Everence Capital Management Inc. Takes Position in UnitedHealth Group Incorporated (NYSE:UNH)

Everence Capital Management Inc. acquired a new stake in shares of UnitedHealth Group Incorporated (NYSE:UNH) in the 1st quarter, HoldingsChannel.com reports. The institutional investor acquired 21,200 shares of the healthcare conglomerate’s stock, valued at approximately $7,888,000. UnitedHealth Group comprises approximately 0.7% of Everence Capital Management Inc.’s holdings, making the stock its 22nd largest position.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Carroll Financial Associates Inc. increased its position in UnitedHealth Group by 0.9% in the fourth quarter. Carroll Financial Associates Inc. now owns 3,200 shares of the healthcare conglomerate’s stock worth $1,122,000 after buying an additional 30 shares in the last quarter. Harfst & Associates Inc. increased its position in UnitedHealth Group by 1.2% in the fourth quarter. Harfst & Associates Inc. now owns 2,565 shares of the healthcare conglomerate’s stock worth $899,000 after buying an additional 31 shares in the last quarter. Harvest Group Wealth Management LLC increased its position in UnitedHealth Group by 13.3% in the fourth quarter. Harvest Group Wealth Management LLC now owns 264 shares of the healthcare conglomerate’s stock worth $93,000 after buying an additional 31 shares in the last quarter. South State CORP. increased its position in UnitedHealth Group by 0.6% in the fourth quarter. South State CORP. now owns 5,008 shares of the healthcare conglomerate’s stock worth $1,757,000 after buying an additional 32 shares in the last quarter. Finally, Private Portfolio Partners LLC increased its position in UnitedHealth Group by 2.0% in the fourth quarter. Private Portfolio Partners LLC now owns 1,661 shares of the healthcare conglomerate’s stock worth $582,000 after buying an additional 32 shares in the last quarter. Hedge funds and other institutional investors own 86.03% of the company’s stock.

UNH has been the subject of a number of recent analyst reports. SVB Leerink upped their price objective on UnitedHealth Group from $378.00 to $390.00 and gave the stock an “outperform” rating in a research note on Monday, December 14th. Bank of America reaffirmed a “buy” rating and issued a $415.00 price objective on shares of UnitedHealth Group in a research note on Thursday, January 21st. Truist upped their price objective on UnitedHealth Group from $400.00 to $420.00 in a research note on Tuesday, January 5th. Deutsche Bank Aktiengesellschaft upped their price objective on UnitedHealth Group from $404.00 to $409.00 and gave the stock a “buy” rating in a research note on Thursday, January 21st. Finally, Barclays reissued a “buy” rating and set a $405.00 price target on shares of UnitedHealth Group in a research note on Sunday, January 17th. Five investment analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the company. The stock has an average rating of “Buy” and an average price target of $387.82.

In other news, Director Richard T. Burke sold 5,000 shares of the stock in a transaction that occurred on Thursday, February 11th. The stock was sold at an average price of $335.80, for a total value of $1,679,000.00. Following the sale, the director now directly owns 153,953 shares in the company, valued at $51,697,417.40. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CAO Thomas E. Roos sold 619 shares of the stock in a transaction that occurred on Tuesday, February 9th. The stock was sold at an average price of $323.90, for a total value of $200,494.10. Following the completion of the sale, the chief accounting officer now owns 31,908 shares in the company, valued at $10,335,001.20. The disclosure for this sale can be found here. Over the last quarter, insiders sold 9,619 shares of company stock worth $3,292,774. Company insiders own 0.80% of the company’s stock.

Shares of NYSE:UNH traded down $0.94 during trading on Thursday, hitting $364.70. The company had a trading volume of 42,608 shares, compared to its average volume of 3,420,935. The stock has a market cap of $344.76 billion, a price-to-earnings ratio of 20.96, a price-to-earnings-growth ratio of 1.55 and a beta of 0.74. UnitedHealth Group Incorporated has a one year low of $246.26 and a one year high of $380.50. The company has a fifty day simple moving average of $351.44 and a two-hundred day simple moving average of $339.34. The company has a debt-to-equity ratio of 0.59, a current ratio of 0.82 and a quick ratio of 0.82.

UnitedHealth Group (NYSE:UNH) last posted its quarterly earnings data on Tuesday, January 19th. The healthcare conglomerate reported $2.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.39 by $0.13. UnitedHealth Group had a return on equity of 27.53% and a net margin of 6.62%. The business had revenue of $65.47 billion during the quarter, compared to analyst estimates of $64.98 billion. During the same period last year, the company earned $3.90 EPS. The company’s revenue for the quarter was up 7.5% on a year-over-year basis. On average, equities research analysts anticipate that UnitedHealth Group Incorporated will post 16.75 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 23rd. Stockholders of record on Monday, March 15th were issued a $1.25 dividend. The ex-dividend date of this dividend was Friday, March 12th. This represents a $5.00 annualized dividend and a dividend yield of 1.37%. UnitedHealth Group’s payout ratio is 33.09%.

UnitedHealth Group Company Profile

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; Medicaid plans, Children's Health Insurance Program, and health care programs; medical and dental benefits; and health care delivery.

See Also: Why do earnings reports matter?

Want to see what other hedge funds are holding UNH? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for UnitedHealth Group Incorporated (NYSE:UNH).

Institutional Ownership by Quarter for UnitedHealth Group (NYSE:UNH)

Receive News & Ratings for UnitedHealth Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for UnitedHealth Group and related companies with MarketBeat.com's FREE daily email newsletter.