Procyon Advisors LLC Has $10.96 Million Stake in UnitedHealth Group Incorporated (NYSE:UNH)

Procyon Advisors LLC trimmed its position in UnitedHealth Group Incorporated (NYSE:UNH - Free Report) by 11.7% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 20,926 shares of the healthcare conglomerate's stock after selling 2,775 shares during the quarter. Procyon Advisors LLC's holdings in UnitedHealth Group were worth $10,960,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently bought and sold shares of the company. NewSquare Capital LLC acquired a new stake in shares of UnitedHealth Group in the fourth quarter worth $25,000. Marshall & Sterling Wealth Advisors Inc. bought a new position in shares of UnitedHealth Group during the 4th quarter worth about $26,000. Hurley Capital LLC bought a new stake in shares of UnitedHealth Group in the fourth quarter valued at about $28,000. Aster Capital Management DIFC Ltd bought a new position in UnitedHealth Group during the fourth quarter valued at about $30,000. Finally, Promus Capital LLC acquired a new stake in shares of UnitedHealth Group during the 4th quarter worth approximately $32,000. Institutional investors own 87.86% of the company's stock.

Insider Activity at UnitedHealth Group

In related news, CEO Stephen J. Hemsley purchased 86,700 shares of the business's stock in a transaction on Friday, May 16th. The shares were purchased at an average price of $288.57 per share, with a total value of $25,019,019.00. Following the completion of the purchase, the chief executive officer now owns 679,493 shares in the company, valued at $196,081,295.01. This represents a 14.63% increase in their position. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO John F. Rex acquired 17,175 shares of the business's stock in a transaction that occurred on Friday, May 16th. The stock was bought at an average cost of $291.12 per share, for a total transaction of $4,999,986.00. Following the completion of the transaction, the chief financial officer now directly owns 203,796 shares in the company, valued at $59,329,091.52. This represents a 9.20% increase in their position. The disclosure for this purchase can be found here. Insiders bought a total of 109,408 shares of company stock worth $31,607,768 in the last quarter. Corporate insiders own 0.33% of the company's stock.

UnitedHealth Group Stock Down 1.6%

Shares of NYSE:UNH opened at $295.61 on Friday. The company has a 50 day moving average of $413.43 and a 200-day moving average of $486.09. UnitedHealth Group Incorporated has a one year low of $248.88 and a one year high of $630.73. The stock has a market cap of $268.16 billion, a price-to-earnings ratio of 19.07, a P/E/G ratio of 1.37 and a beta of 0.56. The company has a debt-to-equity ratio of 0.74, a current ratio of 0.83 and a quick ratio of 0.91.

UnitedHealth Group (NYSE:UNH - Get Free Report) last posted its quarterly earnings results on Thursday, April 17th. The healthcare conglomerate reported $7.20 earnings per share for the quarter, missing analysts' consensus estimates of $7.29 by ($0.09). UnitedHealth Group had a net margin of 3.60% and a return on equity of 26.69%. The company had revenue of $109.58 billion during the quarter, compared to analyst estimates of $111.56 billion. During the same period last year, the company earned $6.91 EPS. On average, sell-side analysts forecast that UnitedHealth Group Incorporated will post 29.54 earnings per share for the current year.

UnitedHealth Group Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 24th. Shareholders of record on Monday, June 16th will be issued a $2.21 dividend. The ex-dividend date is Monday, June 16th. This is a positive change from UnitedHealth Group's previous quarterly dividend of $2.10. This represents a $8.84 annualized dividend and a yield of 2.99%. UnitedHealth Group's dividend payout ratio (DPR) is 35.18%.

Analyst Ratings Changes

A number of research firms have weighed in on UNH. Piper Sandler decreased their price target on shares of UnitedHealth Group from $552.00 to $353.00 and set an "overweight" rating on the stock in a research note on Tuesday. Robert W. Baird dropped their price target on shares of UnitedHealth Group from $510.00 to $356.00 and set an "outperform" rating for the company in a research report on Wednesday, May 14th. Royal Bank of Canada lowered their price objective on UnitedHealth Group from $525.00 to $355.00 and set an "outperform" rating on the stock in a research note on Friday, May 16th. Hsbc Global Res lowered UnitedHealth Group from a "hold" rating to a "moderate sell" rating in a research note on Wednesday, May 21st. Finally, Wall Street Zen downgraded shares of UnitedHealth Group from a "buy" rating to a "hold" rating in a research note on Saturday, May 24th. One analyst has rated the stock with a sell rating, seven have given a hold rating and seventeen have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $428.43.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.