Gilliland Jeter Wealth Management LLC Reduces Stock Position in UnitedHealth Group Incorporated (NYSE:UNH)

Gilliland Jeter Wealth Management LLC reduced its holdings in UnitedHealth Group Incorporated (NYSE:UNH) by 8.7% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,944 shares of the healthcare conglomerate’s stock after selling 375 shares during the period. Gilliland Jeter Wealth Management LLC’s holdings in UnitedHealth Group were worth $2,066,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in the business. Citizens National Bank Trust Department boosted its stake in shares of UnitedHealth Group by 1.0% in the first quarter. Citizens National Bank Trust Department now owns 17,886 shares of the healthcare conglomerate’s stock worth $9,368,000 after buying an additional 170 shares during the last quarter. Fort Washington Investment Advisors Inc. OH boosted its position in UnitedHealth Group by 0.3% in the 1st quarter. Fort Washington Investment Advisors Inc. OH now owns 530,103 shares of the healthcare conglomerate’s stock worth $277,641,000 after purchasing an additional 1,465 shares in the last quarter. Sherbrooke Park Advisers LLC acquired a new stake in shares of UnitedHealth Group during the 4th quarter worth approximately $515,000. Full Sail Capital LLC grew its stake in shares of UnitedHealth Group by 2.1% during the 4th quarter. Full Sail Capital LLC now owns 1,612 shares of the healthcare conglomerate’s stock worth $815,000 after purchasing an additional 33 shares during the period. Finally, Soros Fund Management LLC acquired a new stake in UnitedHealth Group during the fourth quarter valued at $39,413,000. 87.86% of the stock is owned by hedge funds and other institutional investors.

UnitedHealth Group Stock Up 0.4%

UNH stock opened at $308.69 on Monday. The firm has a market cap of $280.03 billion, a PE ratio of 12.93, a PEG ratio of 1.48 and a beta of 0.45. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.85 and a current ratio of 0.85. The firm’s 50 day moving average price is $324.99 and its 200-day moving average price is $447.02. UnitedHealth Group Incorporated has a one year low of $248.88 and a one year high of $630.73.

UnitedHealth Group (NYSE:UNH) last posted 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). The business had revenue of $109.58 billion during the quarter, compared to analysts’ expectations of $111.56 billion. UnitedHealth Group had a net margin of 5.39% and a return on equity of 26.29%. During the same quarter in the prior year, the firm earned $6.91 EPS. On average, equities research analysts anticipate that UnitedHealth Group Incorporated will post 29.54 EPS for the current year.

UnitedHealth Group Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 24th. Stockholders of record on Monday, June 16th were paid a $2.21 dividend. This represents a $8.84 dividend on an annualized basis and a dividend yield of 2.86%. This is an increase from UnitedHealth Group’s previous quarterly dividend of $2.10. The ex-dividend date of this dividend was Monday, June 16th. UnitedHealth Group’s payout ratio is 37.02%.

Insider Buying and Selling

In other news, Director Kristen Gil acquired 3,700 shares of the business’s stock in a transaction that occurred on Thursday, May 15th. The shares were purchased at an average price of $271.17 per share, for a total transaction of $1,003,329.00. Following the acquisition, the director owned 3,818 shares of the company’s stock, valued at $1,035,327.06. This represents a 3,135.59% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Stephen J. Hemsley purchased 86,700 shares of the business’s stock in a transaction on Friday, May 16th. The shares were acquired at an average price of $288.57 per share, for a total transaction of $25,019,019.00. Following the completion of the purchase, the chief executive officer directly owned 679,493 shares of the company’s stock, valued at approximately $196,081,295.01. This trade represents a 14.63% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have bought 109,408 shares of company stock valued at $31,607,768 over the last quarter. 0.28% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research firms have recently commented on UNH. Royal Bank Of Canada dropped their target price on UnitedHealth Group from $525.00 to $355.00 and set an “outperform” rating on the stock in a research report on Friday, May 16th. UBS Group dropped their price objective on UnitedHealth Group from $400.00 to $385.00 and set a “buy” rating on the stock in a report on Wednesday, June 25th. Argus lowered UnitedHealth Group from a “buy” rating to a “hold” rating in a report on Monday, April 21st. Robert W. Baird cut shares of UnitedHealth Group from an “outperform” rating to a “neutral” rating and set a $312.00 price target on the stock. in a research note on Wednesday, June 11th. Finally, TD Securities reiterated a “hold” rating and issued a $308.00 target price (down previously from $520.00) on shares of UnitedHealth Group in a research report on Monday, May 19th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and sixteen have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $415.57.

About UnitedHealth Group

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.