PNC Financial Services Group Inc. Reduces Stock Position in UnitedHealth Group Incorporated (NYSE:UNH)

PNC Financial Services Group Inc. lowered its position in UnitedHealth Group Incorporated (NYSE:UNH) by 1.8% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,241,142 shares of the healthcare conglomerate’s stock after selling 23,130 shares during the period. PNC Financial Services Group Inc. owned approximately 0.13% of UnitedHealth Group worth $596,542,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently bought and sold shares of UNH. William Blair Investment Management LLC grew its holdings in UnitedHealth Group by 3.8% during the second quarter. William Blair Investment Management LLC now owns 763,781 shares of the healthcare conglomerate’s stock worth $367,104,000 after acquiring an additional 28,304 shares during the period. Osaic Holdings Inc. increased its holdings in shares of UnitedHealth Group by 776.9% during the 2nd quarter. Osaic Holdings Inc. now owns 3,248,409 shares of the healthcare conglomerate’s stock valued at $177,941,000 after purchasing an additional 2,877,983 shares in the last quarter. Peloton Wealth Strategists boosted its holdings in UnitedHealth Group by 1.2% during the second quarter. Peloton Wealth Strategists now owns 8,975 shares of the healthcare conglomerate’s stock worth $4,314,000 after buying an additional 110 shares in the last quarter. WFA of San Diego LLC purchased a new position in UnitedHealth Group in the second quarter valued at $39,000. Finally, Axiom Investors LLC DE grew its position in shares of UnitedHealth Group by 43.1% during the 2nd quarter. Axiom Investors LLC DE now owns 235,638 shares of the healthcare conglomerate’s stock valued at $113,257,000 after acquiring an additional 70,928 shares during the period. 85.69% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

UNH has been the topic of a number of recent analyst reports. Jefferies Financial Group lowered their price target on UnitedHealth Group from $565.00 to $503.00 and set a “hold” rating on the stock in a research report on Monday. HSBC started coverage on shares of UnitedHealth Group in a report on Wednesday, September 6th. They set a “hold” rating and a $540.00 price objective on the stock. StockNews.com downgraded shares of UnitedHealth Group from a “strong-buy” rating to a “buy” rating in a research report on Saturday, October 21st. Piper Sandler boosted their price objective on UnitedHealth Group from $580.00 to $584.00 and gave the stock an “overweight” rating in a research note on Monday, October 16th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $591.00 price target on shares of UnitedHealth Group in a research note on Thursday, September 14th. Two investment analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $576.90.

Insider Buying and Selling

In related news, Director Stephen J. Hemsley sold 121,515 shares of UnitedHealth Group stock in a transaction that occurred on Tuesday, October 17th. The stock was sold at an average price of $540.58, for a total value of $65,688,578.70. Following the sale, the director now directly owns 521,818 shares in the company, valued at $282,084,374.44. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other UnitedHealth Group news, EVP Erin Mcsweeney sold 4,498 shares of the company’s stock in a transaction on Monday, October 16th. The stock was sold at an average price of $544.28, for a total value of $2,448,171.44. Following the sale, the executive vice president now owns 9,218 shares of the company’s stock, valued at $5,017,173.04. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Stephen J. Hemsley sold 121,515 shares of the business’s stock in a transaction dated Tuesday, October 17th. The stock was sold at an average price of $540.58, for a total transaction of $65,688,578.70. Following the completion of the sale, the director now owns 521,818 shares in the company, valued at $282,084,374.44. The disclosure for this sale can be found here. 0.35% of the stock is currently owned by corporate insiders.

UnitedHealth Group Trading Up 0.2 %

Shares of NYSE UNH traded up $1.28 during mid-day trading on Tuesday, reaching $536.38. 277,349 shares of the company’s stock were exchanged, compared to its average volume of 3,277,795. UnitedHealth Group Incorporated has a 52-week low of $445.68 and a 52-week high of $553.00. The firm has a market capitalization of $496.11 billion, a price-to-earnings ratio of 23.28, a PEG ratio of 1.64 and a beta of 0.63. The company’s 50-day moving average is $520.61 and its 200-day moving average is $498.83. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.80 and a current ratio of 0.80.

UnitedHealth Group (NYSE:UNH) last posted its quarterly earnings data on Friday, October 13th. The healthcare conglomerate reported $6.56 EPS for the quarter, beating the consensus estimate of $6.33 by $0.23. UnitedHealth Group had a net margin of 6.02% and a return on equity of 26.58%. The business had revenue of $92.36 billion during the quarter, compared to analyst estimates of $91.41 billion. During the same quarter last year, the firm posted $5.79 earnings per share. The business’s revenue for the quarter was up 14.2% compared to the same quarter last year. Analysts expect that UnitedHealth Group Incorporated will post 24.94 EPS for the current fiscal year.

UnitedHealth Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 12th. Shareholders of record on Monday, December 4th will be issued a dividend of $1.88 per share. This represents a $7.52 annualized dividend and a dividend yield of 1.40%. The ex-dividend date of this dividend is Friday, December 1st. UnitedHealth Group’s payout ratio is 32.64%.

UnitedHealth Group Company Profile

UnitedHealth Group Incorporated operates as a diversified health care company in the United States. It 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.