Granite Harbor Advisors Inc. Has $566,000 Stock Position in UnitedHealth Group Incorporated (NYSE:UNH)

Granite Harbor Advisors Inc. raised its stake in UnitedHealth Group Incorporated (NYSE:UNH) by 2.1% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 1,119 shares of the healthcare conglomerate’s stock after acquiring an additional 23 shares during the period. Granite Harbor Advisors Inc.’s holdings in UnitedHealth Group were worth $566,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in UNH. Kathleen S. Wright Associates Inc. bought a new position in UnitedHealth Group during the third quarter worth $27,000. AlphaMark Advisors LLC acquired a new stake in UnitedHealth Group during the fourth quarter worth approximately $30,000. Global Wealth Strategies & Associates boosted its holdings in shares of UnitedHealth Group by 152.4% during the 3rd quarter. Global Wealth Strategies & Associates now owns 53 shares of the healthcare conglomerate’s stock worth $31,000 after buying an additional 32 shares in the last quarter. West Financial Advisors LLC bought a new position in UnitedHealth Group during the third quarter worth $32,000. Finally, Quarry LP raised its holdings in shares of UnitedHealth Group by 132.1% during the second quarter. Quarry LP now owns 65 shares of the healthcare conglomerate’s stock valued at $33,000 after purchasing an additional 37 shares during the period. 87.86% of the stock is currently owned by institutional investors.

UnitedHealth Group Stock Up 1.3 %

Shares of NYSE:UNH opened at $545.29 on Friday. The company has a debt-to-equity ratio of 0.74, a current ratio of 0.83 and a quick ratio of 0.91. UnitedHealth Group Incorporated has a one year low of $436.38 and a one year high of $630.73. The company has a market cap of $501.82 billion, a price-to-earnings ratio of 35.18, a PEG ratio of 1.46 and a beta of 0.62. The firm has a fifty day moving average price of $538.18 and a two-hundred day moving average price of $565.09.

UnitedHealth Group (NYSE:UNH) last posted its quarterly earnings data on Thursday, January 16th. The healthcare conglomerate reported $6.81 earnings per share for the quarter, topping the consensus estimate of $6.74 by $0.07. The company had revenue of $100.81 billion for the quarter, compared to analysts’ expectations of $101.60 billion. UnitedHealth Group had a net margin of 3.60% and a return on equity of 26.69%. UnitedHealth Group’s revenue for the quarter was up 6.8% compared to the same quarter last year. During the same period in the prior year, the business earned $5.83 earnings per share. Analysts anticipate that UnitedHealth Group Incorporated will post 29.64 EPS for the current fiscal year.

UnitedHealth Group Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 17th. Shareholders of record on Monday, December 9th were given a dividend of $2.10 per share. This represents a $8.40 dividend on an annualized basis and a yield of 1.54%. The ex-dividend date of this dividend was Monday, December 9th. UnitedHealth Group’s payout ratio is currently 54.19%.

Wall Street Analyst Weigh In

Several analysts recently issued reports on UNH shares. TD Cowen lifted their price target on shares of UnitedHealth Group from $601.00 to $609.00 and gave the company a “buy” rating in a research report on Friday, October 18th. Bank of America cut their price target on UnitedHealth Group from $675.00 to $650.00 and set a “buy” rating for the company in a research note on Wednesday, October 16th. Cantor Fitzgerald reiterated an “overweight” rating and set a $700.00 price target on shares of UnitedHealth Group in a report on Friday, January 17th. Piper Sandler reduced their target price on shares of UnitedHealth Group from $605.00 to $600.00 and set an “overweight” rating for the company in a research note on Thursday, January 2nd. Finally, Deutsche Bank Aktiengesellschaft upped their price objective on shares of UnitedHealth Group from $595.00 to $625.00 and gave the stock a “buy” rating in a research report on Tuesday, December 3rd. One equities research analyst has rated the stock with a hold rating, twenty have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Buy” and an average price target of $629.32.

Insider Activity

In other news, Director Timothy Patrick Flynn bought 1,000 shares of the firm’s stock in a transaction that occurred on Friday, January 17th. The shares were bought at an average cost of $511.57 per share, with a total value of $511,570.00. Following the completion of the purchase, the director now directly owns 4,500 shares in the company, valued at $2,302,065. This represents a 28.57 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available at this link. 0.33% of the stock is owned by corporate insiders.

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.