Summit Global Investments Sells 1,207 Shares of UnitedHealth Group Incorporated (NYSE:UNH)

Summit Global Investments lessened its stake in shares of UnitedHealth Group Incorporated (NYSE:UNH - Free Report) by 23.3% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 3,968 shares of the healthcare conglomerate's stock after selling 1,207 shares during the quarter. Summit Global Investments' holdings in UnitedHealth Group were worth $2,007,000 as of its most recent filing with the SEC.

A number of other institutional investors have also made changes to their positions in UNH. Wallace Capital Management Inc. boosted its stake in UnitedHealth Group by 0.9% during the 3rd quarter. Wallace Capital Management Inc. now owns 2,119 shares of the healthcare conglomerate's stock valued at $1,239,000 after purchasing an additional 19 shares during the period. Western Pacific Wealth Management LP boosted its position in shares of UnitedHealth Group by 2.2% in the fourth quarter. Western Pacific Wealth Management LP now owns 902 shares of the healthcare conglomerate's stock valued at $456,000 after acquiring an additional 19 shares during the period. MCF Advisors LLC increased its position in UnitedHealth Group by 0.8% during the fourth quarter. MCF Advisors LLC now owns 2,578 shares of the healthcare conglomerate's stock worth $1,304,000 after acquiring an additional 20 shares during the period. Axiom Financial Strategies LLC boosted its holdings in UnitedHealth Group by 3.6% in the 4th quarter. Axiom Financial Strategies LLC now owns 575 shares of the healthcare conglomerate's stock valued at $291,000 after purchasing an additional 20 shares during the period. Finally, 44 Wealth Management LLC increased its holdings in shares of UnitedHealth Group by 1.6% during the 4th quarter. 44 Wealth Management LLC now owns 1,309 shares of the healthcare conglomerate's stock worth $662,000 after purchasing an additional 21 shares during the period. 87.86% of the stock is owned by institutional investors.

Remove Ads

Wall Street Analyst Weigh In

Several brokerages recently issued reports on UNH. Stephens boosted their price target on UnitedHealth Group from $605.00 to $675.00 and gave the company an "overweight" rating in a research note on Thursday, December 5th. StockNews.com upgraded UnitedHealth Group from a "hold" rating to a "buy" rating in a research note on Thursday, January 23rd. Cantor Fitzgerald reissued an "overweight" rating and issued a $700.00 price target on shares of UnitedHealth Group in a report on Friday, January 17th. Deutsche Bank Aktiengesellschaft lifted their target price on shares of UnitedHealth Group from $595.00 to $625.00 and gave the company a "buy" rating in a research report on Tuesday, December 3rd. Finally, Piper Sandler cut their price target 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. Twenty investment analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Buy" and an average target price of $629.32.

UnitedHealth Group Trading Down 0.4 %

Shares of NYSE:UNH traded down $2.31 during midday trading on Thursday, hitting $515.89. The company had a trading volume of 2,819,191 shares, compared to its average volume of 4,080,845. The firm has a fifty day simple moving average of $508.60 and a 200 day simple moving average of $545.37. The stock has a market cap of $471.89 billion, a price-to-earnings ratio of 33.28, a PEG ratio of 1.37 and a beta of 0.62. 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 12 month low of $436.38 and a 12 month high of $630.73.

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

UnitedHealth Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, March 18th. Investors of record on Monday, March 10th were paid a dividend of $2.10 per share. This represents a $8.40 annualized dividend and a yield of 1.63%. The ex-dividend date was Monday, March 10th. UnitedHealth Group's payout ratio is presently 54.19%.

Insiders Place Their Bets

In related news, Director Timothy Patrick Flynn acquired 1,000 shares of the stock in a transaction dated Friday, January 17th. The stock was bought at an average price of $511.57 per share, with a total value of $511,570.00. Following the completion of the transaction, the director now directly owns 4,500 shares of the company's stock, valued at approximately $2,302,065. The trade was a 28.57 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.33% 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.