Covington Investment Advisors Inc. Sells 275 Shares of UnitedHealth Group Incorporated (NYSE:UNH)

Covington Investment Advisors Inc. decreased its stake in UnitedHealth Group Incorporated (NYSE:UNH) by 1.1% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 25,363 shares of the healthcare conglomerate’s stock after selling 275 shares during the period. UnitedHealth Group accounts for approximately 1.1% of Covington Investment Advisors Inc.’s holdings, making the stock its 18th largest position. Covington Investment Advisors Inc.’s holdings in UnitedHealth Group were worth $12,830,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the company. NewSquare Capital LLC acquired a new position in UnitedHealth Group in the 4th quarter valued at $25,000. AlphaMark Advisors LLC acquired a new position in UnitedHealth Group during the fourth quarter worth about $30,000. Promus Capital LLC acquired a new position in UnitedHealth Group during the 4th quarter worth approximately $32,000. RPg Family Wealth Advisory LLC bought a new stake in shares of UnitedHealth Group during the third quarter worth $37,000. Finally, Pillar Financial Advisors LLC bought a new position in shares of UnitedHealth Group in the 4th quarter valued at $40,000. 87.86% of the stock is currently owned by institutional investors and hedge funds.

UnitedHealth Group Stock Performance

Shares of UnitedHealth Group stock opened at $515.89 on Friday. The firm has a market capitalization of $471.89 billion, a P/E ratio of 33.28, a P/E/G ratio of 1.37 and a beta of 0.62. The company’s 50 day moving average price is $508.70 and its two-hundred day moving average price is $545.16. The company has a debt-to-equity ratio of 0.74, a current ratio of 0.83 and a quick ratio of 0.91. UnitedHealth Group Incorporated has a fifty-two week low of $436.38 and a fifty-two week high of $630.73.

UnitedHealth Group (NYSE:UNH) last released its quarterly earnings data on Thursday, January 16th. The healthcare conglomerate reported $6.81 EPS for the quarter, topping 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 during the quarter, compared to the consensus estimate of $101.60 billion. During the same period last year, the firm earned $5.83 EPS. UnitedHealth Group’s revenue for the quarter was up 6.8% on a year-over-year basis. On average, equities analysts forecast that UnitedHealth Group Incorporated will post 29.54 earnings per share for the current fiscal year.

UnitedHealth Group Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 18th. Investors of record on Monday, March 10th were given a $2.10 dividend. This represents a $8.40 annualized dividend and a yield of 1.63%. The ex-dividend date was Monday, March 10th. UnitedHealth Group’s dividend payout ratio is presently 54.19%.

Insider Buying and Selling

In related news, Director Timothy Patrick Flynn purchased 1,000 shares of UnitedHealth Group stock in a transaction that occurred on Friday, January 17th. The stock was purchased 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 in the company, valued at approximately $2,302,065. This trade represents a 28.57 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. 0.33% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research firms have recently commented on UNH. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $700.00 price objective on shares of UnitedHealth Group in a research note on Friday, January 17th. Hsbc Global Res upgraded UnitedHealth Group from a “hold” rating to a “strong-buy” rating in a research note on Friday, January 10th. StockNews.com raised shares of UnitedHealth Group from a “hold” rating to a “buy” rating in a research report on Thursday, January 23rd. Truist Financial dropped their target price on shares of UnitedHealth Group from $625.00 to $610.00 and set a “buy” rating on the stock in a research note on Monday, January 6th. Finally, Piper Sandler dropped their price objective on shares of UnitedHealth Group from $605.00 to $600.00 and set an “overweight” rating on the stock in a report on Thursday, January 2nd. Twenty research analysts have rated the stock with a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, UnitedHealth Group presently has a consensus rating of “Buy” and a consensus price target of $629.32.

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.