Pinnacle Associates Ltd. Lowers Holdings in UnitedHealth Group Incorporated $UNH

Pinnacle Associates Ltd. lowered its holdings in UnitedHealth Group Incorporated (NYSE:UNH) by 6.4% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 34,971 shares of the healthcare conglomerate’s stock after selling 2,402 shares during the quarter. Pinnacle Associates Ltd.’s holdings in UnitedHealth Group were worth $10,910,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. Amplius Wealth Advisors LLC lifted its holdings in UnitedHealth Group by 281.8% in the second quarter. Amplius Wealth Advisors LLC now owns 4,104 shares of the healthcare conglomerate’s stock valued at $1,280,000 after acquiring an additional 3,029 shares during the period. Mesirow Financial Investment Management Inc. lifted its holdings in UnitedHealth Group by 18.2% in the second quarter. Mesirow Financial Investment Management Inc. now owns 58,146 shares of the healthcare conglomerate’s stock valued at $18,141,000 after acquiring an additional 8,966 shares during the period. UNIVEST FINANCIAL Corp lifted its holdings in UnitedHealth Group by 4.1% in the second quarter. UNIVEST FINANCIAL Corp now owns 34,211 shares of the healthcare conglomerate’s stock valued at $10,673,000 after acquiring an additional 1,341 shares during the period. Buckhead Capital Management LLC raised its stake in shares of UnitedHealth Group by 7.5% during the 2nd quarter. Buckhead Capital Management LLC now owns 15,764 shares of the healthcare conglomerate’s stock worth $4,918,000 after buying an additional 1,096 shares during the last quarter. Finally, Simon Quick Advisors LLC raised its stake in shares of UnitedHealth Group by 70.3% during the 2nd quarter. Simon Quick Advisors LLC now owns 10,864 shares of the healthcare conglomerate’s stock worth $3,389,000 after buying an additional 4,483 shares during the last quarter. Institutional investors and hedge funds own 87.86% of the company’s stock.

UnitedHealth Group Trading Down 1.0%

Shares of UNH stock opened at $341.46 on Friday. The company has a current ratio of 0.82, a quick ratio of 0.85 and a debt-to-equity ratio of 0.71. The company has a market capitalization of $309.25 billion, a price-to-earnings ratio of 17.82, a PEG ratio of 2.28 and a beta of 0.47. The firm has a 50-day moving average price of $343.51 and a 200 day moving average price of $329.40. UnitedHealth Group Incorporated has a twelve month low of $234.60 and a twelve month high of $630.73.

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

UnitedHealth Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 23rd. Shareholders of record on Monday, September 15th were issued a $2.21 dividend. The ex-dividend date was Monday, September 15th. This represents a $8.84 annualized dividend and a yield of 2.6%. UnitedHealth Group’s payout ratio is 46.14%.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on UNH shares. TD Cowen lifted their price target on UnitedHealth Group from $335.00 to $338.00 and gave the stock a “hold” rating in a research note on Thursday. Truist Financial lifted their price target on UnitedHealth Group from $310.00 to $365.00 and gave the stock a “buy” rating in a research note on Tuesday, September 9th. JPMorgan Chase & Co. lifted their price target on UnitedHealth Group from $310.00 to $425.00 and gave the stock an “overweight” rating in a research note on Thursday, October 9th. Bank of America boosted their target price on shares of UnitedHealth Group from $350.00 to $390.00 and gave the company a “neutral” rating in a research note on Wednesday, October 8th. Finally, Robert W. Baird reissued an “underperform” rating and issued a $198.00 target price (down previously from $312.00) on shares of UnitedHealth Group in a research note on Thursday, July 31st. Eighteen research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $397.12.

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.