Meadowbrook Advisors Group LLC boosted its holdings in UnitedHealth Group Incorporated (NYSE:UNH – Free Report) by 23.8% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 8,988 shares of the healthcare conglomerate’s stock after purchasing an additional 1,730 shares during the quarter. UnitedHealth Group makes up approximately 1.4% of Meadowbrook Advisors Group LLC’s holdings, making the stock its 17th biggest position. Meadowbrook Advisors Group LLC’s holdings in UnitedHealth Group were worth $2,432,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently modified their holdings of UNH. Vaughan Nelson Investment Management L.P. purchased a new position in UnitedHealth Group during the first quarter valued at $725,000. CWC Advisors LLC. lifted its stake in UnitedHealth Group by 3.8% in the 1st quarter. CWC Advisors LLC. now owns 7,221 shares of the healthcare conglomerate’s stock worth $1,954,000 after purchasing an additional 264 shares in the last quarter. Balboa Wealth Partners grew its position in shares of UnitedHealth Group by 5.8% during the first quarter. Balboa Wealth Partners now owns 915 shares of the healthcare conglomerate’s stock valued at $248,000 after purchasing an additional 50 shares in the last quarter. Lincoln Capital Corp lifted its position in shares of UnitedHealth Group by 27.2% in the first quarter. Lincoln Capital Corp now owns 4,692 shares of the healthcare conglomerate’s stock worth $1,270,000 after buying an additional 1,004 shares in the last quarter. Finally, Strong Tower Advisory Services grew its holdings in UnitedHealth Group by 48.2% during the 1st quarter. Strong Tower Advisory Services now owns 44,613 shares of the healthcare conglomerate’s stock valued at $12,072,000 after buying an additional 14,507 shares in the last quarter. Institutional investors own 87.86% of the company’s stock.
UnitedHealth Group Price Performance
UnitedHealth Group stock opened at $400.86 on Monday. The firm has a market capitalization of $364.04 billion, a PE ratio of 30.28, a price-to-earnings-growth ratio of 1.61 and a beta of 0.64. UnitedHealth Group Incorporated has a 12-month low of $234.60 and a 12-month high of $415.98. The firm has a 50-day moving average price of $373.69 and a 200-day moving average price of $329.60. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 0.69.
UnitedHealth Group Increases Dividend
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 23rd. Stockholders of record on Monday, June 15th will be given a dividend of $2.32 per share. This represents a $9.28 annualized dividend and a dividend yield of 2.3%. This is a positive change from UnitedHealth Group’s previous quarterly dividend of $2.21. The ex-dividend date is Monday, June 15th. UnitedHealth Group’s dividend payout ratio is 70.09%.
Insider Activity
In other news, CEO Patrick Hugh Conway sold 800 shares of the company’s stock in a transaction dated Thursday, April 23rd. The shares were sold at an average price of $355.00, for a total value of $284,000.00. Following the transaction, the chief executive officer directly owned 17,805 shares in the company, valued at approximately $6,320,775. This represents a 4.30% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 0.28% of the company’s stock.
Wall Street Analysts Forecast Growth
UNH has been the subject of a number of research reports. UBS Group increased their target price on UnitedHealth Group from $410.00 to $460.00 and gave the company a “buy” rating in a research report on Friday, May 22nd. Mizuho increased their price objective on shares of UnitedHealth Group from $440.00 to $460.00 and gave the company an “outperform” rating in a research report on Monday, June 8th. HC Wainwright set a $492.00 target price on shares of UnitedHealth Group in a report on Wednesday, May 27th. TD Cowen lifted their price target on UnitedHealth Group from $311.00 to $337.00 and gave the stock a “hold” rating in a research report on Thursday, April 23rd. Finally, Cantor Fitzgerald restated an “overweight” rating on shares of UnitedHealth Group in a research report on Thursday, June 11th. One research analyst has rated the stock with a Strong Buy rating, twenty have assigned a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $409.75.
View Our Latest Stock Report on UNH
UnitedHealth Group 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.
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