Confluence Wealth Services Inc. grew its holdings in shares of UnitedHealth Group Incorporated (NYSE:UNH – Free Report) by 22.8% during the third quarter, Holdings Channel reports. The firm owned 6,079 shares of the healthcare conglomerate’s stock after purchasing an additional 1,128 shares during the period. Confluence Wealth Services Inc.’s holdings in UnitedHealth Group were worth $3,554,000 as of its most recent SEC filing.
A number of other large investors have also recently bought and sold shares of the business. Tealwood Asset Management Inc. bought a new position in shares of UnitedHealth Group in the 3rd quarter valued at approximately $2,905,000. Asset Planning Services Inc. LA ADV boosted its holdings in shares of UnitedHealth Group by 1.2% during the 3rd quarter. Asset Planning Services Inc. LA ADV now owns 12,465 shares of the healthcare conglomerate’s stock worth $7,288,000 after buying an additional 150 shares during the period. Sequoia Financial Advisors LLC raised its holdings in UnitedHealth Group by 13.7% in the 3rd quarter. Sequoia Financial Advisors LLC now owns 24,976 shares of the healthcare conglomerate’s stock worth $14,603,000 after acquiring an additional 3,006 shares during the period. Concord Investment Counsel Inc. bought a new stake in UnitedHealth Group during the first quarter valued at about $14,544,000. Finally, Americana Partners LLC lifted its position in shares of UnitedHealth Group by 10.8% during the 3rd quarter. Americana Partners LLC now owns 20,377 shares of the healthcare conglomerate’s stock worth $11,914,000 after purchasing an additional 1,984 shares during the last quarter. 87.86% of the stock is currently owned by institutional investors.
Wall Street Analyst Weigh In
Several research analysts have commented on the company. HSBC downgraded UnitedHealth Group from a “buy” rating to a “hold” rating in a research report on Thursday, October 17th. Stephens decreased their price target on shares of UnitedHealth Group from $632.00 to $605.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 16th. Argus increased their target price on shares of UnitedHealth Group from $570.00 to $600.00 and gave the company a “buy” rating in a research note on Wednesday, July 17th. Barclays cut their price target on UnitedHealth Group from $604.00 to $603.00 and set an “overweight” rating for the company in a report on Tuesday, October 22nd. Finally, Jefferies Financial Group upgraded UnitedHealth Group from a “hold” rating to a “buy” rating and upped their target price for the company from $481.00 to $647.00 in a research note on Wednesday, July 17th. Four analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, UnitedHealth Group presently has an average rating of “Moderate Buy” and a consensus target price of $615.53.
UnitedHealth Group Price Performance
UnitedHealth Group stock opened at $567.56 on Friday. UnitedHealth Group Incorporated has a 52 week low of $436.38 and a 52 week high of $608.63. The firm has a market cap of $524.10 billion, a P/E ratio of 36.97, a P/E/G ratio of 1.66 and a beta of 0.58. 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 business’s fifty day moving average is $581.96 and its two-hundred day moving average is $542.00.
UnitedHealth Group (NYSE:UNH – Get Free Report) last posted its quarterly earnings data on Tuesday, October 15th. The healthcare conglomerate reported $7.15 earnings per share for the quarter, beating the consensus estimate of $7.00 by $0.15. UnitedHealth Group had a net margin of 3.63% and a return on equity of 26.37%. The firm had revenue of $100.82 billion during the quarter, compared to analysts’ expectations of $99.14 billion. During the same quarter last year, the company posted $6.56 EPS. The company’s quarterly revenue was up 9.2% compared to the same quarter last year. Equities research analysts forecast that UnitedHealth Group Incorporated will post 27.61 earnings per share for the current fiscal year.
UnitedHealth Group Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Tuesday, September 24th. Stockholders of record on Monday, September 16th were paid a dividend of $2.10 per share. This represents a $8.40 annualized dividend and a dividend yield of 1.48%. The ex-dividend date was Monday, September 16th. UnitedHealth Group’s dividend payout ratio (DPR) is presently 54.72%.
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.
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