First Manhattan CO. LLC. Trims Stock Position in UnitedHealth Group Incorporated $UNH

Key Points

• First Manhattan Co. LLC has reduced its stake in UnitedHealth Group by 24.8%, now owning approximately 1,145,481 shares valued at $599,946,000.
• UnitedHealth Group's CEO, Patrick Hugh Conway, sold 589 shares of the stock for about $179,645, reducing his ownership by 5.36%.
• Several analysts have downgraded their price targets for UnitedHealth Group, with Mizuho setting a new target at $350 while Robert W. Baird lowered theirs to $198.

First Manhattan CO. LLC. decreased its holdings in shares of UnitedHealth Group Incorporated (NYSE:UNH - Free Report) by 24.8% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,145,481 shares of the healthcare conglomerate's stock after selling 377,517 shares during the period. UnitedHealth Group comprises about 1.8% of First Manhattan CO. LLC.'s portfolio, making the stock its 9th largest holding. First Manhattan CO. LLC. owned approximately 0.13% of UnitedHealth Group worth $599,946,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Capital Investment Counsel LLC boosted its holdings in shares of UnitedHealth Group by 1.9% during the first quarter. Capital Investment Counsel LLC now owns 14,755 shares of the healthcare conglomerate's stock valued at $7,728,000 after acquiring an additional 277 shares during the period. Maverick Capital Ltd. bought a new position in UnitedHealth Group in the 1st quarter worth about $76,948,000. Focus Partners Advisor Solutions LLC raised its holdings in shares of UnitedHealth Group by 23.2% during the first quarter. Focus Partners Advisor Solutions LLC now owns 13,347 shares of the healthcare conglomerate's stock valued at $6,990,000 after buying an additional 2,515 shares during the last quarter. First Financial Bankshares Inc increased its position in UnitedHealth Group by 2.4% in the 1st quarter. First Financial Bankshares Inc now owns 39,111 shares of the healthcare conglomerate's stock valued at $20,484,000 after acquiring an additional 918 shares during the period. Finally, Ameriflex Group Inc. boosted its position in UnitedHealth Group by 143.9% during the 1st quarter. Ameriflex Group Inc. now owns 1,846 shares of the healthcare conglomerate's stock worth $967,000 after acquiring an additional 1,089 shares during the period. Institutional investors own 87.86% of the company's stock.

Insider Transactions at UnitedHealth Group

In related news, CEO Patrick Hugh Conway sold 589 shares of the stock in a transaction that occurred on Tuesday, June 10th. The stock was sold at an average price of $305.00, for a total value of $179,645.00. Following the transaction, the chief executive officer owned 10,398 shares in the company, valued at approximately $3,171,390. This represents a 5.36% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 0.28% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the stock. Mizuho reduced their price objective on shares of UnitedHealth Group from $515.00 to $350.00 and set an "outperform" rating for the company in a report on Friday, May 16th. Robert W. Baird reiterated an "underperform" rating and set a $198.00 price objective (down previously from $312.00) on shares of UnitedHealth Group in a research note on Thursday, July 31st. Morgan Stanley decreased their price target on UnitedHealth Group from $342.00 to $325.00 and set an "overweight" rating for the company in a research note on Wednesday, August 20th. JPMorgan Chase & Co. decreased their price target on shares of UnitedHealth Group from $418.00 to $310.00 and set an "overweight" rating on the stock in a research report on Wednesday, August 6th. Finally, TD Cowen downgraded UnitedHealth Group from a "buy" rating to a "hold" rating and set a $308.00 target price for the company. in a report on Monday, May 19th. Fifteen analysts have rated the stock with a Buy rating, six have given a Hold rating and three have assigned a Sell rating to the company's stock. According to MarketBeat, UnitedHealth Group has an average rating of "Moderate Buy" and an average price target of $353.00.

UnitedHealth Group Stock Up 2.5%

NYSE:UNH opened at $309.77 on Monday. UnitedHealth Group Incorporated has a 1-year low of $234.60 and a 1-year high of $630.73. The firm has a market capitalization of $280.55 billion, a price-to-earnings ratio of 13.42, a PEG ratio of 2.00 and a beta of 0.44. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.73. The business's fifty day moving average price is $288.16 and its 200 day moving average price is $379.63.

UnitedHealth Group (NYSE:UNH - Get Free Report) last issued its earnings results on Tuesday, July 29th. The healthcare conglomerate reported $4.08 earnings per share for the quarter, missing analysts' consensus estimates of $4.45 by ($0.37). UnitedHealth Group had a net margin of 5.04% and a return on equity of 23.32%. The business had revenue of $111.62 billion during the quarter, compared to analyst estimates of $111.75 billion. During the same quarter in the prior year, the company earned $6.80 EPS. UnitedHealth Group'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. On average, sell-side analysts forecast that UnitedHealth Group Incorporated will post 29.54 earnings per share for the current fiscal year.

UnitedHealth Group Dividend Announcement

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

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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