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Synovus Financial Corp Has $21.65 Million Stock Position in UnitedHealth Group Incorporated $UNH

UnitedHealth Group logo with Medical background

Key Points

  • Synovus Financial Corp has reduced its stake in UnitedHealth Group by 16.2%, owning 41,332 shares worth approximately $21.65 million after selling 7,964 shares in the first quarter.
  • Various institutional investors, including Marshall & Sterling Wealth Advisors and Bayforest Capital, have recently made significant changes to their holdings in UnitedHealth Group, indicating ongoing interest from the investment community.
  • UnitedHealth Group reported Q2 earnings with a $4.08 EPS, missing analysts' expectations, and announced a quarterly dividend of $2.21 per share, which reflects a 2.9% yield.
  • Looking to export and analyze UnitedHealth Group data? Unlock 5 Weeks of MarketBeat All Access for Just $5. Claim Your Limited-Time Discount.

Synovus Financial Corp reduced its stake in UnitedHealth Group Incorporated (NYSE:UNH - Free Report) by 16.2% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 41,332 shares of the healthcare conglomerate's stock after selling 7,964 shares during the quarter. Synovus Financial Corp's holdings in UnitedHealth Group were worth $21,647,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Marshall & Sterling Wealth Advisors Inc. acquired a new position in shares of UnitedHealth Group in the fourth quarter worth approximately $26,000. Bayforest Capital Ltd lifted its stake in UnitedHealth Group by 685.7% in the first quarter. Bayforest Capital Ltd now owns 55 shares of the healthcare conglomerate's stock valued at $29,000 after buying an additional 48 shares during the period. Clal Insurance Enterprises Holdings Ltd lifted its stake in UnitedHealth Group by 416.7% in the first quarter. Clal Insurance Enterprises Holdings Ltd now owns 62 shares of the healthcare conglomerate's stock valued at $32,000 after buying an additional 50 shares during the period. Kapitalo Investimentos Ltda acquired a new position in UnitedHealth Group in the fourth quarter valued at approximately $41,000. Finally, Copia Wealth Management acquired a new position in UnitedHealth Group in the fourth quarter valued at approximately $42,000. 87.86% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, CEO Patrick Hugh Conway sold 589 shares of UnitedHealth Group stock in a transaction dated Tuesday, June 10th. The stock was sold at an average price of $305.00, for a total value of $179,645.00. Following the completion of the sale, the chief executive officer owned 10,398 shares of the company's stock, valued at approximately $3,171,390. This trade represents a 5.36% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Company insiders own 0.28% of the company's stock.

Analyst Ratings Changes

Several brokerages have issued reports on UNH. Truist Financial dropped their price target on UnitedHealth Group from $360.00 to $345.00 and set a "buy" rating on the stock in a research note on Wednesday, July 16th. Raymond James Financial cut UnitedHealth Group from a "strong-buy" rating to a "market perform" rating in a report on Wednesday, May 14th. Robert W. Baird reiterated an "underperform" rating and issued a $198.00 target price (down from $312.00) on shares of UnitedHealth Group in a report on Thursday, July 31st. JPMorgan Chase & Co. cut their target price on UnitedHealth Group from $418.00 to $310.00 and set an "overweight" rating on the stock in a report on Wednesday, August 6th. Finally, Oppenheimer cut their target price on UnitedHealth Group from $400.00 to $325.00 and set an "outperform" rating on the stock in a report on Wednesday, July 30th. Fifteen equities research analysts have rated the stock with a Buy rating, six have issued a Hold rating and three have given a Sell rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $365.38.

View Our Latest Report on UnitedHealth Group

UnitedHealth Group Trading Up 1.2%

NYSE UNH opened at $307.0980 on Friday. The firm has a market capitalization of $278.13 billion, a P/E ratio of 13.31, a PEG ratio of 1.98 and a beta of 0.43. The business has a fifty day simple moving average of $288.39 and a 200 day simple moving average of $388.53. UnitedHealth Group Incorporated has a 12 month low of $234.60 and a 12 month high of $630.73. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.73.

UnitedHealth Group (NYSE:UNH - Get Free Report) last released its quarterly earnings results on Tuesday, July 29th. The healthcare conglomerate reported $4.08 EPS for the quarter, missing analysts' consensus estimates of $4.45 by ($0.37). The company had revenue of $111.62 billion during the quarter, compared to analysts' expectations of $111.75 billion. UnitedHealth Group had a net margin of 5.04% and a return on equity of 23.32%. The company's quarterly revenue was up 12.9% compared to the same quarter last year. During the same period in the previous year, the company posted $6.80 earnings per share. UnitedHealth Group has set its FY 2025 guidance at 16.000- EPS. On average, analysts predict that UnitedHealth Group Incorporated will post 29.54 EPS for the current fiscal year.

UnitedHealth Group Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 23rd. Stockholders of record on Monday, September 15th will be given a dividend of $2.21 per share. The ex-dividend date of this dividend is Monday, September 15th. This represents a $8.84 annualized dividend and a dividend yield of 2.9%. UnitedHealth Group's dividend payout ratio (DPR) is currently 38.30%.

About UnitedHealth Group

(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.

Further Reading

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Institutional Ownership by Quarter for UnitedHealth Group (NYSE:UNH)

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.

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