UnitedHealth Group Incorporated (NYSE:UNH) Shares Sold by Connable Office Inc.

Key Points

• Connable Office Inc. reduced its holdings in UnitedHealth Group by 15.1%, owning approximately $4.27 million worth of shares, making it their 29th largest position.
• Other institutions, such as GAMMA Investing LLC and UBS AM, significantly increased their stakes in UnitedHealth Group, reflecting strong institutional interest, with 87.86% of shares owned by institutions and hedge funds.
• UnitedHealth Group recently declared a quarterly dividend increase from $2.10 to $2.21, representing a yield of 3.7%, and its latest earnings report showed earnings per share of $4.08, missing the expected $4.45.

Connable Office Inc. cut its holdings in UnitedHealth Group Incorporated (NYSE:UNH - Free Report) by 15.1% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 8,156 shares of the healthcare conglomerate's stock after selling 1,447 shares during the period. UnitedHealth Group makes up 0.5% of Connable Office Inc.'s investment portfolio, making the stock its 29th biggest holding. Connable Office Inc.'s holdings in UnitedHealth Group were worth $4,272,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Citizens National Bank Trust Department raised 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 acquiring an additional 170 shares during the last quarter. Fort Washington Investment Advisors Inc. OH raised its position in shares of UnitedHealth Group by 0.3% during the 1st quarter. Fort Washington Investment Advisors Inc. OH now owns 530,103 shares of the healthcare conglomerate's stock valued at $277,641,000 after acquiring an additional 1,465 shares during the last quarter. Sherbrooke Park Advisers LLC acquired a new stake in shares of UnitedHealth Group during the fourth quarter worth $515,000. Full Sail Capital LLC grew its position in shares of UnitedHealth Group by 2.1% during the 4th quarter. Full Sail Capital LLC now owns 1,612 shares of the healthcare conglomerate's stock worth $815,000 after buying an additional 33 shares during the period. Finally, Soros Fund Management LLC acquired a new stake in shares of UnitedHealth Group in the 4th quarter valued at approximately $39,413,000. 87.86% of the stock is currently owned by institutional investors.

UnitedHealth Group Stock Down 1.3%

Shares of UNH stock traded down $3.09 during mid-day trading on Thursday, reaching $242.69. 6,357,103 shares of the company's stock traded hands, compared to its average volume of 12,080,672. The company's 50-day moving average price is $293.86 and its 200-day moving average price is $410.54. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.73. The company has a market cap of $220.15 billion, a P/E ratio of 10.51, a P/E/G ratio of 1.62 and a beta of 0.43. UnitedHealth Group Incorporated has a 12 month low of $234.60 and a 12 month high of $630.73.

UnitedHealth Group (NYSE:UNH - Get Free Report) last posted its earnings results on Tuesday, July 29th. The healthcare conglomerate reported $4.08 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.45 by ($0.37). The company had revenue of $111.62 billion for the quarter, compared to the consensus estimate of $111.75 billion. UnitedHealth Group had a net margin of 5.04% and a return on equity of 23.32%. UnitedHealth Group's revenue was up 12.9% on a year-over-year basis. During the same quarter in the prior year, the company posted $6.80 EPS. On average, equities analysts expect that UnitedHealth Group Incorporated will post 29.54 earnings per share for the current fiscal year.

UnitedHealth Group Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 24th. Shareholders of record on Monday, June 16th were issued a dividend of $2.21 per share. This is an increase from UnitedHealth Group's previous quarterly dividend of $2.10. 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 3.6%. UnitedHealth Group's payout ratio is 38.30%.

Analyst Ratings Changes

Several analysts have commented on UNH shares. HSBC restated a "reduce" rating and set a $270.00 target price (down from $490.00) on shares of UnitedHealth Group in a report on Wednesday, May 21st. Piper Sandler dropped their price target on UnitedHealth Group from $353.00 to $317.00 and set an "overweight" rating on the stock in a research note on Wednesday, July 30th. Bank of America decreased their target price on UnitedHealth Group from $350.00 to $300.00 and set a "neutral" rating on the stock in a research report on Tuesday, July 29th. Erste Group Bank downgraded UnitedHealth Group from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, April 30th. Finally, Truist Financial reduced their price target on shares of UnitedHealth Group from $360.00 to $345.00 and set a "buy" rating on the stock in a research report on Wednesday, July 16th. Three research analysts have rated the stock with a sell rating, seven have assigned a hold rating and fifteen have given a buy rating to the company's stock. Based on data from MarketBeat, UnitedHealth Group currently has a consensus rating of "Hold" and a consensus target price of $366.52.

Insider Buying and Selling at UnitedHealth Group

In other UnitedHealth Group news, CEO Patrick Hugh Conway sold 589 shares of UnitedHealth Group stock in a transaction on Tuesday, June 10th. The shares were sold at an average price of $305.00, for a total transaction of $179,645.00. Following the completion of the transaction, the chief executive officer directly owned 10,398 shares of the company's stock, valued at $3,171,390. The trade was a 5.36% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Stephen J. Hemsley bought 86,700 shares of UnitedHealth Group stock in a transaction on Friday, May 16th. The stock was acquired at an average price of $288.57 per share, for a total transaction of $25,019,019.00. Following the purchase, the chief executive officer owned 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 disclosure for this purchase 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.

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.