SlateStone Wealth LLC Sells 2,836 Shares of UnitedHealth Group Incorporated (NYSE:UNH)

Key Points

• SlateStone Wealth LLC reduced its stake in UnitedHealth Group by 26.8%, selling 2,836 shares, and now holds 7,747 shares valued at approximately $4.06 million.
• UnitedHealth Group's quarterly earnings report showed a significant miss, with an EPS of $4.08 compared to the consensus estimate of $5.16, and revenues slightly below forecasts at $111.62 billion.
• The company recently raised its quarterly dividend to $2.21 per share, reflecting a 3.39% dividend yield and a payout ratio of 37.02%.

SlateStone Wealth LLC lowered its stake in UnitedHealth Group Incorporated (NYSE:UNH - Free Report) by 26.8% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 7,747 shares of the healthcare conglomerate's stock after selling 2,836 shares during the period. SlateStone Wealth LLC's holdings in UnitedHealth Group were worth $4,057,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Citizens National Bank Trust Department lifted its holdings in shares of UnitedHealth Group by 1.0% during the 1st quarter. Citizens National Bank Trust Department now owns 17,886 shares of the healthcare conglomerate's stock worth $9,368,000 after acquiring an additional 170 shares during the period. Fort Washington Investment Advisors Inc. OH lifted its stake in UnitedHealth Group by 0.3% in the 1st quarter. Fort Washington Investment Advisors Inc. OH now owns 530,103 shares of the healthcare conglomerate's stock valued at $277,641,000 after purchasing an additional 1,465 shares during the last quarter. Sherbrooke Park Advisers LLC bought a new position in UnitedHealth Group in the 4th quarter valued at approximately $515,000. Full Sail Capital LLC lifted its stake in UnitedHealth Group by 2.1% in the 4th quarter. Full Sail Capital LLC now owns 1,612 shares of the healthcare conglomerate's stock valued at $815,000 after purchasing an additional 33 shares during the last quarter. Finally, Soros Fund Management LLC bought a new position in UnitedHealth Group in the 4th quarter valued at approximately $39,413,000. Institutional investors and hedge funds own 87.86% of the company's stock.

Analyst Ratings Changes

Several equities analysts recently commented on the stock. Morgan Stanley dropped their price objective 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. Wells Fargo & Company decreased their price target on shares of UnitedHealth Group from $351.00 to $306.00 and set an "overweight" rating for the company in a research report on Friday, July 25th. Royal Bank Of Canada decreased their price target on shares of UnitedHealth Group from $355.00 to $286.00 and set an "outperform" rating for the company in a research report on Wednesday. KeyCorp decreased their price target on shares of UnitedHealth Group from $400.00 to $350.00 and set an "overweight" rating for the company in a research report on Wednesday. Finally, Piper Sandler decreased their price target on shares of UnitedHealth Group from $353.00 to $317.00 and set an "overweight" rating for the company in a research report on Wednesday. One analyst has rated the stock with a sell rating, nine have given a hold rating and fifteen have issued a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $378.95.

Insider Activity at UnitedHealth Group

In other UnitedHealth Group news, Director Kristen Gil purchased 3,700 shares of the company's stock in a transaction that occurred on Thursday, May 15th. The shares were bought at an average cost of $271.17 per share, for a total transaction of $1,003,329.00. Following the purchase, the director owned 3,818 shares of the company's stock, valued at $1,035,327.06. This represents a 3,135.59% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Stephen J. Hemsley acquired 86,700 shares of UnitedHealth Group stock in a transaction that occurred on Friday, May 16th. The shares were purchased at an average cost of $288.57 per share, with a total value of $25,019,019.00. Following the purchase, the chief executive officer owned 679,493 shares of the company's stock, valued at $196,081,295.01. This represents a 14.63% 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 ninety days. Insiders own 0.28% of the company's stock.

UnitedHealth Group Stock Up 2.1%

Shares of UNH traded up $5.36 during trading hours on Wednesday, reaching $266.43. 22,302,965 shares of the stock traded hands, compared to its average volume of 13,886,933. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.73. The stock has a fifty day simple moving average of $298.96 and a 200 day simple moving average of $420.36. UnitedHealth Group Incorporated has a 52 week low of $248.88 and a 52 week high of $630.73. The company has a market cap of $241.69 billion, a price-to-earnings ratio of 11.54, a PEG ratio of 1.37 and a beta of 0.45.

UnitedHealth Group (NYSE:UNH - Get Free Report) last posted its quarterly earnings data on Tuesday, July 29th. The healthcare conglomerate reported $4.08 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $5.16 by ($1.08). UnitedHealth Group had a return on equity of 23.32% and a net margin of 5.04%. The company had revenue of $111.62 billion for the quarter, compared to analysts' expectations of $111.75 billion. During the same quarter last year, the business posted $6.80 EPS. The business's quarterly revenue was up 12.9% on a year-over-year basis. On average, equities analysts forecast that UnitedHealth Group Incorporated will post 29.54 EPS for the current year.

UnitedHealth Group Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 24th. Investors of record on Monday, June 16th were paid a dividend of $2.21 per share. This is a boost from UnitedHealth Group's previous quarterly dividend of $2.10. This represents a $8.84 dividend on an annualized basis and a dividend yield of 3.32%. The ex-dividend date of this dividend was Monday, June 16th. 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.