Glassy Mountain Advisors Inc. Purchases 889 Shares of UnitedHealth Group Incorporated (NYSE:UNH)

Glassy Mountain Advisors Inc. grew its position in shares of UnitedHealth Group Incorporated (NYSE:UNH - Free Report) by 10.7% during the first quarter, according to its most recent filing with the SEC. The firm owned 9,196 shares of the healthcare conglomerate's stock after acquiring an additional 889 shares during the period. UnitedHealth Group comprises about 1.7% of Glassy Mountain Advisors Inc.'s holdings, making the stock its 25th largest holding. Glassy Mountain Advisors Inc.'s holdings in UnitedHealth Group were worth $4,816,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the company. Financial Management Professionals Inc. raised its stake in shares of UnitedHealth Group by 0.8% in the first quarter. Financial Management Professionals Inc. now owns 2,224 shares of the healthcare conglomerate's stock worth $1,165,000 after buying an additional 17 shares during the period. Richwood Investment Advisors LLC boosted its position in shares of UnitedHealth Group by 0.4% during the fourth quarter. Richwood Investment Advisors LLC now owns 5,247 shares of the healthcare conglomerate's stock valued at $2,654,000 after buying an additional 20 shares during the period. Global Wealth Strategies & Associates grew its holdings in shares of UnitedHealth Group by 28.6% in the first quarter. Global Wealth Strategies & Associates now owns 90 shares of the healthcare conglomerate's stock worth $47,000 after purchasing an additional 20 shares during the last quarter. Kolinsky Wealth Management LLC raised its stake in shares of UnitedHealth Group by 1.0% during the fourth quarter. Kolinsky Wealth Management LLC now owns 2,135 shares of the healthcare conglomerate's stock valued at $1,080,000 after acquiring an additional 21 shares in the last quarter. Finally, Retirement Planning Group LLC raised its position in UnitedHealth Group by 5.1% during the 1st quarter. Retirement Planning Group LLC now owns 430 shares of the healthcare conglomerate's stock valued at $225,000 after purchasing an additional 21 shares in the last quarter. Institutional investors own 87.86% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on UNH. JPMorgan Chase & Co. raised their price target on shares of UnitedHealth Group from $405.00 to $418.00 and gave the company an "overweight" rating in a report on Friday, June 20th. Piper Sandler reduced their price target on UnitedHealth Group from $552.00 to $353.00 and set an "overweight" rating for the company in a report on Tuesday, June 3rd. TD Cowen lowered UnitedHealth Group from a "buy" rating to a "hold" rating and set a $308.00 price target on the stock. in a research note on Monday, May 19th. Raymond James Financial cut UnitedHealth Group from a "strong-buy" rating to a "market perform" rating in a report on Wednesday, May 14th. Finally, Mizuho dropped their price objective on shares of UnitedHealth Group from $515.00 to $350.00 and set an "outperform" rating on the stock in a research report on Friday, May 16th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and sixteen have given a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $415.57.

Insiders Place Their Bets

In other 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 completion of the transaction, the chief executive officer owned 10,398 shares of the company's stock, valued at approximately $3,171,390. This represents a 5.36% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Stephen J. Hemsley bought 86,700 shares of the company's stock in a transaction on Friday, May 16th. The stock was bought at an average cost of $288.57 per share, for a total transaction of $25,019,019.00. Following the completion of the acquisition, the chief executive officer directly owned 679,493 shares of the company's stock, valued at approximately $196,081,295.01. This represents a 14.63% increase in their position. The disclosure for this purchase can be found here. Over the last 90 days, insiders have purchased 109,408 shares of company stock worth $31,607,768. 0.28% of the stock is currently owned by insiders.

UnitedHealth Group Trading Up 0.4%

Shares of NYSE UNH traded up $1.13 during trading on Thursday, reaching $308.69. The company had a trading volume of 6,161,145 shares, compared to its average volume of 7,543,771. The company's fifty day moving average price is $329.50 and its 200-day moving average price is $450.21. UnitedHealth Group Incorporated has a 12 month low of $248.88 and a 12 month high of $630.73. The stock has a market cap of $280.03 billion, a P/E ratio of 11.00, a PEG ratio of 1.46 and a beta of 0.45. 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 (NYSE:UNH - Get Free Report) last posted its quarterly earnings data on Thursday, April 17th. The healthcare conglomerate reported $7.20 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $7.29 by ($0.09). The firm had revenue of $109.58 billion for the quarter, compared to analysts' expectations of $111.56 billion. UnitedHealth Group had a return on equity of 26.29% and a net margin of 5.39%. During the same period in the prior year, the firm earned $6.91 earnings per share. As a group, research analysts expect that UnitedHealth Group Incorporated will post 29.54 earnings per share for the current year.

UnitedHealth Group Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 24th. Investors of record on Monday, June 16th were issued a dividend of $2.21 per share. The ex-dividend date of this dividend was Monday, June 16th. This is a boost from UnitedHealth Group's previous quarterly dividend of $2.10. This represents a $8.84 annualized dividend and a yield of 2.86%. UnitedHealth Group's dividend payout ratio is currently 37.02%.

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.