Riverbend Wealth Management LLC Acquires New Shares in UnitedHealth Group Incorporated (NYSE:UNH)

Riverbend Wealth Management LLC bought a new position in shares of UnitedHealth Group Incorporated (NYSE:UNH - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 2,349 shares of the healthcare conglomerate's stock, valued at approximately $1,198,000. UnitedHealth Group comprises 1.1% of Riverbend Wealth Management LLC's investment portfolio, making the stock its 23rd biggest holding.

Several other institutional investors have also recently added to or reduced their stakes in the business. Raymond James Financial Inc. acquired a new stake in shares of UnitedHealth Group in the fourth quarter valued at approximately $1,914,740,000. Amundi boosted its holdings in shares of UnitedHealth Group by 97.2% in the fourth quarter. Amundi now owns 6,069,100 shares of the healthcare conglomerate's stock valued at $3,183,132,000 after acquiring an additional 2,991,470 shares during the period. Proficio Capital Partners LLC boosted its holdings in shares of UnitedHealth Group by 76,830.4% in the fourth quarter. Proficio Capital Partners LLC now owns 1,888,641 shares of the healthcare conglomerate's stock valued at $955,388,000 after acquiring an additional 1,886,186 shares during the period. Accredited Investors Inc. lifted its holdings in shares of UnitedHealth Group by 9,235.4% during the third quarter. Accredited Investors Inc. now owns 784,924 shares of the healthcare conglomerate's stock worth $458,929,000 after purchasing an additional 776,516 shares during the period. Finally, Caisse DE Depot ET Placement DU Quebec lifted its holdings in shares of UnitedHealth Group by 129.7% during the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 1,029,540 shares of the healthcare conglomerate's stock worth $601,951,000 after purchasing an additional 581,324 shares during the period. Hedge funds and other institutional investors own 87.86% of the company's stock.

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Insiders Place Their Bets

In other news, Director Timothy Patrick Flynn purchased 1,000 shares of the stock in a transaction dated Friday, January 17th. The stock was acquired at an average cost of $511.57 per share, for a total transaction of $511,570.00. Following the acquisition, the director now owns 4,500 shares of the company's stock, valued at $2,302,065. The trade was a 28.57 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. 0.33% of the stock is owned by company insiders.

UnitedHealth Group Trading Up 1.3 %

Shares of NYSE UNH traded up $6.32 during midday trading on Tuesday, hitting $486.54. The stock had a trading volume of 4,100,487 shares, compared to its average volume of 4,993,668. The company has a market capitalization of $445.04 billion, a price-to-earnings ratio of 31.39, a PEG ratio of 1.37 and a beta of 0.62. The company has a quick ratio of 0.91, a current ratio of 0.83 and a debt-to-equity ratio of 0.74. UnitedHealth Group Incorporated has a 1-year low of $436.38 and a 1-year high of $630.73. The company has a fifty day moving average price of $512.82 and a 200 day moving average price of $552.00.

UnitedHealth Group (NYSE:UNH - Get Free Report) last announced its earnings results on Thursday, January 16th. The healthcare conglomerate reported $6.81 EPS for the quarter, beating the consensus estimate of $6.74 by $0.07. The business had revenue of $100.81 billion for the quarter, compared to the consensus estimate of $101.60 billion. UnitedHealth Group had a return on equity of 26.69% and a net margin of 3.60%. The company's revenue was up 6.8% on a year-over-year basis. During the same period last year, the business posted $5.83 EPS. On average, analysts predict that UnitedHealth Group Incorporated will post 29.54 earnings per share for the current year.

UnitedHealth Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 18th. Shareholders of record on Monday, March 10th will be issued a dividend of $2.10 per share. The ex-dividend date of this dividend is Monday, March 10th. This represents a $8.40 annualized dividend and a yield of 1.73%. UnitedHealth Group's dividend payout ratio is presently 54.19%.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on UNH shares. KeyCorp reaffirmed an "overweight" rating and set a $650.00 price target on shares of UnitedHealth Group in a report on Friday, January 17th. Wells Fargo & Company cut their price objective on UnitedHealth Group from $694.00 to $660.00 and set an "overweight" rating for the company in a research report on Tuesday, January 28th. HSBC upgraded UnitedHealth Group from a "hold" rating to a "buy" rating and set a $595.00 price objective for the company in a research report on Friday, January 10th. Piper Sandler cut their price objective on UnitedHealth Group from $605.00 to $600.00 and set an "overweight" rating for the company in a research report on Thursday, January 2nd. Finally, Stephens increased their price objective on UnitedHealth Group from $605.00 to $675.00 and gave the stock an "overweight" rating in a research report on Thursday, December 5th. One equities research analyst has rated the stock with a hold rating, twenty have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Buy" and a consensus target price of $629.32.

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.