FormulaFolio Investments LLC Trims Stake in UnitedHealth Group Inc (NYSE:UNH)
FormulaFolio Investments LLC lowered its stake in UnitedHealth Group Inc (NYSE:UNH) by 6.9% during the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 2,672 shares of the healthcare conglomerate’s stock after selling 198 shares during the quarter. FormulaFolio Investments LLC’s holdings in UnitedHealth Group were worth $833,000 as of its most recent filing with the SEC.
Other hedge funds also recently bought and sold shares of the company. Old North State Trust LLC acquired a new position in UnitedHealth Group in the 3rd quarter valued at $39,000. Exchange Traded Concepts LLC raised its holdings in UnitedHealth Group by 140.0% in the 2nd quarter. Exchange Traded Concepts LLC now owns 132 shares of the healthcare conglomerate’s stock valued at $39,000 after acquiring an additional 77 shares during the last quarter. Modus Advisors LLC acquired a new position in UnitedHealth Group in the 2nd quarter valued at $62,000. Norway Savings Bank raised its holdings in UnitedHealth Group by 437.5% in the 3rd quarter. Norway Savings Bank now owns 215 shares of the healthcare conglomerate’s stock valued at $67,000 after acquiring an additional 175 shares during the last quarter. Finally, North Star Investment Management Corp. raised its holdings in UnitedHealth Group by 500.0% in the 2nd quarter. North Star Investment Management Corp. now owns 264 shares of the healthcare conglomerate’s stock valued at $78,000 after acquiring an additional 220 shares during the last quarter. 86.39% of the stock is currently owned by hedge funds and other institutional investors.
Shares of NYSE UNH opened at $329.90 on Friday. UnitedHealth Group Inc has a 12-month low of $187.72 and a 12-month high of $333.70. The company has a market cap of $313.52 billion, a P/E ratio of 18.55, a P/E/G ratio of 1.44 and a beta of 0.68. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 0.60. The stock has a fifty day moving average price of $311.35 and a 200 day moving average price of $297.69.
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 22nd. Shareholders of record on Monday, September 14th were given a $1.25 dividend. The ex-dividend date was Friday, September 11th. This represents a $5.00 dividend on an annualized basis and a yield of 1.52%. UnitedHealth Group’s payout ratio is currently 33.09%.
In other UnitedHealth Group news, EVP Marianne D. Short sold 10,336 shares of the company’s stock in a transaction dated Friday, August 28th. The shares were sold at an average price of $312.34, for a total value of $3,228,346.24. Also, EVP Marianne D. Short sold 12,000 shares of the stock in a transaction dated Tuesday, August 11th. The stock was sold at an average price of $321.34, for a total transaction of $3,856,080.00. Following the transaction, the executive vice president now directly owns 140,885 shares in the company, valued at approximately $45,271,985.90. The disclosure for this sale can be found here. Over the last three months, insiders sold 47,336 shares of company stock valued at $14,928,276. 0.80% of the stock is currently owned by corporate insiders.
UNH has been the subject of several analyst reports. Raymond James boosted their price target on UnitedHealth Group from $350.00 to $355.00 and gave the company a “strong-buy” rating in a report on Thursday. SVB Leerink boosted their price target on UnitedHealth Group from $370.00 to $373.00 and gave the company an “outperform” rating in a report on Thursday. Credit Suisse Group set a $335.00 price target on UnitedHealth Group and gave the company a “buy” rating in a report on Wednesday. ValuEngine upgraded UnitedHealth Group from a “sell” rating to a “hold” rating in a report on Thursday, October 1st. Finally, Piper Sandler upped their price objective on UnitedHealth Group from $350.00 to $385.00 and gave the stock an “overweight” rating in a report on Thursday. Four equities research analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and one has given a strong buy rating to the company’s stock. UnitedHealth Group currently has a consensus rating of “Buy” and an average target price of $346.68.
About UnitedHealth Group
UnitedHealth Group Incorporated operates as a diversified health care company in the United States. It operates through four segments: UnitedHealthcare, OptumHealth, OptumInsight, and OptumRx. 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 and well-being services to individuals age 50 and older, addressing their needs for preventive and acute health care services, as well as services dealing with chronic disease and other specialized issues for older individuals; and Medicaid plans, Children's Health Insurance Program, and health care programs; and health and dental benefits.
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