Prospect Financial Services LLC Takes Position in UnitedHealth Group Incorporated (NYSE:UNH)

Prospect Financial Services LLC bought a new position in UnitedHealth Group Incorporated (NYSE:UNH) in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 406 shares of the healthcare conglomerate’s stock, valued at approximately $237,000.

Several other institutional investors also recently modified their holdings of UNH. Kathleen S. Wright Associates Inc. bought a new stake in shares of UnitedHealth Group in the third quarter worth approximately $27,000. Macroview Investment Management LLC raised its stake in shares of UnitedHealth Group by 671.4% in the second quarter. Macroview Investment Management LLC now owns 54 shares of the healthcare conglomerate’s stock worth $28,000 after buying an additional 47 shares during the period. Delos Wealth Advisors LLC grew its stake 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 valued at $30,000 after acquiring an additional 53 shares during the period. Bbjs Financial Advisors LLC bought a new stake in UnitedHealth Group during the 2nd quarter worth approximately $31,000. Finally, Global Wealth Strategies & Associates boosted its position 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 purchasing an additional 32 shares during the period. 87.86% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other 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 $4,507,748.55. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.33% of the stock is owned by company insiders.

UnitedHealth Group Trading Down 8.4 %

UNH opened at $554.45 on Wednesday. UnitedHealth Group Incorporated has a 52 week low of $436.38 and a 52 week high of $608.63. 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 stock’s fifty day moving average is $584.11 and its two-hundred day moving average is $532.57. The company has a market capitalization of $510.31 billion, a P/E ratio of 33.89, a PEG ratio of 1.66 and a beta of 0.58.

UnitedHealth Group (NYSE:UNH) last posted its earnings results on Tuesday, July 16th. The healthcare conglomerate reported $6.80 EPS for the quarter, beating analysts’ consensus estimates of $6.66 by $0.14. UnitedHealth Group had a net margin of 3.66% and a return on equity of 26.55%. The business had revenue of $98.86 billion for the quarter, compared to the consensus estimate of $98.73 billion. During the same quarter last year, the firm posted $6.14 EPS. The company’s revenue for the quarter was up 6.4% on a year-over-year basis. Analysts forecast 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 was paid on Tuesday, September 24th. Investors of record on Monday, September 16th were given a dividend of $2.10 per share. The ex-dividend date was Monday, September 16th. This represents a $8.40 dividend on an annualized basis and a yield of 1.52%. UnitedHealth Group’s payout ratio is 51.34%.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the company. HSBC lifted their target price on UnitedHealth Group from $580.00 to $610.00 in a research note on Thursday, July 18th. Morgan Stanley increased their target price on UnitedHealth Group from $595.00 to $615.00 and gave the company an “overweight” rating in a research report on Wednesday, July 17th. Truist Financial upped their price target on shares of UnitedHealth Group from $600.00 to $640.00 and gave the company a “buy” rating in a research note on Wednesday, July 17th. KeyCorp assumed coverage on shares of UnitedHealth Group in a report on Friday, October 11th. They issued an “overweight” rating and a $675.00 target price on the stock. Finally, Jefferies Financial Group upgraded UnitedHealth Group from a “hold” rating to a “buy” rating and upped their price objective for the company from $481.00 to $647.00 in a research report on Wednesday, July 17th. Two equities 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. According to data from MarketBeat.com, UnitedHealth Group presently has a consensus rating of “Buy” and an average target price of $617.37.

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.