UnitedHealth Group Incorporated (NYSE:UNH) Shares Bought by Procyon Advisors LLC

Procyon Advisors LLC lifted its holdings in UnitedHealth Group Incorporated (NYSE:UNH) by 3.6% in the fourth quarter, HoldingsChannel reports. The firm owned 21,550 shares of the healthcare conglomerate’s stock after buying an additional 749 shares during the quarter. UnitedHealth Group makes up approximately 1.0% of Procyon Advisors LLC’s holdings, making the stock its 21st biggest holding. Procyon Advisors LLC’s holdings in UnitedHealth Group were worth $11,346,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. State Street Corp grew its holdings in UnitedHealth Group by 1.7% in the second quarter. State Street Corp now owns 46,313,751 shares of the healthcare conglomerate’s stock valued at $22,260,241,000 after purchasing an additional 764,872 shares during the last quarter. Wellington Management Group LLP lifted its position in shares of UnitedHealth Group by 2.1% in the 3rd quarter. Wellington Management Group LLP now owns 25,220,234 shares of the healthcare conglomerate’s stock worth $12,715,790,000 after buying an additional 527,526 shares during the last quarter. Morgan Stanley boosted its position in UnitedHealth Group by 13.8% during the 4th quarter. Morgan Stanley now owns 15,635,038 shares of the healthcare conglomerate’s stock worth $8,289,386,000 after acquiring an additional 1,893,192 shares during the period. Moneta Group Investment Advisors LLC boosted its stake in UnitedHealth Group by 100,076.4% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 11,823,820 shares of the healthcare conglomerate’s stock valued at $6,268,753,000 after buying an additional 11,812,017 shares in the last quarter. Finally, Alliancebernstein L.P. raised its position in shares of UnitedHealth Group by 3.5% during the second quarter. Alliancebernstein L.P. now owns 11,749,819 shares of the healthcare conglomerate’s stock worth $5,647,433,000 after purchasing an additional 399,739 shares during the period. Institutional investors and hedge funds own 87.86% of the company’s stock.

Insider Buying and Selling at UnitedHealth Group

In related news, EVP Erin Mcsweeney sold 1,236 shares of the stock in a transaction on Friday, March 8th. The stock was sold at an average price of $483.48, for a total transaction of $597,581.28. Following the completion of the sale, the executive vice president now directly owns 9,364 shares in the company, valued at $4,527,306.72. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In other news, CAO Thomas E. Roos sold 858 shares of UnitedHealth Group stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $525.79, for a total transaction of $451,127.82. Following the completion of the sale, the chief accounting officer now owns 32,289 shares in the company, valued at approximately $16,977,233.31. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Erin Mcsweeney sold 1,236 shares of the stock in a transaction that occurred on Friday, March 8th. The stock was sold at an average price of $483.48, for a total value of $597,581.28. Following the sale, the executive vice president now directly owns 9,364 shares of the company’s stock, valued at $4,527,306.72. The disclosure for this sale can be found here. 0.35% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on UNH shares. Truist Financial restated a “buy” rating and set a $610.00 price target on shares of UnitedHealth Group in a report on Thursday, November 30th. Royal Bank of Canada reissued an “outperform” rating and issued a $596.00 price target on shares of UnitedHealth Group in a research note on Thursday, February 29th. Piper Sandler cut their price objective on UnitedHealth Group from $584.00 to $581.00 and set an “overweight” rating for the company in a report on Wednesday, January 17th. Bank of America reiterated a “buy” rating and set a $675.00 price objective on shares of UnitedHealth Group in a research note on Thursday, March 7th. Finally, Stephens restated an “overweight” rating and issued a $605.00 price target on shares of UnitedHealth Group in a research report on Thursday, February 8th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, UnitedHealth Group has an average rating of “Moderate Buy” and a consensus price target of $579.33.

UnitedHealth Group Price Performance

Shares of UNH traded down $2.18 during mid-day trading on Thursday, hitting $490.92. The company’s stock had a trading volume of 385,367 shares, compared to its average volume of 4,038,452. The firm has a 50-day simple moving average of $503.73 and a 200 day simple moving average of $518.79. The firm has a market capitalization of $452.59 billion, a P/E ratio of 20.68, a P/E/G ratio of 1.34 and a beta of 0.54. UnitedHealth Group Incorporated has a 1-year low of $445.68 and a 1-year high of $554.70. The company has a current ratio of 0.79, a quick ratio of 0.79 and a debt-to-equity ratio of 0.62.

UnitedHealth Group (NYSE:UNH) last posted its quarterly earnings data on Friday, January 12th. The healthcare conglomerate reported $6.16 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.98 by $0.18. The company had revenue of $94.43 billion for the quarter, compared to analyst estimates of $92.13 billion. UnitedHealth Group had a net margin of 6.02% and a return on equity of 26.39%. The business’s quarterly revenue was up 14.1% on a year-over-year basis. During the same quarter last year, the firm posted $5.34 earnings per share. Analysts predict that UnitedHealth Group Incorporated will post 27.82 EPS for the current fiscal year.

UnitedHealth Group Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, March 19th. Investors of record on Monday, March 11th were given a $1.88 dividend. The ex-dividend date of this dividend was Friday, March 8th. This represents a $7.52 dividend on an annualized basis and a yield of 1.53%. UnitedHealth Group’s dividend payout ratio is presently 31.54%.

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.