UnitedHealth Group (NYSE:UNH) Shares Down 3.5% - Here's Why

UnitedHealth Group Incorporated (NYSE:UNH - Get Free Report) shares were down 3.5% during mid-day trading on Wednesday . The stock traded as low as $313.48 and last traded at $314.59. Approximately 5,911,801 shares changed hands during trading, a decline of 21% from the average daily volume of 7,464,529 shares. The stock had previously closed at $326.14.

Analysts Set New Price Targets

Several equities analysts recently issued reports on UNH shares. HSBC restated a "reduce" rating and set a $270.00 price target (down from $490.00) on shares of UnitedHealth Group in a research note on Wednesday, May 21st. Raymond James Financial lowered UnitedHealth Group from a "strong-buy" rating to a "market perform" rating in a research note on Wednesday, May 14th. Piper Sandler lowered their price objective on UnitedHealth Group from $552.00 to $353.00 and set an "overweight" rating on the stock in a research note on Tuesday, June 3rd. JPMorgan Chase & Co. upped their price objective on UnitedHealth Group from $405.00 to $418.00 and gave the company an "overweight" rating in a research note on Friday, June 20th. Finally, Oppenheimer lowered their price objective on UnitedHealth Group from $600.00 to $400.00 and set an "outperform" rating on the stock in a research note on Wednesday, May 14th. One 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 company. Based on data from MarketBeat, UnitedHealth Group currently has a consensus rating of "Moderate Buy" and a consensus target price of $415.57.

UnitedHealth Group Stock Performance

The firm has a fifty day simple moving average of $329.50 and a 200-day simple moving average of $450.21. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.71. The stock has a market cap of $279.12 billion, a price-to-earnings ratio of 12.88, a P/E/G ratio of 1.55 and a beta of 0.45.

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

UnitedHealth Group Increases Dividend

The firm also recently disclosed 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 represents a $8.84 annualized dividend and a yield of 2.87%. The ex-dividend date was Monday, June 16th. This is an increase from UnitedHealth Group's previous quarterly dividend of $2.10. UnitedHealth Group's dividend payout ratio (DPR) is presently 37.02%.

Insider Activity

In other news, Director Kristen Gil bought 3,700 shares of the stock in a transaction on Thursday, May 15th. The stock was purchased at an average price of $271.17 per share, for a total transaction of $1,003,329.00. Following the acquisition, the director owned 3,818 shares in the company, valued at approximately $1,035,327.06. This trade represents a 3,135.59% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CFO John F. Rex bought 17,175 shares of the stock in a transaction on Friday, May 16th. The shares were purchased at an average price of $291.12 per share, with a total value of $4,999,986.00. Following the acquisition, the chief financial officer owned 203,796 shares in the company, valued at approximately $59,329,091.52. This represents a 9.20% increase in their position. The disclosure for this purchase can be found here. In the last 90 days, insiders have purchased 109,408 shares of company stock worth $31,607,768. 0.28% of the stock is currently owned by insiders.

Hedge Funds Weigh In On UnitedHealth Group

Several hedge funds have recently modified their holdings of UNH. NewSquare Capital LLC bought a new position in UnitedHealth Group during the fourth quarter worth about $25,000. Marshall & Sterling Wealth Advisors Inc. bought a new position in UnitedHealth Group during the fourth quarter worth about $26,000. Hurley Capital LLC bought a new position in UnitedHealth Group during the fourth quarter worth about $28,000. Bayforest Capital Ltd lifted its position in UnitedHealth Group by 685.7% during the first quarter. Bayforest Capital Ltd now owns 55 shares of the healthcare conglomerate's stock worth $29,000 after acquiring an additional 48 shares during the last quarter. Finally, Aster Capital Management DIFC Ltd acquired a new stake in UnitedHealth Group during the fourth quarter worth approximately $30,000. Institutional investors own 87.86% of the company's stock.

About UnitedHealth Group

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.