Waterfront Wealth Inc. Sells 68 Shares of UnitedHealth Group Incorporated $UNH

Waterfront Wealth Inc. trimmed its holdings in UnitedHealth Group Incorporated (NYSE:UNH) by 2.5% in the 2nd quarter, Holdings Channel reports. The fund owned 2,621 shares of the healthcare conglomerate’s stock after selling 68 shares during the quarter. Waterfront Wealth Inc.’s holdings in UnitedHealth Group were worth $818,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of the business. Mayflower Financial Advisors LLC boosted its position in shares of UnitedHealth Group by 29.1% in the second quarter. Mayflower Financial Advisors LLC now owns 5,259 shares of the healthcare conglomerate’s stock valued at $1,641,000 after acquiring an additional 1,184 shares during the period. Quaker Wealth Management LLC raised its stake in shares of UnitedHealth Group by 431.9% in the second quarter. Quaker Wealth Management LLC now owns 760 shares of the healthcare conglomerate’s stock valued at $237,000 after purchasing an additional 989 shares in the last quarter. Bank of Jackson Hole Trust raised its stake in shares of UnitedHealth Group by 4.9% in the second quarter. Bank of Jackson Hole Trust now owns 2,922 shares of the healthcare conglomerate’s stock valued at $912,000 after purchasing an additional 137 shares in the last quarter. Mendel Money Management raised its stake in shares of UnitedHealth Group by 58.3% in the second quarter. Mendel Money Management now owns 5,105 shares of the healthcare conglomerate’s stock valued at $1,593,000 after purchasing an additional 1,881 shares in the last quarter. Finally, Strategic Financial Services Inc. raised its stake in shares of UnitedHealth Group by 2.2% in the second quarter. Strategic Financial Services Inc. now owns 5,580 shares of the healthcare conglomerate’s stock valued at $1,741,000 after purchasing an additional 120 shares in the last quarter. 87.86% of the stock is owned by institutional investors.

UnitedHealth Group Price Performance

UnitedHealth Group stock opened at $356.05 on Thursday. The business’s 50-day simple moving average is $342.00 and its 200 day simple moving average is $331.00. The stock has a market cap of $322.47 billion, a price-to-earnings ratio of 18.58, a P/E/G ratio of 2.37 and a beta of 0.47. UnitedHealth Group Incorporated has a 12-month low of $234.60 and a 12-month high of $630.73. The company has a quick ratio of 0.85, a current ratio of 0.82 and a debt-to-equity ratio of 0.71.

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

UnitedHealth Group Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 23rd. Shareholders of record on Monday, September 15th were issued a dividend of $2.21 per share. The ex-dividend date was Monday, September 15th. This represents a $8.84 dividend on an annualized basis and a yield of 2.5%. UnitedHealth Group’s dividend payout ratio (DPR) is 38.30%.

Wall Street Analysts Forecast Growth

UNH has been the subject of a number of recent research reports. Piper Sandler cut their target price on UnitedHealth Group from $423.00 to $417.00 and set an “overweight” rating for the company in a research note on Tuesday. KeyCorp increased their price objective on UnitedHealth Group from $350.00 to $400.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 8th. Jefferies Financial Group increased their price objective on UnitedHealth Group from $317.00 to $409.00 and gave the stock a “buy” rating in a research note on Friday, October 17th. Leerink Partners set a $410.00 price objective on UnitedHealth Group and gave the stock an “outperform” rating in a research note on Wednesday. Finally, Morgan Stanley increased their price objective on UnitedHealth Group from $325.00 to $395.00 and gave the stock an “overweight” rating in a research note on Friday, September 12th. Eighteen equities research analysts have rated the stock with a Buy rating, nine have given a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat.com, UnitedHealth Group presently has a consensus rating of “Moderate Buy” and an average target price of $395.64.

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.