Hobbs Wealth Management LLC Invests $243,000 in UnitedHealth Group Incorporated (NYSE:UNH)

Hobbs Wealth Management LLC acquired a new position in shares of UnitedHealth Group Incorporated (NYSE:UNH - Free Report) during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 480 shares of the healthcare conglomerate's stock, valued at approximately $243,000.

A number of other institutional investors and hedge funds have also made changes to their positions in UNH. Geode Capital Management LLC boosted its holdings in UnitedHealth Group by 1.6% during the 4th quarter. Geode Capital Management LLC now owns 19,956,219 shares of the healthcare conglomerate's stock valued at $10,068,869,000 after acquiring an additional 319,515 shares during the period. Norges Bank bought a new position in UnitedHealth Group in the fourth quarter worth approximately $6,375,744,000. Franklin Resources Inc. grew its stake in UnitedHealth Group by 10.7% in the fourth quarter. Franklin Resources Inc. now owns 8,923,770 shares of the healthcare conglomerate's stock valued at $4,514,178,000 after purchasing an additional 861,854 shares during the last quarter. Bank of New York Mellon Corp lifted its position in UnitedHealth Group by 0.5% during the fourth quarter. Bank of New York Mellon Corp now owns 7,931,478 shares of the healthcare conglomerate's stock valued at $4,012,218,000 after acquiring an additional 36,394 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its stake in UnitedHealth Group by 3.0% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 6,223,331 shares of the healthcare conglomerate's stock worth $3,148,134,000 after buying an additional 182,361 shares during the last quarter. 87.86% of the stock is owned by hedge funds and other institutional investors.

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Analyst Upgrades and Downgrades

UNH has been the subject of a number of research analyst reports. KeyCorp reaffirmed an "overweight" rating and issued a $650.00 price target on shares of UnitedHealth Group in a report on Friday, January 17th. Wells Fargo & Company cut their price target on UnitedHealth Group from $694.00 to $660.00 and set an "overweight" rating for the company in a research note on Tuesday, January 28th. Truist Financial lifted their target price on shares of UnitedHealth Group from $610.00 to $660.00 and gave the company a "buy" rating in a research report on Friday. Hsbc Global Res raised shares of UnitedHealth Group from a "hold" rating to a "strong-buy" rating in a research note on Friday, January 10th. Finally, HSBC upgraded UnitedHealth Group from a "hold" rating to a "buy" rating and set a $595.00 target price on the stock in a research report on Friday, January 10th. Twenty-one equities research analysts have rated the stock with a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, UnitedHealth Group has an average rating of "Buy" and an average price target of $632.85.

Insider Activity

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

UnitedHealth Group Stock Down 2.2 %

UNH traded down $13.24 on Monday, hitting $586.23. 4,749,319 shares of the company were exchanged, compared to its average volume of 4,346,438. The company has a current ratio of 0.83, a quick ratio of 0.91 and a debt-to-equity ratio of 0.74. UnitedHealth Group Incorporated has a twelve month low of $438.50 and a twelve month high of $630.73. The firm has a 50-day moving average price of $512.87 and a two-hundred day moving average price of $541.80. The company has a market cap of $536.23 billion, a price-to-earnings ratio of 37.82, a price-to-earnings-growth ratio of 1.37 and a beta of 0.61.

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

UnitedHealth Group Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, March 18th. Stockholders of record on Monday, March 10th were paid a dividend of $2.10 per share. The ex-dividend date of this dividend was Monday, March 10th. This represents a $8.40 dividend on an annualized basis and a dividend yield of 1.43%. UnitedHealth Group's dividend payout ratio (DPR) is 54.19%.

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.