Congress Asset Management Co. Sells 6,457 Shares of UnitedHealth Group Incorporated (NYSE:UNH)

Congress Asset Management Co. trimmed its stake in UnitedHealth Group Incorporated (NYSE:UNH - Free Report) by 63.6% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 3,703 shares of the healthcare conglomerate's stock after selling 6,457 shares during the quarter. Congress Asset Management Co.'s holdings in UnitedHealth Group were worth $1,940,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the stock. Waycross Partners LLC lifted its holdings in shares of UnitedHealth Group by 2.4% during the fourth quarter. Waycross Partners LLC now owns 27,794 shares of the healthcare conglomerate's stock valued at $14,060,000 after purchasing an additional 658 shares in the last quarter. Sherbrooke Park Advisers LLC bought a new position in shares of UnitedHealth Group during the fourth quarter valued at $515,000. Full Sail Capital LLC lifted its holdings in shares of UnitedHealth Group by 2.1% during the fourth 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 in the last quarter. Soros Fund Management LLC bought a new position in shares of UnitedHealth Group during the fourth quarter valued at $39,413,000. Finally, Silvercrest Asset Management Group LLC lifted its holdings in shares of UnitedHealth Group by 47.8% during the fourth quarter. Silvercrest Asset Management Group LLC now owns 38,796 shares of the healthcare conglomerate's stock valued at $19,625,000 after purchasing an additional 12,550 shares in the last quarter. 87.86% of the stock is owned by institutional investors.

Insider Activity

In related news, CEO Stephen J. Hemsley acquired 86,700 shares of the stock in a transaction dated 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 purchase, the chief executive officer now directly owns 679,493 shares of the company's stock, valued at approximately $196,081,295.01. This trade represents a 14.63% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO John F. Rex purchased 17,175 shares of the firm's stock in a transaction that occurred on Friday, May 16th. The shares were acquired at an average cost of $291.12 per share, with a total value of $4,999,986.00. Following the completion of the purchase, the chief financial officer now directly owns 203,796 shares in the company, valued at $59,329,091.52. The trade was a 9.20% increase in their position. The disclosure for this purchase can be found here. Insiders purchased 109,408 shares of company stock valued at $31,607,768 in the last ninety days. Insiders own 0.33% of the company's stock.

UnitedHealth Group Stock Performance

NYSE UNH opened at $303.24 on Monday. The stock has a market capitalization of $275.08 billion, a PE ratio of 19.56, a P/E/G ratio of 1.37 and a beta of 0.44. The business has a 50 day simple moving average of $409.03 and a two-hundred day simple moving average of $482.60. The company has a debt-to-equity ratio of 0.74, a current ratio of 0.83 and a quick ratio of 0.91. UnitedHealth Group Incorporated has a 1-year low of $248.88 and a 1-year high of $630.73.

UnitedHealth Group (NYSE:UNH - Get Free Report) last released 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 firm had revenue of $109.58 billion for the quarter, compared to analysts' expectations of $111.56 billion. UnitedHealth Group had a net margin of 3.60% and a return on equity of 26.69%. During the same quarter in the prior year, the business earned $6.91 EPS. On average, research analysts predict that UnitedHealth Group Incorporated will post 29.54 EPS for the current fiscal year.

UnitedHealth Group Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 24th. Stockholders of record on Monday, June 16th will be paid a $2.21 dividend. This represents a $8.84 annualized dividend and a dividend yield of 2.92%. This is a positive change from UnitedHealth Group's previous quarterly dividend of $2.10. The ex-dividend date of this dividend is Monday, June 16th. UnitedHealth Group's dividend payout ratio (DPR) is presently 37.02%.

Analysts Set New Price Targets

UNH has been the subject of a number of research reports. Morgan Stanley reduced their price objective on UnitedHealth Group from $563.00 to $374.00 and set an "overweight" rating for the company in a research report on Wednesday, May 14th. Bank of America cut UnitedHealth Group from a "buy" rating to a "neutral" rating and reduced their price objective for the company from $560.00 to $350.00 in a research report on Wednesday, May 14th. Erste Group Bank cut UnitedHealth Group from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, April 30th. TD Cowen cut UnitedHealth Group from a "buy" rating to a "hold" rating and set a $308.00 price objective for the company. in a research report on Monday, May 19th. Finally, Raymond James cut 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, seven have given a hold rating and seventeen have given a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $428.43.

About UnitedHealth Group

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.

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