Bar Harbor Wealth Management Has $5.64 Million Position in UnitedHealth Group Incorporated (NYSE:UNH)

Bar Harbor Wealth Management lowered its stake in UnitedHealth Group Incorporated (NYSE:UNH) by 8.4% during the first quarter, HoldingsChannel.com reports. The firm owned 10,776 shares of the healthcare conglomerate’s stock after selling 992 shares during the period. Bar Harbor Wealth Management’s holdings in UnitedHealth Group were worth $5,644,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in UNH. Financial Management Professionals Inc. increased its position in UnitedHealth Group by 0.8% during the 1st quarter. Financial Management Professionals Inc. now owns 2,224 shares of the healthcare conglomerate’s stock valued at $1,165,000 after purchasing an additional 17 shares during the period. Richwood Investment Advisors LLC grew its stake in shares of UnitedHealth Group by 0.4% in the 4th quarter. Richwood Investment Advisors LLC now owns 5,247 shares of the healthcare conglomerate’s stock worth $2,654,000 after buying an additional 20 shares during the last quarter. Global Wealth Strategies & Associates increased its stake in UnitedHealth Group by 28.6% during the 1st quarter. Global Wealth Strategies & Associates now owns 90 shares of the healthcare conglomerate’s stock valued at $47,000 after purchasing an additional 20 shares in the last quarter. Prentice Wealth Management LLC raised its holdings in UnitedHealth Group by 0.8% in the 4th quarter. Prentice Wealth Management LLC now owns 2,527 shares of the healthcare conglomerate’s stock worth $1,278,000 after acquiring an additional 21 shares during the last quarter. Finally, 44 Wealth Management LLC lifted its holdings in shares of UnitedHealth Group by 1.6% during the fourth quarter. 44 Wealth Management LLC now owns 1,309 shares of the healthcare conglomerate’s stock valued at $662,000 after purchasing an additional 21 shares in the last quarter. 87.86% of the stock is owned by institutional investors and hedge funds.

UnitedHealth Group Trading Up 2.4%

NYSE:UNH opened at $318.14 on Friday. UnitedHealth Group Incorporated has a 52 week low of $248.88 and a 52 week high of $630.73. The company has a quick ratio of 0.91, a current ratio of 0.83 and a debt-to-equity ratio of 0.74. The stock has a market capitalization of $288.60 billion, a price-to-earnings ratio of 20.53, a PEG ratio of 1.37 and a beta of 0.45. The firm has a 50 day moving average of $391.47 and a 200 day moving average of $476.22.

UnitedHealth Group (NYSE:UNH) last posted 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 company had revenue of $109.58 billion for the quarter, compared to analysts’ expectations of $111.56 billion. UnitedHealth Group had a return on equity of 26.69% and a net margin of 3.60%. During the same quarter in the prior year, the firm earned $6.91 EPS. As a group, sell-side analysts anticipate that UnitedHealth Group Incorporated will post 29.54 earnings per share for the current fiscal year.

UnitedHealth Group Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 24th. Shareholders of record on Monday, June 16th will be given a $2.21 dividend. This is an increase from UnitedHealth Group’s previous quarterly dividend of $2.10. This represents a $8.84 annualized dividend and a yield of 2.78%. The ex-dividend date is Monday, June 16th. UnitedHealth Group’s payout ratio is currently 37.02%.

Insiders Place Their Bets

In other news, CFO John F. Rex acquired 17,175 shares of the company’s stock in a transaction on Friday, May 16th. The shares were bought at an average cost of $291.12 per share, with a total value of $4,999,986.00. Following the purchase, the chief financial officer now owns 203,796 shares of the company’s stock, valued at $59,329,091.52. This represents a 9.20% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Patrick Hugh Conway sold 589 shares of UnitedHealth Group stock in a transaction that occurred on Tuesday, June 10th. The shares were sold at an average price of $305.00, for a total value of $179,645.00. Following the completion of the sale, the chief executive officer now directly owns 10,398 shares in the company, valued at $3,171,390. This represents a 5.36% decrease in their position. The disclosure for this sale can be found here. Insiders have acquired a total of 109,408 shares of company stock worth $31,607,768 in the last ninety days. 0.28% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

UNH has been the topic of several research reports. Deutsche Bank Aktiengesellschaft dropped their target price on shares of UnitedHealth Group from $521.00 to $362.00 and set a “buy” rating on the stock in a report on Wednesday, May 14th. Erste Group Bank downgraded shares of UnitedHealth Group from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, April 30th. Bank of America lowered shares of UnitedHealth Group from a “buy” rating to a “neutral” rating and cut their price objective for the company from $560.00 to $350.00 in a report on Wednesday, May 14th. Oppenheimer decreased their target price on UnitedHealth Group from $600.00 to $400.00 and set an “outperform” rating on the stock in a research report on Wednesday, May 14th. Finally, Wall Street Zen downgraded shares of UnitedHealth Group from a “buy” rating to a “hold” rating in a report on Saturday, May 24th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and sixteen have assigned a buy rating to the company. According to data from MarketBeat.com, UnitedHealth Group has an average rating of “Moderate Buy” and a consensus target price of $426.52.

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.