Granite Harbor Advisors Inc. Grows Position in UnitedHealth Group Incorporated $UNH

Granite Harbor Advisors Inc. lifted its stake in shares of UnitedHealth Group Incorporated (NYSE:UNH) by 16.4% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 1,302 shares of the healthcare conglomerate’s stock after purchasing an additional 183 shares during the quarter. Granite Harbor Advisors Inc.’s holdings in UnitedHealth Group were worth $682,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Marshall & Sterling Wealth Advisors Inc. purchased a new stake in UnitedHealth Group during the fourth quarter worth $26,000. Bayforest Capital Ltd boosted its position in shares of UnitedHealth Group by 685.7% in the 1st quarter. Bayforest Capital Ltd now owns 55 shares of the healthcare conglomerate’s stock worth $29,000 after buying an additional 48 shares in the last quarter. Clal Insurance Enterprises Holdings Ltd raised its position in UnitedHealth Group by 416.7% during the first quarter. Clal Insurance Enterprises Holdings Ltd now owns 62 shares of the healthcare conglomerate’s stock worth $32,000 after acquiring an additional 50 shares during the last quarter. Kapitalo Investimentos Ltda acquired a new stake in shares of UnitedHealth Group in the fourth quarter valued at approximately $41,000. Finally, Copia Wealth Management purchased a new stake in UnitedHealth Group in the 4th quarter valued at approximately $42,000. Institutional investors and hedge funds own 87.86% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently commented on UNH. Oppenheimer lowered their price objective on UnitedHealth Group from $400.00 to $325.00 and set an “outperform” rating for the company in a research report on Wednesday, July 30th. KeyCorp cut their price objective on shares of UnitedHealth Group from $400.00 to $350.00 and set an “overweight” rating on the stock in a report on Wednesday, July 30th. Royal Bank Of Canada dropped their price target on shares of UnitedHealth Group from $355.00 to $286.00 and set an “outperform” rating for the company in a research report on Wednesday, July 30th. Mizuho lowered their price objective on shares of UnitedHealth Group from $515.00 to $350.00 and set an “outperform” rating for the company in a research note on Friday, May 16th. Finally, Truist Financial reduced their target price on UnitedHealth Group from $360.00 to $345.00 and set a “buy” rating on the stock in a report on Wednesday, July 16th. Three analysts have rated the stock with a sell rating, seven have issued a hold rating and fifteen have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $366.52.

Insider Buying and Selling at UnitedHealth Group

In related news, CEO Patrick Hugh Conway sold 589 shares of the firm’s stock in a transaction that occurred on Tuesday, June 10th. The stock was sold at an average price of $305.00, for a total value of $179,645.00. Following the sale, the chief executive officer directly owned 10,398 shares in the company, valued at $3,171,390. This trade represents a 5.36% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 0.28% of the company’s stock.

UnitedHealth Group Stock Performance

UnitedHealth Group stock opened at $304.02 on Monday. The company has a fifty day moving average price of $288.91 and a two-hundred day moving average price of $395.81. The company has a debt-to-equity ratio of 0.73, a current ratio of 0.85 and a quick ratio of 0.85. UnitedHealth Group Incorporated has a 12 month low of $234.60 and a 12 month high of $630.73. The company has a market cap of $275.34 billion, a PE ratio of 13.17, a P/E/G ratio of 1.96 and a beta of 0.43.

UnitedHealth Group (NYSE:UNH) last issued its earnings results on Tuesday, July 29th. The healthcare conglomerate reported $4.08 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $4.45 by ($0.37). The business had revenue of $111.62 billion during the quarter, compared to the consensus estimate of $111.75 billion. UnitedHealth Group had a return on equity of 23.32% and a net margin of 5.04%. The business’s revenue was up 12.9% on a year-over-year basis. During the same period in the prior year, the business earned $6.80 EPS. Research analysts expect that UnitedHealth Group Incorporated will post 29.54 earnings per share for the current year.

UnitedHealth Group Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 23rd. Stockholders of record on Monday, September 15th will be issued a dividend of $2.21 per share. This represents a $8.84 dividend on an annualized basis and a dividend yield of 2.9%. The ex-dividend date of this dividend is Monday, September 15th. UnitedHealth Group’s payout ratio is 38.30%.

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.