Lockheed Martin Investment Management Co. Acquires 11,950 Shares of UnitedHealth Group Incorporated (NYSE:UNH)

Key Points

• Lockheed Martin Investment Management Co. increased its stake in UnitedHealth Group by 27.2%, now holding 55,960 shares worth approximately $29.3 million, making it the 23rd largest holding in their portfolio.
• UnitedHealth Group's quarterly earnings reported an EPS of $4.08, missing estimates of $4.45, with revenues of $111.62 billion, slightly below analysts’ expectations.
• The company recently increased its quarterly dividend to $2.21 per share, representing an annualized dividend of $8.84 and a yield of 3.5%.

Lockheed Martin Investment Management Co. increased its position in shares of UnitedHealth Group Incorporated (NYSE:UNH - Free Report) by 27.2% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 55,960 shares of the healthcare conglomerate's stock after acquiring an additional 11,950 shares during the period. UnitedHealth Group makes up about 1.2% of Lockheed Martin Investment Management Co.'s investment portfolio, making the stock its 23rd largest position. Lockheed Martin Investment Management Co.'s holdings in UnitedHealth Group were worth $29,309,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Citizens National Bank Trust Department increased its stake 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 purchasing an additional 170 shares in the last quarter. Fort Washington Investment Advisors Inc. OH grew its stake in UnitedHealth Group by 0.3% during 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 acquiring an additional 1,465 shares in the last quarter. Sherbrooke Park Advisers LLC purchased a new position in UnitedHealth Group during the 4th quarter valued at about $515,000. Full Sail Capital LLC grew its stake in UnitedHealth Group by 2.1% during the 4th quarter. Full Sail Capital LLC now owns 1,612 shares of the healthcare conglomerate's stock valued at $815,000 after acquiring an additional 33 shares in the last quarter. Finally, Soros Fund Management LLC purchased a new position in UnitedHealth Group during the 4th quarter valued at about $39,413,000. 87.86% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the company. TD Cowen lowered UnitedHealth Group from a "buy" rating to a "hold" rating and set a $308.00 price target for the company. in a report on Monday, May 19th. Erste Group Bank lowered UnitedHealth Group from a "strong-buy" rating to a "hold" rating in a report on Wednesday, April 30th. HSBC reiterated a "reduce" rating and set a $270.00 price target (down from $490.00) on shares of UnitedHealth Group in a report on Wednesday, May 21st. Piper Sandler reduced their price target on UnitedHealth Group from $353.00 to $317.00 and set an "overweight" rating for the company in a report on Wednesday, July 30th. Finally, JPMorgan Chase & Co. reduced their target price on UnitedHealth Group from $418.00 to $310.00 and set an "overweight" rating for the company in a report on Wednesday. Three investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and fifteen have given a buy rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $366.52.

Insider Buying and Selling at UnitedHealth Group

In related news, CEO Stephen J. Hemsley acquired 86,700 shares of the stock in a transaction dated Friday, May 16th. The stock was purchased at an average cost of $288.57 per share, with a total value of $25,019,019.00. Following the completion of the purchase, the chief executive officer directly owned 679,493 shares in the company, valued at $196,081,295.01. This trade represents a 14.63% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Kristen Gil acquired 3,700 shares of the stock in a transaction dated Thursday, May 15th. The stock was bought at an average cost of $271.17 per share, with a total value of $1,003,329.00. Following the completion of the purchase, the director owned 3,818 shares of the company's stock, valued at approximately $1,035,327.06. The trade was a 3,135.59% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders acquired 109,408 shares of company stock worth $31,607,768 in the last quarter. Company insiders own 0.28% of the company's stock.

UnitedHealth Group Trading Up 2.5%

Shares of UnitedHealth Group stock traded up $6.07 on Friday, hitting $250.74. 10,146,688 shares of the company's stock traded hands, compared to its average volume of 18,423,422. UnitedHealth Group Incorporated has a one year low of $234.60 and a one year high of $630.73. The company has a debt-to-equity ratio of 0.73, a current ratio of 0.85 and a quick ratio of 0.85. The company has a fifty day moving average of $291.78 and a two-hundred day moving average of $405.18. The company has a market capitalization of $227.46 billion, a price-to-earnings ratio of 10.86, a price-to-earnings-growth ratio of 1.62 and a beta of 0.43.

UnitedHealth Group (NYSE:UNH - Get Free Report) last announced its earnings results on Tuesday, July 29th. The healthcare conglomerate reported $4.08 EPS for the quarter, missing the consensus estimate of $4.45 by ($0.37). UnitedHealth Group had a net margin of 5.04% and a return on equity of 23.32%. The business had revenue of $111.62 billion for the quarter, compared to the consensus estimate of $111.75 billion. During the same quarter in the previous year, the company earned $6.80 EPS. The firm's revenue for the quarter was up 12.9% on a year-over-year basis. As a group, sell-side analysts expect that UnitedHealth Group Incorporated will post 29.54 earnings per share for the current year.

UnitedHealth Group Increases Dividend

The company 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 an increase from UnitedHealth Group's previous quarterly dividend of $2.10. The ex-dividend date of this dividend was Monday, June 16th. This represents a $8.84 dividend on an annualized basis and a yield of 3.5%. UnitedHealth Group's dividend payout ratio (DPR) is currently 38.30%.

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.