Indiana Trust & Investment Management CO Trims Stake in UnitedHealth Group Incorporated (NYSE:UNH)

Indiana Trust & Investment Management CO trimmed its stake in UnitedHealth Group Incorporated (NYSE:UNH) by 4.0% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 582 shares of the healthcare conglomerate’s stock after selling 24 shares during the period. Indiana Trust & Investment Management CO’s holdings in UnitedHealth Group were worth $280,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in UNH. Covea Finance bought a new position in shares of UnitedHealth Group during the 2nd quarter valued at about $4,374,000. Nordea Investment Management AB raised its stake in shares of UnitedHealth Group by 2.8% during the second quarter. Nordea Investment Management AB now owns 1,887,479 shares of the healthcare conglomerate’s stock worth $899,384,000 after acquiring an additional 51,595 shares in the last quarter. Independence Bank of Kentucky grew its holdings in shares of UnitedHealth Group by 18.0% during the 2nd quarter. Independence Bank of Kentucky now owns 3,401 shares of the healthcare conglomerate’s stock valued at $1,635,000 after purchasing an additional 520 shares during the last quarter. Greenfield Savings Bank grew its stake in shares of UnitedHealth Group by 2.2% during the second quarter. Greenfield Savings Bank now owns 6,421 shares of the healthcare conglomerate’s stock valued at $3,086,000 after buying an additional 140 shares during the last quarter. Finally, Enterprise Bank & Trust Co boosted its holdings in UnitedHealth Group by 11.3% during the 2nd quarter. Enterprise Bank & Trust Co now owns 9,534 shares of the healthcare conglomerate’s stock valued at $4,582,000 after acquiring an additional 968 shares during the period. 85.69% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several brokerages have recently issued reports on UNH. Truist Financial cut their target price on shares of UnitedHealth Group from $610.00 to $580.00 in a report on Wednesday, June 14th. Mizuho lowered their price objective on shares of UnitedHealth Group from $600.00 to $549.00 in a research note on Tuesday, July 11th. StockNews.com assumed coverage on UnitedHealth Group in a report on Thursday, August 17th. They set a “buy” rating on the stock. JPMorgan Chase & Co. boosted their target price on UnitedHealth Group from $527.00 to $532.00 and gave the company an “overweight” rating in a research note on Monday, July 17th. Finally, Piper Sandler began coverage on shares of UnitedHealth Group in a report on Thursday, May 25th. They issued an “overweight” rating and a $580.00 price target on the stock. Two research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $575.65.

UnitedHealth Group Stock Performance

UnitedHealth Group stock opened at $486.70 on Friday. The stock’s 50 day moving average is $491.55 and its 200 day moving average is $486.55. The company has a market capitalization of $450.83 billion, a P/E ratio of 21.78, a PEG ratio of 1.42 and a beta of 0.66. UnitedHealth Group Incorporated has a twelve month low of $445.68 and a twelve month high of $558.10. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 0.68.

UnitedHealth Group (NYSE:UNH) last issued its earnings results on Friday, July 14th. The healthcare conglomerate reported $6.14 EPS for the quarter, beating the consensus estimate of $5.92 by $0.22. The business had revenue of $92.90 billion for the quarter, compared to the consensus estimate of $90.97 billion. UnitedHealth Group had a return on equity of 26.72% and a net margin of 6.06%. The company’s revenue was up 15.6% compared to the same quarter last year. During the same period last year, the business posted $5.57 EPS. On average, equities research analysts predict that UnitedHealth Group Incorporated will post 24.83 earnings per share for the current fiscal year.

UnitedHealth Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 19th. Investors of record on Monday, September 11th will be issued a $1.88 dividend. This represents a $7.52 dividend on an annualized basis and a dividend yield of 1.55%. The ex-dividend date of this dividend is Friday, September 8th. UnitedHealth Group’s payout ratio is 33.65%.

Insiders Place Their Bets

In other UnitedHealth Group news, CEO Andrew Witty sold 4,000 shares of the business’s stock in a transaction on Wednesday, July 19th. The shares were sold at an average price of $506.19, for a total value of $2,024,760.00. Following the sale, the chief executive officer now owns 78,573 shares in the company, valued at approximately $39,772,866.87. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 0.35% of the company’s stock.

UnitedHealth Group Profile

UnitedHealth Group Incorporated operates as a diversified health care company in the United States. It 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.