Covenant Partners LLC Purchases 27 Shares of UnitedHealth Group Incorporated (NYSE:UNH)

Covenant Partners LLC lifted its holdings in UnitedHealth Group Incorporated (NYSE:UNH) by 1.2% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,205 shares of the healthcare conglomerate’s stock after purchasing an additional 27 shares during the quarter. Covenant Partners LLC’s holdings in UnitedHealth Group were worth $1,289,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Kathleen S. Wright Associates Inc. acquired a new position in shares of UnitedHealth Group in the third quarter valued at about $27,000. Global Wealth Strategies & Associates increased 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 during the period. Macroview Investment Management LLC lifted its position in UnitedHealth Group by 671.4% during the second 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 during the period. West Financial Advisors LLC acquired a new stake in UnitedHealth Group during the 3rd quarter worth about $32,000. Finally, Delos Wealth Advisors LLC boosted its stake in shares of UnitedHealth Group by 757.1% in the first quarter. Delos Wealth Advisors LLC now owns 60 shares of the healthcare conglomerate’s stock worth $30,000 after buying an additional 53 shares during the last quarter. 87.86% of the stock is currently owned by hedge funds and other institutional investors.

UnitedHealth Group Price Performance

UnitedHealth Group stock opened at $564.56 on Friday. The business has a fifty day moving average of $583.52 and a two-hundred day moving average of $537.96. The company has a debt-to-equity ratio of 0.74, a quick ratio of 0.88 and a current ratio of 0.91. The company has a market cap of $521.33 billion, a P/E ratio of 36.78, a price-to-earnings-growth ratio of 1.67 and a beta of 0.58. UnitedHealth Group Incorporated has a one year low of $436.38 and a one year high of $608.63.

UnitedHealth Group (NYSE:UNH) last posted its quarterly earnings results on Tuesday, October 15th. The healthcare conglomerate reported $7.15 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $7.00 by $0.15. UnitedHealth Group had a net margin of 3.63% and a return on equity of 26.37%. The company had revenue of $100.82 billion during the quarter, compared to the consensus estimate of $99.14 billion. During the same period last year, the firm earned $6.56 EPS. The company’s revenue for the quarter was up 9.2% on a year-over-year basis. As a group, analysts predict that UnitedHealth Group Incorporated will post 27.61 earnings per share for the current fiscal year.

UnitedHealth Group Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 24th. Shareholders of record on Monday, September 16th were issued a dividend of $2.10 per share. The ex-dividend date was Monday, September 16th. This represents a $8.40 annualized dividend and a yield of 1.49%. UnitedHealth Group’s dividend payout ratio (DPR) is currently 54.72%.

Wall Street Analyst Weigh In

Several equities research analysts have commented on UNH shares. Truist Financial restated a “buy” rating and issued a $625.00 price objective (down previously from $640.00) on shares of UnitedHealth Group in a research report on Wednesday, October 16th. Cantor Fitzgerald lifted their price objective on UnitedHealth Group from $591.00 to $644.00 and gave the stock an “overweight” rating in a report on Wednesday, October 16th. Barclays lowered their price target on shares of UnitedHealth Group from $604.00 to $603.00 and set an “overweight” rating on the stock in a research report on Tuesday, October 22nd. StockNews.com downgraded UnitedHealth Group from a “buy” rating to a “hold” rating in a research note on Thursday. Finally, Argus raised their target price on UnitedHealth Group from $570.00 to $600.00 and gave the stock a “buy” rating in a research note on Wednesday, July 17th. Four 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 company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target 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.