Correct Capital Wealth Management Buys 1,022 Shares of UnitedHealth Group Incorporated (NYSE:UNH)

Correct Capital Wealth Management increased its stake in shares of UnitedHealth Group Incorporated (NYSE:UNH - Free Report) by 25.9% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,970 shares of the healthcare conglomerate's stock after acquiring an additional 1,022 shares during the quarter. UnitedHealth Group makes up 0.4% of Correct Capital Wealth Management's investment portfolio, making the stock its 22nd largest position. Correct Capital Wealth Management's holdings in UnitedHealth Group were worth $2,603,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also bought and sold shares of UNH. Citizens National Bank Trust Department lifted its holdings in UnitedHealth Group by 1.0% in the 1st quarter. Citizens National Bank Trust Department now owns 17,886 shares of the healthcare conglomerate's stock worth $9,368,000 after buying an additional 170 shares during the period. Fort Washington Investment Advisors Inc. OH lifted its stake in shares of 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 period. Sherbrooke Park Advisers LLC purchased a new position in shares of UnitedHealth Group in the 4th quarter valued at approximately $515,000. Full Sail Capital LLC lifted its stake in shares of 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 period. Finally, Soros Fund Management LLC purchased a new position in shares of UnitedHealth Group in the 4th quarter valued at approximately $39,413,000. 87.86% of the stock is currently owned by institutional investors.

UnitedHealth Group Price Performance

Shares of UnitedHealth Group stock traded up $4.30 during trading hours on Friday, hitting $303.81. The company's stock had a trading volume of 9,789,082 shares, compared to its average volume of 7,687,343. The business has a 50 day moving average price of $314.52 and a two-hundred day moving average price of $440.88. UnitedHealth Group Incorporated has a 12-month low of $248.88 and a 12-month high of $630.73. The company has a market cap of $275.60 billion, a PE ratio of 12.72, a PEG ratio of 1.43 and a beta of 0.45. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.85 and a current ratio of 0.85.

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

UnitedHealth Group Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 24th. Investors of record on Monday, June 16th were given a $2.21 dividend. This is an increase 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 2.91%. The ex-dividend date of this dividend was Monday, June 16th. UnitedHealth Group's payout ratio is currently 37.02%.

Insider Buying and Selling

In other news, Director Kristen Gil bought 3,700 shares of the firm'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 completion of the transaction, the director owned 3,818 shares of the company's stock, valued at approximately $1,035,327.06. This represents a 3,135.59% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Stephen J. Hemsley bought 86,700 shares of the firm's stock in a transaction that occurred on Friday, May 16th. The stock was purchased at an average price of $288.57 per share, for a total transaction of $25,019,019.00. Following the completion of the transaction, the chief executive officer directly 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 109,408 shares of company stock valued at $31,607,768 in the last ninety days. Company insiders own 0.28% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on UNH shares. Hsbc Global Res lowered UnitedHealth Group from a "hold" rating to a "moderate sell" rating in a research report on Wednesday, May 21st. UBS Group reduced their target price on UnitedHealth Group from $400.00 to $385.00 and set a "buy" rating for the company in a report on Wednesday, June 25th. Mizuho cut their price objective on UnitedHealth Group from $515.00 to $350.00 and set an "outperform" rating for the company in a report on Friday, May 16th. HSBC reaffirmed a "reduce" rating and issued a $270.00 price objective (down previously from $490.00) on shares of UnitedHealth Group in a report on Wednesday, May 21st. Finally, Morgan Stanley cut their price objective on UnitedHealth Group from $563.00 to $374.00 and set an "overweight" rating for the company in a report on Wednesday, May 14th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and sixteen have issued a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $415.00.

UnitedHealth Group Company 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.