Sandy Cove Advisors LLC Raises Position in UnitedHealth Group Incorporated (NYSE:UNH)

Sandy Cove Advisors LLC lifted its position in shares of UnitedHealth Group Incorporated (NYSE:UNH) by 5.4% during the 1st quarter, HoldingsChannel reports. The firm owned 1,018 shares of the healthcare conglomerate’s stock after acquiring an additional 52 shares during the period. Sandy Cove Advisors LLC’s holdings in UnitedHealth Group were worth $504,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Richelieu Gestion SA purchased a new stake in UnitedHealth Group in the fourth quarter worth about $26,000. CGC Financial Services LLC boosted its holdings in UnitedHealth Group by 1,000.0% in the fourth 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 bought a new position in UnitedHealth Group in the 4th quarter worth about $31,000. LFA Lugano Financial Advisors SA increased its stake in 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 in the last quarter. Finally, Transcendent Capital Group LLC bought a new position in shares of UnitedHealth Group in the fourth quarter worth approximately $40,000. Hedge funds and other institutional investors own 87.86% of the company’s stock.

UnitedHealth Group Price Performance

NYSE:UNH opened at $509.26 on Monday. The stock has a market cap of $468.72 billion, a PE ratio of 31.13, a P/E/G ratio of 1.48 and a beta of 0.60. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.69. The business’s 50-day simple moving average is $498.34 and its two-hundred day simple moving average is $501.63. UnitedHealth Group Incorporated has a 52 week low of $436.38 and a 52 week high of $554.70.

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

UnitedHealth Group Increases Dividend

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

Wall Street Analyst Weigh In

UNH has been the topic of several recent analyst reports. Piper Sandler increased their price objective on UnitedHealth Group from $566.00 to $571.00 and gave the company an “overweight” rating in a research report on Wednesday, April 17th. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of UnitedHealth Group from $545.00 to $562.00 and gave the company a “buy” rating in a report on Friday, April 19th. JPMorgan Chase & Co. boosted their target price on shares of UnitedHealth Group from $546.00 to $559.00 and gave the company an “overweight” rating in a research note on Thursday, May 30th. Morgan Stanley cut their price objective on UnitedHealth Group from $618.00 to $584.00 and set an “overweight” rating for the company in a report on Friday, April 5th. Finally, Cantor Fitzgerald reissued an “overweight” rating and issued a $591.00 target price on shares of UnitedHealth Group in a research report on Wednesday, June 12th. Three research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, UnitedHealth Group currently has a consensus rating of “Moderate Buy” and a consensus price target 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.