Keystone Wealth Services LLC Invests $326,000 in UnitedHealth Group Incorporated (NYSE:UNH)

Keystone Wealth Services LLC purchased a new position in shares of UnitedHealth Group Incorporated (NYSE:UNH) in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 557 shares of the healthcare conglomerate’s stock, valued at approximately $326,000.

A number of other hedge funds and other institutional investors have also modified their holdings of UNH. Swedbank AB purchased a new stake in shares of UnitedHealth Group during the first quarter worth about $1,117,462,000. Mitsubishi UFJ Asset Management Co. Ltd. grew its holdings in UnitedHealth Group by 107.8% in the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 2,306,729 shares of the healthcare conglomerate’s stock valued at $1,141,113,000 after purchasing an additional 1,196,758 shares during the period. Lone Pine Capital LLC purchased a new stake in UnitedHealth Group in the second quarter valued at approximately $480,903,000. Dimensional Fund Advisors LP grew its holdings in UnitedHealth Group by 30.0% in the second quarter. Dimensional Fund Advisors LP now owns 3,816,254 shares of the healthcare conglomerate’s stock valued at $1,942,956,000 after purchasing an additional 880,183 shares during the period. Finally, Baillie Gifford & Co. grew its holdings in UnitedHealth Group by 1,125.4% in the second quarter. Baillie Gifford & Co. now owns 894,006 shares of the healthcare conglomerate’s stock valued at $455,281,000 after purchasing an additional 821,050 shares during the period. 87.86% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts have weighed in on the stock. Jefferies Financial Group raised shares of UnitedHealth Group from a “hold” rating to a “buy” rating and lifted their price target for the company from $481.00 to $647.00 in a research report on Wednesday, July 17th. HSBC lifted their price target on shares of UnitedHealth Group from $580.00 to $610.00 in a research report on Thursday, July 18th. Royal Bank of Canada lifted their price target on shares of UnitedHealth Group from $555.00 to $615.00 and gave the company an “outperform” rating in a research report on Wednesday, July 17th. Argus lifted their price target on shares of UnitedHealth Group from $570.00 to $600.00 and gave the company a “buy” rating in a research report on Wednesday, July 17th. Finally, Truist Financial boosted their target price on shares of UnitedHealth Group from $600.00 to $640.00 and gave the stock a “buy” rating in a research report on Wednesday, July 17th. Two equities research analysts have rated the stock with a hold rating, eighteen have given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Buy” and an average target price of $617.37.

Insider Transactions at UnitedHealth Group

In related news, EVP Erin Mcsweeney sold 1,500 shares of the company’s stock in a transaction dated Thursday, July 18th. The shares were sold at an average price of $579.03, for a total value of $868,545.00. Following the completion of the sale, the executive vice president now owns 7,785 shares of the company’s stock, valued at $4,507,748.55. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 0.33% of the company’s stock.

UnitedHealth Group Stock Down 8.4 %

UNH stock opened at $554.45 on Wednesday. The company has a debt-to-equity ratio of 0.67, a current ratio of 0.88 and a quick ratio of 0.88. UnitedHealth Group Incorporated has a 1-year low of $436.38 and a 1-year high of $608.63. The firm has a fifty day moving average price of $584.11 and a two-hundred day moving average price of $532.57. The firm has a market cap of $510.31 billion, a price-to-earnings ratio of 33.89, a PEG ratio of 1.66 and a beta of 0.58.

UnitedHealth Group (NYSE:UNH) last released its earnings results on Tuesday, July 16th. The healthcare conglomerate reported $6.80 earnings per share for the quarter, beating the consensus estimate of $6.66 by $0.14. UnitedHealth Group had a net margin of 3.66% and a return on equity of 26.55%. The firm had revenue of $98.86 billion during the quarter, compared to analyst estimates of $98.73 billion. During the same quarter in the previous year, the firm earned $6.14 earnings per share. The firm’s revenue for the quarter was up 6.4% compared to the same quarter last year. Research analysts predict that UnitedHealth Group Incorporated will post 27.69 EPS for the current year.

UnitedHealth Group Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 24th. Stockholders of record on Monday, September 16th were given a dividend of $2.10 per share. The ex-dividend date of this dividend was Monday, September 16th. This represents a $8.40 annualized dividend and a dividend yield of 1.52%. UnitedHealth Group’s dividend payout ratio is currently 51.34%.

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.