UnitedHealth Group Incorporated (NYSE:UNH) Shares Sold by Riggs Asset Managment Co. Inc.

Riggs Asset Managment Co. Inc. decreased its position in UnitedHealth Group Incorporated (NYSE:UNH) by 71.7% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 62 shares of the healthcare conglomerate’s stock after selling 157 shares during the quarter. Riggs Asset Managment Co. Inc.’s holdings in UnitedHealth Group were worth $32,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in the company. Financial Management Professionals Inc. grew its position in shares of UnitedHealth Group by 0.8% in the 1st quarter. Financial Management Professionals Inc. now owns 2,224 shares of the healthcare conglomerate’s stock worth $1,165,000 after acquiring an additional 17 shares in the last quarter. Richwood Investment Advisors LLC boosted its position in UnitedHealth Group by 0.4% during the 4th quarter. Richwood Investment Advisors LLC now owns 5,247 shares of the healthcare conglomerate’s stock valued at $2,654,000 after purchasing an additional 20 shares during the period. Global Wealth Strategies & Associates boosted its position in UnitedHealth Group by 28.6% during the 1st quarter. Global Wealth Strategies & Associates now owns 90 shares of the healthcare conglomerate’s stock valued at $47,000 after purchasing an additional 20 shares during the period. Kolinsky Wealth Management LLC boosted its position in UnitedHealth Group by 1.0% during the 4th quarter. Kolinsky Wealth Management LLC now owns 2,135 shares of the healthcare conglomerate’s stock valued at $1,080,000 after purchasing an additional 21 shares during the period. Finally, Retirement Planning Group LLC boosted its position in UnitedHealth Group by 5.1% during the 1st quarter. Retirement Planning Group LLC now owns 430 shares of the healthcare conglomerate’s stock valued at $225,000 after purchasing an additional 21 shares during the period. Institutional investors and hedge funds own 87.86% of the company’s stock.

Insider Buying and Selling at UnitedHealth Group

In other news, CEO Patrick Hugh Conway sold 589 shares of the stock in a transaction dated Tuesday, June 10th. The stock was sold at an average price of $305.00, for a total transaction of $179,645.00. Following the transaction, the chief executive officer owned 10,398 shares of the company’s stock, valued at approximately $3,171,390. This represents a 5.36% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO John F. Rex acquired 17,175 shares of the stock in a transaction dated Friday, May 16th. The shares were bought at an average cost of $291.12 per share, for a total transaction of $4,999,986.00. Following the acquisition, the chief financial officer owned 203,796 shares in the company, valued at $59,329,091.52. The trade was a 9.20% increase in their position. The disclosure for this purchase can be found here. Insiders have acquired a total of 109,408 shares of company stock worth $31,607,768 in the last 90 days. Company insiders own 0.28% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on UNH shares. Wall Street Zen lowered UnitedHealth Group from a “buy” rating to a “hold” rating in a research report on Saturday, May 24th. Deutsche Bank Aktiengesellschaft cut their target price on UnitedHealth Group from $521.00 to $362.00 and set a “buy” rating on the stock in a research note on Wednesday, May 14th. TD Cowen downgraded UnitedHealth Group from a “buy” rating to a “hold” rating and set a $308.00 target price on the stock. in a research note on Monday, May 19th. Robert W. Baird downgraded UnitedHealth Group from an “outperform” rating to a “neutral” rating and set a $312.00 target price on the stock. in a research note on Wednesday, June 11th. Finally, Wolfe Research cut their target price on UnitedHealth Group from $501.00 to $390.00 and set an “outperform” rating on the stock in a research note on Tuesday, May 20th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and sixteen have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $415.57.

UnitedHealth Group Stock Up 0.4%

NYSE:UNH opened at $308.69 on Friday. The firm has a market capitalization of $280.03 billion, a price-to-earnings ratio of 12.93, a PEG ratio of 1.48 and a beta of 0.45. UnitedHealth Group Incorporated has a 1-year low of $248.88 and a 1-year high of $630.73. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.71. The business’s fifty day moving average price is $324.99 and its 200 day moving average price is $447.32.

UnitedHealth Group (NYSE:UNH) last issued its earnings results on Thursday, April 17th. The healthcare conglomerate reported $7.20 earnings per share for the quarter, missing the consensus estimate of $7.29 by ($0.09). UnitedHealth Group had a return on equity of 26.29% and a net margin of 5.39%. The firm had revenue of $109.58 billion during the quarter, compared to analyst estimates of $111.56 billion. During the same period in the previous year, the company earned $6.91 earnings per share. On average, sell-side analysts forecast that UnitedHealth Group Incorporated will post 29.54 earnings per share for the current fiscal year.

UnitedHealth Group Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 24th. Shareholders of record on Monday, June 16th were given a $2.21 dividend. This is a positive change from UnitedHealth Group’s previous quarterly dividend of $2.10. This represents a $8.84 annualized dividend and a yield of 2.86%. The ex-dividend date was Monday, June 16th. UnitedHealth Group’s dividend payout ratio is presently 37.02%.

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.