Palumbo Wealth Management LLC Boosts Holdings in UnitedHealth Group Incorporated (NYSE:UNH)

Palumbo Wealth Management LLC lifted its stake in UnitedHealth Group Incorporated (NYSE:UNH - Free Report) by 28.8% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 7,089 shares of the healthcare conglomerate's stock after acquiring an additional 1,584 shares during the quarter. UnitedHealth Group accounts for 1.2% of Palumbo Wealth Management LLC's investment portfolio, making the stock its 20th largest position. Palumbo Wealth Management LLC's holdings in UnitedHealth Group were worth $3,713,000 as of its most recent filing with the SEC.

Several other large investors have also recently made changes to their positions in the stock. Financial Management Professionals Inc. lifted its holdings in shares of UnitedHealth Group by 0.8% in the 1st quarter. Financial Management Professionals Inc. now owns 2,224 shares of the healthcare conglomerate's stock worth $1,165,000 after acquiring an additional 17 shares during the last quarter. Richwood Investment Advisors LLC lifted its holdings in shares of UnitedHealth Group by 0.4% in the 4th quarter. Richwood Investment Advisors LLC now owns 5,247 shares of the healthcare conglomerate's stock worth $2,654,000 after acquiring an additional 20 shares during the last quarter. Global Wealth Strategies & Associates lifted its holdings in UnitedHealth Group by 28.6% during the 1st quarter. Global Wealth Strategies & Associates now owns 90 shares of the healthcare conglomerate's stock worth $47,000 after buying an additional 20 shares in the last quarter. Kolinsky Wealth Management LLC lifted its holdings in UnitedHealth Group by 1.0% during the 4th quarter. Kolinsky Wealth Management LLC now owns 2,135 shares of the healthcare conglomerate's stock worth $1,080,000 after buying an additional 21 shares in the last quarter. Finally, Retirement Planning Group LLC lifted its holdings in UnitedHealth Group by 5.1% during the 1st quarter. Retirement Planning Group LLC now owns 430 shares of the healthcare conglomerate's stock worth $225,000 after buying an additional 21 shares in the last quarter. 87.86% of the stock is currently owned by institutional investors and hedge funds.

UnitedHealth Group Stock Down 1.7%

Shares of NYSE:UNH opened at $302.04 on Monday. The company has a market cap of $273.99 billion, a price-to-earnings ratio of 12.65, a PEG ratio of 1.42 and a beta of 0.45. The firm's 50-day simple moving average is $359.15 and its 200-day simple moving average is $461.96. 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.

UnitedHealth Group (NYSE:UNH - Get Free Report) last issued its earnings results on Thursday, April 17th. The healthcare conglomerate reported $7.20 earnings per share for the quarter, missing the consensus estimate of $7.29 by ($0.09). The firm had revenue of $109.58 billion during the quarter, compared to analysts' expectations of $111.56 billion. UnitedHealth Group had a net margin of 5.39% and a return on equity of 26.29%. During the same period in the previous year, the firm earned $6.91 EPS. As a group, equities research analysts predict that UnitedHealth Group Incorporated will post 29.54 earnings per share for the current year.

UnitedHealth Group Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 24th. Investors of record on Monday, June 16th will be issued a dividend of $2.21 per share. The ex-dividend date of this dividend is Monday, June 16th. This represents a $8.84 dividend on an annualized basis and a yield of 2.93%. This is an increase from UnitedHealth Group's previous quarterly dividend of $2.10. UnitedHealth Group's payout ratio is currently 37.02%.

Wall Street Analysts Forecast Growth

UNH has been the topic of a number of research reports. Argus lowered shares of UnitedHealth Group from a "buy" rating to a "hold" rating in a report on Monday, April 21st. Truist Financial restated a "buy" rating and issued a $360.00 price objective (down from $580.00) on shares of UnitedHealth Group in a report on Monday, May 19th. Morgan Stanley reduced their price objective on shares of UnitedHealth Group from $563.00 to $374.00 and set an "overweight" rating on the stock in a report on Wednesday, May 14th. TD Cowen lowered shares of UnitedHealth Group from a "buy" rating to a "hold" rating and set a $308.00 price objective on the stock. in a report on Monday, May 19th. Finally, Piper Sandler reduced their price objective on shares of UnitedHealth Group from $552.00 to $353.00 and set an "overweight" rating on the stock in a report on Tuesday, June 3rd. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and sixteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $427.09.

Insider Buying and Selling

In other UnitedHealth Group news, Director Timothy Patrick Flynn purchased 1,533 shares of UnitedHealth Group stock in a transaction on Wednesday, May 14th. The shares were bought at an average price of $320.80 per share, with a total value of $491,786.40. Following the completion of the acquisition, the director now directly owns 6,033 shares of the company's stock, valued at approximately $1,935,386.40. This trade represents a 34.07% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Stephen J. Hemsley purchased 86,700 shares of UnitedHealth Group stock in a transaction on Friday, May 16th. The stock was 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 now directly owns 679,493 shares of the company's stock, valued at approximately $196,081,295.01. This represents a 14.63% increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last 90 days, insiders have purchased 109,408 shares of company stock valued at $31,607,768. Corporate insiders own 0.28% of the company's stock.

About UnitedHealth Group

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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