Avantax Advisory Services Inc. Grows Stock Holdings in UnitedHealth Group Incorporated (NYSE:UNH)

Key Points

• Avantax Advisory Services Inc. increased its stake in UnitedHealth Group by 2.3% during the first quarter, owning 69,520 shares valued at approximately $36.4 million.
• UnitedHealth Group's quarterly dividend was raised from $2.10 to $2.21, reflecting a positive growth in its annualized payout and a yield of 3.15%.
• Analysts show mixed reviews on UnitedHealth Group's stock, with ratings ranging from sell to buy, and a consensus target price of $392.29, indicating uncertainty in future performance.

Avantax Advisory Services Inc. grew its position in UnitedHealth Group Incorporated (NYSE:UNH - Free Report) by 2.3% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 69,520 shares of the healthcare conglomerate's stock after purchasing an additional 1,570 shares during the quarter. Avantax Advisory Services Inc.'s holdings in UnitedHealth Group were worth $36,411,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of UNH. Geode Capital Management LLC boosted its holdings in UnitedHealth Group by 1.6% in the fourth quarter. Geode Capital Management LLC now owns 19,956,219 shares of the healthcare conglomerate's stock valued at $10,068,869,000 after purchasing an additional 319,515 shares during the last quarter. Capital International Investors lifted its holdings in shares of UnitedHealth Group by 6.2% in the 4th quarter. Capital International Investors now owns 15,616,007 shares of the healthcare conglomerate's stock valued at $7,899,905,000 after buying an additional 906,365 shares during the period. Norges Bank acquired a new position in shares of UnitedHealth Group in the 4th quarter valued at about $6,375,744,000. Northern Trust Corp lifted its holdings in shares of UnitedHealth Group by 12.5% in the 4th quarter. Northern Trust Corp now owns 9,503,671 shares of the healthcare conglomerate's stock valued at $4,807,527,000 after buying an additional 1,058,488 shares during the period. Finally, Franklin Resources Inc. lifted its holdings in shares of UnitedHealth Group by 10.7% in the 4th quarter. Franklin Resources Inc. now owns 8,923,770 shares of the healthcare conglomerate's stock valued at $4,514,178,000 after buying an additional 861,854 shares during the period. 87.86% of the stock is owned by hedge funds and other institutional investors.

UnitedHealth Group Trading Up 0.5%

Shares of NYSE UNH traded up $1.52 during midday trading on Monday, reaching $282.58. 6,184,088 shares of the stock were exchanged, compared to its average volume of 11,320,663. The company has a 50 day simple moving average of $301.58 and a 200 day simple moving average of $424.22. The stock has a market capitalization of $256.34 billion, a P/E ratio of 11.82, a PEG ratio of 1.39 and a beta of 0.45. 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 twelve month low of $248.88 and a twelve month high of $630.73.

UnitedHealth Group Increases Dividend

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

Insider Activity

In related news, CEO Patrick Hugh Conway sold 589 shares of the stock in a transaction that occurred on Tuesday, June 10th. The shares were sold at an average price of $305.00, for a total transaction of $179,645.00. Following the completion of the transaction, the chief executive officer owned 10,398 shares of the company's stock, valued at approximately $3,171,390. This trade represents a 5.36% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO John F. Rex purchased 17,175 shares of the firm's stock in a transaction on Friday, May 16th. The stock was acquired at an average cost of $291.12 per share, with a total value of $4,999,986.00. Following the transaction, the chief financial officer directly owned 203,796 shares in the company, valued at $59,329,091.52. This trade represents a 9.20% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have bought a total of 109,408 shares of company stock worth $31,607,768 in the last three months. 0.28% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

UNH has been the subject of a number of analyst reports. Wall Street Zen downgraded shares of UnitedHealth Group from a "buy" rating to a "hold" rating in a research report on Saturday, May 24th. Wolfe Research decreased their price objective on shares of UnitedHealth Group from $501.00 to $390.00 and set an "outperform" rating for the company in a research report on Tuesday, May 20th. Royal Bank Of Canada decreased their price objective on shares of UnitedHealth Group from $525.00 to $355.00 and set an "outperform" rating for the company in a research report on Friday, May 16th. Truist Financial decreased their price objective on shares of UnitedHealth Group from $360.00 to $345.00 and set a "buy" rating for the company in a research report on Wednesday, July 16th. Finally, Raymond James Financial downgraded shares of UnitedHealth Group from a "strong-buy" rating to a "market perform" rating in a research report on Wednesday, May 14th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and fifteen have assigned a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $392.29.

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.