Fortis Group Advisors LLC Sells 3,835 Shares of UnitedHealth Group Incorporated (NYSE:UNH)

Fortis Group Advisors LLC cut its holdings in UnitedHealth Group Incorporated (NYSE:UNH) by 38.7% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 6,073 shares of the healthcare conglomerate’s stock after selling 3,835 shares during the period. Fortis Group Advisors LLC’s holdings in UnitedHealth Group were worth $3,093,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also bought and sold shares of the company. Macroview Investment Management LLC increased its stake in shares of UnitedHealth Group by 671.4% during the 2nd quarter. Macroview Investment Management LLC now owns 54 shares of the healthcare conglomerate’s stock worth $28,000 after purchasing an additional 47 shares during the last quarter. Delos Wealth Advisors LLC increased its position in 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. True Wealth Design LLC purchased a new position in shares of UnitedHealth Group during the 4th quarter valued at $31,000. Bbjs Financial Advisors LLC purchased a new stake in UnitedHealth Group in the 2nd quarter worth about $31,000. Finally, Signature Resources Capital Management LLC boosted its position in 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. 87.86% of the stock is currently owned by institutional investors.

Insider Transactions at UnitedHealth Group

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

UnitedHealth Group Price Performance

Shares of UNH stock traded down $1.37 during trading hours on Friday, hitting $590.20. 2,944,705 shares of the company’s stock were exchanged, compared to its average volume of 4,101,315. The company has a current ratio of 0.88, a quick 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 $593.26. The business’s 50 day simple moving average is $548.35 and its 200-day simple moving average is $512.45. The company has a market capitalization of $545.00 billion, a PE ratio of 36.08, a PEG ratio of 1.63 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, topping analysts’ consensus estimates of $6.66 by $0.14. The business had revenue of $98.86 billion for the quarter, compared to analyst estimates of $98.73 billion. UnitedHealth Group had a net margin of 3.66% and a return on equity of 26.55%. The company’s revenue was up 6.4% on a year-over-year basis. During the same quarter last year, the firm earned $6.14 EPS. On average, equities research analysts anticipate that UnitedHealth Group Incorporated will post 27.69 earnings per share for the current year.

UnitedHealth Group Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 24th. Shareholders of record on Monday, September 16th will be paid a dividend of $2.10 per share. The ex-dividend date is Monday, September 16th. This represents a $8.40 annualized dividend and a yield of 1.42%. UnitedHealth Group’s dividend payout ratio is 51.34%.

Analysts Set New Price Targets

Several research firms recently commented on UNH. Royal Bank of Canada raised their price objective on shares of UnitedHealth Group from $555.00 to $615.00 and gave the stock an “outperform” rating in a report on Wednesday, July 17th. Jefferies Financial Group upgraded UnitedHealth Group from a “hold” rating to a “buy” rating and lifted their price target for the company from $481.00 to $647.00 in a research report on Wednesday, July 17th. Truist Financial lifted their target price on UnitedHealth Group from $600.00 to $640.00 and gave the company a “buy” rating in a report on Wednesday, July 17th. Morgan Stanley raised their price objective on shares of UnitedHealth Group from $595.00 to $615.00 and gave the company an “overweight” rating in a research report on Wednesday, July 17th. Finally, Cantor Fitzgerald reiterated an “overweight” rating and issued a $591.00 target price on shares of UnitedHealth Group in a research note on Monday, August 19th. One analyst has rated the stock with a hold rating, nineteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, UnitedHealth Group presently has a consensus rating of “Buy” and an average target price of $614.17.

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.