UnitedHealth Group Incorporated (NYSE:UNH) Shares Bought by Assetmark Inc.

Key Points

• Assetmark Inc. increased its holdings in UnitedHealth Group (NYSE:UNH) by 2.9%, owning 139,891 shares worth approximately $73 million at the end of the latest quarter.
• Analysts have set a consensus price target of $392.29 for UnitedHealth Group, with varied ratings ranging from "sell" to "buy" across multiple firms.
• UnitedHealth Group announced an increase in its quarterly dividend to $2.21 per share, representing a yield of 3.15% and reflecting a dividend payout ratio of 37.02%.

Assetmark Inc. boosted its position in UnitedHealth Group Incorporated (NYSE:UNH - Free Report) by 2.9% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 139,891 shares of the healthcare conglomerate's stock after purchasing an additional 3,955 shares during the period. Assetmark Inc.'s holdings in UnitedHealth Group were worth $73,268,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Brighton Jones LLC lifted its position in shares of UnitedHealth Group by 176.2% during the 4th quarter. Brighton Jones LLC now owns 44,249 shares of the healthcare conglomerate's stock valued at $22,384,000 after acquiring an additional 28,231 shares during the period. Revolve Wealth Partners LLC raised its position in shares of UnitedHealth Group by 137.1% during the 4th quarter. Revolve Wealth Partners LLC now owns 4,019 shares of the healthcare conglomerate's stock worth $2,033,000 after purchasing an additional 2,324 shares during the last quarter. Bank Pictet & Cie Europe AG raised its position in shares of UnitedHealth Group by 3.9% during the 4th quarter. Bank Pictet & Cie Europe AG now owns 263,655 shares of the healthcare conglomerate's stock worth $133,373,000 after purchasing an additional 9,872 shares during the last quarter. Financial Engines Advisors L.L.C. raised its position in shares of UnitedHealth Group by 59.3% during the 4th quarter. Financial Engines Advisors L.L.C. now owns 3,835 shares of the healthcare conglomerate's stock worth $1,940,000 after purchasing an additional 1,428 shares during the last quarter. Finally, Ausdal Financial Partners Inc. raised its position in shares of UnitedHealth Group by 8.3% during the 4th quarter. Ausdal Financial Partners Inc. now owns 1,756 shares of the healthcare conglomerate's stock worth $888,000 after purchasing an additional 134 shares during the last quarter. Institutional investors and hedge funds own 87.86% of the company's stock.

Insider Buying and Selling at UnitedHealth Group

In other UnitedHealth Group news, CEO Stephen J. Hemsley acquired 86,700 shares of the stock in a transaction that occurred on Friday, May 16th. The stock was acquired at an average price of $288.57 per share, with a total value of $25,019,019.00. Following the transaction, the chief executive officer directly owned 679,493 shares in the company, valued at approximately $196,081,295.01. This represents a 14.63% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Timothy Patrick Flynn acquired 1,533 shares of the stock in a transaction that occurred on Wednesday, May 14th. The shares were acquired at an average cost of $320.80 per share, with a total value of $491,786.40. Following the transaction, the director owned 6,033 shares in the company, valued at approximately $1,935,386.40. The trade was a 34.07% increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last quarter, insiders have purchased 109,408 shares of company stock worth $31,607,768. 0.28% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several research analysts recently issued reports on UNH shares. Royal Bank Of Canada cut their price objective on UnitedHealth Group from $525.00 to $355.00 and set an "outperform" rating for the company in a research report on Friday, May 16th. Deutsche Bank Aktiengesellschaft lowered their target price on shares of UnitedHealth Group from $521.00 to $362.00 and set a "buy" rating for the company in a research note on Wednesday, May 14th. Piper Sandler lowered their target price on shares of UnitedHealth Group from $552.00 to $353.00 and set an "overweight" rating for the company in a research note on Tuesday, June 3rd. Bank of America cut shares of UnitedHealth Group from a "buy" rating to a "neutral" rating and lowered their target price for the stock from $560.00 to $350.00 in a research note on Wednesday, May 14th. Finally, Argus cut shares of UnitedHealth Group from a "buy" rating to a "hold" rating in a research note on Monday, April 21st. One research analyst has rated the stock with a sell rating, nine have given a hold rating and fifteen have issued a buy rating to the company's stock. Based on data from MarketBeat, UnitedHealth Group currently has an average rating of "Moderate Buy" and an average target price of $392.29.

UnitedHealth Group Stock Up 0.5%

Shares of UnitedHealth Group stock traded up $1.27 during trading on Monday, reaching $282.33. The company had a trading volume of 6,294,693 shares, compared to its average volume of 11,323,208. The company has a market cap of $256.11 billion, a price-to-earnings ratio of 11.82, a price-to-earnings-growth ratio of 1.39 and a beta of 0.45. The firm's fifty day moving average is $301.58 and its 200-day moving average is $424.22. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.85 and a current ratio of 0.85. UnitedHealth Group Incorporated has a fifty-two week low of $248.88 and a fifty-two week high of $630.73.

UnitedHealth Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 24th. Investors of record on Monday, June 16th were given a dividend of $2.21 per share. This represents a $8.84 dividend on an annualized basis and a dividend yield of 3.13%. The ex-dividend date of this dividend was Monday, June 16th. This is an increase from UnitedHealth Group's previous quarterly dividend of $2.10. UnitedHealth Group's dividend payout ratio is currently 37.02%.

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.