Summit Financial LLC Has $12.51 Million Stock Position in UnitedHealth Group Incorporated (NYSE:UNH)

Summit Financial LLC boosted its position in shares of UnitedHealth Group Incorporated (NYSE:UNH - Free Report) by 5.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 24,729 shares of the healthcare conglomerate's stock after purchasing an additional 1,201 shares during the quarter. Summit Financial LLC's holdings in UnitedHealth Group were worth $12,509,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. Norges Bank acquired a new stake in UnitedHealth Group in the 4th quarter worth about $6,375,744,000. Raymond James Financial Inc. purchased a new position in UnitedHealth Group during the fourth quarter worth approximately $1,914,740,000. Amundi grew its stake in shares of UnitedHealth Group by 97.2% during the 4th quarter. Amundi now owns 6,069,100 shares of the healthcare conglomerate's stock valued at $3,183,132,000 after buying an additional 2,991,470 shares during the period. Proficio Capital Partners LLC boosted its holdings in 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 last quarter. Finally, State Street Corp raised its holdings in shares of UnitedHealth Group by 1.3% in the 3rd quarter. State Street Corp now owns 45,540,102 shares of the healthcare conglomerate's stock worth $26,626,387,000 after purchasing an additional 563,554 shares during the period. Hedge funds and other institutional investors own 87.86% of the company's stock.

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Wall Street Analysts Forecast Growth

UNH has been the subject of several research reports. Piper Sandler decreased their price objective on shares of UnitedHealth Group from $605.00 to $600.00 and set an "overweight" rating for the company in a research note on Thursday, January 2nd. Hsbc Global Res upgraded UnitedHealth Group from a "hold" rating to a "strong-buy" rating in a research note on Friday, January 10th. Oppenheimer upped their target price on UnitedHealth Group from $610.00 to $640.00 and gave the company an "outperform" rating in a research report on Friday, December 6th. Stephens raised their price objective on shares of UnitedHealth Group from $605.00 to $675.00 and gave the stock an "overweight" rating in a report on Thursday, December 5th. Finally, Wells Fargo & Company cut their price objective on UnitedHealth Group from $694.00 to $660.00 and set an "overweight" rating on the stock in a research note on Tuesday, January 28th. Twenty investment analysts have rated the stock with a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Buy" and a consensus target price of $629.32.

UnitedHealth Group Stock Up 0.1 %

Shares of NYSE:UNH traded up $0.49 on Wednesday, reaching $523.61. The company had a trading volume of 2,364,754 shares, compared to its average volume of 4,265,418. The stock has a 50-day moving average price of $509.06 and a 200 day moving average price of $542.96. UnitedHealth Group Incorporated has a twelve month low of $436.38 and a twelve month high of $630.73. The company has a quick ratio of 0.91, a current ratio of 0.83 and a debt-to-equity ratio of 0.74. The stock has a market capitalization of $478.95 billion, a P/E ratio of 33.78, a P/E/G ratio of 1.37 and a beta of 0.62.

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

UnitedHealth Group Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, March 18th. Shareholders of record on Monday, March 10th were issued a $2.10 dividend. This represents a $8.40 dividend on an annualized basis and a yield of 1.60%. The ex-dividend date of this dividend was Monday, March 10th. UnitedHealth Group's dividend payout ratio (DPR) is presently 54.19%.

Insider Activity

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

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.