Concord Asset Management LLC VA Reduces Holdings in UnitedHealth Group Incorporated (NYSE:UNH)

Concord Asset Management LLC VA cut its position in shares of UnitedHealth Group Incorporated (NYSE:UNH - Free Report) by 32.0% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 5,135 shares of the healthcare conglomerate's stock after selling 2,412 shares during the quarter. Concord Asset Management LLC VA's holdings in UnitedHealth Group were worth $2,689,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Brighton Jones LLC increased its holdings in UnitedHealth Group by 176.2% during the 4th quarter. Brighton Jones LLC now owns 44,249 shares of the healthcare conglomerate's stock worth $22,384,000 after acquiring an additional 28,231 shares during the period. Revolve Wealth Partners LLC grew its stake in UnitedHealth Group by 137.1% in the 4th quarter. Revolve Wealth Partners LLC now owns 4,019 shares of the healthcare conglomerate's stock worth $2,033,000 after buying an additional 2,324 shares in the last quarter. Bank Pictet & Cie Europe AG grew its stake in UnitedHealth Group by 3.9% in the 4th quarter. Bank Pictet & Cie Europe AG now owns 263,655 shares of the healthcare conglomerate's stock worth $133,373,000 after buying an additional 9,872 shares in the last quarter. Proficio Capital Partners LLC grew its stake in UnitedHealth Group by 52.1% in the 4th quarter. Proficio Capital Partners LLC now owns 3,734 shares of the healthcare conglomerate's stock worth $1,889,000 after buying an additional 1,279 shares in the last quarter. Finally, Harbour Investments Inc. grew its stake in UnitedHealth Group by 3.1% in the 4th quarter. Harbour Investments Inc. now owns 6,802 shares of the healthcare conglomerate's stock worth $3,441,000 after buying an additional 203 shares in the last quarter. 87.86% of the stock is currently owned by hedge funds and other institutional investors.

UnitedHealth Group Stock Down 2.9%

Shares of UnitedHealth Group stock traded down $8.77 during trading on Tuesday, hitting $291.81. The company's stock had a trading volume of 15,918,599 shares, compared to its average volume of 7,759,350. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.85 and a current ratio of 0.85. The company has a fifty day simple moving average of $312.43 and a two-hundred day simple moving average of $438.47. The company has a market capitalization of $264.71 billion, a PE ratio of 12.22, a P/E/G ratio of 1.44 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.

UnitedHealth Group (NYSE:UNH - Get Free Report) last released its quarterly earnings data 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). The firm had revenue of $109.58 billion for the quarter, compared to the consensus estimate of $111.56 billion. UnitedHealth Group had a net margin of 5.39% and a return on equity of 26.29%. During the same quarter in the prior year, the business posted $6.91 earnings per share. Equities research analysts predict that UnitedHealth Group Incorporated will post 29.54 earnings per share for the current year.

UnitedHealth Group Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 24th. Shareholders of record on Monday, June 16th were paid a dividend of $2.21 per share. This is a positive change from UnitedHealth Group's previous quarterly dividend of $2.10. This represents a $8.84 dividend on an annualized basis and a yield of 3.03%. The ex-dividend date was Monday, June 16th. UnitedHealth Group's dividend payout ratio (DPR) is currently 37.02%.

Analyst Upgrades and Downgrades

UNH has been the subject of a number of research reports. UBS Group cut their price target on shares of UnitedHealth Group from $400.00 to $385.00 and set a "buy" rating for the company in a research note on Wednesday, June 25th. Truist Financial reaffirmed a "buy" rating and issued a $360.00 price objective (down previously from $580.00) 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 previously from $490.00) on shares of UnitedHealth Group in a research note on Wednesday, May 21st. Baird R W cut shares of UnitedHealth Group from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, June 11th. Finally, 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. One analyst has rated the stock with a sell rating, nine have issued a hold rating and sixteen have given a buy rating to the stock. Based on data from MarketBeat, UnitedHealth Group has an average rating of "Moderate Buy" and a consensus price target of $415.00.

Insider Buying and Selling at UnitedHealth Group

In related news, CEO Stephen J. Hemsley purchased 86,700 shares of the company's stock in a transaction dated Friday, May 16th. The shares were purchased at an average price 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. The trade was a 14.63% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Kristen Gil purchased 3,700 shares of the company's stock in a transaction dated Thursday, May 15th. The shares were bought at an average cost of $271.17 per share, for a total transaction of $1,003,329.00. Following 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 disclosure for this purchase can be found here. Insiders purchased 109,408 shares of company stock worth $31,607,768 in the last 90 days. 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.