MFG Wealth Management Inc. Takes Position in UnitedHealth Group Incorporated (NYSE:UNH)

by · The Cerbat Gem

MFG Wealth Management Inc. acquired a new position in UnitedHealth Group Incorporated (NYSE:UNH – Free Report) in the first quarter, HoldingsChannel.com reports. The institutional investor acquired 2,237 shares of the healthcare conglomerate’s stock, valued at approximately $1,172,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Norges Bank purchased a new stake in UnitedHealth Group in the 4th quarter worth $6,375,744,000. GAMMA Investing LLC increased its stake in UnitedHealth Group by 56,142.1% in the 1st quarter. GAMMA Investing LLC now owns 8,295,153 shares of the healthcare conglomerate’s stock worth $4,344,586,000 after acquiring an additional 8,280,404 shares during the last quarter. Raymond James Financial Inc. bought a new position in shares of UnitedHealth Group during the 4th quarter valued at approximately $1,914,740,000. Amundi lifted its position in UnitedHealth Group by 97.2% during the fourth quarter. Amundi now owns 6,069,100 shares of the healthcare conglomerate’s stock valued at $3,183,132,000 after purchasing an additional 2,991,470 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of UnitedHealth Group by 36.6% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 8,592,718 shares of the healthcare conglomerate’s stock worth $4,346,712,000 after buying an additional 2,301,010 shares during the last quarter. Institutional investors own 87.86% of the company’s stock.

UnitedHealth Group Stock Down 1.1%

Shares of NYSE UNH opened at $302.19 on Thursday. The stock has a market cap of $274.13 billion, a PE ratio of 12.65, a P/E/G ratio of 1.45 and a beta of 0.44. The company has a 50-day moving average of $342.22 and a 200 day moving average of $458.07. UnitedHealth Group Incorporated has a 12-month low of $248.88 and a 12-month high of $630.73. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.71.

UnitedHealth Group (NYSE:UNH – Get Free Report) last released its quarterly earnings data on Thursday, April 17th. The healthcare conglomerate reported $7.20 earnings per share for the quarter, missing analysts’ consensus estimates of $7.29 by ($0.09). UnitedHealth Group had a return on equity of 26.29% and a net margin of 5.39%. The company had revenue of $109.58 billion for the quarter, compared to analyst estimates of $111.56 billion. During the same period last year, the firm posted $6.91 EPS. As a group, sell-side analysts predict that UnitedHealth Group Incorporated will post 29.54 EPS for the current fiscal year.

UnitedHealth Group Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, June 24th. Stockholders of record on Monday, June 16th were given a dividend of $2.21 per share. This represents a $8.84 annualized dividend and a dividend yield of 2.93%. The ex-dividend date of this dividend was Monday, June 16th. This is a positive change from UnitedHealth Group’s previous quarterly dividend of $2.10. UnitedHealth Group’s payout ratio is presently 37.02%.

Analyst Upgrades and Downgrades

Several research analysts have commented on the stock. Bank of America lowered shares of UnitedHealth Group from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $560.00 to $350.00 in a research note on Wednesday, May 14th. Wall Street Zen lowered shares of UnitedHealth Group from a “buy” rating to a “hold” rating in a research report on Saturday, May 24th. HSBC reaffirmed a “reduce” rating and set a $270.00 target price (down previously from $490.00) on shares of UnitedHealth Group in a research note on Wednesday, May 21st. Truist Financial restated a “buy” rating and set a $360.00 price objective (down previously from $580.00) on shares of UnitedHealth Group in a report on Monday, May 19th. Finally, Oppenheimer cut their price target on shares of UnitedHealth Group from $600.00 to $400.00 and set an “outperform” rating on the stock in a report on Wednesday, May 14th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and sixteen have issued a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $415.57.

Read Our Latest Analysis on UnitedHealth Group

Insider Activity

In other UnitedHealth Group news, Director Kristen Gil purchased 3,700 shares of the firm’s stock in a transaction on Thursday, May 15th. The stock was bought at an average price of $271.17 per share, with a total value of $1,003,329.00. Following the transaction, the director now directly owns 3,818 shares of the company’s stock, valued at approximately $1,035,327.06. This represents a 3,135.59% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Timothy Patrick Flynn acquired 1,533 shares of UnitedHealth Group stock in a transaction dated Wednesday, May 14th. The stock was bought at an average price of $320.80 per share, for a total transaction of $491,786.40. Following the completion of the purchase, the director now owns 6,033 shares of the company’s stock, valued at approximately $1,935,386.40. This represents a 34.07% increase in their position. The disclosure for this purchase can be found here. Insiders have acquired a total of 109,408 shares of company stock valued at $31,607,768 in the last quarter. Insiders own 0.28% of the company’s stock.

UnitedHealth Group 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.

Further Reading

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