Jessup Wealth Management Inc Sells 223 Shares of UnitedHealth Group Incorporated (NYSE:UNH)

Jessup Wealth Management Inc reduced its holdings in UnitedHealth Group Incorporated (NYSE:UNH) by 3.4% during the 1st quarter, Holdings Channel reports. The fund owned 6,396 shares of the healthcare conglomerate’s stock after selling 223 shares during the quarter. UnitedHealth Group makes up approximately 1.4% of Jessup Wealth Management Inc’s portfolio, making the stock its 26th biggest position. Jessup Wealth Management Inc’s holdings in UnitedHealth Group were worth $3,164,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Bell Investment Advisors Inc lifted its holdings in UnitedHealth Group by 4.8% during the 4th quarter. Bell Investment Advisors Inc now owns 525 shares of the healthcare conglomerate’s stock worth $276,000 after buying an additional 24 shares in the last quarter. Harbor Investment Advisory LLC increased its position in UnitedHealth Group by 3.2% in the first quarter. Harbor Investment Advisory LLC now owns 35,946 shares of the healthcare conglomerate’s stock worth $17,783,000 after purchasing an additional 1,129 shares during the period. Verdence Capital Advisors LLC lifted its position in UnitedHealth Group by 2.1% during the 4th quarter. Verdence Capital Advisors LLC now owns 16,941 shares of the healthcare conglomerate’s stock valued at $8,919,000 after purchasing an additional 342 shares during the period. Austin Private Wealth LLC grew its position in shares of UnitedHealth Group by 9.8% during the 1st quarter. Austin Private Wealth LLC now owns 1,246 shares of the healthcare conglomerate’s stock worth $573,000 after buying an additional 111 shares during the period. Finally, Bellecapital International Ltd. boosted its stake in UnitedHealth Group by 1.4% in the fourth quarter. Bellecapital International Ltd. now owns 13,823 shares of the healthcare conglomerate’s stock valued at $7,277,000 after acquiring an additional 193 shares during the last quarter. 87.86% of the stock is owned by institutional investors and hedge funds.

UnitedHealth Group Stock Up 1.2 %

UnitedHealth Group stock traded up $5.71 during mid-day trading on Friday, reaching $492.15. The company’s stock had a trading volume of 3,905,350 shares, compared to its average volume of 4,147,568. The business’s 50 day simple moving average is $498.30 and its 200 day simple moving average is $502.61. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.85 and a current ratio of 0.85. UnitedHealth Group Incorporated has a 12 month low of $436.38 and a 12 month high of $554.70. The company has a market capitalization of $452.97 billion, a price-to-earnings ratio of 30.61, a price-to-earnings-growth ratio of 1.40 and a beta of 0.58.

UnitedHealth Group (NYSE:UNH) last issued its quarterly earnings results on Tuesday, April 16th. The healthcare conglomerate reported $6.91 EPS for the quarter, beating the consensus estimate of $6.63 by $0.28. UnitedHealth Group had a return on equity of 26.50% and a net margin of 4.05%. The firm had revenue of $99.80 billion during the quarter, compared to analysts’ expectations of $99.23 billion. During the same period in the prior year, the firm posted $6.26 earnings per share. The business’s quarterly revenue was up 8.6% compared to the same quarter last year. As a group, research analysts anticipate that UnitedHealth Group Incorporated will post 27.57 earnings per share for the current year.

UnitedHealth Group Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 25th. Stockholders of record on Monday, June 17th were given a dividend of $2.10 per share. This represents a $8.40 dividend on an annualized basis and a dividend yield of 1.71%. This is an increase from UnitedHealth Group’s previous quarterly dividend of $1.88. The ex-dividend date of this dividend was Monday, June 17th. UnitedHealth Group’s dividend payout ratio is presently 51.34%.

Wall Street Analysts Forecast Growth

UNH has been the topic of a number of analyst reports. TD Cowen cut their price target on UnitedHealth Group from $607.00 to $546.00 and set a “buy” rating on the stock in a research note on Wednesday, April 10th. JPMorgan Chase & Co. boosted their target price on UnitedHealth Group from $546.00 to $559.00 and gave the stock an “overweight” rating in a research report on Thursday, May 30th. Baird R W raised shares of UnitedHealth Group to a “strong-buy” rating in a research note on Thursday, May 30th. HSBC upgraded shares of UnitedHealth Group from a “hold” rating to a “buy” rating and set a $580.00 target price on the stock in a report on Wednesday, June 5th. Finally, Truist Financial restated a “buy” rating and issued a $600.00 price objective on shares of UnitedHealth Group in a research report on Wednesday, April 17th. Three equities research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $579.74.

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.