Independence Bank of Kentucky Boosts Stake in UnitedHealth Group Incorporated (NYSE:UNH)

Independence Bank of Kentucky lifted its holdings in UnitedHealth Group Incorporated (NYSE:UNH) by 34.2% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 10,594 shares of the healthcare conglomerate’s stock after purchasing an additional 2,701 shares during the quarter. UnitedHealth Group accounts for about 1.3% of Independence Bank of Kentucky’s investment portfolio, making the stock its 14th biggest holding. Independence Bank of Kentucky’s holdings in UnitedHealth Group were worth $6,194,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of the business. Macroview Investment Management LLC increased its position in UnitedHealth Group by 671.4% during the second quarter. Macroview Investment Management LLC now owns 54 shares of the healthcare conglomerate’s stock valued at $28,000 after acquiring an additional 47 shares during the last quarter. Delos Wealth Advisors LLC increased its position in UnitedHealth Group by 757.1% in the first quarter. Delos Wealth Advisors LLC now owns 60 shares of the healthcare conglomerate’s stock worth $30,000 after buying an additional 53 shares in the last quarter. Bbjs Financial Advisors LLC purchased a new stake in UnitedHealth Group in the second quarter worth about $31,000. Global Wealth Strategies & Associates increased its position in UnitedHealth Group by 152.4% in the third quarter. Global Wealth Strategies & Associates now owns 53 shares of the healthcare conglomerate’s stock worth $31,000 after buying an additional 32 shares in the last quarter. Finally, Signature Resources Capital Management LLC increased its position in UnitedHealth Group by 40.0% in the second quarter. Signature Resources Capital Management LLC now owns 63 shares of the healthcare conglomerate’s stock worth $32,000 after buying an additional 18 shares in the last quarter. Hedge funds and other institutional investors own 87.86% of the company’s stock.

UnitedHealth Group Trading Down 0.2 %

Shares of NYSE UNH traded down $1.21 during midday trading on Friday, hitting $596.49. The company’s stock had a trading volume of 168,269 shares, compared to its average volume of 3,911,764. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 0.67. The business’s 50 day moving average is $583.48 and its two-hundred day moving average is $530.04. UnitedHealth Group Incorporated has a 12-month low of $436.38 and a 12-month high of $607.94. The firm has a market cap of $550.81 billion, a P/E ratio of 39.63, a price-to-earnings-growth ratio of 1.65 and a beta of 0.58.

UnitedHealth Group (NYSE:UNH) last issued its quarterly earnings results on Tuesday, July 16th. The healthcare conglomerate reported $6.80 earnings per share for the quarter, topping the consensus estimate of $6.66 by $0.14. The firm had revenue of $98.86 billion for the quarter, compared to the consensus estimate of $98.73 billion. UnitedHealth Group had a return on equity of 26.55% and a net margin of 3.66%. The company’s revenue for the quarter was up 6.4% on a year-over-year basis. During the same period in the prior year, the business posted $6.14 earnings per share. As a group, equities research analysts expect that UnitedHealth Group Incorporated will post 27.69 EPS for the current year.

UnitedHealth Group Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 24th. Shareholders of record on Monday, September 16th were issued a dividend of $2.10 per share. The ex-dividend date of this dividend was Monday, September 16th. This represents a $8.40 annualized dividend and a yield of 1.41%. UnitedHealth Group’s payout ratio is currently 55.70%.

Wall Street Analyst Weigh In

UNH has been the subject of a number of recent analyst reports. Truist Financial upped their price objective on UnitedHealth Group from $600.00 to $640.00 and gave the stock a “buy” rating in a research note on Wednesday, July 17th. Morgan Stanley upped their price objective on UnitedHealth Group from $595.00 to $615.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 17th. Royal Bank of Canada upped their price objective on UnitedHealth Group from $555.00 to $615.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 17th. Barclays increased their price target on UnitedHealth Group from $560.00 to $604.00 and gave the company an “overweight” rating in a research note on Wednesday, July 17th. Finally, TD Cowen increased their price target on UnitedHealth Group from $546.00 to $601.00 and gave the company a “buy” rating in a research note on Wednesday, July 17th. Two analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, UnitedHealth Group currently has an average rating of “Moderate Buy” and an average price target of $617.37.

Insiders Place Their Bets

In other news, EVP Erin Mcsweeney sold 1,500 shares of UnitedHealth Group stock in a transaction on Thursday, July 18th. The stock was sold at an average price of $579.03, for a total value of $868,545.00. Following the transaction, the executive vice president now directly owns 7,785 shares in the company, valued at approximately $4,507,748.55. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, CAO Thomas E. Roos sold 2,851 shares of the firm’s stock in a transaction on Wednesday, July 17th. The stock was sold at an average price of $569.88, for a total value of $1,624,727.88. Following the completion of the sale, the chief accounting officer now owns 29,501 shares of the company’s stock, valued at $16,812,029.88. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Erin Mcsweeney sold 1,500 shares of the firm’s stock in a transaction on Thursday, July 18th. The stock was sold at an average price of $579.03, for a total value of $868,545.00. Following the completion of the sale, the executive vice president now directly owns 7,785 shares of the company’s stock, valued at $4,507,748.55. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.33% of the stock is currently owned by company insiders.

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.