Bank of New York Mellon Corp Buys 35,533 Shares of UnitedHealth Group Incorporated (NYSE:UNH)

Bank of New York Mellon Corp boosted its position in UnitedHealth Group Incorporated (NYSE:UNH) by 0.4% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 8,039,601 shares of the healthcare conglomerate’s stock after acquiring an additional 35,533 shares during the period. UnitedHealth Group accounts for 0.8% of Bank of New York Mellon Corp’s portfolio, making the stock its 16th largest position. Bank of New York Mellon Corp owned 0.87% of UnitedHealth Group worth $4,094,247,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in UNH. Signature Resources Capital Management LLC raised its position in shares of UnitedHealth Group by 40.0% during the second quarter. Signature Resources Capital Management LLC now owns 63 shares of the healthcare conglomerate’s stock worth $32,000 after purchasing an additional 18 shares during the period. Continuum Advisory LLC raised its position in UnitedHealth Group by 0.6% in the 2nd quarter. Continuum Advisory LLC now owns 3,410 shares of the healthcare conglomerate’s stock valued at $1,737,000 after buying an additional 19 shares during the last quarter. Veracity Capital LLC raised its position in UnitedHealth Group by 1.5% in the 1st quarter. Veracity Capital LLC now owns 1,335 shares of the healthcare conglomerate’s stock valued at $660,000 after buying an additional 20 shares during the last quarter. Rodgers Brothers Inc. grew its stake in UnitedHealth Group by 2.4% in the first quarter. Rodgers Brothers Inc. now owns 842 shares of the healthcare conglomerate’s stock valued at $417,000 after purchasing an additional 20 shares in the last quarter. Finally, Aprio Wealth Management LLC boosted its stake in shares of UnitedHealth Group by 2.1% during the 2nd quarter. Aprio Wealth Management LLC now owns 975 shares of the healthcare conglomerate’s stock worth $497,000 after acquiring an additional 20 shares during the period. Institutional investors and hedge funds own 87.86% of the company’s stock.

Analyst Ratings Changes

Several research firms recently weighed in on UNH. Baird R W raised UnitedHealth Group to a “strong-buy” rating in a report on Thursday, May 30th. Barclays boosted their price objective on UnitedHealth Group from $560.00 to $604.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 17th. StockNews.com upgraded UnitedHealth Group from a “hold” rating to a “buy” rating in a research report on Wednesday, August 21st. Truist Financial upped their target price on UnitedHealth Group from $600.00 to $640.00 and gave the company a “buy” rating in a research report on Wednesday, July 17th. Finally, Cantor Fitzgerald restated an “overweight” rating and set a $591.00 target price on shares of UnitedHealth Group in a research report on Monday, August 19th. One research analyst has rated the stock with a hold rating, nineteen have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Buy” and an average price target of $614.17.

UnitedHealth Group Trading Up 0.3 %

Shares of NYSE UNH traded up $1.96 during midday trading on Monday, reaching $586.47. The company had a trading volume of 1,077,933 shares, compared to its average volume of 4,147,061. UnitedHealth Group Incorporated has a one year low of $436.38 and a one year high of $592.09. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 0.67. The firm’s fifty day moving average price is $537.83 and its 200-day moving average price is $509.89. The stock has a market cap of $541.56 billion, a PE ratio of 36.10, a price-to-earnings-growth ratio of 1.61 and a beta of 0.59.

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

UnitedHealth Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 24th. Shareholders of record on Monday, September 16th will be issued a dividend of $2.10 per share. The ex-dividend date of this dividend is Monday, September 16th. This represents a $8.40 dividend on an annualized basis and a dividend yield of 1.43%. UnitedHealth Group’s dividend payout ratio (DPR) is 51.34%.

Insiders Place Their Bets

In related news, EVP Erin Mcsweeney sold 1,500 shares of the company’s stock in a transaction that occurred on Thursday, July 18th. The stock was sold at an average price of $579.03, for a total value of $868,545.00. Following the sale, the executive vice president now owns 7,785 shares in the company, valued at approximately $4,507,748.55. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, EVP Erin Mcsweeney sold 1,500 shares of the company’s stock in a transaction that occurred on Thursday, July 18th. The stock was sold at an average price of $579.03, for a total value of $868,545.00. Following the sale, the executive vice president now owns 7,785 shares in the company, valued at approximately $4,507,748.55. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Thomas E. Roos sold 2,851 shares of the company’s stock in a transaction that occurred on Wednesday, July 17th. The shares were sold at an average price of $569.88, for a total value of $1,624,727.88. Following the completion of the transaction, the chief accounting officer now directly owns 29,501 shares in the company, valued at $16,812,029.88. The disclosure for this sale can be found here. Company insiders own 0.33% of the company’s stock.

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.