Forefront Wealth Management Inc. Purchases New Position in UnitedHealth Group Incorporated (NYSE:UNH)

Forefront Wealth Management Inc. purchased a new position in UnitedHealth Group Incorporated (NYSE:UNH - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 4,595 shares of the healthcare conglomerate's stock, valued at approximately $2,324,000. UnitedHealth Group comprises about 2.1% of Forefront Wealth Management Inc.'s holdings, making the stock its 17th largest holding.

Other hedge funds also recently added to or reduced their stakes in the company. M&T Bank Corp grew its stake in UnitedHealth Group by 13.4% during the 3rd quarter. M&T Bank Corp now owns 220,590 shares of the healthcare conglomerate's stock worth $128,975,000 after buying an additional 26,074 shares during the last quarter. Sugarloaf Wealth Management LLC lifted its position in UnitedHealth Group by 17.6% in the 4th quarter. Sugarloaf Wealth Management LLC now owns 7,957 shares of the healthcare conglomerate's stock valued at $4,025,000 after purchasing an additional 1,193 shares during the last quarter. Benjamin Edwards Inc. grew its position in UnitedHealth Group by 1,275.3% in the 3rd quarter. Benjamin Edwards Inc. now owns 44,547 shares of the healthcare conglomerate's stock worth $26,060,000 after purchasing an additional 41,308 shares during the last quarter. Parsifal Capital Management LP bought a new stake in shares of UnitedHealth Group during the third quarter valued at approximately $21,165,000. Finally, Signal Advisors Wealth LLC grew its holdings in UnitedHealth Group by 13.0% in the 4th quarter. Signal Advisors Wealth LLC now owns 9,115 shares of the healthcare conglomerate's stock worth $4,611,000 after buying an additional 1,051 shares in the last quarter. 87.86% of the stock is owned by institutional investors and hedge funds.

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Analyst Upgrades and Downgrades

A number of research analysts have recently commented on UNH shares. StockNews.com raised UnitedHealth Group from a "hold" rating to a "buy" rating in a report on Thursday, January 23rd. Stephens increased their price objective on shares of UnitedHealth Group from $605.00 to $675.00 and gave the company an "overweight" rating in a report on Thursday, December 5th. KeyCorp reaffirmed an "overweight" rating and set a $650.00 price target on shares of UnitedHealth Group in a research note on Friday, January 17th. 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 report on Thursday, January 2nd. Finally, Deutsche Bank Aktiengesellschaft boosted their price target on shares of UnitedHealth Group from $595.00 to $625.00 and gave the stock a "buy" rating in a research report on Tuesday, December 3rd. Twenty equities research analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Buy" and an average price target of $629.32.

Insider Buying and Selling

In other UnitedHealth Group news, Director Timothy Patrick Flynn purchased 1,000 shares of the company's stock in a transaction on Friday, January 17th. The shares were bought at an average cost of $511.57 per share, with a total value of $511,570.00. Following the transaction, the director now directly owns 4,500 shares in the company, valued at approximately $2,302,065. This represents a 28.57 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 0.33% of the company's stock.

UnitedHealth Group Stock Up 0.9 %

Shares of UNH traded up $4.67 during trading hours on Wednesday, reaching $518.10. The company's stock had a trading volume of 3,253,715 shares, compared to its average volume of 4,086,604. The company has a 50 day moving average of $509.10 and a two-hundred day moving average of $545.56. UnitedHealth Group Incorporated has a 1-year low of $436.38 and a 1-year high of $630.73. The firm has a market cap of $473.92 billion, a price-to-earnings ratio of 33.43, a P/E/G 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 (NYSE:UNH - Get Free Report) last issued its earnings results on Thursday, January 16th. The healthcare conglomerate reported $6.81 earnings per share for the quarter, topping the consensus estimate of $6.74 by $0.07. The company had revenue of $100.81 billion for the quarter, compared to analyst estimates of $101.60 billion. UnitedHealth Group had a return on equity of 26.69% and a net margin of 3.60%. The business's revenue was up 6.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $5.83 EPS. As a group, research analysts predict that UnitedHealth Group Incorporated will post 29.54 EPS for the current fiscal year.

UnitedHealth Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 18th. Stockholders of record on Monday, March 10th were paid a $2.10 dividend. This represents a $8.40 dividend on an annualized basis and a dividend yield of 1.62%. The ex-dividend date was Monday, March 10th. UnitedHealth Group's payout ratio is 54.19%.

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.