Redmont Wealth Advisors LLC Purchases Shares of 115 UnitedHealth Group Incorporated (NYSE:UNH)

Redmont Wealth Advisors LLC purchased a new stake in UnitedHealth Group Incorporated (NYSE:UNH) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 115 shares of the healthcare conglomerate’s stock, valued at approximately $57,000.

Several other hedge funds also recently added to or reduced their stakes in UNH. Richelieu Gestion SA acquired a new position in shares of UnitedHealth Group during the 4th quarter worth about $26,000. CGC Financial Services LLC raised its position 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 purchasing an additional 50 shares during the last quarter. True Wealth Design LLC acquired a new position in shares of UnitedHealth Group during the 4th quarter worth about $31,000. LFA Lugano Financial Advisors SA raised its holdings in UnitedHealth Group by 148.1% in the 4th quarter. LFA Lugano Financial Advisors SA now owns 67 shares of the healthcare conglomerate’s stock valued at $35,000 after acquiring an additional 40 shares during the last quarter. Finally, Transcendent Capital Group LLC acquired a new stake in UnitedHealth Group in the 4th quarter valued at about $40,000. 87.86% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have commented on UNH shares. Baird R W upgraded shares of UnitedHealth Group to a “strong-buy” rating in a report on Thursday, May 30th. Erste Group Bank reissued a “hold” rating on shares of UnitedHealth Group in a research note on Wednesday, March 13th. Bank of America reissued a “buy” rating and issued a $675.00 price target on shares of UnitedHealth Group in a research note on Thursday, March 7th. Royal Bank of Canada dropped their price target on shares of UnitedHealth Group from $596.00 to $555.00 and set an “outperform” rating for the company in a research note on Wednesday, April 17th. Finally, TD Cowen dropped their price target on shares of UnitedHealth Group from $607.00 to $546.00 and set a “buy” rating for the company in a research note on Wednesday, April 10th. Three 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’s stock. According to data from MarketBeat.com, UnitedHealth Group presently has an average rating of “Moderate Buy” and an average target price of $579.74.

UnitedHealth Group Price Performance

Shares of UNH stock opened at $489.90 on Thursday. UnitedHealth Group Incorporated has a twelve month low of $436.38 and a twelve month high of $554.70. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.69. The company has a market capitalization of $450.90 billion, a PE ratio of 29.94, a price-to-earnings-growth ratio of 1.47 and a beta of 0.60. The firm has a fifty day simple moving average of $498.64 and a 200-day simple moving average of $501.12.

UnitedHealth Group (NYSE:UNH) last posted its quarterly earnings data on Tuesday, April 16th. The healthcare conglomerate reported $6.91 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 firm had revenue of $99.80 billion for the quarter, compared to the consensus estimate of $99.23 billion. During the same period in the prior year, the firm posted $6.26 EPS. The firm’s revenue was up 8.6% compared to the same quarter last year. Equities research analysts anticipate that UnitedHealth Group Incorporated will post 27.55 earnings per share for the current fiscal year.

UnitedHealth Group Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 25th. Investors of record on Monday, June 17th were issued a $2.10 dividend. This represents a $8.40 dividend on an annualized basis and a dividend yield of 1.71%. The ex-dividend date of this dividend was Monday, June 17th. This is a boost from UnitedHealth Group’s previous quarterly dividend of $1.88. UnitedHealth Group’s dividend payout ratio (DPR) is 51.34%.

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.