SPC Financial Inc. cut its position in UnitedHealth Group Incorporated (NYSE:UNH - Free Report) by 91.3% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 449 shares of the healthcare conglomerate's stock after selling 4,736 shares during the quarter. SPC Financial Inc.'s holdings in UnitedHealth Group were worth $229,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in UNH. Granite Bay Wealth Management LLC purchased a new stake in shares of UnitedHealth Group during the second quarter worth about $4,470,000. Ted Buchan & Co purchased a new stake in UnitedHealth Group during the 2nd quarter worth approximately $1,748,000. Advisory Alpha LLC grew its position in shares of UnitedHealth Group by 7.8% during the second quarter. Advisory Alpha LLC now owns 4,415 shares of the healthcare conglomerate's stock worth $2,249,000 after buying an additional 320 shares in the last quarter. Truist Financial Corp raised its holdings in UnitedHealth Group by 46.7% in the second quarter. Truist Financial Corp now owns 898,406 shares of the healthcare conglomerate's stock valued at $457,522,000 after acquiring an additional 286,122 shares in the last quarter. Finally, Pathway Financial Advisers LLC grew its holdings in UnitedHealth Group by 3.5% during the 2nd quarter. Pathway Financial Advisers LLC now owns 6,718 shares of the healthcare conglomerate's stock worth $3,372,000 after acquiring an additional 230 shares in the last quarter. Hedge funds and other institutional investors own 87.86% of the company's stock.
In related news, CAO Thomas E. Roos sold 2,851 shares of the business's stock in a transaction that occurred on Wednesday, July 17th. The stock was sold at an average price of $569.88, for a total value of $1,624,727.88. Following the completion of the sale, the chief accounting officer now owns 29,501 shares of the company's stock, valued at approximately $16,812,029.88. The sale was disclosed in a document filed with the SEC, which is available at this link. In other UnitedHealth Group news, CAO Thomas E. Roos sold 2,851 shares of the business's stock in a transaction that occurred on Wednesday, July 17th. The shares were sold at an average price of $569.88, for a total value of $1,624,727.88. Following the completion of the sale, the chief accounting officer now directly owns 29,501 shares of the company's stock, valued at $16,812,029.88. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Erin Mcsweeney sold 1,500 shares of UnitedHealth Group stock in a transaction on Thursday, July 18th. The shares were sold at an average price of $579.03, for a total transaction of $868,545.00. Following the completion of the sale, the executive vice president now directly owns 7,785 shares of the company's stock, valued at approximately $4,507,748.55. The disclosure for this sale can be found here. Corporate insiders own 0.33% of the company's stock.
Several brokerages have recently commented on UNH. StockNews.com cut shares of UnitedHealth Group from a "buy" rating to a "hold" rating in a research report on Wednesday, September 25th. Cantor Fitzgerald reiterated an "overweight" rating and issued a $591.00 price target on shares of UnitedHealth Group in a report on Tuesday. Wells Fargo & Company lifted their price objective on shares of UnitedHealth Group from $525.00 to $630.00 and gave the stock an "overweight" rating in a report on Wednesday, July 17th. Argus lifted their price target on shares of UnitedHealth Group from $570.00 to $600.00 and gave the company a "buy" rating in a report on Wednesday, July 17th. Finally, Barclays raised their target price on shares of UnitedHealth Group from $560.00 to $604.00 and gave the stock an "overweight" rating in a report on Wednesday, July 17th. Two analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, UnitedHealth Group presently has an average rating of "Moderate Buy" and an average price target of $614.17.
Check Out Our Latest Research Report on UNH
NYSE:UNH opened at $583.33 on Wednesday. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 0.67. UnitedHealth Group Incorporated has a 1-year low of $436.38 and a 1-year high of $607.94. The firm has a market capitalization of $538.66 billion, a price-to-earnings ratio of 35.66, a price-to-earnings-growth ratio of 1.62 and a beta of 0.58. The stock has a fifty day simple moving average of $580.50 and a 200 day simple moving average of $525.71.
UnitedHealth Group (NYSE:UNH - Get Free Report) last released its earnings results on Tuesday, July 16th. The healthcare conglomerate reported $6.80 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $6.66 by $0.14. The company had revenue of $98.86 billion during the quarter, compared to analyst estimates of $98.73 billion. UnitedHealth Group had a return on equity of 26.55% and a net margin of 3.66%. The company's revenue for the quarter was up 6.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $6.14 earnings per share. Sell-side analysts forecast that UnitedHealth Group Incorporated will post 27.69 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 24th. Investors of record on Monday, September 16th were issued a dividend of $2.10 per share. The ex-dividend date was Monday, September 16th. This represents a $8.40 annualized dividend and a dividend yield of 1.44%. UnitedHealth Group's dividend payout ratio is 51.34%.
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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