Centric Wealth Management Boosts Stake in UnitedHealth Group Incorporated $UNH

Centric Wealth Management raised its position in shares of UnitedHealth Group Incorporated (NYSE:UNH) by 1,344.4% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 53,109 shares of the healthcare conglomerate’s stock after purchasing an additional 49,432 shares during the quarter. UnitedHealth Group accounts for approximately 3.9% of Centric Wealth Management’s holdings, making the stock its 3rd biggest position. Centric Wealth Management’s holdings in UnitedHealth Group were worth $16,568,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in UNH. Vanguard Group Inc. grew its position in shares of UnitedHealth Group by 6.6% during the 1st quarter. Vanguard Group Inc. now owns 90,729,585 shares of the healthcare conglomerate’s stock valued at $47,519,620,000 after acquiring an additional 5,583,343 shares during the period. Wellington Management Group LLP lifted its position in UnitedHealth Group by 10.6% during the first quarter. Wellington Management Group LLP now owns 25,847,940 shares of the healthcare conglomerate’s stock valued at $13,537,859,000 after purchasing an additional 2,486,839 shares in the last quarter. Geode Capital Management LLC increased its position in UnitedHealth Group by 3.3% in the second 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. Charles Schwab Investment Management Inc. lifted its position in shares of UnitedHealth Group by 6.1% during the 2nd quarter. Charles Schwab Investment Management Inc. now owns 7,502,469 shares of the healthcare conglomerate’s stock valued at $2,340,346,000 after buying an additional 432,084 shares in the last quarter. Finally, Nuveen LLC bought a new stake in UnitedHealth Group during the 1st quarter worth approximately $3,846,764,000. 87.86% of the stock is owned by hedge funds and other institutional investors.

UnitedHealth Group Trading Up 2.5%

UNH stock opened at $319.40 on Friday. The firm has a market cap of $289.32 billion, a PE ratio of 16.67, a price-to-earnings-growth ratio of 2.28 and a beta of 0.47. The firm has a fifty day moving average price of $344.69 and a 200 day moving average price of $316.39. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.85 and a current ratio of 0.82. UnitedHealth Group Incorporated has a fifty-two week low of $234.60 and a fifty-two week high of $622.83.

UnitedHealth Group (NYSE:UNH) last issued its quarterly earnings data on Tuesday, October 28th. The healthcare conglomerate reported $2.92 EPS for the quarter, topping analysts’ consensus estimates of $2.87 by $0.05. UnitedHealth Group had a net margin of 4.04% and a return on equity of 19.23%. The business had revenue of $113.16 billion during the quarter, compared to analysts’ expectations of $113.19 billion. During the same period last year, the company posted $7.15 EPS. The business’s revenue was up 12.2% on a year-over-year basis. Sell-side analysts anticipate that UnitedHealth Group Incorporated will post 29.54 earnings per share for the current fiscal 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 annualized dividend and a dividend yield of 2.8%. UnitedHealth Group’s payout ratio is currently 46.14%.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the stock. Robert W. Baird reissued an “underperform” rating and issued a $198.00 price objective (down from $312.00) on shares of UnitedHealth Group in a research note on Thursday, July 31st. Deutsche Bank Aktiengesellschaft downgraded UnitedHealth Group from a “buy” rating to a “hold” rating and set a $333.00 price objective on the stock. in a research report on Wednesday, October 29th. Barclays lifted their target price on UnitedHealth Group from $352.00 to $386.00 and gave the company an “overweight” rating in a research note on Thursday, October 9th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $440.00 price objective on shares of UnitedHealth Group in a report on Tuesday, August 26th. Finally, Truist Financial upped their target price on shares of UnitedHealth Group from $310.00 to $365.00 and gave the stock a “buy” rating in a research report on Tuesday, September 9th. Eighteen analysts have rated the stock with a Buy rating, nine have issued a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $397.12.

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.