State of Michigan Retirement System Decreases Stock Holdings in UnitedHealth Group Incorporated $UNH

State of Michigan Retirement System trimmed its stake in shares of UnitedHealth Group Incorporated (NYSE:UNH) by 1.1% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 256,819 shares of the healthcare conglomerate’s stock after selling 2,900 shares during the period. State of Michigan Retirement System’s holdings in UnitedHealth Group were worth $80,120,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Atlantic Edge Private Wealth Management LLC boosted its stake in shares of UnitedHealth Group by 8.9% in the first quarter. Atlantic Edge Private Wealth Management LLC now owns 305 shares of the healthcare conglomerate’s stock worth $160,000 after acquiring an additional 25 shares during the last quarter. HHM Wealth Advisors LLC raised its position in shares of UnitedHealth Group by 0.9% in the first quarter. HHM Wealth Advisors LLC now owns 2,947 shares of the healthcare conglomerate’s stock valued at $1,544,000 after buying an additional 26 shares during the last quarter. Brogan Financial Inc. boosted its position in UnitedHealth Group by 3.4% during the first quarter. Brogan Financial Inc. now owns 819 shares of the healthcare conglomerate’s stock worth $429,000 after acquiring an additional 27 shares during the last quarter. West Wealth Group LLC grew its stake in UnitedHealth Group by 3.2% during the 1st quarter. West Wealth Group LLC now owns 882 shares of the healthcare conglomerate’s stock valued at $462,000 after acquiring an additional 27 shares in the last quarter. Finally, Hemington Wealth Management lifted its stake in UnitedHealth Group by 2.5% in the 1st quarter. Hemington Wealth Management now owns 1,154 shares of the healthcare conglomerate’s stock worth $604,000 after purchasing an additional 28 shares in the last quarter. 87.86% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages recently commented on UNH. Morgan Stanley lifted their price objective on UnitedHealth Group from $325.00 to $395.00 and gave the stock an “overweight” rating in a research report on Friday, September 12th. Royal Bank Of Canada lifted their price target on UnitedHealth Group from $286.00 to $408.00 and gave the stock an “outperform” rating in a report on Wednesday. Zacks Research raised shares of UnitedHealth Group from a “strong sell” rating to a “hold” rating in a research note on Monday, October 6th. TD Cowen raised their price target on shares of UnitedHealth Group from $335.00 to $338.00 and gave the stock a “hold” rating in a report on Thursday. Finally, JPMorgan Chase & Co. raised their target price on UnitedHealth Group from $310.00 to $425.00 and gave the stock an “overweight” rating in a research note on Thursday, October 9th. Eighteen equities research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat, UnitedHealth Group currently has an average rating of “Moderate Buy” and an average target price of $397.12.

UnitedHealth Group Stock Down 1.0%

Shares of NYSE UNH opened at $341.46 on Friday. UnitedHealth Group Incorporated has a 52-week low of $234.60 and a 52-week high of $630.73. The business’s 50 day moving average is $343.51 and its two-hundred day moving average is $327.62. The firm has a market cap 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 company has a quick ratio of 0.85, a current ratio of 0.82 and a debt-to-equity ratio of 0.71.

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

UnitedHealth Group Dividend Announcement

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

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.