Cornerstone Wealth Group LLC Has $7.61 Million Stake in UnitedHealth Group Incorporated (NYSE:UNH)

by · The Cerbat Gem

Cornerstone Wealth Group LLC increased its stake in shares of UnitedHealth Group Incorporated (NYSE:UNH – Free Report) by 18.8% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 14,535 shares of the healthcare conglomerate’s stock after buying an additional 2,305 shares during the quarter. Cornerstone Wealth Group LLC’s holdings in UnitedHealth Group were worth $7,613,000 at the end of the most recent quarter.

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

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on UNH shares. Argus downgraded UnitedHealth Group from a “buy” rating to a “hold” rating in a research note on Monday, April 21st. Royal Bank Of Canada cut their price target on UnitedHealth Group from $525.00 to $355.00 and set an “outperform” rating for the company in a research note on Friday, May 16th. TD Cowen downgraded UnitedHealth Group from a “buy” rating to a “hold” rating and set a $308.00 price target for the company. in a research note on Monday, May 19th. 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 research note on Wednesday, June 11th. Finally, Wells Fargo & Company reissued an “overweight” rating on shares of UnitedHealth Group in a report on Friday, June 6th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and sixteen have given a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $427.09.

Check Out Our Latest Stock Report on UNH

Insider Buying and Selling

In other UnitedHealth Group news, Director Timothy Patrick Flynn acquired 1,533 shares of the business’s stock in a transaction dated Wednesday, May 14th. The shares were purchased at an average cost of $320.80 per share, for a total transaction of $491,786.40. Following the transaction, the director now owns 6,033 shares in the company, valued at $1,935,386.40. This represents a 34.07% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Patrick Hugh Conway sold 589 shares of UnitedHealth Group stock in a transaction that occurred on Tuesday, June 10th. The stock was sold at an average price of $305.00, for a total value of $179,645.00. Following the completion of the sale, the chief executive officer now owns 10,398 shares in the company, valued at approximately $3,171,390. This represents a 5.36% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have purchased a total of 109,408 shares of company stock worth $31,607,768 in the last ninety days. 0.28% of the stock is owned by insiders.

UnitedHealth Group Price Performance

Shares of UnitedHealth Group stock opened at $300.85 on Tuesday. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.71. The firm has a market capitalization of $272.91 billion, a PE ratio of 12.60, a price-to-earnings-growth ratio of 1.42 and a beta of 0.45. The business’s 50-day moving average price is $353.44 and its 200-day moving average price is $460.22. UnitedHealth Group Incorporated has a 12 month low of $248.88 and a 12 month high of $630.73.

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

UnitedHealth Group Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 24th. Investors of record on Monday, June 16th will be given a dividend of $2.21 per share. This represents a $8.84 annualized dividend and a yield of 2.94%. This is a positive change from UnitedHealth Group’s previous quarterly dividend of $2.10. The ex-dividend date is Monday, June 16th. UnitedHealth Group’s dividend payout ratio (DPR) is presently 37.02%.

About UnitedHealth Group

(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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