UnitedHealth Group Incorporated (NYSE:UNH) Stake Boosted by MGB Wealth Management LLC

MGB Wealth Management LLC lifted its holdings in UnitedHealth Group Incorporated (NYSE:UNH) by 0.7% during the first quarter, HoldingsChannel reports. The institutional investor owned 3,937 shares of the healthcare conglomerate’s stock after purchasing an additional 29 shares during the period. MGB Wealth Management LLC’s holdings in UnitedHealth Group were worth $1,947,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. GUNN & Co INVESTMENT MANAGEMENT INC. acquired a new position in shares of UnitedHealth Group during the third quarter valued at $3,426,000. Invst LLC boosted its position in shares of UnitedHealth Group by 2.9% during the third quarter. Invst LLC now owns 1,252 shares of the healthcare conglomerate’s stock worth $631,000 after buying an additional 35 shares during the period. Dakota Community Bank & Trust NA boosted its position in UnitedHealth Group by 7.1% during the 3rd quarter. Dakota Community Bank & Trust NA now owns 332 shares of the healthcare conglomerate’s stock worth $167,000 after acquiring an additional 22 shares during the period. Quantum Financial Advisors LLC increased its holdings in shares of UnitedHealth Group by 10.4% during the third quarter. Quantum Financial Advisors LLC now owns 1,688 shares of the healthcare conglomerate’s stock valued at $851,000 after purchasing an additional 159 shares during the period. Finally, Modera Wealth Management LLC lifted its holdings in UnitedHealth Group by 4.3% in the third quarter. Modera Wealth Management LLC now owns 39,737 shares of the healthcare conglomerate’s stock worth $20,035,000 after purchasing an additional 1,646 shares during the period. Institutional investors and hedge funds own 87.86% of the company’s stock.

UnitedHealth Group Stock Up 1.3 %

Shares of UNH traded up $6.59 during trading hours on Friday, reaching $510.95. The company’s stock had a trading volume of 1,178,336 shares, compared to its average volume of 4,218,894. The company has a 50 day moving average of $499.20 and a two-hundred day moving average of $500.05. UnitedHealth Group Incorporated has a 1-year low of $436.38 and a 1-year high of $554.70. The firm has a market cap of $470.27 billion, a price-to-earnings ratio of 30.93, a P/E/G ratio of 1.47 and a beta of 0.60. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.69.

UnitedHealth Group (NYSE:UNH) last issued its earnings results on Tuesday, April 16th. The healthcare conglomerate reported $6.91 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $6.63 by $0.28. UnitedHealth Group had a net margin of 4.05% and a return on equity of 26.50%. The company had revenue of $99.80 billion during the quarter, compared to analyst estimates of $99.23 billion. During the same quarter last year, the business posted $6.26 EPS. The company’s revenue for the quarter was up 8.6% on a year-over-year basis. As a group, research analysts predict that UnitedHealth Group Incorporated will post 27.55 EPS for the current fiscal year.

UnitedHealth Group Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 25th. Investors of record on Monday, June 17th were issued a $2.10 dividend. The ex-dividend date was Monday, June 17th. This represents a $8.40 dividend on an annualized basis and a yield of 1.64%. This is an increase from UnitedHealth Group’s previous quarterly dividend of $1.88. UnitedHealth Group’s dividend payout ratio is currently 51.34%.

Analyst Ratings Changes

A number of analysts have recently weighed in on the stock. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $591.00 price target on shares of UnitedHealth Group in a research note on Tuesday. Royal Bank of Canada lowered their price target on UnitedHealth Group from $596.00 to $555.00 and set an “outperform” rating on the stock in a research report on Wednesday, April 17th. Barclays raised their target price on UnitedHealth Group from $534.00 to $560.00 and gave the company an “overweight” rating in a research note on Wednesday, April 17th. Truist Financial restated a “buy” rating and set a $600.00 price objective on shares of UnitedHealth Group in a research report on Wednesday, April 17th. Finally, StockNews.com raised shares of UnitedHealth Group from a “hold” rating to a “buy” rating in a research note on Wednesday. Two equities research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, UnitedHealth Group presently has a consensus rating of “Moderate Buy” and a consensus target price of $581.44.

UnitedHealth Group Profile

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.