Drive Wealth Management LLC Acquires 966 Shares of UnitedHealth Group Incorporated (NYSE:UNH)

Key Points

• Drive Wealth Management LLC increased its holdings in UnitedHealth Group by 31.5% to a total of 4,034 shares, valued at approximately $2.11 million.
• A number of analysts have downgraded UnitedHealth Group's stock ratings, with target prices reduced significantly, reflecting a more cautious outlook on its stock performance.
• UnitedHealth Group declared a quarterly dividend of $2.21 per share, up from the previous $2.10, resulting in an annualized yield of 3.17%.

Drive Wealth Management LLC lifted its stake in shares of UnitedHealth Group Incorporated (NYSE:UNH - Free Report) by 31.5% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,034 shares of the healthcare conglomerate's stock after acquiring an additional 966 shares during the quarter. Drive Wealth Management LLC's holdings in UnitedHealth Group were worth $2,113,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of the business. Marshall & Sterling Wealth Advisors Inc. bought a new position in UnitedHealth Group during the fourth quarter valued at about $26,000. Hurley Capital LLC bought a new position in UnitedHealth Group during the fourth quarter valued at about $28,000. Aster Capital Management DIFC Ltd bought a new position in shares of UnitedHealth Group in the fourth quarter worth about $30,000. Kapitalo Investimentos Ltda bought a new position in shares of UnitedHealth Group in the fourth quarter worth about $41,000. Finally, Copia Wealth Management bought a new position in shares of UnitedHealth Group in the fourth quarter worth about $42,000. Institutional investors and hedge funds own 87.86% of the company's stock.

Insider Buying and Selling

In related news, Director Kristen Gil acquired 3,700 shares of the firm's stock in a transaction dated Thursday, May 15th. The stock was bought at an average price of $271.17 per share, for a total transaction of $1,003,329.00. Following the acquisition, the director directly owned 3,818 shares of the company's stock, valued at approximately $1,035,327.06. The trade was a 3,135.59% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO John F. Rex purchased 17,175 shares of UnitedHealth Group stock in a transaction that occurred on Friday, May 16th. The shares were acquired at an average price of $291.12 per share, with a total value of $4,999,986.00. Following the acquisition, the chief financial officer directly owned 203,796 shares of the company's stock, valued at $59,329,091.52. This trade represents a 9.20% increase in their position. The disclosure for this purchase can be found here. Insiders have purchased 109,408 shares of company stock worth $31,607,768 over the last three months. Company insiders own 0.28% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the company. Argus lowered UnitedHealth Group from a "buy" rating to a "hold" rating in a research note on Monday, April 21st. Wells Fargo & Company lowered their price objective on UnitedHealth Group from $351.00 to $306.00 and set an "overweight" rating on the stock in a research note on Friday. JPMorgan Chase & Co. upped their price objective on UnitedHealth Group from $405.00 to $418.00 and gave the company an "overweight" rating in a research note on Friday, June 20th. Oppenheimer lowered their price objective on UnitedHealth Group from $600.00 to $400.00 and set an "outperform" rating on the stock in a research note on Wednesday, May 14th. Finally, Mizuho reduced their target price on UnitedHealth Group from $515.00 to $350.00 and set an "outperform" rating on the stock in a report on Friday, May 16th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and fifteen have issued a buy rating to the company's stock. According to data from MarketBeat.com, UnitedHealth Group currently has a consensus rating of "Moderate Buy" and a consensus target price of $392.29.

UnitedHealth Group Stock Up 0.8%

UNH stock traded up $2.11 during trading hours on Friday, reaching $280.69. 16,445,593 shares of the stock were exchanged, compared to its average volume of 12,350,532. The firm's 50-day moving average is $301.58 and its 200-day moving average is $425.60. UnitedHealth Group Incorporated has a 12 month low of $248.88 and a 12 month high of $630.73. The company has a market cap of $254.62 billion, a price-to-earnings ratio of 11.75, a PEG ratio of 1.38 and a beta of 0.45. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.85 and a quick ratio of 0.85.

UnitedHealth Group Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, June 24th. Shareholders of record on Monday, June 16th were paid a $2.21 dividend. This is an increase from UnitedHealth Group's previous quarterly dividend of $2.10. The ex-dividend date was Monday, June 16th. This represents a $8.84 annualized dividend and a dividend yield of 3.15%. UnitedHealth Group's dividend payout ratio (DPR) is currently 37.02%.

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.