UnitedHealth Group Incorporated (NYSE:UNH) Shares Sold by Covenant Asset Management LLC

Covenant Asset Management LLC trimmed its holdings in shares of UnitedHealth Group Incorporated (NYSE:UNH) by 1.3% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 8,009 shares of the healthcare conglomerate’s stock after selling 103 shares during the quarter. UnitedHealth Group accounts for approximately 0.7% of Covenant Asset Management LLC’s portfolio, making the stock its 25th biggest position. Covenant Asset Management LLC’s holdings in UnitedHealth Group were worth $4,683,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Allen Capital Group LLC boosted its holdings in UnitedHealth Group by 2.9% during the 3rd quarter. Allen Capital Group LLC now owns 10,337 shares of the healthcare conglomerate’s stock valued at $6,044,000 after acquiring an additional 291 shares during the period. Biltmore Family Office LLC boosted its holdings in UnitedHealth Group by 32.0% during the 3rd quarter. Biltmore Family Office LLC now owns 735 shares of the healthcare conglomerate’s stock valued at $430,000 after acquiring an additional 178 shares during the period. CFS Investment Advisory Services LLC boosted its holdings in UnitedHealth Group by 12.1% during the 3rd quarter. CFS Investment Advisory Services LLC now owns 2,517 shares of the healthcare conglomerate’s stock valued at $1,472,000 after acquiring an additional 272 shares during the period. Raymond James Trust N.A. boosted its holdings in UnitedHealth Group by 3.5% during the 3rd quarter. Raymond James Trust N.A. now owns 72,401 shares of the healthcare conglomerate’s stock valued at $42,331,000 after acquiring an additional 2,475 shares during the period. Finally, AlphaCore Capital LLC boosted its stake in shares of UnitedHealth Group by 28.7% in the 3rd quarter. AlphaCore Capital LLC now owns 606 shares of the healthcare conglomerate’s stock valued at $354,000 after buying an additional 135 shares during the period. 87.86% of the stock is owned by institutional investors and hedge funds.

UnitedHealth Group Stock Down 0.5 %

UNH opened at $597.56 on Friday. The business’s fifty day moving average is $582.70 and its two-hundred day moving average is $551.92. The company has a debt-to-equity ratio of 0.74, a quick ratio of 0.91 and a current ratio of 0.91. The company has a market cap of $549.92 billion, a price-to-earnings ratio of 38.93, a PEG ratio of 1.69 and a beta of 0.58. UnitedHealth Group Incorporated has a one year low of $436.38 and a one year high of $630.73.

UnitedHealth Group (NYSE:UNH) last posted its earnings results on Tuesday, October 15th. The healthcare conglomerate reported $7.15 EPS for the quarter, topping analysts’ consensus estimates of $7.00 by $0.15. UnitedHealth Group had a return on equity of 26.37% and a net margin of 3.63%. The company had revenue of $100.82 billion for the quarter, compared to the consensus estimate of $99.14 billion. During the same period in the previous year, the business earned $6.56 earnings per share. UnitedHealth Group’s quarterly revenue was up 9.2% compared to the same quarter last year. Analysts anticipate that UnitedHealth Group Incorporated will post 27.6 EPS for the current fiscal year.

UnitedHealth Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 17th. Stockholders of record on Monday, December 9th will be given a $2.10 dividend. The ex-dividend date of this dividend is Monday, December 9th. This represents a $8.40 annualized dividend and a dividend yield of 1.41%. UnitedHealth Group’s dividend payout ratio is currently 54.72%.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the company. HSBC cut UnitedHealth Group from a “buy” rating to a “hold” rating in a research note on Thursday, October 17th. Truist Financial reaffirmed a “buy” rating and set a $625.00 price target (down previously from $640.00) on shares of UnitedHealth Group in a research report on Wednesday, October 16th. UBS Group dropped their target price on UnitedHealth Group from $680.00 to $650.00 and set a “buy” rating on the stock in a report on Wednesday, October 16th. TD Cowen boosted their target price on UnitedHealth Group from $601.00 to $609.00 and gave the company a “buy” rating in a report on Friday, October 18th. Finally, Barclays dropped their target price on UnitedHealth Group from $604.00 to $603.00 and set an “overweight” rating on the stock in a report on Tuesday, October 22nd. Four equities research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, UnitedHealth Group has a consensus rating of “Moderate Buy” and a consensus target price of $615.53.

UnitedHealth Group Company 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.