UnitedHealth Group Incorporated (NYSE:UNH) Stock Position Trimmed by Renaissance Investment Group LLC

Renaissance Investment Group LLC trimmed its holdings in UnitedHealth Group Incorporated (NYSE:UNH) by 5.0% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,116 shares of the healthcare conglomerate’s stock after selling 59 shares during the quarter. Renaissance Investment Group LLC’s holdings in UnitedHealth Group were worth $536,000 at the end of the most recent reporting period.

A number of other institutional investors also recently added to or reduced their stakes in UNH. ZRC Wealth Management LLC raised its holdings in UnitedHealth Group by 275.6% during the second quarter. ZRC Wealth Management LLC now owns 169 shares of the healthcare conglomerate’s stock worth $81,000 after purchasing an additional 124 shares in the last quarter. Capital Market Strategies LLC acquired a new stake in shares of UnitedHealth Group in the second quarter valued at $1,183,000. MADDEN SECURITIES Corp bought a new position in UnitedHealth Group during the second quarter valued at about $256,000. Prentice Wealth Management LLC lifted its holdings in UnitedHealth Group by 6.0% in the 2nd quarter. Prentice Wealth Management LLC now owns 2,363 shares of the healthcare conglomerate’s stock valued at $1,136,000 after acquiring an additional 134 shares during the last quarter. Finally, Neville Rodie & Shaw Inc. grew its stake in shares of UnitedHealth Group by 2.5% in the 2nd quarter. Neville Rodie & Shaw Inc. now owns 31,972 shares of the healthcare conglomerate’s stock worth $15,367,000 after purchasing an additional 768 shares during the last quarter. Institutional investors and hedge funds own 85.69% of the company’s stock.

UnitedHealth Group Stock Up 0.6 %

UNH opened at $486.70 on Friday. The company has a market capitalization of $450.83 billion, a PE ratio of 21.78, a price-to-earnings-growth ratio of 1.42 and a beta of 0.66. The business has a 50-day moving average of $491.55 and a 200-day moving average of $486.55. UnitedHealth Group Incorporated has a fifty-two week low of $445.68 and a fifty-two week high of $558.10. The company has a debt-to-equity ratio of 0.68, a current ratio of 0.80 and a quick ratio of 0.80.

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

UnitedHealth Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 19th. Shareholders of record on Monday, September 11th will be issued a dividend of $1.88 per share. The ex-dividend date of this dividend is Friday, September 8th. This represents a $7.52 annualized dividend and a yield of 1.55%. UnitedHealth Group’s dividend payout ratio (DPR) is presently 33.65%.

Wall Street Analysts Forecast Growth

UNH has been the topic of several recent research reports. Sanford C. Bernstein upgraded shares of UnitedHealth Group from a “market perform” rating to an “outperform” rating and lifted their price target for the stock from $595.00 to $603.00 in a research report on Tuesday, July 18th. Stephens reaffirmed an “overweight” rating and set a $560.00 target price on shares of UnitedHealth Group in a research report on Friday, August 11th. HSBC initiated coverage on UnitedHealth Group in a research note on Wednesday, September 6th. They issued a “hold” rating and a $540.00 price target on the stock. Wells Fargo & Company dropped their target price on shares of UnitedHealth Group from $616.00 to $561.00 in a research report on Thursday, July 13th. Finally, Truist Financial lowered their price objective on shares of UnitedHealth Group from $610.00 to $580.00 in a research report on Wednesday, June 14th. Two 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 has an average rating of “Moderate Buy” and an average target price of $575.65.

Insider Transactions at UnitedHealth Group

In related news, CEO Andrew Witty sold 4,000 shares of UnitedHealth Group 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 transaction, 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 legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.35% of the stock is owned by corporate insiders.

UnitedHealth Group Company 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.