HB Wealth Management LLC Buys 12,794 Shares of UnitedHealth Group Incorporated (NYSE:UNH)

Key Points

• HB Wealth Management LLC increased its stake in UnitedHealth Group by 24.6%, acquiring an additional 12,794 shares for a total of 64,780 shares valued at approximately $33.93 million.
• Recent analyst reports have resulted in multiple target price reductions for UnitedHealth Group, with Wolfe Research lowering it from $501 to $390, while Bank of America cut theirs from $560 to $350.
• The company announced a quarterly dividend increase to $2.21 per share, up from $2.10, reflecting an annualized dividend of $8.84 and a yield of 3.15%.

HB Wealth Management LLC grew its stake in shares of UnitedHealth Group Incorporated (NYSE:UNH - Free Report) by 24.6% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 64,780 shares of the healthcare conglomerate's stock after acquiring an additional 12,794 shares during the period. HB Wealth Management LLC's holdings in UnitedHealth Group were worth $33,929,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Marshall & Sterling Wealth Advisors Inc. bought a new position in shares of UnitedHealth Group during the 4th quarter worth approximately $26,000. Hurley Capital LLC bought a new position in shares of UnitedHealth Group during the 4th quarter worth approximately $28,000. Aster Capital Management DIFC Ltd bought a new position in shares of UnitedHealth Group during the 4th quarter worth approximately $30,000. Kapitalo Investimentos Ltda bought a new position in shares of UnitedHealth Group during the 4th quarter worth approximately $41,000. Finally, Copia Wealth Management bought a new position in shares of UnitedHealth Group during the 4th quarter worth approximately $42,000. 87.86% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

UNH has been the subject of a number of recent analyst reports. Wolfe Research lowered their target price on shares of UnitedHealth Group from $501.00 to $390.00 and set an "outperform" rating for the company in a research note on Tuesday, May 20th. Bank of America cut shares of UnitedHealth Group from a "buy" rating to a "neutral" rating and lowered their target price for the stock from $560.00 to $350.00 in a research note on Wednesday, May 14th. Erste Group Bank cut shares of UnitedHealth Group from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, April 30th. Morgan Stanley lowered their target price on shares of UnitedHealth Group from $563.00 to $374.00 and set an "overweight" rating for the company in a research note on Wednesday, May 14th. Finally, Deutsche Bank Aktiengesellschaft cut their price target on shares of UnitedHealth Group from $521.00 to $362.00 and set a "buy" rating on the stock in a report on Wednesday, May 14th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and fifteen have assigned a buy rating to the stock. According to MarketBeat.com, UnitedHealth Group presently has an average rating of "Moderate Buy" and an average target price of $392.29.

Insider Buying and Selling at UnitedHealth Group

In related news, CEO Stephen J. Hemsley bought 86,700 shares of the stock in a transaction dated Friday, May 16th. The shares were acquired at an average cost of $288.57 per share, for a total transaction of $25,019,019.00. Following the acquisition, the chief executive officer directly owned 679,493 shares in the company, valued at approximately $196,081,295.01. This trade represents a 14.63% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Kristen Gil bought 3,700 shares of the stock in a transaction dated Thursday, May 15th. The shares were bought at an average price of $271.17 per share, for a total transaction of $1,003,329.00. Following the completion of the acquisition, the director owned 3,818 shares in the company, valued at approximately $1,035,327.06. The trade was a 3,135.59% increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last ninety days, insiders have acquired 109,408 shares of company stock valued at $31,607,768. 0.28% of the stock is owned by insiders.

UnitedHealth Group Stock Up 0.8%

Shares of NYSE UNH opened at $280.69 on Friday. The company's 50-day simple moving average is $301.58 and its 200-day simple moving average is $425.60. UnitedHealth Group Incorporated has a 52-week low of $248.88 and a 52-week high of $630.73. The firm has a market cap of $254.62 billion, a price-to-earnings ratio of 11.75, a price-to-earnings-growth ratio of 1.38 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 Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 24th. Shareholders 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 represents a $8.84 dividend on an annualized basis and a dividend yield of 3.15%. This is a boost from UnitedHealth Group's previous quarterly dividend of $2.10. UnitedHealth Group's dividend payout ratio is presently 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.

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