Corebridge Financial Inc. Sells 6,253 Shares of UnitedHealth Group Incorporated $UNH

Key Points

• Corebridge Financial Inc. reduced its stake in UnitedHealth Group by 3.0%, selling 6,253 shares during the first quarter, leaving it with 205,257 shares valued at approximately $107.5 million.
• UnitedHealth Group CEO Patrick Hugh Conway sold 589 shares of company stock for a total of $179,645, reflecting a 5.36% decrease in his ownership position.
• The healthcare company declared a quarterly dividend of $2.21 per share, with an annualized dividend yield of 2.9%, payable on September 23rd.

Corebridge Financial Inc. reduced its holdings in UnitedHealth Group Incorporated (NYSE:UNH - Free Report) by 3.0% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 205,257 shares of the healthcare conglomerate's stock after selling 6,253 shares during the quarter. UnitedHealth Group comprises 0.6% of Corebridge Financial Inc.'s holdings, making the stock its 19th largest holding. Corebridge Financial Inc.'s holdings in UnitedHealth Group were worth $107,503,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Citizens National Bank Trust Department increased its holdings in shares of UnitedHealth Group by 1.0% during the first quarter. Citizens National Bank Trust Department now owns 17,886 shares of the healthcare conglomerate's stock valued at $9,368,000 after acquiring an additional 170 shares in the last quarter. Fort Washington Investment Advisors Inc. OH increased its holdings in shares of UnitedHealth Group by 0.3% during the first 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 in the last quarter. Caitlin John LLC increased its holdings in shares of UnitedHealth Group by 14.8% during the first quarter. Caitlin John LLC now owns 862 shares of the healthcare conglomerate's stock valued at $451,000 after acquiring an additional 111 shares in the last quarter. Sherbrooke Park Advisers LLC bought a new stake in shares of UnitedHealth Group during the fourth quarter valued at approximately $515,000. Finally, Full Sail Capital LLC boosted its position 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 buying an additional 33 shares during the last quarter. Institutional investors own 87.86% of the company's stock.

Insider Activity at UnitedHealth Group

In other news, CEO Patrick Hugh Conway sold 589 shares of the company's stock in a transaction on Tuesday, June 10th. The stock was sold at an average price of $305.00, for a total transaction of $179,645.00. Following the transaction, the chief executive officer owned 10,398 shares of the company's stock, valued at $3,171,390. This represents a 5.36% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 0.28% of the stock is owned by corporate insiders.

UnitedHealth Group Stock Up 1.2%

UNH stock opened at $307.0980 on Monday. The stock's fifty day simple moving average is $288.39 and its two-hundred day simple moving average is $387.54. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.73. UnitedHealth Group Incorporated has a 1-year low of $234.60 and a 1-year high of $630.73. The stock has a market cap of $278.13 billion, a P/E ratio of 13.31, a P/E/G ratio of 1.98 and a beta of 0.43.

UnitedHealth Group (NYSE:UNH - Get Free Report) last posted its quarterly earnings data on Tuesday, July 29th. The healthcare conglomerate reported $4.08 earnings per share for the quarter, missing the consensus estimate of $4.45 by ($0.37). UnitedHealth Group had a return on equity of 23.32% and a net margin of 5.04%.The business had revenue of $111.62 billion during the quarter, compared to analysts' expectations of $111.75 billion. During the same period in the prior year, the firm posted $6.80 EPS. The firm's revenue for the quarter was up 12.9% on a year-over-year basis. UnitedHealth Group has set its FY 2025 guidance at 16.000- EPS. Analysts expect that UnitedHealth Group Incorporated will post 29.54 EPS for the current year.

UnitedHealth Group Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 23rd. Stockholders of record on Monday, September 15th will be given a dividend of $2.21 per share. This represents a $8.84 dividend on an annualized basis and a dividend yield of 2.9%. The ex-dividend date of this dividend is Monday, September 15th. UnitedHealth Group's dividend payout ratio is currently 38.30%.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the company. Robert W. Baird reaffirmed an "underperform" rating and set a $198.00 target price (down previously from $312.00) on shares of UnitedHealth Group in a research report on Thursday, July 31st. Baird R W cut UnitedHealth Group from a "hold" rating to a "strong sell" rating in a research report on Thursday, July 31st. Mizuho cut their target price on UnitedHealth Group from $515.00 to $350.00 and set an "outperform" rating on the stock in a research report on Friday, May 16th. Erste Group Bank cut UnitedHealth Group from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, April 30th. Finally, Deutsche Bank Aktiengesellschaft cut their target price on UnitedHealth Group from $521.00 to $362.00 and set a "buy" rating on the stock in a research report on Wednesday, May 14th. Fifteen investment analysts have rated the stock with a Buy rating, six have given a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $365.38.

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.

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