1832 Asset Management L.P. lowered its stake in UnitedHealth Group Incorporated (NYSE:UNH – Free Report) by 0.6% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 1,228,278 shares of the healthcare conglomerate’s stock after selling 7,659 shares during the quarter. UnitedHealth Group comprises approximately 0.6% of 1832 Asset Management L.P.’s holdings, making the stock its 22nd largest holding. 1832 Asset Management L.P.’s holdings in UnitedHealth Group were worth $643,311,000 as of its most recent SEC filing.
A number of other large investors also recently made changes to their positions in UNH. Marshall & Sterling Wealth Advisors Inc. acquired a new stake in UnitedHealth Group during the 4th quarter worth $26,000. Bayforest Capital Ltd raised its stake in UnitedHealth Group by 685.7% during the 1st quarter. Bayforest Capital Ltd now owns 55 shares of the healthcare conglomerate’s stock worth $29,000 after buying an additional 48 shares during the period. Clal Insurance Enterprises Holdings Ltd raised its stake in UnitedHealth Group by 416.7% during the 1st quarter. Clal Insurance Enterprises Holdings Ltd now owns 62 shares of the healthcare conglomerate’s stock worth $32,000 after buying an additional 50 shares during the period. Kapitalo Investimentos Ltda acquired a new stake in UnitedHealth Group during the 4th quarter worth $41,000. Finally, Copia Wealth Management acquired a new stake in UnitedHealth Group during the 4th quarter worth $42,000. Institutional investors and hedge funds own 87.86% of the company’s stock.
UnitedHealth Group Trading Up 1.2%
UnitedHealth Group stock opened at $303.4150 on Friday. UnitedHealth Group Incorporated has a 52 week low of $234.60 and a 52 week high of $630.73. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.85 and a current ratio of 0.85. The stock has a market capitalization of $274.79 billion, a P/E ratio of 13.15, a PEG ratio of 1.93 and a beta of 0.43. The stock has a 50-day simple moving average of $288.51 and a 200 day simple moving average of $391.21.
UnitedHealth Group Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 23rd. Investors of record on Monday, September 15th will be issued a $2.21 dividend. This represents a $8.84 dividend on an annualized basis and a yield of 2.9%. The ex-dividend date is Monday, September 15th. UnitedHealth Group’s dividend payout ratio is presently 38.30%.
Insiders Place Their Bets
In related news, CEO Patrick Hugh Conway sold 589 shares of the stock in a transaction on Tuesday, June 10th. The stock was sold at an average price of $305.00, for a total value of $179,645.00. Following the completion of the sale, the chief executive officer directly owned 10,398 shares in the company, valued at $3,171,390. This represents a 5.36% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.28% of the stock is owned by insiders.
Analysts Set New Price Targets
Several brokerages recently commented on UNH. TD Cowen downgraded UnitedHealth Group from a “buy” rating to a “hold” rating and set a $308.00 price objective on the stock. in a research note on Monday, May 19th. HSBC reissued a “reduce” rating and issued a $270.00 price target (down previously from $490.00) on shares of UnitedHealth Group in a research note on Wednesday, May 21st. Deutsche Bank Aktiengesellschaft dropped their price target on UnitedHealth Group from $521.00 to $362.00 and set a “buy” rating on the stock in a research note on Wednesday, May 14th. Baird R W cut UnitedHealth Group from a “hold” rating to a “strong sell” rating in a report on Thursday, July 31st. Finally, Piper Sandler decreased their price objective on UnitedHealth Group from $353.00 to $317.00 and set an “overweight” rating for the company in a report on Wednesday, July 30th. Fifteen research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat.com, UnitedHealth Group presently has a consensus rating of “Moderate Buy” and an average price target of $365.38.
Check Out Our Latest Research Report on UnitedHealth Group
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.
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