Chemung Canal Trust Co. Has $2.46 Million Stock Holdings in UnitedHealth Group Incorporated (NYSE:UNH)

Chemung Canal Trust Co. trimmed its position in shares of UnitedHealth Group Incorporated (NYSE:UNH - Free Report) by 49.4% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 4,692 shares of the healthcare conglomerate's stock after selling 4,574 shares during the period. Chemung Canal Trust Co.'s holdings in UnitedHealth Group were worth $2,457,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the business. Marshall & Sterling Wealth Advisors Inc. acquired a new position in UnitedHealth Group during the 4th quarter valued at about $26,000. Hurley Capital LLC bought a new stake in UnitedHealth Group during the fourth quarter worth approximately $28,000. Aster Capital Management DIFC Ltd bought a new position in UnitedHealth Group during the 4th quarter valued at $30,000. Kapitalo Investimentos Ltda bought a new stake in shares of UnitedHealth Group in the 4th quarter worth $41,000. Finally, Copia Wealth Management bought a new position in UnitedHealth Group during the fourth quarter valued at about $42,000. 87.86% of the stock is currently owned by institutional investors and hedge funds.

UnitedHealth Group Stock Performance

NYSE UNH traded up $4.30 during midday trading on Friday, hitting $303.81. The company had a trading volume of 9,789,082 shares, compared to its average volume of 7,670,753. UnitedHealth Group Incorporated has a fifty-two week low of $248.88 and a fifty-two week high of $630.73. The stock has a market cap of $275.60 billion, a price-to-earnings ratio of 12.72, a P/E/G ratio of 1.45 and a beta of 0.45. The firm has a fifty day simple moving average of $316.42 and a two-hundred day simple moving average of $442.28. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.71.

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

UnitedHealth Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 24th. Shareholders of record on Monday, June 16th were paid a $2.21 dividend. The ex-dividend date of this dividend was Monday, June 16th. This represents a $8.84 dividend on an annualized basis and a yield of 2.91%. This is a positive change from UnitedHealth Group's previous quarterly dividend of $2.10. UnitedHealth Group's payout ratio is currently 37.02%.

Insider Buying and Selling

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 value of $179,645.00. Following the sale, the chief executive officer directly owned 10,398 shares in the company, valued at $3,171,390. This trade represents a 5.36% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Timothy Patrick Flynn acquired 1,533 shares of the stock in a transaction that occurred on Wednesday, May 14th. The stock was purchased at an average price 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 $1,935,386.40. This represents a 34.07% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders acquired a total of 109,408 shares of company stock valued at $31,607,768 in the last 90 days. 0.28% of the stock is owned by corporate insiders.

Analyst Ratings Changes

UNH has been the topic of several recent research reports. TD Securities reaffirmed a "hold" rating and issued a $308.00 price objective (down previously from $520.00) on shares of UnitedHealth Group in a research note on Monday, May 19th. Raymond James Financial cut UnitedHealth Group from a "strong-buy" rating to a "market perform" rating in a report on Wednesday, May 14th. Bank of America downgraded UnitedHealth Group from a "buy" rating to a "neutral" rating and reduced their target price for the company from $560.00 to $350.00 in a report on Wednesday, May 14th. HSBC reaffirmed a "reduce" rating and set a $270.00 price objective (down from $490.00) on shares of UnitedHealth Group in a research note on Wednesday, May 21st. Finally, Argus downgraded shares of UnitedHealth Group from a "buy" rating to a "hold" rating in a research report on Monday, April 21st. One analyst has rated the stock with a sell rating, nine have given a hold rating and sixteen have issued a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $415.00.

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.