Summit Wealth Group LLC Lowers Stake in UnitedHealth Group Incorporated (NYSE:UNH)

by · The Cerbat Gem

Summit Wealth Group LLC lessened its holdings in UnitedHealth Group Incorporated (NYSE:UNH – Free Report) by 1.7% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 1,750 shares of the healthcare conglomerate’s stock after selling 30 shares during the period. Summit Wealth Group LLC’s holdings in UnitedHealth Group were worth $1,023,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the stock. International Assets Investment Management LLC raised its position in shares of UnitedHealth Group by 78,814.4% in the 3rd quarter. International Assets Investment Management LLC now owns 5,296,737 shares of the healthcare conglomerate’s stock valued at $3,096,896,000 after purchasing an additional 5,290,025 shares during the last quarter. Swedbank AB purchased a new position in UnitedHealth Group in the 1st quarter worth $1,117,462,000. Lone Pine Capital LLC purchased a new stake in UnitedHealth Group during the 2nd quarter valued at about $480,903,000. Dimensional Fund Advisors LP raised its stake in shares of UnitedHealth Group by 30.0% in the second quarter. Dimensional Fund Advisors LP now owns 3,816,254 shares of the healthcare conglomerate’s stock worth $1,942,956,000 after purchasing an additional 880,183 shares during the last quarter. Finally, Baillie Gifford & Co. boosted its position in UnitedHealth Group by 1,125.4% in the second quarter. Baillie Gifford & Co. now owns 894,006 shares of the healthcare conglomerate’s stock valued at $455,281,000 after buying an additional 821,050 shares during the last quarter. 87.86% of the stock is currently owned by hedge funds and other institutional investors.

UnitedHealth Group Stock Down 0.4 %

UnitedHealth Group stock opened at $589.65 on Tuesday. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 0.74. UnitedHealth Group Incorporated has a twelve month low of $436.38 and a twelve month high of $630.73. The stock has a market capitalization of $542.64 billion, a PE ratio of 38.41, a price-to-earnings-growth ratio of 1.74 and a beta of 0.58. The company has a 50 day moving average of $582.75 and a 200-day moving average of $550.66.

UnitedHealth Group (NYSE:UNH – Get Free Report) last issued its quarterly earnings data on Tuesday, October 15th. The healthcare conglomerate reported $7.15 earnings per share for the quarter, beating the consensus estimate of $7.00 by $0.15. The company had revenue of $100.82 billion for the quarter, compared to analyst estimates of $99.14 billion. UnitedHealth Group had a net margin of 3.63% and a return on equity of 26.37%. The company’s revenue was up 9.2% on a year-over-year basis. During the same period in the prior year, the firm earned $6.56 earnings per share. On average, equities research analysts anticipate that UnitedHealth Group Incorporated will post 27.6 EPS for the current fiscal year.

UnitedHealth Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 17th. Investors of record on Monday, December 9th will be issued a $2.10 dividend. The ex-dividend date of this dividend is Monday, December 9th. This represents a $8.40 dividend on an annualized basis and a yield of 1.42%. UnitedHealth Group’s dividend payout ratio (DPR) is presently 54.72%.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on UNH. HSBC lowered shares of UnitedHealth Group from a “buy” rating to a “hold” rating in a research note on Thursday, October 17th. Morgan Stanley dropped their price target on shares of UnitedHealth Group from $615.00 to $610.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 16th. Stephens cut their price target on shares of UnitedHealth Group from $632.00 to $605.00 and set an “overweight” rating for the company in a report on Wednesday, October 16th. StockNews.com upgraded UnitedHealth Group from a “hold” rating to a “buy” rating in a research report on Tuesday, November 12th. Finally, Cantor Fitzgerald raised their target price on shares of UnitedHealth Group from $591.00 to $644.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 16th. Three analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $615.53.

Get Our Latest Report on UNH

UnitedHealth Group Company Profile

(Free Report)

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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