UnitedHealth Group Incorporated (NYSE:UNH) Shares Bought by Patten & Patten Inc. TN

Patten & Patten Inc. TN raised its holdings in UnitedHealth Group Incorporated (NYSE:UNH) by 1.8% in the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 41,008 shares of the healthcare conglomerate’s stock after acquiring an additional 731 shares during the period. UnitedHealth Group accounts for about 1.4% of Patten & Patten Inc. TN’s holdings, making the stock its 13th biggest position. Patten & Patten Inc. TN’s holdings in UnitedHealth Group were worth $21,478,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the business. Financial Management Professionals Inc. increased its holdings in shares of UnitedHealth Group by 0.8% during the 1st quarter. Financial Management Professionals Inc. now owns 2,224 shares of the healthcare conglomerate’s stock worth $1,165,000 after buying an additional 17 shares during the last quarter. Global Wealth Strategies & Associates increased its holdings in shares of UnitedHealth Group by 28.6% during the 1st quarter. Global Wealth Strategies & Associates now owns 90 shares of the healthcare conglomerate’s stock worth $47,000 after buying an additional 20 shares during the last quarter. Kolinsky Wealth Management LLC increased its holdings in shares of UnitedHealth Group by 1.0% during the 4th quarter. Kolinsky Wealth Management LLC now owns 2,135 shares of the healthcare conglomerate’s stock worth $1,080,000 after buying an additional 21 shares during the last quarter. Retirement Planning Group LLC increased its holdings in UnitedHealth Group by 5.1% in the 1st quarter. Retirement Planning Group LLC now owns 430 shares of the healthcare conglomerate’s stock valued at $225,000 after purchasing an additional 21 shares in the last quarter. Finally, Net Worth Advisory Group increased its holdings in UnitedHealth Group by 0.6% in the 1st quarter. Net Worth Advisory Group now owns 3,642 shares of the healthcare conglomerate’s stock valued at $1,907,000 after purchasing an additional 21 shares in the last quarter. 87.86% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, Director Timothy Patrick Flynn purchased 1,533 shares of the company’s stock in a transaction on Wednesday, May 14th. The shares were bought at an average price of $320.80 per share, for a total transaction of $491,786.40. Following the completion of the purchase, the director owned 6,033 shares of the company’s stock, valued at $1,935,386.40. This trade represents a 34.07% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO John F. Rex acquired 17,175 shares of the stock in a transaction that occurred on Friday, May 16th. The shares were bought at an average price of $291.12 per share, for a total transaction of $4,999,986.00. Following the purchase, the chief financial officer directly owned 203,796 shares of the company’s stock, valued at approximately $59,329,091.52. This trade represents a 9.20% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have acquired 109,408 shares of company stock valued at $31,607,768 in the last ninety days. Insiders own 0.28% of the company’s stock.

UnitedHealth Group Price Performance

UNH opened at $280.69 on Monday. The firm has a market cap of $254.62 billion, a price-to-earnings ratio of 11.75, a price-to-earnings-growth ratio of 1.39 and a beta of 0.45. UnitedHealth Group Incorporated has a fifty-two week low of $248.88 and a fifty-two week high of $630.73. The company’s 50-day moving average price is $301.58 and its 200 day moving average price is $424.22. 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 Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 24th. Investors of record on Monday, June 16th were paid a dividend of $2.21 per share. This is a positive change from UnitedHealth Group’s previous quarterly dividend of $2.10. The ex-dividend date of this dividend was Monday, June 16th. This represents a $8.84 annualized dividend and a yield of 3.15%. UnitedHealth Group’s dividend payout ratio is 37.02%.

Wall Street Analyst Weigh In

Several analysts recently issued reports on UNH shares. Bank of America downgraded UnitedHealth Group from a “buy” rating to a “neutral” rating and lowered their price target for the company from $560.00 to $350.00 in a report on Wednesday, May 14th. Oppenheimer lowered their price target on UnitedHealth Group from $600.00 to $400.00 and set an “outperform” rating for the company in a report on Wednesday, May 14th. Erste Group Bank cut shares of UnitedHealth Group from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, April 30th. Hsbc Global Res cut shares of UnitedHealth Group from a “hold” rating to a “moderate sell” rating in a research report on Wednesday, May 21st. Finally, KeyCorp decreased their price objective on shares of UnitedHealth Group from $450.00 to $400.00 and set an “overweight” rating for the company in a research report on Monday, June 2nd. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and fifteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $392.29.

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.