Prosperity Consulting Group LLC Has $1.97 Million Stock Holdings in UnitedHealth Group Incorporated (NYSE:UNH)

Prosperity Consulting Group LLC cut its stake in shares of UnitedHealth Group Incorporated (NYSE:UNH) by 7.0% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,987 shares of the healthcare conglomerate’s stock after selling 299 shares during the period. Prosperity Consulting Group LLC’s holdings in UnitedHealth Group were worth $1,972,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Bell Investment Advisors Inc raised its position in UnitedHealth Group by 4.8% during the fourth quarter. Bell Investment Advisors Inc now owns 525 shares of the healthcare conglomerate’s stock valued at $276,000 after buying an additional 24 shares during the period. Harbor Investment Advisory LLC grew its stake 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 valued at $17,783,000 after purchasing an additional 1,129 shares in the last quarter. Verdence Capital Advisors LLC grew its stake in UnitedHealth Group by 2.1% in the fourth 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 in the last quarter. Austin Private Wealth LLC grew its stake in UnitedHealth Group by 9.8% in the first quarter. Austin Private Wealth LLC now owns 1,246 shares of the healthcare conglomerate’s stock valued at $573,000 after purchasing an additional 111 shares in the last quarter. Finally, Bellecapital International Ltd. grew 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 purchasing an additional 193 shares in the last quarter. 87.86% of the stock is owned by institutional investors and hedge funds.

UnitedHealth Group Stock Performance

UnitedHealth Group stock traded down $1.88 during trading hours on Friday, hitting $488.01. The stock had a trading volume of 3,498,996 shares, compared to its average volume of 4,448,744. The company has a 50-day moving average of $498.46 and a two-hundred day moving average of $500.70. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.69. The company has a market cap of $449.16 billion, a PE ratio of 29.83, a price-to-earnings-growth ratio of 1.44 and a beta of 0.60. UnitedHealth Group Incorporated has a fifty-two week low of $436.38 and a fifty-two week high of $554.70.

UnitedHealth Group (NYSE:UNH) last issued its earnings results on Tuesday, April 16th. The healthcare conglomerate reported $6.91 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $6.63 by $0.28. UnitedHealth Group had a return on equity of 26.50% and a net margin of 4.05%. The business 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 EPS. UnitedHealth Group’s quarterly revenue was up 8.6% compared to the same quarter last year. On average, equities research analysts anticipate that UnitedHealth Group Incorporated will post 27.55 EPS for the current fiscal 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 issued a $2.10 dividend. The ex-dividend date of this dividend was Monday, June 17th. This is a boost from UnitedHealth Group’s previous quarterly dividend of $1.88. This represents a $8.40 dividend on an annualized basis and a dividend yield of 1.72%. UnitedHealth Group’s dividend payout ratio is presently 51.34%.

Analysts Set New Price Targets

A number of brokerages have commented on UNH. Piper Sandler boosted their target price on UnitedHealth Group from $566.00 to $571.00 and gave the company an “overweight” rating in a research note on Wednesday, April 17th. Morgan Stanley decreased their price target on UnitedHealth Group from $618.00 to $584.00 and set an “overweight” rating for the company in a research note on Friday, April 5th. JPMorgan Chase & Co. upped their price target on UnitedHealth Group from $546.00 to $559.00 and gave the stock an “overweight” rating in a research note on Thursday, May 30th. Cantor Fitzgerald reiterated an “overweight” rating and set a $591.00 price target on shares of UnitedHealth Group in a research note on Wednesday, June 12th. Finally, Deutsche Bank Aktiengesellschaft upped their price target on UnitedHealth Group from $545.00 to $562.00 and gave the stock a “buy” rating in a research note on Friday, April 19th. Three investment analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $579.74.

UnitedHealth Group Company 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.