CenterBook Partners LP Decreases Stock Holdings in UnitedHealth Group Incorporated (NYSE:UNH)

CenterBook Partners LP lowered its holdings in shares of UnitedHealth Group Incorporated (NYSE:UNH - Free Report) by 84.7% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,480 shares of the healthcare conglomerate's stock after selling 13,751 shares during the quarter. CenterBook Partners LP's holdings in UnitedHealth Group were worth $1,299,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of the business. Marshall & Sterling Wealth Advisors Inc. acquired a new stake in UnitedHealth Group in the 4th quarter valued at approximately $26,000. Hurley Capital LLC bought a new position in shares of UnitedHealth Group during the 4th quarter worth approximately $28,000. Bayforest Capital Ltd boosted its stake in shares of UnitedHealth Group by 685.7% during the 1st quarter. Bayforest Capital Ltd now owns 55 shares of the healthcare conglomerate's stock worth $29,000 after acquiring an additional 48 shares during the period. Aster Capital Management DIFC Ltd bought a new position in shares of UnitedHealth Group during the 4th quarter worth approximately $30,000. Finally, Kapitalo Investimentos Ltda bought a new position in shares of UnitedHealth Group during the 4th quarter worth approximately $41,000. Institutional investors and hedge funds own 87.86% of the company's stock.

UnitedHealth Group Price Performance

UNH stock traded down $4.46 during midday trading on Thursday, reaching $288.03. 14,738,720 shares of the stock were exchanged, compared to its average volume of 7,770,851. The stock has a market capitalization of $261.28 billion, a PE ratio of 12.06, a P/E/G ratio of 1.42 and a beta of 0.45. The company has a fifty day moving average price of $306.43 and a 200 day moving average price of $434.93. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.85 and a quick ratio of 0.85. UnitedHealth Group Incorporated has a 52 week low of $248.88 and a 52 week high of $630.73.

UnitedHealth Group (NYSE:UNH - Get Free Report) last issued its quarterly earnings results on Thursday, April 17th. The healthcare conglomerate reported $7.20 earnings per share for the quarter, missing the consensus estimate of $7.29 by ($0.09). The company had revenue of $109.58 billion during the quarter, compared to analyst estimates of $111.56 billion. UnitedHealth Group had a net margin of 5.39% and a return on equity of 26.29%. During the same period in the previous year, the company posted $6.91 EPS. As a group, analysts expect that UnitedHealth Group Incorporated will post 29.54 EPS for the current fiscal year.

UnitedHealth Group Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, June 24th. Shareholders of record on Monday, June 16th were issued a $2.21 dividend. The ex-dividend date of this dividend was Monday, June 16th. This represents a $8.84 annualized dividend and a yield of 3.07%. This is a positive change from UnitedHealth Group's previous quarterly dividend of $2.10. UnitedHealth Group's dividend payout ratio is presently 37.02%.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on UNH. TD Cowen downgraded UnitedHealth Group from a "buy" rating to a "hold" rating and set a $308.00 price target for the company. in a research note on Monday, May 19th. Bank of America downgraded UnitedHealth Group from a "buy" rating to a "neutral" rating and reduced their price target for the company from $560.00 to $350.00 in a research note on Wednesday, May 14th. TD Securities restated a "hold" rating and issued a $308.00 price target (down from $520.00) on shares of UnitedHealth Group in a research note on Monday, May 19th. HSBC reaffirmed a "reduce" rating and issued a $270.00 price objective (down from $490.00) on shares of UnitedHealth Group in a report on Wednesday, May 21st. Finally, Hsbc Global Res cut UnitedHealth Group from a "hold" rating to a "moderate sell" rating in a report on Wednesday, May 21st. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and sixteen have given a buy rating to the company's stock. According to data from MarketBeat, UnitedHealth Group has a consensus rating of "Moderate Buy" and an average target price of $414.35.

Insiders Place Their Bets

In other news, Director Kristen Gil purchased 3,700 shares of the business's stock in a transaction on Thursday, May 15th. The shares were acquired at an average price of $271.17 per share, for a total transaction of $1,003,329.00. Following the completion of the acquisition, the director owned 3,818 shares in the company, valued at approximately $1,035,327.06. The trade was a 3,135.59% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Timothy Patrick Flynn acquired 1,533 shares of the stock in a transaction dated Wednesday, May 14th. The stock was bought at an average cost of $320.80 per share, with a total value of $491,786.40. Following the completion of the purchase, the director owned 6,033 shares of the company's stock, 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. In the last quarter, insiders have purchased 109,408 shares of company stock valued at $31,607,768. 0.28% of the stock is currently owned by corporate insiders.

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.