SK Wealth Management LLC Purchases Shares of 601 UnitedHealth Group Incorporated (NYSE:UNH)

SK Wealth Management LLC purchased a new position in UnitedHealth Group Incorporated (NYSE:UNH) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 601 shares of the healthcare conglomerate’s stock, valued at approximately $351,000.

Other institutional investors also recently added to or reduced their stakes in the company. State Street Corp increased its holdings in UnitedHealth Group by 1.3% during the 3rd quarter. State Street Corp now owns 45,540,102 shares of the healthcare conglomerate’s stock valued at $26,626,387,000 after purchasing an additional 563,554 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of UnitedHealth Group by 1.6% in the third quarter. Geode Capital Management LLC now owns 19,636,704 shares of the healthcare conglomerate’s stock valued at $11,440,133,000 after buying an additional 318,039 shares during the last quarter. Franklin Resources Inc. increased its position in UnitedHealth Group by 2.5% in the 3rd quarter. Franklin Resources Inc. now owns 8,061,916 shares of the healthcare conglomerate’s stock valued at $4,884,019,000 after acquiring an additional 193,800 shares in the last quarter. International Assets Investment Management LLC lifted its position in shares of UnitedHealth Group by 78,814.4% during the third quarter. International Assets Investment Management LLC now owns 5,296,737 shares of the healthcare conglomerate’s stock worth $3,096,896,000 after purchasing an additional 5,290,025 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its position in UnitedHealth Group by 30.0% in the 2nd quarter. Dimensional Fund Advisors LP now owns 3,816,254 shares of the healthcare conglomerate’s stock worth $1,942,956,000 after purchasing an additional 880,183 shares during the last quarter. 87.86% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on UNH shares. Cantor Fitzgerald upped their price target on UnitedHealth Group from $591.00 to $644.00 and gave the company an “overweight” rating in a research note on Wednesday, October 16th. Royal Bank of Canada dropped their price target on shares of UnitedHealth Group from $615.00 to $595.00 and set an “outperform” rating for the company in a research note on Wednesday, October 16th. Truist Financial reiterated a “buy” rating and set a $625.00 target price (down previously from $640.00) on shares of UnitedHealth Group in a research report on Wednesday, October 16th. UBS Group dropped their price objective on UnitedHealth Group from $680.00 to $650.00 and set a “buy” rating for the company in a report on Wednesday, October 16th. Finally, KeyCorp started coverage on shares of UnitedHealth Group in a research report on Friday, October 11th. They issued an “overweight” rating and a $675.00 price target on the stock. Three investment analysts have rated the stock with a hold rating, eighteen have issued a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $626.84.

UnitedHealth Group Stock Down 0.4 %

Shares of UnitedHealth Group stock traded down $1.84 on Monday, reaching $508.15. 3,098,684 shares of the company were exchanged, compared to its average volume of 4,096,950. The company has a market capitalization of $467.64 billion, a price-to-earnings ratio of 33.10, a PEG ratio of 1.53 and a beta of 0.58. UnitedHealth Group Incorporated has a one year low of $436.38 and a one year high of $630.73. The company has a 50-day moving average of $565.71 and a 200 day moving average of $560.67. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 0.74.

UnitedHealth Group (NYSE:UNH) last issued its earnings results on Tuesday, October 15th. The healthcare conglomerate reported $7.15 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $7.00 by $0.15. The company had revenue of $100.82 billion for the quarter, compared to analysts’ expectations of $99.14 billion. UnitedHealth Group had a net margin of 3.63% and a return on equity of 26.37%. UnitedHealth Group’s quarterly revenue was up 9.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $6.56 EPS. On average, equities research analysts forecast that UnitedHealth Group Incorporated will post 27.61 earnings per share for the current year.

UnitedHealth Group Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 17th. Shareholders of record on Monday, December 9th were given a $2.10 dividend. The ex-dividend date was Monday, December 9th. This represents a $8.40 dividend on an annualized basis and a dividend yield of 1.65%. UnitedHealth Group’s dividend payout ratio (DPR) is presently 54.72%.

UnitedHealth Group Company 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.