Summit Wealth Group LLC Sells 30 Shares of UnitedHealth Group Incorporated (NYSE:UNH)

Summit Wealth Group LLC decreased its holdings in UnitedHealth Group Incorporated (NYSE:UNH) by 1.7% during the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 1,750 shares of the healthcare conglomerate’s stock after selling 30 shares during the quarter. Summit Wealth Group LLC’s holdings in UnitedHealth Group were worth $1,023,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Delta Financial Group Inc. grew its position in UnitedHealth Group by 1.0% during the third quarter. Delta Financial Group Inc. now owns 1,650 shares of the healthcare conglomerate’s stock valued at $965,000 after acquiring an additional 17 shares during the last quarter. Signature Resources Capital Management LLC raised its stake 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. Saxony Capital Management LLC boosted its position in shares of UnitedHealth Group by 3.5% during the second quarter. Saxony Capital Management LLC now owns 530 shares of the healthcare conglomerate’s stock valued at $270,000 after purchasing an additional 18 shares in the last quarter. GoalVest Advisory LLC lifted its position in UnitedHealth Group by 0.6% during the 2nd quarter. GoalVest Advisory LLC now owns 3,124 shares of the healthcare conglomerate’s stock valued at $1,591,000 after acquiring an additional 18 shares during the period. Finally, Fiduciary Group LLC boosted its position in shares of UnitedHealth Group by 0.5% in the 2nd quarter. Fiduciary Group LLC now owns 3,695 shares of the healthcare conglomerate’s stock worth $1,882,000 after purchasing an additional 18 shares in the last quarter. 87.86% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research firms have issued reports on UNH. UBS Group lowered their target price on shares of UnitedHealth Group from $680.00 to $650.00 and set a “buy” rating on the stock in a research note on Wednesday, October 16th. Morgan Stanley cut their price objective on UnitedHealth Group from $615.00 to $610.00 and set an “overweight” rating for the company in a research note on Wednesday, October 16th. Cantor Fitzgerald increased their target price on UnitedHealth Group from $591.00 to $644.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 16th. Truist Financial reaffirmed a “buy” rating and set a $625.00 target price (down from $640.00) on shares of UnitedHealth Group in a research note on Wednesday, October 16th. Finally, Hsbc Global Res downgraded UnitedHealth Group from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 17th. Three analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, UnitedHealth Group currently has an average rating of “Moderate Buy” and an average target price of $615.53.

UnitedHealth Group Stock Performance

Shares of NYSE:UNH opened at $589.65 on Tuesday. The firm has a market capitalization of $542.64 billion, a PE ratio of 38.41, a P/E/G ratio of 1.74 and a beta of 0.58. The company has a debt-to-equity ratio of 0.74, a current ratio of 0.91 and a quick ratio of 0.91. UnitedHealth Group Incorporated has a 1 year low of $436.38 and a 1 year high of $630.73. The business’s 50 day moving average price is $582.75 and its 200-day moving average price is $550.66.

UnitedHealth Group (NYSE:UNH) last posted its earnings results on Tuesday, October 15th. The healthcare conglomerate reported $7.15 EPS for the quarter, beating analysts’ consensus estimates of $7.00 by $0.15. UnitedHealth Group had a net margin of 3.63% and a return on equity of 26.37%. The company had revenue of $100.82 billion for the quarter, compared to analysts’ expectations of $99.14 billion. During the same quarter in the prior year, the company posted $6.56 earnings per share. UnitedHealth Group’s revenue for the quarter was up 9.2% compared to the same quarter last year. As a group, equities research analysts expect that UnitedHealth Group Incorporated will post 27.6 earnings per share for the current fiscal year.

UnitedHealth Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 17th. Stockholders of record on Monday, December 9th will be given a dividend of $2.10 per share. The ex-dividend date of this dividend is Monday, December 9th. This represents a $8.40 annualized dividend and a dividend yield of 1.42%. UnitedHealth Group’s dividend payout ratio (DPR) is currently 54.72%.

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.