Precedent Wealth Partners LLC Purchases New Stake in UnitedHealth Group Incorporated (NYSE:UNH)

Precedent Wealth Partners LLC bought a new stake in UnitedHealth Group Incorporated (NYSE:UNH) during the third quarter, HoldingsChannel.com reports. The fund bought 1,791 shares of the healthcare conglomerate’s stock, valued at approximately $1,047,000.

A number of other institutional investors have also recently added to or reduced their stakes in UNH. Kathleen S. Wright Associates Inc. acquired a new position in UnitedHealth Group during the 3rd quarter worth approximately $27,000. Macroview Investment Management LLC grew its holdings in UnitedHealth Group by 671.4% during the 2nd quarter. Macroview Investment Management LLC now owns 54 shares of the healthcare conglomerate’s stock valued at $28,000 after purchasing an additional 47 shares in the last quarter. Delos Wealth Advisors LLC lifted its holdings in UnitedHealth Group by 757.1% in the 1st quarter. Delos Wealth Advisors LLC now owns 60 shares of the healthcare conglomerate’s stock worth $30,000 after buying an additional 53 shares in the last quarter. Bbjs Financial Advisors LLC acquired a new stake in shares of UnitedHealth Group during the second quarter valued at about $31,000. Finally, Global Wealth Strategies & Associates lifted its stake in shares of UnitedHealth Group by 152.4% in the third quarter. Global Wealth Strategies & Associates now owns 53 shares of the healthcare conglomerate’s stock worth $31,000 after acquiring an additional 32 shares in the last quarter. 87.86% of the stock is owned by hedge funds and other institutional investors.

UnitedHealth Group Trading Up 0.6 %

Shares of UNH stock opened at $569.61 on Friday. UnitedHealth Group Incorporated has a 1 year low of $436.38 and a 1 year high of $608.63. The stock has a fifty day moving average of $584.42 and a two-hundred day moving average of $533.63. The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.88 and a current ratio of 0.88. The firm has a market capitalization of $525.99 billion, a PE ratio of 37.77, a price-to-earnings-growth ratio of 1.69 and a beta of 0.58.

UnitedHealth Group (NYSE:UNH) last released its quarterly 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 net margin of 3.66% and a return on equity of 26.55%. 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 firm earned $6.56 EPS. UnitedHealth Group’s revenue was up 9.2% on a year-over-year basis. As a group, research analysts expect that UnitedHealth Group Incorporated will post 27.68 EPS for the current year.

UnitedHealth Group Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 24th. Investors of record on Monday, September 16th were paid 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 yield of 1.47%. UnitedHealth Group’s dividend payout ratio is currently 55.70%.

Analysts Set New Price Targets

UNH has been the subject of a number of recent analyst reports. HSBC downgraded shares of UnitedHealth Group from a “buy” rating to a “hold” rating in a research report on Thursday. Robert W. Baird upped their target price on shares of UnitedHealth Group from $597.00 to $640.00 and gave the company an “outperform” rating in a research note on Wednesday, July 17th. Argus lifted their price target on UnitedHealth Group from $570.00 to $600.00 and gave the stock a “buy” rating in a research note on Wednesday, July 17th. Royal Bank of Canada reduced their target price on UnitedHealth Group from $615.00 to $595.00 and set an “outperform” rating on the stock in a report on Wednesday. Finally, Truist Financial reissued a “buy” rating and set a $625.00 price target (down from $640.00) on shares of UnitedHealth Group in a research report on Wednesday. Two research analysts have rated the stock with a hold rating, eighteen have given a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, UnitedHealth Group presently has an average rating of “Buy” and an average target price of $615.58.

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.