Portside Wealth Group LLC Has $510,000 Stake in UnitedHealth Group Incorporated $UNH

Portside Wealth Group LLC lessened its holdings in shares of UnitedHealth Group Incorporated (NYSE:UNH) by 72.9% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,636 shares of the healthcare conglomerate’s stock after selling 4,407 shares during the quarter. Portside Wealth Group LLC’s holdings in UnitedHealth Group were worth $510,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Vanguard Group Inc. boosted its stake in 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 purchasing an additional 5,583,343 shares during the last quarter. Wellington Management Group LLP boosted its position in shares of 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 buying an additional 2,486,839 shares during the last quarter. Geode Capital Management LLC grew its holdings in UnitedHealth Group by 3.3% during 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. Nuveen LLC purchased a new position in UnitedHealth Group during the 1st quarter worth $3,846,764,000. Finally, Charles Schwab Investment Management Inc. grew its stake in shares of UnitedHealth Group by 13.6% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 7,070,385 shares of the healthcare conglomerate’s stock worth $3,702,736,000 after acquiring an additional 847,054 shares in the last quarter. 87.86% of the stock is owned by institutional investors.

UnitedHealth Group Trading Down 2.1%

Shares of UNH opened at $313.77 on Wednesday. The firm has a market cap of $284.22 billion, a P/E ratio of 16.38, a price-to-earnings-growth ratio of 2.28 and a beta of 0.47. UnitedHealth Group Incorporated has a fifty-two week low of $234.60 and a fifty-two week high of $622.83. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.85 and a current ratio of 0.82. The business has a 50-day moving average of $346.96 and a 200 day moving average of $317.63.

UnitedHealth Group (NYSE:UNH) last issued its earnings results on Tuesday, October 28th. The healthcare conglomerate reported $2.92 earnings per share for the quarter, topping analysts’ consensus estimates of $2.87 by $0.05. The firm had revenue of $113.16 billion during the quarter, compared to analyst estimates of $113.19 billion. UnitedHealth Group had a net margin of 4.04% and a return on equity of 19.23%. The company’s quarterly revenue was up 12.2% on a year-over-year basis. During the same quarter last year, the business earned $7.15 earnings per share. As a group, research analysts forecast 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. Shareholders of record on Monday, December 8th will be given a dividend of $2.21 per share. The ex-dividend date is Monday, December 8th. This represents a $8.84 annualized dividend and a dividend yield of 2.8%. UnitedHealth Group’s dividend payout ratio is currently 46.14%.

Analysts Set New Price Targets

Several research analysts recently weighed in on UNH shares. KeyCorp boosted their price target on shares of UnitedHealth Group from $350.00 to $400.00 and gave the stock an “overweight” rating in a report on Wednesday, October 8th. Piper Sandler reduced their target price on UnitedHealth Group from $423.00 to $417.00 and set an “overweight” rating for the company in a report on Tuesday, October 28th. The Goldman Sachs Group assumed coverage on UnitedHealth Group in a report on Tuesday, October 14th. They set a “buy” rating and a $406.00 price target on the stock. Truist Financial raised their target price on UnitedHealth Group from $310.00 to $365.00 and gave the company a “buy” rating in a research report on Tuesday, September 9th. Finally, Leerink Partners set a $410.00 price target on shares of UnitedHealth Group and gave the stock an “outperform” rating in a report on Wednesday, October 29th. Eighteen equities research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and three have given a Sell rating to the company’s stock. Based on data from MarketBeat, UnitedHealth Group currently has an average 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.