Group by 13.4% during the third quarter. M&T Bank Corp now owns 220,590 shares of the healthcare conglomerate’s stock worth $128,975,000 after acquiring an additional 26,074 shares during the period. Sugarloaf Wealth Management LLC grew its position in UnitedHealth Group by 17.6% in the fourth quarter. Sugarloaf Wealth Management LLC now owns 7,957 shares of the healthcare conglomerate’s stock valued at $4,025,000 after purchasing an additional 1,193 shares in the last quarter. Benjamin Edwards Inc. grew its position in UnitedHealth Group by 1,275.3% in the third quarter. Benjamin Edwards Inc. now owns 44,547 shares of the healthcare conglomerate’s stock valued at $26,060,000 after purchasing an additional 41,308 shares in the last quarter. Parsifal Capital Management LP bought a new position in UnitedHealth Group in the third quarter valued at $21,165,000. Finally, Signal Advisors Wealth LLC grew its position in UnitedHealth Group by 13.0% in the fourth quarter. Signal Advisors Wealth LLC now owns 9,115 shares of the healthcare conglomerate’s stock valued at $4,611,000 after purchasing an additional 1,051 shares in the last quarter. 87.86% of the stock is currently owned by institutional investors and hedge funds.

UnitedHealth Group Trading Down 7.3 %

UNH opened at $465.58 on Friday. UnitedHealth Group Incorporated has a fifty-two week low of $436.38 and a fifty-two week high of $630.73. The company has a debt-to-equity ratio of 0.74, a current ratio of 0.83 and a quick ratio of 0.91. The firm has a market capitalization of $428.46 billion, a price-to-earnings ratio of 30.04, a PEG ratio of 1.37 and a beta of 0.61. The company’s 50 day moving average price is $519.27 and its two-hundred day moving average price is $560.54.

UnitedHealth Group (NYSE:UNH) last posted its quarterly earnings data on Thursday, January 16th. The healthcare conglomerate reported $6.81 EPS for the quarter, beating analysts’ consensus estimates of $6.74 by $0.07. UnitedHealth Group had a net margin of 3.60% and a return on equity of 26.69%. The company had revenue of $100.81 billion for the quarter, compared to analyst estimates of $101.60 billion. During the same period in the prior year, the firm posted $5.83 EPS. The company’s quarterly revenue was up 6.8% on a year-over-year basis. As a group, research analysts predict that UnitedHealth Group Incorporated will post 29.54 earnings per share for the current year.

Insider Activity

In related news, Director Timothy Patrick Flynn bought 1,000 shares of the company’s stock in a transaction that occurred on Friday, January 17th. The shares were bought at an average price of $511.57 per share, for a total transaction of $511,570.00. Following the transaction, the director now directly owns 4,500 shares of the company’s stock, valued at approximately $2,302,065. The trade was a 28.57 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.33% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on UNH shares. Barclays decreased their price objective on shares of UnitedHealth Group from $655.00 to $642.00 and set an “overweight” rating for the company in a research report on Friday, January 17th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $700.00 target price on shares of UnitedHealth Group in a report on Friday, January 17th. Stephens lifted their target price on shares of UnitedHealth Group from $605.00 to $675.00 and gave the stock an “overweight” rating in a report on Thursday, December 5th. Piper Sandler dropped their price objective on shares of UnitedHealth Group from $605.00 to $600.00 and set an “overweight” rating for the company in a research note on Thursday, January 2nd. Finally, HSBC upgraded shares of UnitedHealth Group from a “hold” rating to a “buy” rating and set a $595.00 price objective for the company in a research note on Friday, January 10th. One analyst has rated the stock with a hold rating, twenty have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus price target of $629.32.

UnitedHealth Group Company 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.