Veritable L.P. Sells 108 Shares of UnitedHealth Group Incorporated (NYSE:UNH)

Veritable L.P. lessened its stake in shares of UnitedHealth Group Incorporated (NYSE:UNH) by 0.4% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 27,455 shares of the healthcare conglomerate’s stock after selling 108 shares during the quarter. Veritable L.P.’s holdings in UnitedHealth Group were worth $13,196,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Great Diamond Partners LLC raised its holdings in shares of UnitedHealth Group by 1.7% in the 2nd quarter. Great Diamond Partners LLC now owns 7,033 shares of the healthcare conglomerate’s stock worth $3,380,000 after acquiring an additional 118 shares during the last quarter. Private Ocean LLC raised its holdings in shares of UnitedHealth Group by 37.1% in the 2nd quarter. Private Ocean LLC now owns 1,272 shares of the healthcare conglomerate’s stock worth $612,000 after acquiring an additional 344 shares during the last quarter. Blue Chip Partners LLC raised its holdings in shares of UnitedHealth Group by 0.5% in the 2nd quarter. Blue Chip Partners LLC now owns 49,995 shares of the healthcare conglomerate’s stock worth $24,030,000 after acquiring an additional 228 shares during the last quarter. Allworth Financial LP increased its stake in UnitedHealth Group by 1.8% in the 2nd quarter. Allworth Financial LP now owns 27,427 shares of the healthcare conglomerate’s stock valued at $13,183,000 after buying an additional 475 shares during the last quarter. Finally, Salem Investment Counselors Inc. increased its stake in UnitedHealth Group by 3.1% in the 2nd quarter. Salem Investment Counselors Inc. now owns 31,222 shares of the healthcare conglomerate’s stock valued at $15,006,000 after buying an additional 942 shares during the last quarter. Institutional investors own 85.69% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently commented on the stock. Royal Bank of Canada raised their price objective on shares of UnitedHealth Group from $572.00 to $596.00 and gave the stock an “outperform” rating in a report on Monday, October 16th. Piper Sandler raised their price target on shares of UnitedHealth Group from $580.00 to $584.00 and gave the company an “overweight” rating in a report on Monday, October 16th. Sanford C. Bernstein raised shares of UnitedHealth Group from a “market perform” rating to an “outperform” rating and raised their price target for the company from $595.00 to $603.00 in a report on Tuesday, July 18th. Jefferies Financial Group raised their price target on shares of UnitedHealth Group from $529.00 to $531.00 and gave the company a “hold” rating in a report on Monday, October 9th. Finally, Deutsche Bank Aktiengesellschaft cut their price target on shares of UnitedHealth Group from $564.00 to $555.00 in a report on Monday, July 17th. Two investment analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $578.30.

Insider Activity at UnitedHealth Group

In related news, EVP Erin Mcsweeney sold 4,498 shares of the business’s stock in a transaction dated Monday, October 16th. The shares were sold at an average price of $544.28, for a total transaction of $2,448,171.44. Following the transaction, the executive vice president now owns 9,218 shares in the company, valued at $5,017,173.04. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, EVP Erin Mcsweeney sold 4,498 shares of the business’s stock in a transaction dated Monday, October 16th. The shares were sold at an average price of $544.28, for a total transaction of $2,448,171.44. Following the sale, the executive vice president now owns 9,218 shares of the company’s stock, valued at $5,017,173.04. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Stephen J. Hemsley sold 121,515 shares of the business’s stock in a transaction dated Tuesday, October 17th. The stock was sold at an average price of $540.58, for a total transaction of $65,688,578.70. Following the sale, the director now directly owns 521,818 shares in the company, valued at approximately $282,084,374.44. The disclosure for this sale can be found here. 0.35% of the stock is owned by corporate insiders.

UnitedHealth Group Price Performance

Shares of NYSE:UNH opened at $536.72 on Tuesday. The stock has a market cap of $496.42 billion, a PE ratio of 23.54, a PEG ratio of 1.64 and a beta of 0.63. The company’s fifty day moving average is $514.87 and its 200 day moving average is $497.20. UnitedHealth Group Incorporated has a 52 week low of $445.68 and a 52 week high of $553.00. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 0.65.

UnitedHealth Group (NYSE:UNH) last released its quarterly earnings data on Friday, October 13th. The healthcare conglomerate reported $6.56 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $6.33 by $0.23. UnitedHealth Group had a net margin of 6.02% and a return on equity of 26.58%. The firm had revenue of $92.36 billion for the quarter, compared to analysts’ expectations of $91.41 billion. During the same quarter in the previous year, the company earned $5.79 earnings per share. The company’s revenue for the quarter was up 14.2% compared to the same quarter last year. Research analysts anticipate that UnitedHealth Group Incorporated will post 24.94 earnings per share for the current year.

UnitedHealth Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 12th. Investors of record on Monday, December 4th will be given a dividend of $1.88 per share. This represents a $7.52 annualized dividend and a dividend yield of 1.40%. The ex-dividend date is Friday, December 1st. UnitedHealth Group’s dividend payout ratio is currently 32.64%.

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.