Rede Wealth LLC Sells 2,043 Shares of UnitedHealth Group Incorporated $UNH

Rede Wealth LLC reduced its holdings in shares of UnitedHealth Group Incorporated (NYSE:UNH) by 70.6% in the 3rd quarter, Holdings Channel.com reports. The fund owned 849 shares of the healthcare conglomerate’s stock after selling 2,043 shares during the period. Rede Wealth LLC’s holdings in UnitedHealth Group were worth $293,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in the business. FSM Wealth Advisors LLC lifted its position in UnitedHealth Group by 149.8% during the 3rd quarter. FSM Wealth Advisors LLC now owns 2,605 shares of the healthcare conglomerate’s stock worth $899,000 after buying an additional 1,562 shares in the last quarter. Apella Capital LLC raised its holdings in UnitedHealth Group by 82.7% during the third quarter. Apella Capital LLC now owns 3,167 shares of the healthcare conglomerate’s stock worth $1,130,000 after acquiring an additional 1,434 shares in the last quarter. Persium Advisors LLC boosted its position in UnitedHealth Group by 15.4% during the third quarter. Persium Advisors LLC now owns 2,178 shares of the healthcare conglomerate’s stock valued at $752,000 after purchasing an additional 291 shares during the last quarter. Banque de Luxembourg S.A. increased its position in shares of UnitedHealth Group by 55.6% during the 3rd quarter. Banque de Luxembourg S.A. now owns 23,810 shares of the healthcare conglomerate’s stock worth $8,222,000 after purchasing an additional 8,504 shares during the last quarter. Finally, Apollon Financial LLC acquired a new stake in shares of UnitedHealth Group in the 3rd quarter valued at approximately $431,000. Institutional investors own 87.86% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the stock. Weiss Ratings upgraded shares of UnitedHealth Group from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Friday, October 24th. Wells Fargo & Company raised their target price on shares of UnitedHealth Group from $267.00 to $400.00 and gave the company an “overweight” rating in a research note on Tuesday, October 7th. Mizuho upped their price objective on UnitedHealth Group from $300.00 to $430.00 and gave the company an “outperform” rating in a research note on Thursday, October 9th. JPMorgan Chase & Co. boosted their target price on UnitedHealth Group from $310.00 to $425.00 and gave the stock an “overweight” rating in a report on Thursday, October 9th. Finally, Jefferies Financial Group lifted their price objective on shares of UnitedHealth Group from $317.00 to $409.00 and gave the stock a “buy” rating in a research report on Friday, October 17th. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating, nine have assigned a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $385.75.

UnitedHealth Group Stock Up 2.3%

UNH opened at $338.47 on Wednesday. The stock has a fifty day moving average of $330.76 and a 200-day moving average of $322.56. The company has a market capitalization of $306.60 billion, a P/E ratio of 17.67, a P/E/G ratio of 2.00 and a beta of 0.42. UnitedHealth Group Incorporated has a fifty-two week low of $234.60 and a fifty-two week high of $606.36. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.82 and a current ratio of 0.82.

UnitedHealth Group (NYSE:UNH) last released its quarterly earnings results on Tuesday, October 28th. The healthcare conglomerate reported $2.92 EPS for the quarter, topping analysts’ consensus estimates of $2.87 by $0.05. UnitedHealth Group had a net margin of 4.04% and a return on equity of 19.23%. The business had revenue of $113.16 billion for the quarter, compared to analyst estimates of $113.19 billion. During the same period last year, the firm earned $7.15 earnings per share. UnitedHealth Group’s revenue for the quarter was up 12.2% compared to the same quarter last year. On average, equities analysts expect that UnitedHealth Group Incorporated will post 29.54 EPS for the current year.

UnitedHealth Group Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 16th. Investors of record on Monday, December 8th were given a dividend of $2.21 per share. The ex-dividend date of this dividend was Monday, December 8th. This represents a $8.84 dividend on an annualized basis and a yield of 2.6%. UnitedHealth Group’s dividend payout ratio is currently 46.14%.

UnitedHealth Group Company Profile

UnitedHealth Group Inc is a diversified health care company headquartered in Minnetonka, Minnesota, that operates two primary business platforms: UnitedHealthcare and Optum. Founded in 1977, the company provides a broad range of health benefits and health care services to individuals, employers, governmental entities and other organizations. Its operations span commercial employer-sponsored plans, individual and Medicare and Medicaid programs, and services for customers and health systems in the United States and selected international markets.

UnitedHealthcare is the company’s benefits business, administering health plans and networks, managing provider relationships, and offering coverage products for employers, individuals, and government-sponsored programs.