Chemung Canal Trust Co. Decreases Holdings in UnitedHealth Group Incorporated (NYSE:UNH)

Chemung Canal Trust Co. decreased its position in UnitedHealth Group Incorporated (NYSE:UNH) by 56.9% during the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 5,209 shares of the healthcare conglomerate’s stock after selling 6,873 shares during the period. Chemung Canal Trust Co.’s holdings in UnitedHealth Group were worth $2,577,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Paralel Advisors LLC boosted its holdings in UnitedHealth Group by 1.1% in the third quarter. Paralel Advisors LLC now owns 4,047 shares of the healthcare conglomerate’s stock valued at $2,040,000 after acquiring an additional 44 shares in the last quarter. Dempze Nancy E boosted its holdings in UnitedHealth Group by 3.8% in the third quarter. Dempze Nancy E now owns 6,270 shares of the healthcare conglomerate’s stock valued at $3,161,000 after acquiring an additional 232 shares in the last quarter. Caisse DE Depot ET Placement DU Quebec boosted its holdings in UnitedHealth Group by 18.4% in the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 459,102 shares of the healthcare conglomerate’s stock valued at $231,475,000 after acquiring an additional 71,456 shares in the last quarter. Waverly Advisors LLC boosted its holdings in UnitedHealth Group by 8.7% in the third quarter. Waverly Advisors LLC now owns 5,088 shares of the healthcare conglomerate’s stock valued at $2,565,000 after acquiring an additional 407 shares in the last quarter. Finally, Kolinsky Wealth Management LLC boosted its holdings in UnitedHealth Group by 3.3% in the third quarter. Kolinsky Wealth Management LLC now owns 2,552 shares of the healthcare conglomerate’s stock valued at $1,287,000 after acquiring an additional 81 shares in the last quarter. Institutional investors own 87.86% of the company’s stock.

UnitedHealth Group Stock Performance

Shares of UNH stock opened at $509.26 on Friday. The company has a 50 day moving average price of $498.34 and a 200-day moving average price of $501.96. UnitedHealth Group Incorporated has a 52 week low of $436.38 and a 52 week high of $554.70. The firm has a market capitalization of $468.72 billion, a PE ratio of 31.13, a P/E/G ratio of 1.48 and a beta of 0.58. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.69.

UnitedHealth Group (NYSE:UNH) last announced its quarterly earnings results on Tuesday, April 16th. The healthcare conglomerate reported $6.91 EPS for the quarter, topping analysts’ consensus estimates of $6.63 by $0.28. The firm had revenue of $99.80 billion during the quarter, compared to analyst estimates of $99.23 billion. UnitedHealth Group had a net margin of 4.05% and a return on equity of 26.50%. The business’s revenue for the quarter was up 8.6% on a year-over-year basis. During the same period in the previous year, the business posted $6.26 earnings per share. As a group, equities research analysts expect that UnitedHealth Group Incorporated will post 27.55 earnings per share for the current year.

UnitedHealth Group Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 25th. Investors of record on Monday, June 17th were given a dividend of $2.10 per share. This represents a $8.40 annualized dividend and a yield of 1.65%. This is a positive change from UnitedHealth Group’s previous quarterly dividend of $1.88. The ex-dividend date was Monday, June 17th. UnitedHealth Group’s payout ratio is 51.34%.

Analyst Upgrades and Downgrades

Several brokerages have commented on UNH. Deutsche Bank Aktiengesellschaft raised their price objective on UnitedHealth Group from $545.00 to $562.00 and gave the company a “buy” rating in a research report on Friday, April 19th. Robert W. Baird began coverage on UnitedHealth Group in a research report on Thursday, May 30th. They set an “outperform” rating and a $597.00 price objective for the company. StockNews.com lowered UnitedHealth Group from a “buy” rating to a “hold” rating in a research report on Friday. Truist Financial reissued a “buy” rating and set a $600.00 price objective on shares of UnitedHealth Group in a research report on Wednesday, April 17th. Finally, Bank of America reaffirmed a “buy” rating and issued a $675.00 price target on shares of UnitedHealth Group in a research report on Thursday, March 7th. Three investment analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $579.74.

About UnitedHealth Group

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.