Pallas Capital Advisors LLC Grows Position in UnitedHealth Group Incorporated (NYSE:UNH)

Pallas Capital Advisors LLC boosted its position in shares of UnitedHealth Group Incorporated (NYSE:UNH) by 4.3% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 20,750 shares of the healthcare conglomerate’s stock after acquiring an additional 861 shares during the quarter. Pallas Capital Advisors LLC’s holdings in UnitedHealth Group were worth $11,710,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. True Wealth Design LLC acquired a new stake in UnitedHealth Group in the 4th quarter valued at about $31,000. Delos Wealth Advisors LLC raised its position in shares of UnitedHealth Group by 757.1% during the 1st quarter. Delos Wealth Advisors LLC now owns 60 shares of the healthcare conglomerate’s stock worth $30,000 after acquiring an additional 53 shares in the last quarter. Bbjs Financial Advisors LLC acquired a new stake in shares of UnitedHealth Group during the 2nd quarter worth about $31,000. Signature Resources Capital Management LLC grew its stake in UnitedHealth Group by 40.0% during the 2nd quarter. Signature Resources Capital Management LLC now owns 63 shares of the healthcare conglomerate’s stock worth $32,000 after buying an additional 18 shares during the last quarter. Finally, Red Tortoise LLC grew its stake in UnitedHealth Group by 45.1% during the 1st quarter. Red Tortoise LLC now owns 74 shares of the healthcare conglomerate’s stock worth $36,000 after buying an additional 23 shares during the last quarter. 87.86% of the stock is currently owned by hedge funds and other institutional investors.

UnitedHealth Group Stock Up 0.5 %

Shares of NYSE UNH traded up $3.16 on Tuesday, hitting $581.94. The company had a trading volume of 784,097 shares, compared to its average volume of 4,191,799. The company has a quick ratio of 0.85, a current ratio of 0.88 and a debt-to-equity ratio of 0.67. UnitedHealth Group Incorporated has a 12-month low of $436.38 and a 12-month high of $591.54. The business has a 50 day moving average of $531.06 and a two-hundred day moving average of $507.93. The firm has a market capitalization of $535.61 billion, a P/E ratio of 35.66, a PEG ratio of 1.61 and a beta of 0.59.

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

UnitedHealth Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 24th. Stockholders of record on Monday, September 16th will be given a dividend of $2.10 per share. This represents a $8.40 dividend on an annualized basis and a dividend yield of 1.44%. The ex-dividend date is Monday, September 16th. UnitedHealth Group’s payout ratio is 51.34%.

Wall Street Analyst Weigh In

UNH has been the topic of several analyst reports. Truist Financial lifted their target price on UnitedHealth Group from $600.00 to $640.00 and gave the company a “buy” rating in a research note on Wednesday, July 17th. Wells Fargo & Company lifted their target price on UnitedHealth Group from $525.00 to $630.00 and gave the company an “overweight” rating in a research note on Wednesday, July 17th. JPMorgan Chase & Co. lifted their price target on UnitedHealth Group from $546.00 to $559.00 and gave the company an “overweight” rating in a research note on Thursday, May 30th. Royal Bank of Canada lifted their price target on UnitedHealth Group from $555.00 to $615.00 and gave the company an “outperform” rating in a research note on Wednesday, July 17th. Finally, TD Cowen lifted their price target on UnitedHealth Group from $546.00 to $601.00 and gave the company a “buy” rating in a research note on Wednesday, July 17th. 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. Based on data from MarketBeat.com, UnitedHealth Group currently has an average rating of “Buy” and a consensus price target of $614.17.

Insider Transactions at UnitedHealth Group

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

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.