Park Place Capital Corp Lowers Stock Holdings in UnitedHealth Group Incorporated (NYSE:UNH)

Park Place Capital Corp lowered its holdings in UnitedHealth Group Incorporated (NYSE:UNH) by 8.2% in the first quarter, HoldingsChannel reports. The firm owned 4,177 shares of the healthcare conglomerate’s stock after selling 371 shares during the quarter. Park Place Capital Corp’s holdings in UnitedHealth Group were worth $2,066,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the business. Norges Bank acquired a new stake in UnitedHealth Group in the 4th quarter valued at about $5,802,231,000. International Assets Investment Management LLC lifted its stake in UnitedHealth Group by 53,573.1% in the fourth quarter. International Assets Investment Management LLC now owns 2,352,490 shares of the healthcare conglomerate’s stock worth $1,238,515,000 after acquiring an additional 2,348,107 shares during the last quarter. Jennison Associates LLC increased its position in shares of UnitedHealth Group by 49.3% in the 4th quarter. Jennison Associates LLC now owns 3,617,813 shares of the healthcare conglomerate’s stock valued at $1,904,670,000 after purchasing an additional 1,195,352 shares during the last quarter. California Public Employees Retirement System lifted its position in shares of UnitedHealth Group by 35.9% during the 4th quarter. California Public Employees Retirement System now owns 3,090,986 shares of the healthcare conglomerate’s stock worth $1,627,311,000 after purchasing an additional 815,822 shares during the last quarter. Finally, Public Employees Retirement Association of Colorado increased its holdings in UnitedHealth Group by 3,464.9% in the fourth quarter. Public Employees Retirement Association of Colorado now owns 825,311 shares of the healthcare conglomerate’s stock valued at $434,501,000 after buying an additional 802,160 shares during the last quarter. 87.86% of the stock is currently owned by institutional investors and hedge funds.

UnitedHealth Group Price Performance

UnitedHealth Group stock opened at $494.43 on Tuesday. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.85 and a current ratio of 0.85. UnitedHealth Group Incorporated has a one year low of $436.38 and a one year high of $554.70. The company has a market cap of $455.07 billion, a P/E ratio of 30.22, a price-to-earnings-growth ratio of 1.48 and a beta of 0.60. The business has a fifty day moving average of $498.34 and a two-hundred day moving average of $501.63.

UnitedHealth Group (NYSE:UNH) last issued its earnings results 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. The company had revenue of $99.80 billion during the quarter, compared to analysts’ expectations of $99.23 billion. UnitedHealth Group had a net margin of 4.05% and a return on equity of 26.50%. The firm’s quarterly revenue was up 8.6% compared to the same quarter last year. During the same period last year, the company posted $6.26 earnings per share. As a group, analysts predict that UnitedHealth Group Incorporated will post 27.55 earnings per share for the current fiscal year.

UnitedHealth Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 25th. Investors of record on Monday, June 17th were paid a $2.10 dividend. This represents a $8.40 dividend on an annualized basis and a yield of 1.70%. 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 presently 51.34%.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on UNH shares. HSBC raised UnitedHealth Group from a “hold” rating to a “buy” rating and set a $580.00 target price on the stock in a research report on Wednesday, June 5th. Truist Financial reaffirmed a “buy” rating and issued a $600.00 target price on shares of UnitedHealth Group in a research report on Wednesday, April 17th. StockNews.com downgraded shares of UnitedHealth Group from a “buy” rating to a “hold” rating in a research note on Friday. Bank of America reissued a “buy” rating and issued a $675.00 target price on shares of UnitedHealth Group in a report on Thursday, March 7th. Finally, JPMorgan Chase & Co. boosted their price objective on UnitedHealth Group from $546.00 to $559.00 and gave the company an “overweight” rating in a research note on Thursday, May 30th. Three equities 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 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.