Homestead Advisers Corp raised its position in shares of UnitedHealth Group Incorporated (NYSE:UNH - Free Report) by 93.6% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 108,800 shares of the healthcare conglomerate's stock after acquiring an additional 52,600 shares during the quarter. Homestead Advisers Corp's holdings in UnitedHealth Group were worth $56,984,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Geode Capital Management LLC increased its position in UnitedHealth Group by 1.6% during the 4th quarter. Geode Capital Management LLC now owns 19,956,219 shares of the healthcare conglomerate's stock worth $10,068,869,000 after purchasing an additional 319,515 shares during the period. Capital International Investors increased its position in shares of UnitedHealth Group by 6.2% during the fourth quarter. Capital International Investors now owns 15,616,007 shares of the healthcare conglomerate's stock worth $7,899,905,000 after acquiring an additional 906,365 shares during the last quarter. Norges Bank acquired a new position in UnitedHealth Group in the fourth quarter worth about $6,375,744,000. Northern Trust Corp boosted its stake in UnitedHealth Group by 12.5% in the fourth quarter. Northern Trust Corp now owns 9,503,671 shares of the healthcare conglomerate's stock valued at $4,807,527,000 after acquiring an additional 1,058,488 shares during the period. Finally, Franklin Resources Inc. boosted its position in shares of UnitedHealth Group by 10.7% during the fourth quarter. Franklin Resources Inc. now owns 8,923,770 shares of the healthcare conglomerate's stock worth $4,514,178,000 after buying an additional 861,854 shares during the period. Institutional investors and hedge funds own 87.86% of the company's stock.
UnitedHealth Group Stock Performance
UNH traded up $3.06 during midday trading on Tuesday, reaching $285.20. The company's stock had a trading volume of 14,233,925 shares, compared to its average volume of 7,873,392. UnitedHealth Group Incorporated has a twelve month low of $248.88 and a twelve month high of $630.73. The stock has a market cap of $258.72 billion, a P/E ratio of 11.94, a PEG ratio of 1.38 and a beta of 0.45. The company has a fifty day simple moving average of $304.47 and a 200 day simple moving average of $432.39. The company has a current ratio of 0.85, a quick 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. Stockholders of record on Monday, June 16th were given a dividend of $2.21 per share. The ex-dividend date was Monday, June 16th. This represents a $8.84 dividend on an annualized basis and a dividend yield of 3.10%. This is an increase from UnitedHealth Group's previous quarterly dividend of $2.10. UnitedHealth Group's payout ratio is presently 37.02%.
Insider Buying and Selling
In related news, CEO Patrick Hugh Conway sold 589 shares of the company's stock in a transaction dated Tuesday, June 10th. The stock was sold at an average price of $305.00, for a total transaction of $179,645.00. Following the sale, 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 legal filing with the SEC, which is accessible through this hyperlink. Also, CFO John F. Rex bought 17,175 shares of the stock in a transaction dated Friday, May 16th. The shares were purchased at an average price of $291.12 per share, for a total transaction of $4,999,986.00. Following the purchase, the chief financial officer 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. Over the last ninety days, insiders purchased 109,408 shares of company stock valued at $31,607,768. 0.28% of the stock is owned by company insiders.
Analyst Upgrades and Downgrades
Several equities analysts recently issued reports on UNH shares. Wolfe Research lowered their price target on UnitedHealth Group from $501.00 to $390.00 and set an "outperform" rating on the stock in a research note on Tuesday, May 20th. Truist Financial reduced their price target on shares of UnitedHealth Group from $360.00 to $345.00 and set a "buy" rating on the stock in a research report on Wednesday, July 16th. UBS Group reaffirmed a "buy" rating on shares of UnitedHealth Group in a research report on Thursday, July 17th. TD Securities reiterated a "hold" rating and issued a $308.00 price target (down from $520.00) on shares of UnitedHealth Group in a research note on Monday, May 19th. Finally, KeyCorp lowered their price objective on shares of UnitedHealth Group from $450.00 to $400.00 and set an "overweight" rating on the stock in a research note on Monday, June 2nd. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and fifteen have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $394.43.
Read Our Latest Research Report on UnitedHealth Group
UnitedHealth Group Profile
(
Free Report)
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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