Summit Wealth & Retirement Planning Inc. Makes New Investment in UnitedHealth Group Incorporated $UNH

Summit Wealth & Retirement Planning Inc. bought a new stake in UnitedHealth Group Incorporated (NYSE:UNH) in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 937 shares of the healthcare conglomerate’s stock, valued at approximately $292,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Bayforest Capital Ltd grew its holdings in UnitedHealth Group by 685.7% in the first quarter. Bayforest Capital Ltd now owns 55 shares of the healthcare conglomerate’s stock valued at $29,000 after purchasing an additional 48 shares during the period. Clal Insurance Enterprises Holdings Ltd grew its stake in shares of UnitedHealth Group by 416.7% during the 1st quarter. Clal Insurance Enterprises Holdings Ltd now owns 62 shares of the healthcare conglomerate’s stock valued at $32,000 after buying an additional 50 shares during the period. Glass Jacobson Investment Advisors llc boosted its holdings in UnitedHealth Group by 80.9% in the second quarter. Glass Jacobson Investment Advisors llc now owns 123 shares of the healthcare conglomerate’s stock valued at $38,000 after acquiring an additional 55 shares during the last quarter. Kentucky Trust Co increased its stake in UnitedHealth Group by 53.8% during the second quarter. Kentucky Trust Co now owns 143 shares of the healthcare conglomerate’s stock worth $45,000 after acquiring an additional 50 shares during the last quarter. Finally, Nova Wealth Management Inc. lifted its stake in shares of UnitedHealth Group by 339.1% in the 1st quarter. Nova Wealth Management Inc. now owns 101 shares of the healthcare conglomerate’s stock valued at $53,000 after purchasing an additional 78 shares in the last quarter. Hedge funds and other institutional investors own 87.86% of the company’s stock.

Analyst Ratings Changes

Several research firms recently commented on UNH. Leerink Partners set a $410.00 price target on shares of UnitedHealth Group and gave the company an “outperform” rating in a report on Wednesday, October 29th. Piper Sandler cut their target price on shares of UnitedHealth Group from $423.00 to $417.00 and set an “overweight” rating on the stock in a research note on Tuesday, October 28th. Oppenheimer lowered their price target on UnitedHealth Group from $400.00 to $325.00 and set an “outperform” rating for the company in a report on Wednesday, July 30th. Weiss Ratings upgraded UnitedHealth Group from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Friday, October 24th. Finally, Mizuho lifted their price objective on shares of UnitedHealth Group from $300.00 to $430.00 and gave the company an “outperform” rating in a research note on Thursday, October 9th. Eighteen equities research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $397.12.

UnitedHealth Group Price Performance

UNH stock opened at $324.29 on Friday. The company has a market capitalization of $293.75 billion, a PE ratio of 16.93, a P/E/G ratio of 2.28 and a beta of 0.47. The company has a quick ratio of 0.85, a current ratio of 0.82 and a debt-to-equity ratio of 0.71. The stock’s 50 day moving average is $345.84 and its two-hundred day moving average is $323.37. UnitedHealth Group Incorporated has a 52-week low of $234.60 and a 52-week high of $630.73.

UnitedHealth Group (NYSE:UNH) last posted its quarterly earnings results on Tuesday, October 28th. The healthcare conglomerate reported $2.92 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.87 by $0.05. UnitedHealth Group had a net margin of 4.04% and a return on equity of 19.23%. The firm had revenue of $113.16 billion for the quarter, compared to analysts’ expectations of $113.19 billion. During the same period in the prior year, the company posted $7.15 earnings per share. The firm’s quarterly revenue was up 12.2% on a year-over-year basis. Analysts predict that UnitedHealth Group Incorporated will post 29.54 earnings per share for the current fiscal year.

UnitedHealth Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 16th. Stockholders of record on Monday, December 8th will be given a $2.21 dividend. The ex-dividend date is Monday, December 8th. This represents a $8.84 annualized dividend and a dividend yield of 2.7%. UnitedHealth Group’s dividend payout ratio (DPR) is presently 46.14%.

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.