Mechanics Financial Corp Decreases Holdings in UnitedHealth Group Incorporated (NYSE:UNH)

Mechanics Financial Corp trimmed its position in UnitedHealth Group Incorporated (NYSE:UNH) by 0.6% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 3,101 shares of the healthcare conglomerate’s stock after selling 20 shares during the period. UnitedHealth Group comprises about 0.7% of Mechanics Financial Corp’s portfolio, making the stock its 29th largest holding. Mechanics Financial Corp’s holdings in UnitedHealth Group were worth $1,569,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Howard Capital Management Group LLC acquired a new position in UnitedHealth Group during the third quarter worth about $341,000. Principal Financial Group Inc. grew its position in shares of UnitedHealth Group by 11.3% in the third quarter. Principal Financial Group Inc. now owns 1,778,636 shares of the healthcare conglomerate’s stock valued at $1,039,933,000 after purchasing an additional 180,479 shares in the last quarter. Kingfisher Capital LLC lifted its position in UnitedHealth Group by 1.2% during the third quarter. Kingfisher Capital LLC now owns 2,923 shares of the healthcare conglomerate’s stock worth $1,709,000 after buying an additional 36 shares in the last quarter. Captrust Financial Advisors grew its holdings in UnitedHealth Group by 0.9% in the 3rd quarter. Captrust Financial Advisors now owns 210,464 shares of the healthcare conglomerate’s stock valued at $123,054,000 after buying an additional 1,789 shares in the last quarter. Finally, Fred Alger Management LLC raised its holdings in shares of UnitedHealth Group by 91.9% during the 3rd quarter. Fred Alger Management LLC now owns 199,460 shares of the healthcare conglomerate’s stock worth $116,620,000 after acquiring an additional 95,503 shares during the period. Institutional investors and hedge funds own 87.86% of the company’s stock.

UnitedHealth Group Stock Performance

NYSE:UNH opened at $515.47 on Friday. The firm has a market capitalization of $471.51 billion, a PE ratio of 33.26, a price-to-earnings-growth ratio of 1.37 and a beta of 0.62. The company has a debt-to-equity ratio of 0.74, a current ratio of 0.83 and a quick ratio of 0.91. The business’s fifty day moving average price is $508.81 and its 200 day moving average price is $544.62. UnitedHealth Group Incorporated has a 12 month low of $436.38 and a 12 month high of $630.73.

UnitedHealth Group (NYSE:UNH) last announced its quarterly earnings results on Thursday, January 16th. The healthcare conglomerate reported $6.81 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $6.74 by $0.07. UnitedHealth Group had a return on equity of 26.69% and a net margin of 3.60%. The firm had revenue of $100.81 billion during the quarter, compared to the consensus estimate of $101.60 billion. During the same period in the prior year, the company posted $5.83 earnings per share. The firm’s quarterly revenue was up 6.8% compared to the same quarter last year. On average, sell-side analysts anticipate that UnitedHealth Group Incorporated will post 29.54 earnings per share for the current fiscal year.

UnitedHealth Group Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, March 18th. Stockholders of record on Monday, March 10th were given a dividend of $2.10 per share. This represents a $8.40 dividend on an annualized basis and a dividend yield of 1.63%. The ex-dividend date of this dividend was Monday, March 10th. UnitedHealth Group’s dividend payout ratio (DPR) is currently 54.19%.

Insider Buying and Selling

In other UnitedHealth Group news, Director Timothy Patrick Flynn acquired 1,000 shares of the stock in a transaction 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 transaction, the director now owns 4,500 shares of the company’s stock, valued at approximately $2,302,065. This trade represents a 28.57 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.33% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

UNH has been the topic of a number of analyst reports. Piper Sandler reduced their target price on shares of UnitedHealth Group from $605.00 to $600.00 and set an “overweight” rating on the stock in a research note on Thursday, January 2nd. Barclays cut their price objective on UnitedHealth Group from $655.00 to $642.00 and set an “overweight” rating for the company in a research report on Friday, January 17th. Cantor Fitzgerald reiterated an “overweight” rating and set a $700.00 price target on shares of UnitedHealth Group in a research report on Friday, January 17th. Deutsche Bank Aktiengesellschaft boosted their target price on UnitedHealth Group from $595.00 to $625.00 and gave the company a “buy” rating in a research report on Tuesday, December 3rd. Finally, Stephens lifted their price objective on UnitedHealth Group from $605.00 to $675.00 and gave the company an “overweight” rating in a research note on Thursday, December 5th. Twenty research analysts have rated the stock with a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus price target of $629.32.

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.