Greystone Financial Group LLC Makes New Investment in UnitedHealth Group Incorporated (NYSE:UNH)

Greystone Financial Group LLC acquired a new position in UnitedHealth Group Incorporated (NYSE:UNH) during the first quarter, HoldingsChannel.com reports. The fund acquired 17,462 shares of the healthcare conglomerate’s stock, valued at approximately $9,146,000. UnitedHealth Group makes up about 1.7% of Greystone Financial Group LLC’s portfolio, making the stock its 28th biggest holding.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Norges Bank purchased a new stake in shares of UnitedHealth Group in the 4th quarter worth $6,375,744,000. GAMMA Investing LLC raised its stake in shares of UnitedHealth Group by 56,142.1% in the first quarter. GAMMA Investing LLC now owns 8,295,153 shares of the healthcare conglomerate’s stock worth $4,344,586,000 after buying an additional 8,280,404 shares during the period. Raymond James Financial Inc. bought a new position in shares of UnitedHealth Group during the 4th quarter valued at approximately $1,914,740,000. Amundi raised its stake in UnitedHealth Group by 97.2% during the 4th quarter. Amundi now owns 6,069,100 shares of the healthcare conglomerate’s stock worth $3,183,132,000 after acquiring an additional 2,991,470 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in shares of UnitedHealth Group by 36.6% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 8,592,718 shares of the healthcare conglomerate’s stock worth $4,346,712,000 after purchasing an additional 2,301,010 shares during the period. 87.86% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at UnitedHealth Group

In related news, Director Kristen Gil bought 3,700 shares of the company’s stock in a transaction on Thursday, May 15th. The shares were acquired at an average cost of $271.17 per share, for a total transaction of $1,003,329.00. Following the purchase, the director now directly owns 3,818 shares of the company’s stock, valued at approximately $1,035,327.06. The trade was a 3,135.59% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO John F. Rex purchased 17,175 shares of the firm’s stock in a transaction dated Friday, May 16th. The shares were bought at an average cost of $291.12 per share, with a total value of $4,999,986.00. Following the purchase, the chief financial officer now directly owns 203,796 shares of the company’s stock, valued at approximately $59,329,091.52. This represents a 9.20% increase in their position. The disclosure for this purchase can be found here. Insiders acquired a total of 109,408 shares of company stock worth $31,607,768 in the last quarter. 0.33% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

UNH has been the topic of a number of analyst reports. HSBC restated a “reduce” rating and set a $270.00 target price (down previously from $490.00) on shares of UnitedHealth Group in a research note on Wednesday, May 21st. Robert W. Baird cut their target price on UnitedHealth Group from $510.00 to $356.00 and set an “outperform” rating for the company in a research report on Wednesday, May 14th. Truist Financial restated a “buy” rating and issued a $360.00 price target (down from $580.00) on shares of UnitedHealth Group in a research note on Monday, May 19th. Wolfe Research lowered their target price on shares of UnitedHealth Group from $501.00 to $390.00 and set an “outperform” rating on the stock in a report on Tuesday, May 20th. Finally, Barclays reduced their price target on shares of UnitedHealth Group to $350.00 and set an “overweight” rating on the stock in a report on Monday, June 2nd. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and seventeen have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $428.43.

UnitedHealth Group Stock Performance

NYSE UNH opened at $303.24 on Monday. The company has a market cap of $275.08 billion, a P/E ratio of 19.56, a P/E/G ratio of 1.37 and a beta of 0.44. The business’s 50 day moving average price is $409.03 and its 200-day moving average price is $482.60. UnitedHealth Group Incorporated has a fifty-two week low of $248.88 and a fifty-two week high of $630.73. The company has a debt-to-equity ratio of 0.74, a quick ratio of 0.91 and a current ratio of 0.83.

UnitedHealth Group (NYSE:UNH) last released its earnings results on Thursday, April 17th. The healthcare conglomerate reported $7.20 earnings per share (EPS) for the quarter, missing the consensus estimate of $7.29 by ($0.09). The firm had revenue of $109.58 billion during the quarter, compared to the consensus estimate of $111.56 billion. UnitedHealth Group had a return on equity of 26.69% and a net margin of 3.60%. During the same quarter last year, the business posted $6.91 EPS. Sell-side analysts predict that UnitedHealth Group Incorporated will post 29.54 earnings per share for the current year.

UnitedHealth Group Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 24th. Stockholders of record on Monday, June 16th will be issued a $2.21 dividend. This represents a $8.84 annualized dividend and a dividend yield of 2.92%. This is an increase from UnitedHealth Group’s previous quarterly dividend of $2.10. The ex-dividend date is Monday, June 16th. UnitedHealth Group’s dividend payout ratio is presently 37.02%.

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.