Bornite Capital Management LP Reduces Holdings in UnitedHealth Group Incorporated (NYSE:UNH)

Bornite Capital Management LP decreased its stake in shares of UnitedHealth Group Incorporated (NYSE:UNH) by 33.3% during the first quarter, according to its most recent filing with the SEC. The institutional investor owned 20,000 shares of the healthcare conglomerate’s stock after selling 10,000 shares during the period. UnitedHealth Group accounts for 1.7% of Bornite Capital Management LP’s investment portfolio, making the stock its 24th largest position. Bornite Capital Management LP’s holdings in UnitedHealth Group were worth $9,894,000 as of its most recent filing with the SEC.

A number of other institutional investors have also added to or reduced their stakes in the stock. Delos Wealth Advisors LLC increased its stake in UnitedHealth Group by 757.1% in the 1st quarter. Delos Wealth Advisors LLC now owns 60 shares of the healthcare conglomerate’s stock worth $30,000 after acquiring an additional 53 shares during the last quarter. True Wealth Design LLC bought a new position in UnitedHealth Group in the 4th quarter worth about $31,000. LFA Lugano Financial Advisors SA increased its stake in UnitedHealth Group by 148.1% in the 4th quarter. LFA Lugano Financial Advisors SA now owns 67 shares of the healthcare conglomerate’s stock worth $35,000 after acquiring an additional 40 shares during the last quarter. Red Tortoise LLC increased its stake in UnitedHealth Group by 45.1% in the 1st quarter. Red Tortoise LLC now owns 74 shares of the healthcare conglomerate’s stock worth $36,000 after acquiring an additional 23 shares during the last quarter. Finally, Ruedi Wealth Management Inc. increased its stake in UnitedHealth Group by 58.3% in the 1st quarter. Ruedi Wealth Management Inc. now owns 76 shares of the healthcare conglomerate’s stock worth $38,000 after acquiring an additional 28 shares during the last quarter. Hedge funds and other institutional investors own 87.86% of the company’s stock.

Insider Buying and Selling

In other UnitedHealth Group news, EVP Erin Mcsweeney sold 1,500 shares of the business’s stock in a transaction that occurred on Thursday, July 18th. The stock was sold at an average price of $579.03, for a total transaction of $868,545.00. Following the sale, the executive vice president now directly owns 7,785 shares of the company’s stock, valued at $4,507,748.55. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, EVP Erin Mcsweeney sold 1,500 shares of the company’s stock in a transaction that occurred on Thursday, July 18th. The stock was sold at an average price of $579.03, for a total transaction of $868,545.00. Following the transaction, the executive vice president now owns 7,785 shares of the company’s stock, valued at $4,507,748.55. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CAO Thomas E. Roos sold 2,851 shares of the company’s stock in a transaction that occurred on Wednesday, July 17th. The shares were sold at an average price of $569.88, for a total value of $1,624,727.88. Following the transaction, the chief accounting officer now directly owns 29,501 shares in the company, valued at approximately $16,812,029.88. The disclosure for this sale can be found here. 0.33% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the company. Morgan Stanley increased their price objective on UnitedHealth Group from $595.00 to $615.00 and gave the company an “overweight” rating in a research report on Wednesday, July 17th. Robert W. Baird lifted their price objective on UnitedHealth Group from $597.00 to $640.00 and gave the company an “outperform” rating in a research note on Wednesday, July 17th. Wells Fargo & Company lifted their target price on UnitedHealth Group from $525.00 to $630.00 and gave the stock an “overweight” rating in a report on Wednesday, July 17th. TD Cowen lifted their price objective on UnitedHealth Group from $546.00 to $601.00 and gave the stock a “buy” rating in a report on Wednesday, July 17th. Finally, Jefferies Financial Group raised UnitedHealth Group from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $481.00 to $647.00 in a report on Wednesday, July 17th. One investment analyst has rated the stock with a hold rating, nineteen have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, UnitedHealth Group has an average rating of “Buy” and a consensus price target of $614.17.

UnitedHealth Group Price Performance

Shares of UnitedHealth Group stock traded down $2.97 during trading hours on Monday, hitting $566.75. The company’s stock had a trading volume of 2,888,026 shares, compared to its average volume of 4,303,748. The business has a 50 day moving average price of $509.81 and a two-hundred day moving average price of $501.38. UnitedHealth Group Incorporated has a 12-month low of $436.38 and a 12-month high of $581.50. The company has a market cap of $521.63 billion, a PE ratio of 34.64, a PEG ratio of 1.59 and a beta of 0.60. The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.85 and a current ratio of 0.88.

UnitedHealth Group (NYSE:UNH) last announced its quarterly earnings data on Tuesday, July 16th. The healthcare conglomerate reported $6.80 EPS for the quarter, beating the consensus estimate of $6.66 by $0.14. UnitedHealth Group had a return on equity of 26.55% and a net margin of 3.66%. The business had revenue of $98.86 billion for the quarter, compared to the consensus estimate of $98.73 billion. During the same period in the previous year, the business earned $6.14 earnings per share. The business’s revenue was up 6.4% on a year-over-year basis. Analysts expect that UnitedHealth Group Incorporated will post 27.68 earnings per share for the current fiscal year.

UnitedHealth Group Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 25th. Investors of record on Monday, June 17th were given a $2.10 dividend. This is an increase from UnitedHealth Group’s previous quarterly dividend of $1.88. This represents a $8.40 dividend on an annualized basis and a dividend yield of 1.48%. The ex-dividend date was Monday, June 17th. UnitedHealth Group’s payout ratio is currently 51.34%.

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.