W.H. Cornerstone Investments Inc. Cuts Stock Position in UnitedHealth Group Incorporated $UNH

W.H. Cornerstone Investments Inc. lessened its stake in shares of UnitedHealth Group Incorporated (NYSE:UNH) by 33.3% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 664 shares of the healthcare conglomerate’s stock after selling 331 shares during the quarter. W.H. Cornerstone Investments Inc.’s holdings in UnitedHealth Group were worth $207,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the business. Good Life Advisors LLC increased its holdings in UnitedHealth Group by 396.7% during the 2nd quarter. Good Life Advisors LLC now owns 4,883 shares of the healthcare conglomerate’s stock valued at $1,524,000 after acquiring an additional 3,900 shares in the last quarter. ABN Amro Investment Solutions purchased a new position in shares of UnitedHealth Group during the 2nd quarter valued at approximately $10,362,000. Cherokee Insurance Co bought a new stake in shares of UnitedHealth Group in the 2nd quarter worth approximately $1,809,000. Police & Firemen s Retirement System of New Jersey increased its stake in shares of UnitedHealth Group by 3.2% in the second quarter. Police & Firemen s Retirement System of New Jersey now owns 138,189 shares of the healthcare conglomerate’s stock valued at $43,111,000 after purchasing an additional 4,254 shares during the period. Finally, Geode Capital Management LLC raised its position in shares of UnitedHealth Group by 3.3% during the 2nd quarter. Geode Capital Management LLC now owns 21,312,182 shares of the healthcare conglomerate’s stock worth $6,624,411,000 after buying an additional 675,075 shares in the last quarter. 87.86% of the stock is owned by hedge funds and other institutional investors.

UnitedHealth Group Trading Down 0.7%

Shares of UnitedHealth Group stock traded down $2.49 on Thursday, hitting $336.57. The stock had a trading volume of 2,128,485 shares, compared to its average volume of 12,239,969. The stock’s 50-day simple moving average is $347.08 and its two-hundred day simple moving average is $320.66. UnitedHealth Group Incorporated has a one year low of $234.60 and a one year high of $622.83. The company has a quick ratio of 0.85, a current ratio of 0.82 and a debt-to-equity ratio of 0.71. The stock has a market cap of $304.88 billion, a price-to-earnings ratio of 17.56, a PEG ratio of 2.28 and a beta of 0.47.

UnitedHealth Group (NYSE:UNH) last announced its quarterly earnings data on Tuesday, October 28th. The healthcare conglomerate reported $2.92 EPS for the quarter, beating the consensus estimate of $2.87 by $0.05. UnitedHealth Group had a return on equity of 19.23% and a net margin of 4.04%.The business had revenue of $113.16 billion during the quarter, compared to analyst estimates of $113.19 billion. During the same quarter last year, the firm posted $7.15 earnings per share. The company’s revenue for the quarter was up 12.2% on a year-over-year basis. As a group, sell-side analysts predict that UnitedHealth Group Incorporated will post 29.54 EPS for the current year.

UnitedHealth Group Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 16th. Stockholders of record on Monday, December 8th will be given a dividend of $2.21 per share. The ex-dividend date of this dividend is Monday, December 8th. This represents a $8.84 dividend on an annualized basis and a dividend yield of 2.6%. UnitedHealth Group’s dividend payout ratio (DPR) is 46.14%.

Wall Street Analyst Weigh In

UNH has been the topic of several research reports. JPMorgan Chase & Co. upped their target price on UnitedHealth Group from $310.00 to $425.00 and gave the stock an “overweight” rating in a research report on Thursday, October 9th. Royal Bank Of Canada increased their price target on UnitedHealth Group from $286.00 to $408.00 and gave the company an “outperform” rating in a research note on Wednesday, October 29th. Truist Financial raised their price objective on UnitedHealth Group from $310.00 to $365.00 and gave the stock a “buy” rating in a research note on Tuesday, September 9th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $440.00 price objective on shares of UnitedHealth Group in a report on Tuesday, August 26th. Finally, Wells Fargo & Company increased their price objective on shares of UnitedHealth Group from $267.00 to $400.00 and gave the company an “overweight” rating in a research report on Tuesday, October 7th. Eighteen investment analysts have rated the stock with a Buy rating, nine have given a Hold rating and three have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $397.12.

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.