Fortitude Advisory Group L.L.C. Has $550,000 Position in UnitedHealth Group Incorporated (NYSE:UNH)

Fortitude Advisory Group L.L.C. lowered its position in UnitedHealth Group Incorporated (NYSE:UNH) by 30.6% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,051 shares of the healthcare conglomerate’s stock after selling 463 shares during the quarter. Fortitude Advisory Group L.L.C.’s holdings in UnitedHealth Group were worth $550,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Financial Management Professionals Inc. grew its stake in UnitedHealth Group by 0.8% in the 1st quarter. Financial Management Professionals Inc. now owns 2,224 shares of the healthcare conglomerate’s stock valued at $1,165,000 after purchasing an additional 17 shares during the period. Richwood Investment Advisors LLC lifted its holdings in UnitedHealth Group by 0.4% during the fourth quarter. Richwood Investment Advisors LLC now owns 5,247 shares of the healthcare conglomerate’s stock valued at $2,654,000 after purchasing an additional 20 shares during the last quarter. Global Wealth Strategies & Associates grew its stake in UnitedHealth Group by 28.6% in the 1st quarter. Global Wealth Strategies & Associates now owns 90 shares of the healthcare conglomerate’s stock valued at $47,000 after buying an additional 20 shares in the last quarter. Prentice Wealth Management LLC raised its stake in shares of UnitedHealth Group by 0.8% during the 4th quarter. Prentice Wealth Management LLC now owns 2,527 shares of the healthcare conglomerate’s stock valued at $1,278,000 after purchasing an additional 21 shares during the period. Finally, 44 Wealth Management LLC lifted its holdings in shares of UnitedHealth Group by 1.6% in the fourth quarter. 44 Wealth Management LLC now owns 1,309 shares of the healthcare conglomerate’s stock worth $662,000 after buying an additional 21 shares in the last quarter. 87.86% of the stock is owned by hedge funds and other institutional investors.

UnitedHealth Group Stock Down 1.8%

UNH opened at $307.84 on Tuesday. The stock has a market capitalization of $279.25 billion, a price-to-earnings ratio of 19.86, a PEG ratio of 1.37 and a beta of 0.44. UnitedHealth Group Incorporated has a twelve month low of $248.88 and a twelve month high of $630.73. The company has a quick ratio of 0.91, a current ratio of 0.83 and a debt-to-equity ratio of 0.74. The firm has a 50 day moving average price of $381.74 and a 200-day moving average price of $470.20.

UnitedHealth Group (NYSE:UNH) last announced its earnings results on Thursday, April 17th. The healthcare conglomerate reported $7.20 EPS for the quarter, missing analysts’ consensus estimates of $7.29 by ($0.09). UnitedHealth Group had a net margin of 3.60% and a return on equity of 26.69%. The business had revenue of $109.58 billion for the quarter, compared to analysts’ expectations of $111.56 billion. During the same period in the prior year, the company posted $6.91 earnings per share. Equities research analysts forecast that UnitedHealth Group Incorporated will post 29.54 earnings per share for the current year.

UnitedHealth Group Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 24th. Stockholders of record on Monday, June 16th will be paid a $2.21 dividend. The ex-dividend date is Monday, June 16th. This is a boost from UnitedHealth Group’s previous quarterly dividend of $2.10. This represents a $8.84 dividend on an annualized basis and a dividend yield of 2.87%. UnitedHealth Group’s dividend payout ratio is 37.02%.

Analysts Set New Price Targets

UNH has been the subject of several recent analyst reports. Bank of America cut UnitedHealth Group from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $560.00 to $350.00 in a research report on Wednesday, May 14th. KeyCorp lowered their price target on shares of UnitedHealth Group from $450.00 to $400.00 and set an “overweight” rating for the company in a research note on Monday, June 2nd. HSBC restated a “reduce” rating and issued a $270.00 target price (down previously from $490.00) on shares of UnitedHealth Group in a report on Wednesday, May 21st. Truist Financial reaffirmed a “buy” rating and set a $360.00 price target (down previously from $580.00) on shares of UnitedHealth Group in a research report on Monday, May 19th. Finally, Erste Group Bank lowered shares of UnitedHealth Group from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, April 30th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and sixteen have assigned a buy rating to the company. According to MarketBeat.com, UnitedHealth Group presently has an average rating of “Moderate Buy” and an average target price of $426.52.

Insider Activity

In other news, CEO Stephen J. Hemsley acquired 86,700 shares of the business’s stock in a transaction dated Friday, May 16th. The stock was purchased at an average price of $288.57 per share, for a total transaction of $25,019,019.00. Following the completion of the transaction, the chief executive officer now directly owns 679,493 shares in the company, valued at approximately $196,081,295.01. This trade represents a 14.63% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Timothy Patrick Flynn bought 1,533 shares of the business’s stock in a transaction that occurred on Wednesday, May 14th. The stock was acquired at an average cost of $320.80 per share, with a total value of $491,786.40. Following the completion of the acquisition, the director now owns 6,033 shares of the company’s stock, valued at $1,935,386.40. This represents a 34.07% increase in their position. The disclosure for this purchase can be found here. Insiders have acquired 109,408 shares of company stock worth $31,607,768 over the last ninety days. Corporate insiders own 0.28% of the company’s stock.

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.