Carnegie Investment Counsel Buys 68,219 Shares of UnitedHealth Group Incorporated (NYSE:UNH)

Carnegie Investment Counsel raised its stake in shares of UnitedHealth Group Incorporated (NYSE:UNH - Free Report) by 256.3% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 94,831 shares of the healthcare conglomerate's stock after purchasing an additional 68,219 shares during the quarter. UnitedHealth Group accounts for about 1.1% of Carnegie Investment Counsel's holdings, making the stock its 16th biggest holding. Carnegie Investment Counsel's holdings in UnitedHealth Group were worth $49,694,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also bought and sold shares of UNH. Citizens National Bank Trust Department increased its stake in shares of UnitedHealth Group by 1.0% in the first quarter. Citizens National Bank Trust Department now owns 17,886 shares of the healthcare conglomerate's stock worth $9,368,000 after buying an additional 170 shares during the period. Fort Washington Investment Advisors Inc. OH increased its stake in shares of UnitedHealth Group by 0.3% in the first quarter. Fort Washington Investment Advisors Inc. OH now owns 530,103 shares of the healthcare conglomerate's stock worth $277,641,000 after buying an additional 1,465 shares during the period. Sherbrooke Park Advisers LLC purchased a new position in shares of UnitedHealth Group in the fourth quarter worth $515,000. Full Sail Capital LLC increased its position in UnitedHealth Group by 2.1% during the 4th quarter. Full Sail Capital LLC now owns 1,612 shares of the healthcare conglomerate's stock valued at $815,000 after purchasing an additional 33 shares during the period. Finally, Soros Fund Management LLC purchased a new position in UnitedHealth Group during the 4th quarter valued at $39,413,000. 87.86% of the stock is currently owned by institutional investors.

UnitedHealth Group Stock Performance

UnitedHealth Group stock traded down $13.99 during midday trading on Thursday, hitting $278.52. The stock had a trading volume of 22,499,738 shares, compared to its average volume of 11,547,906. The firm's fifty day moving average is $301.79 and its two-hundred day moving average is $427.21. The company has a market capitalization of $252.66 billion, a PE ratio of 11.66, a P/E/G ratio of 1.45 and a beta of 0.45. UnitedHealth Group Incorporated has a 52-week low of $248.88 and a 52-week high of $630.73. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.71.

UnitedHealth Group Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 24th. Investors of record on Monday, June 16th were issued a $2.21 dividend. This represents a $8.84 annualized dividend and a yield of 3.17%. This is a positive change from UnitedHealth Group's previous quarterly dividend of $2.10. The ex-dividend date of this dividend was Monday, June 16th. UnitedHealth Group's dividend payout ratio is currently 37.02%.

Analyst Ratings Changes

A number of research analysts have issued reports on the stock. Oppenheimer reduced their price objective on shares of UnitedHealth Group from $600.00 to $400.00 and set an "outperform" rating on the stock in a research report on Wednesday, May 14th. Mizuho reduced their target price on shares of UnitedHealth Group from $515.00 to $350.00 and set an "outperform" rating on the stock in a research report on Friday, May 16th. Deutsche Bank Aktiengesellschaft reduced their target price on shares of UnitedHealth Group from $521.00 to $362.00 and set a "buy" rating on the stock in a research report on Wednesday, May 14th. Argus downgraded shares of UnitedHealth Group from a "buy" rating to a "hold" rating in a research report on Monday, April 21st. Finally, Bank of America cut shares of UnitedHealth Group from a "buy" rating to a "neutral" rating and dropped their price target for the stock from $560.00 to $350.00 in a research note on Wednesday, May 14th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and fifteen have given a buy rating to the company's stock. According to MarketBeat.com, UnitedHealth Group presently has a consensus rating of "Moderate Buy" and an average target price of $394.43.

Insider Buying and Selling at UnitedHealth Group

In related news, CEO Stephen J. Hemsley acquired 86,700 shares of the business's stock in a transaction on Friday, May 16th. The stock was acquired at an average cost of $288.57 per share, with a total value of $25,019,019.00. Following the acquisition, the chief executive officer directly owned 679,493 shares in the company, valued at $196,081,295.01. This represents a 14.63% increase in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, 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 value of $179,645.00. Following the transaction, the chief executive officer owned 10,398 shares of the company's stock, valued at $3,171,390. This represents a 5.36% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders bought 109,408 shares of company stock worth $31,607,768. Insiders own 0.28% of the company's stock.

UnitedHealth Group 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.