Corebridge Financial Inc. Sells 13,167 Shares of UnitedHealth Group Incorporated (NYSE:UNH)

Corebridge Financial Inc. cut its position in UnitedHealth Group Incorporated (NYSE:UNH) by 5.9% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 211,510 shares of the healthcare conglomerate’s stock after selling 13,167 shares during the quarter. UnitedHealth Group makes up about 0.6% of Corebridge Financial Inc.’s holdings, making the stock its 18th biggest position. Corebridge Financial Inc.’s holdings in UnitedHealth Group were worth $106,994,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the company. NewSquare Capital LLC bought a new position in UnitedHealth Group during the fourth quarter worth $25,000. AlphaMark Advisors LLC acquired a new position in shares of UnitedHealth Group during the fourth quarter valued at about $30,000. Promus Capital LLC acquired a new stake in UnitedHealth Group during the fourth quarter worth about $32,000. RPg Family Wealth Advisory LLC acquired a new position in UnitedHealth Group in the 3rd quarter valued at approximately $37,000. Finally, Pillar Financial Advisors LLC acquired a new stake in shares of UnitedHealth Group during the 4th quarter worth approximately $40,000. Institutional investors and hedge funds own 87.86% of the company’s stock.

UnitedHealth Group Trading Up 1.3 %

UNH stock opened at $517.72 on Monday. The business has a fifty day moving average of $510.19 and a 200-day moving average of $546.71. The company has a market cap of $473.57 billion, a P/E ratio of 33.40, a PEG ratio of 1.37 and a beta of 0.62. UnitedHealth Group Incorporated has a twelve month low of $436.38 and a twelve month high of $630.73. The company has a quick ratio of 0.91, a current ratio of 0.83 and a debt-to-equity ratio of 0.74.

UnitedHealth Group (NYSE:UNH) last issued its earnings results on Thursday, January 16th. The healthcare conglomerate reported $6.81 earnings per share (EPS) for the quarter, beating the consensus estimate 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 quarter last year, the firm earned $5.83 EPS. The company’s revenue for the quarter was up 6.8% on a year-over-year basis. As a group, equities research analysts expect that UnitedHealth Group Incorporated will post 29.54 EPS for the current year.

UnitedHealth Group Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 18th. Investors 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 yield of 1.62%. UnitedHealth Group’s dividend payout ratio is presently 54.19%.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on UNH shares. Cantor Fitzgerald reissued an “overweight” rating and issued a $700.00 price target on shares of UnitedHealth Group in a report on Friday, January 17th. Hsbc Global Res upgraded shares of UnitedHealth Group from a “hold” rating to a “strong-buy” rating in a research note on Friday, January 10th. Piper Sandler dropped their target price on UnitedHealth Group from $605.00 to $600.00 and set an “overweight” rating for the company in a report on Thursday, January 2nd. Stephens upped their price target on UnitedHealth Group from $605.00 to $675.00 and gave the company an “overweight” rating in a research report on Thursday, December 5th. Finally, Wells Fargo & Company reduced their target price on shares of UnitedHealth Group from $694.00 to $660.00 and set an “overweight” rating on the stock in a research note on Tuesday, January 28th. Twenty investment analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, UnitedHealth Group has an average rating of “Buy” and a consensus target price of $629.32.

Insiders Place Their Bets

In other news, Director Timothy Patrick Flynn purchased 1,000 shares of UnitedHealth Group stock in a transaction dated Friday, January 17th. The shares were bought at an average cost of $511.57 per share, with a total value of $511,570.00. Following the completion of the transaction, the director now directly owns 4,500 shares in the company, valued at $2,302,065. This trade represents a 28.57 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.33% of the company’s stock.

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.