UnitedHealth Group (NYSE:UNH) Trading Down 2.4% - Here's What Happened

UnitedHealth Group Incorporated (NYSE:UNH - Get Free Report) shares were down 2.4% during trading on Tuesday . The company traded as low as $293.42 and last traded at $293.29. Approximately 4,997,735 shares traded hands during mid-day trading, a decline of 35% from the average daily volume of 7,710,232 shares. The stock had previously closed at $300.58.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the company. Robert W. Baird cut UnitedHealth Group from an "outperform" rating to a "neutral" rating and set a $312.00 target price for the company. in a research report on Wednesday, June 11th. Piper Sandler decreased their target price on UnitedHealth Group from $552.00 to $353.00 and set an "overweight" rating for the company in a research report on Tuesday, June 3rd. Baird R W cut UnitedHealth Group from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, June 11th. TD Cowen cut UnitedHealth Group from a "buy" rating to a "hold" rating and set a $308.00 target price for the company. in a research report on Monday, May 19th. Finally, Wall Street Zen downgraded UnitedHealth Group from a "buy" rating to a "hold" rating in a research note on Saturday, May 24th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and sixteen have given a buy rating to the company. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $415.00.

UnitedHealth Group Stock Down 2.8%

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 firm has a market cap of $265.04 billion, a price-to-earnings ratio of 12.22, a PEG ratio of 1.46 and a beta of 0.45. The firm has a 50-day moving average of $312.43 and a two-hundred day moving average of $438.47.

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 for the quarter, missing the consensus estimate of $7.29 by ($0.09). UnitedHealth Group had a return on equity of 26.29% and a net margin of 5.39%. The business had revenue of $109.58 billion for the quarter, compared to analyst estimates of $111.56 billion. During the same period in the prior year, the firm posted $6.91 EPS. As a group, sell-side analysts predict that UnitedHealth Group Incorporated will post 29.54 earnings per share for the current fiscal year.

UnitedHealth Group Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, June 24th. Shareholders of record on Monday, June 16th were issued a $2.21 dividend. This is a boost from UnitedHealth Group's previous quarterly dividend of $2.10. The ex-dividend date was Monday, June 16th. This represents a $8.84 annualized dividend and a yield of 3.03%. UnitedHealth Group's dividend payout ratio is 37.02%.

Insider Buying and Selling

In other news, CEO Patrick Hugh Conway sold 589 shares of the company's stock in a transaction that occurred on Tuesday, June 10th. The stock was sold at an average price of $305.00, for a total value of $179,645.00. Following the sale, the chief executive officer directly owned 10,398 shares in the company, valued at approximately $3,171,390. This represents a 5.36% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Kristen Gil acquired 3,700 shares of the firm's 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 completion of the transaction, the director directly owned 3,818 shares in the company, valued at approximately $1,035,327.06. The trade was a 3,135.59% increase in their position. The disclosure for this purchase can be found here. In the last 90 days, insiders purchased 109,408 shares of company stock worth $31,607,768. Insiders own 0.28% of the company's stock.

Institutional Trading of UnitedHealth Group

Several hedge funds have recently added to or reduced their stakes in the business. Marshall & Sterling Wealth Advisors Inc. bought a new position in shares of UnitedHealth Group in the 4th quarter valued at 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 holdings in UnitedHealth Group by 685.7% during the 1st quarter. Bayforest Capital Ltd now owns 55 shares of the healthcare conglomerate's stock worth $29,000 after purchasing an additional 48 shares during the last quarter. Aster Capital Management DIFC Ltd acquired a new stake in UnitedHealth Group during the 4th quarter worth approximately $30,000. Finally, Clal Insurance Enterprises Holdings Ltd raised its position in shares of 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 in the last quarter. Institutional investors and hedge funds 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.

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