REDW Wealth LLC Cuts Stock Position in UnitedHealth Group Incorporated (NYSE:UNH)

REDW Wealth LLC lessened its holdings in UnitedHealth Group Incorporated (NYSE:UNH) by 8.8% in the third quarter, according to its most recent filing with the SEC. The institutional investor owned 802 shares of the healthcare conglomerate’s stock after selling 77 shares during the period. REDW Wealth LLC’s holdings in UnitedHealth Group were worth $469,000 as of its most recent SEC filing.

A number of other institutional investors have also bought and sold shares of UNH. Kathleen S. Wright Associates Inc. purchased a new position in shares of UnitedHealth Group during the third quarter valued at about $27,000. Global Wealth Strategies & Associates grew its position in shares of UnitedHealth Group by 152.4% during the third quarter. Global Wealth Strategies & Associates now owns 53 shares of the healthcare conglomerate’s stock valued at $31,000 after purchasing an additional 32 shares in the last quarter. Macroview Investment Management LLC grew its position in shares of UnitedHealth Group by 671.4% during the second quarter. Macroview Investment Management LLC now owns 54 shares of the healthcare conglomerate’s stock valued at $28,000 after purchasing an additional 47 shares in the last quarter. West Financial Advisors LLC bought a new position in shares of UnitedHealth Group in the 3rd quarter valued at about $32,000. Finally, Delos Wealth Advisors LLC lifted its holdings in shares of UnitedHealth Group by 757.1% in the 1st quarter. Delos Wealth Advisors LLC now owns 60 shares of the healthcare conglomerate’s stock valued at $30,000 after acquiring an additional 53 shares during the last quarter. Hedge funds and other institutional investors own 87.86% of the company’s stock.

UnitedHealth Group Stock Performance

Shares of UNH stock opened at $567.56 on Friday. The company’s 50 day moving average is $581.96 and its 200 day moving average is $542.00. The company has a quick ratio of 0.88, a current ratio of 0.91 and a debt-to-equity ratio of 0.74. UnitedHealth Group Incorporated has a 52-week low of $436.38 and a 52-week high of $608.63. The firm has a market cap of $524.10 billion, a price-to-earnings ratio of 36.97, a PEG ratio of 1.66 and a beta of 0.58.

UnitedHealth Group (NYSE:UNH) last released its quarterly earnings results on Tuesday, October 15th. The healthcare conglomerate reported $7.15 earnings per share (EPS) for the quarter, topping the consensus estimate of $7.00 by $0.15. UnitedHealth Group had a net margin of 3.63% and a return on equity of 26.37%. The business had revenue of $100.82 billion for the quarter, compared to analyst estimates of $99.14 billion. During the same period in the previous year, the company earned $6.56 earnings per share. The business’s revenue for the quarter was up 9.2% on a year-over-year basis. On average, sell-side analysts anticipate that UnitedHealth Group Incorporated will post 27.61 EPS for the current fiscal year.

UnitedHealth Group Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 24th. Shareholders of record on Monday, September 16th were issued a $2.10 dividend. This represents a $8.40 annualized dividend and a yield of 1.48%. The ex-dividend date of this dividend was Monday, September 16th. UnitedHealth Group’s dividend payout ratio is currently 54.72%.

Wall Street Analyst Weigh In

A number of research analysts recently commented on UNH shares. KeyCorp began coverage on shares of UnitedHealth Group in a report on Friday, October 11th. They issued an “overweight” rating and a $675.00 price target for the company. Truist Financial reissued a “buy” rating and issued a $625.00 price objective (down previously from $640.00) on shares of UnitedHealth Group in a research note on Wednesday, October 16th. Robert W. Baird raised their price objective on shares of UnitedHealth Group from $597.00 to $640.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 17th. Hsbc Global Res downgraded shares of UnitedHealth Group from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 17th. Finally, UBS Group decreased their price target on shares of UnitedHealth Group from $680.00 to $650.00 and set a “buy” rating for the company in a research note on Wednesday, October 16th. Four research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, UnitedHealth Group presently has a consensus rating of “Moderate Buy” and an average target price of $615.53.

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.