Formidable Asset Management LLC Raises Stock Position in UnitedHealth Group Incorporated (NYSE:UNH)

Formidable Asset Management LLC increased its position in shares of UnitedHealth Group Incorporated (NYSE:UNH) by 0.9% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 5,177 shares of the healthcare conglomerate’s stock after buying an additional 48 shares during the period. Formidable Asset Management LLC’s holdings in UnitedHealth Group were worth $2,711,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in UNH. Citizens National Bank Trust Department increased its position in shares of UnitedHealth Group by 1.0% in the 1st quarter. Citizens National Bank Trust Department now owns 17,886 shares of the healthcare conglomerate’s stock worth $9,368,000 after purchasing an additional 170 shares during the last quarter. Fort Washington Investment Advisors Inc. OH increased its position in shares of 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 during the last quarter. Sherbrooke Park Advisers LLC acquired a new position in shares of UnitedHealth Group in the 4th quarter valued at about $515,000. Full Sail Capital LLC boosted its holdings in shares of UnitedHealth Group by 2.1% in the 4th quarter. Full Sail Capital LLC now owns 1,612 shares of the healthcare conglomerate’s stock valued at $815,000 after buying an additional 33 shares during the period. Finally, Soros Fund Management LLC acquired a new position in shares of UnitedHealth Group in the 4th quarter valued at about $39,413,000. Hedge funds and other institutional investors own 87.86% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on UNH shares. Truist Financial reduced their target price on shares of UnitedHealth Group from $360.00 to $345.00 and set a “buy” rating for the company in a research note on Wednesday. Oppenheimer reduced their target price on shares of UnitedHealth Group from $600.00 to $400.00 and set an “outperform” rating for the company in a research note on Wednesday, May 14th. KeyCorp reduced their target price 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. UBS Group restated a “buy” rating on shares of UnitedHealth Group in a research report on Thursday. Finally, Mizuho lowered their price objective on shares of UnitedHealth Group from $515.00 to $350.00 and set an “outperform” rating on the stock in a research report on Friday, May 16th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and fifteen have given a buy rating to the company’s stock. According to data from MarketBeat, UnitedHealth Group has a consensus rating of “Moderate Buy” and a consensus price target of $394.43.

Insider Buying and Selling at UnitedHealth Group

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

UnitedHealth Group Stock Performance

Shares of UNH opened at $282.45 on Friday. The company’s fifty day moving average is $304.47 and its 200-day moving average is $433.39. UnitedHealth Group Incorporated has a 12 month low of $248.88 and a 12 month high of $630.73. The firm has a market cap of $256.22 billion, a price-to-earnings ratio of 11.83, a price-to-earnings-growth ratio of 1.41 and a beta of 0.45. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.71.

UnitedHealth Group (NYSE:UNH) last announced its quarterly earnings results on Thursday, April 17th. The healthcare conglomerate reported $7.20 EPS for the quarter, missing the consensus estimate of $7.29 by ($0.09). The business had revenue of $109.58 billion for the quarter, compared to analyst estimates of $111.56 billion. UnitedHealth Group had a return on equity of 26.29% and a net margin of 5.39%. During the same quarter last year, the company earned $6.91 EPS. Equities analysts expect that UnitedHealth Group Incorporated will post 29.54 EPS for the current fiscal year.

UnitedHealth Group Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 24th. Investors of record on Monday, June 16th were issued a dividend of $2.21 per share. This is an increase from UnitedHealth Group’s previous quarterly dividend of $2.10. This represents a $8.84 annualized dividend and a dividend yield of 3.13%. The ex-dividend date of this dividend was Monday, June 16th. UnitedHealth Group’s dividend payout ratio is currently 37.02%.

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.