Echo Wealth Management LLC Invests $1.11 Million in UnitedHealth Group Incorporated (NYSE:UNH)

Echo Wealth Management LLC purchased a new stake in shares of UnitedHealth Group Incorporated (NYSE:UNH - Free Report) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 2,112 shares of the healthcare conglomerate's stock, valued at approximately $1,106,000. UnitedHealth Group accounts for approximately 0.7% of Echo Wealth Management LLC's portfolio, making the stock its 24th largest holding.

A number of other hedge funds also recently bought and sold shares of UNH. Fort Washington Investment Advisors Inc. OH raised its position 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 buying 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 approximately $515,000. Full Sail Capital LLC increased 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 worth $815,000 after buying an additional 33 shares in the last quarter. Soros Fund Management LLC bought a new stake in shares of UnitedHealth Group during the fourth quarter valued at approximately $39,413,000. Finally, Silvercrest Asset Management Group LLC grew its stake 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 during the last quarter. 87.86% of the stock is currently owned by institutional investors.

Insider Activity

In other news, CEO Patrick Hugh Conway sold 589 shares of UnitedHealth Group stock in a transaction dated Tuesday, June 10th. The shares were sold at an average price of $305.00, for a total value of $179,645.00. Following the completion of the transaction, the chief executive officer now owns 10,398 shares of the company's stock, valued at $3,171,390. This trade represents a 5.36% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Stephen J. Hemsley purchased 86,700 shares of the firm's stock in a transaction that occurred on Friday, May 16th. The stock was bought 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 now owns 679,493 shares in the company, valued at $196,081,295.01. The trade was a 14.63% increase in their position. The disclosure for this purchase can be found here. Insiders bought a total of 109,408 shares of company stock valued at $31,607,768 in the last quarter. Company insiders own 0.28% of the company's stock.

UnitedHealth Group Stock Down 1.7%

Shares of NYSE:UNH traded down $5.16 during midday trading on Friday, reaching $302.04. 16,024,789 shares of the company were exchanged, compared to its average volume of 7,346,801. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.71. UnitedHealth Group Incorporated has a fifty-two week low of $248.88 and a fifty-two week high of $630.73. The stock has a fifty day simple moving average of $359.15 and a two-hundred day simple moving average of $462.77. The firm has a market cap of $273.99 billion, a PE ratio of 12.65, a P/E/G ratio of 1.42 and a beta of 0.44.

UnitedHealth Group (NYSE:UNH - Get Free Report) last issued its quarterly earnings results on Thursday, April 17th. The healthcare conglomerate reported $7.20 earnings per share (EPS) for the quarter, missing the consensus estimate of $7.29 by ($0.09). UnitedHealth Group had a net margin of 5.39% and a return on equity of 26.29%. The business had revenue of $109.58 billion during the quarter, compared to analyst estimates of $111.56 billion. During the same quarter in the previous year, the firm posted $6.91 earnings per share. As a group, sell-side analysts forecast 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 will be paid on Tuesday, June 24th. Stockholders of record on Monday, June 16th will be given a $2.21 dividend. This represents a $8.84 dividend on an annualized basis and a dividend yield of 2.93%. The ex-dividend date is Monday, June 16th. This is an increase from UnitedHealth Group's previous quarterly dividend of $2.10. UnitedHealth Group's dividend payout ratio (DPR) is 37.02%.

Analyst Upgrades and Downgrades

Several research firms have recently commented on UNH. HSBC reissued a "reduce" rating and set a $270.00 price target (down from $490.00) on shares of UnitedHealth Group in a research note on Wednesday, May 21st. Wall Street Zen cut shares of UnitedHealth Group from a "buy" rating to a "hold" rating in a research note on Saturday, May 24th. Royal Bank Of Canada reduced their price objective on shares of UnitedHealth Group from $525.00 to $355.00 and set an "outperform" rating on the stock in a research note on Friday, May 16th. Argus cut shares of UnitedHealth Group from a "buy" rating to a "hold" rating in a research note on Monday, April 21st. Finally, Hsbc Global Res cut shares of UnitedHealth Group from a "hold" rating to a "moderate sell" rating in a research note on Wednesday, May 21st. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and sixteen have issued a buy rating to the company's stock. Based on data from MarketBeat.com, UnitedHealth Group currently has a consensus rating of "Moderate Buy" and a consensus price target of $427.09.

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.