Griffin Asset Management Inc. Boosts Stock Holdings in UnitedHealth Group Incorporated (NYSE:UNH)

Griffin Asset Management Inc. boosted its holdings in shares of UnitedHealth Group Incorporated (NYSE:UNH) by 11.8% during the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 15,455 shares of the healthcare conglomerate’s stock after acquiring an additional 1,635 shares during the quarter. Griffin Asset Management Inc.’s holdings in UnitedHealth Group were worth $7,646,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of UNH. Richelieu Gestion SA bought a new position in UnitedHealth Group in the fourth quarter worth about $26,000. CGC Financial Services LLC raised its stake in shares of UnitedHealth Group by 1,000.0% during the 4th quarter. CGC Financial Services LLC now owns 55 shares of the healthcare conglomerate’s stock worth $29,000 after acquiring an additional 50 shares in the last quarter. True Wealth Design LLC acquired a new stake in UnitedHealth Group in the fourth quarter valued at approximately $31,000. LFA Lugano Financial Advisors SA lifted its holdings in shares of UnitedHealth Group by 148.1% during the 4th quarter. LFA Lugano Financial Advisors SA now owns 67 shares of the healthcare conglomerate’s stock valued at $35,000 after purchasing an additional 40 shares during the last quarter. Finally, Transcendent Capital Group LLC purchased a new position in UnitedHealth Group during the 4th quarter worth $40,000. Hedge funds and other institutional investors own 87.86% of the company’s stock.

UnitedHealth Group Stock Performance

NYSE UNH opened at $509.26 on Friday. The stock has a market capitalization of $468.72 billion, a price-to-earnings ratio of 31.13, a PEG ratio of 1.48 and a beta of 0.58. UnitedHealth Group Incorporated has a twelve month low of $436.38 and a twelve month high of $554.70. The stock has a 50-day moving average of $498.34 and a 200 day moving average of $501.96. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.69.

UnitedHealth Group (NYSE:UNH) last released its quarterly earnings results on Tuesday, April 16th. The healthcare conglomerate reported $6.91 earnings per share for the quarter, topping the consensus estimate of $6.63 by $0.28. The firm had revenue of $99.80 billion during the quarter, compared to the consensus estimate of $99.23 billion. UnitedHealth Group had a net margin of 4.05% and a return on equity of 26.50%. The company’s revenue for the quarter was up 8.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $6.26 EPS. Sell-side analysts anticipate that UnitedHealth Group Incorporated will post 27.55 EPS for the current fiscal year.

UnitedHealth Group Increases Dividend

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

Wall Street Analyst Weigh In

UNH has been the subject of several recent analyst reports. Morgan Stanley lowered their price target on UnitedHealth Group from $618.00 to $584.00 and set an “overweight” rating for the company in a report on Friday, April 5th. Robert W. Baird assumed coverage on shares of UnitedHealth Group in a research note on Thursday, May 30th. They set an “outperform” rating and a $597.00 price target on the stock. Bank of America reissued a “buy” rating and set a $675.00 price objective on shares of UnitedHealth Group in a report on Thursday, March 7th. HSBC raised UnitedHealth Group from a “hold” rating to a “buy” rating and set a $580.00 price target for the company in a research report on Wednesday, June 5th. Finally, Barclays lifted their target price on UnitedHealth Group from $534.00 to $560.00 and gave the stock an “overweight” rating in a report on Wednesday, April 17th. Three research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $579.74.

UnitedHealth Group Profile

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.