First Fiduciary Investment Counsel Inc. Reduces Holdings in UnitedHealth Group Incorporated (NYSE:UNH)

by · The Cerbat Gem

First Fiduciary Investment Counsel Inc. trimmed its holdings in shares of UnitedHealth Group Incorporated (NYSE:UNH – Free Report) by 2.3% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 16,939 shares of the healthcare conglomerate’s stock after selling 393 shares during the period. UnitedHealth Group comprises approximately 1.9% of First Fiduciary Investment Counsel Inc.’s holdings, making the stock its 27th biggest holding. First Fiduciary Investment Counsel Inc.’s holdings in UnitedHealth Group were worth $8,872,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. NewSquare Capital LLC acquired a new position in UnitedHealth Group in the 4th quarter valued at $25,000. Marshall & Sterling Wealth Advisors Inc. purchased a new position in UnitedHealth Group during the fourth quarter worth about $26,000. Hurley Capital LLC purchased a new stake in UnitedHealth Group in the 4th quarter valued at about $28,000. Aster Capital Management DIFC Ltd purchased a new position in shares of UnitedHealth Group during the 4th quarter worth about $30,000. Finally, Promus Capital LLC acquired a new position in UnitedHealth Group during the fourth quarter worth approximately $32,000. Institutional investors and hedge funds own 87.86% of the company’s stock.

UnitedHealth Group Stock Up 2.1%

Shares of UnitedHealth Group stock opened at $308.85 on Monday. The firm has a market cap of $280.17 billion, a P/E ratio of 12.93, a P/E/G ratio of 1.46 and a beta of 0.45. The business has a 50-day moving average price of $336.21 and a 200 day moving average price of $453.53. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.71. UnitedHealth Group Incorporated has a fifty-two week low of $248.88 and a fifty-two week high of $630.73.

UnitedHealth Group (NYSE:UNH – Get Free Report) last released its earnings results on Thursday, April 17th. The healthcare conglomerate reported $7.20 earnings per share for the quarter, missing the consensus estimate of $7.29 by ($0.09). UnitedHealth Group had a net margin of 5.39% and a return on equity of 26.29%. The business had revenue of $109.58 billion for the quarter, compared to the consensus estimate of $111.56 billion. During the same quarter in the previous year, the firm earned $6.91 EPS. On average, sell-side analysts forecast that UnitedHealth Group Incorporated will post 29.54 earnings per share for the current fiscal year.

UnitedHealth Group Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 24th. Investors of record on Monday, June 16th were given a dividend of $2.21 per share. The ex-dividend date was Monday, June 16th. This represents a $8.84 dividend on an annualized basis and a yield of 2.86%. This is a positive change from UnitedHealth Group’s previous quarterly dividend of $2.10. UnitedHealth Group’s payout ratio is currently 37.02%.

Wall Street Analysts Forecast Growth

UNH has been the topic of several research reports. Royal Bank Of Canada cut their target price on UnitedHealth Group from $525.00 to $355.00 and set an “outperform” rating on the stock in a research report on Friday, May 16th. Oppenheimer reduced their price objective on UnitedHealth Group from $600.00 to $400.00 and set an “outperform” rating on the stock in a research note on Wednesday, May 14th. Mizuho cut their price target on shares of UnitedHealth Group from $515.00 to $350.00 and set an “outperform” rating on the stock in a report on Friday, May 16th. HSBC reissued a “reduce” rating and issued a $270.00 target price (down previously from $490.00) on shares of UnitedHealth Group in a research note on Wednesday, May 21st. Finally, Robert W. Baird downgraded UnitedHealth Group from an “outperform” rating to a “neutral” rating and set a $312.00 price target for the company. in a report on Wednesday, June 11th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and sixteen have issued a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $415.57.

Read Our Latest Research Report on UnitedHealth Group

Insiders Place Their Bets

In related news, CEO Stephen J. Hemsley bought 86,700 shares of the stock in a transaction on Friday, May 16th. The shares were purchased at an average price of $288.57 per share, with a total value of $25,019,019.00. Following the purchase, the chief executive officer now owns 679,493 shares in the company, valued at approximately $196,081,295.01. This represents a 14.63% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Timothy Patrick Flynn acquired 1,533 shares of the firm’s stock in a transaction dated Wednesday, May 14th. The stock was bought at an average price of $320.80 per share, with a total value of $491,786.40. Following the completion of the acquisition, the director now directly owns 6,033 shares of the company’s stock, valued at approximately $1,935,386.40. This represents a 34.07% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have purchased 109,408 shares of company stock valued at $31,607,768 over the last three months. Company 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.

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