UnitedHealth Group (NYSE:UNH) Announces Quarterly Earnings Results

UnitedHealth Group (NYSE:UNH) issued its earnings results on Tuesday. The healthcare conglomerate reported $6.91 earnings per share for the quarter, beating the consensus estimate of $6.63 by $0.28, RTT News reports. The business had revenue of $99.80 billion for the quarter, compared to the consensus estimate of $99.23 billion. UnitedHealth Group had a net margin of 4.05% and a return on equity of 26.50%. The business’s quarterly revenue was up 8.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $6.26 earnings per share. UnitedHealth Group updated its FY 2024 guidance to 27.500-28.000 EPS and its FY24 guidance to $27.50-28.00 EPS.

UnitedHealth Group Trading Up 2.2 %

UnitedHealth Group stock opened at $478.99 on Thursday. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.79 and a current ratio of 0.85. UnitedHealth Group has a 1 year low of $436.38 and a 1 year high of $554.70. The firm’s 50-day moving average is $489.51 and its 200-day moving average is $515.38. The company has a market cap of $441.60 billion, a P/E ratio of 29.28, a PEG ratio of 1.28 and a beta of 0.54.

UnitedHealth Group Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 19th. Stockholders of record on Monday, March 11th were given a $1.88 dividend. The ex-dividend date was Friday, March 8th. This represents a $7.52 dividend on an annualized basis and a dividend yield of 1.57%. UnitedHealth Group’s payout ratio is currently 45.97%.

Wall Street Analyst Weigh In

Several analysts recently commented on UNH shares. Truist Financial reiterated a “buy” rating and issued a $600.00 price objective on shares of UnitedHealth Group in a research note on Wednesday. Oppenheimer restated an “outperform” rating and set a $610.00 target price on shares of UnitedHealth Group in a research report on Wednesday, January 17th. Cantor Fitzgerald restated an “overweight” rating and set a $591.00 target price on shares of UnitedHealth Group in a research report on Wednesday, April 10th. Royal Bank of Canada cut their target price on shares of UnitedHealth Group from $596.00 to $555.00 and set an “outperform” rating for the company in a research report on Wednesday. Finally, Erste Group Bank restated a “hold” rating on shares of UnitedHealth Group in a research report on Wednesday, March 13th. Three investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. According to MarketBeat, UnitedHealth Group currently has an average rating of “Moderate Buy” and a consensus price target of $569.68.

Insider Buying and Selling

In related news, EVP Erin Mcsweeney sold 1,236 shares of the stock in a transaction dated Friday, March 8th. The shares were sold at an average price of $483.48, for a total value of $597,581.28. Following the sale, the executive vice president now owns 9,364 shares of the company’s stock, valued at approximately $4,527,306.72. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In related news, EVP Erin Mcsweeney sold 1,236 shares of the stock in a transaction dated Friday, March 8th. The shares were sold at an average price of $483.48, for a total value of $597,581.28. Following the sale, the executive vice president now owns 9,364 shares of the company’s stock, valued at approximately $4,527,306.72. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CAO Thomas E. Roos sold 858 shares of the firm’s stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $525.79, for a total transaction of $451,127.82. Following the transaction, the chief accounting officer now directly owns 32,289 shares in the company, valued at approximately $16,977,233.31. The disclosure for this sale can be found here. Corporate insiders own 0.35% of the company’s stock.

Hedge Funds Weigh In On UnitedHealth Group

Large investors have recently bought and sold shares of the stock. Axiom Financial Strategies LLC acquired a new position in shares of UnitedHealth Group in the 1st quarter worth approximately $210,000. McGowan Group Asset Management Inc. grew its stake in shares of UnitedHealth Group by 8.9% in the 1st quarter. McGowan Group Asset Management Inc. now owns 744 shares of the healthcare conglomerate’s stock worth $379,000 after purchasing an additional 61 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. grew its stake in shares of UnitedHealth Group by 31.8% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 250,196 shares of the healthcare conglomerate’s stock worth $127,592,000 after purchasing an additional 60,300 shares during the last quarter. MAS Advisors LLC grew its stake in shares of UnitedHealth Group by 10.8% in the 1st quarter. MAS Advisors LLC now owns 463 shares of the healthcare conglomerate’s stock worth $241,000 after purchasing an additional 45 shares during the last quarter. Finally, First Western Trust Bank acquired a new position in shares of UnitedHealth Group in the first quarter worth about $875,000. Institutional investors and hedge funds own 87.86% of the company’s stock.

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.