Convergence Financial LLC Purchases 110 Shares of UnitedHealth Group Incorporated (NYSE:UNH)

Convergence Financial LLC boosted its position in shares of UnitedHealth Group Incorporated (NYSE:UNH) by 24.9% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 552 shares of the healthcare conglomerate’s stock after buying an additional 110 shares during the period. Convergence Financial LLC’s holdings in UnitedHealth Group were worth $323,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Kathleen S. Wright Associates Inc. bought a new stake in shares of UnitedHealth Group in the 3rd quarter valued at approximately $27,000. Macroview Investment Management LLC lifted its stake in shares of UnitedHealth Group by 671.4% in the 2nd 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 during the last quarter. Delos Wealth Advisors LLC lifted its stake 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 purchasing an additional 53 shares during the last quarter. Bbjs Financial Advisors LLC bought a new stake in shares of UnitedHealth Group in the 2nd quarter valued at approximately $31,000. Finally, Global Wealth Strategies & Associates lifted its stake in shares of UnitedHealth Group by 152.4% during the 3rd quarter. Global Wealth Strategies & Associates now owns 53 shares of the healthcare conglomerate’s stock worth $31,000 after acquiring an additional 32 shares during the last quarter. 87.86% of the stock is owned by institutional investors.

UnitedHealth Group Stock Up 0.7 %

UnitedHealth Group stock opened at $564.56 on Friday. The company has a debt-to-equity ratio of 0.74, a current ratio of 0.91 and a quick ratio of 0.88. The stock has a market capitalization of $521.33 billion, a price-to-earnings ratio of 36.78, a PEG ratio of 1.67 and a beta of 0.58. UnitedHealth Group Incorporated has a 1-year low of $436.38 and a 1-year high of $608.63. The business has a fifty day moving average price of $583.52 and a 200-day moving average price of $537.42.

UnitedHealth Group (NYSE:UNH) last issued its quarterly earnings results on Tuesday, October 15th. The healthcare conglomerate reported $7.15 EPS for the quarter, topping analysts’ consensus estimates of $7.00 by $0.15. UnitedHealth Group had a return on equity of 26.37% and a net margin of 3.63%. The company had revenue of $100.82 billion during the quarter, compared to analysts’ expectations of $99.14 billion. During the same quarter in the previous year, the firm posted $6.56 EPS. The firm’s revenue was up 9.2% compared to the same quarter last year. Equities research analysts forecast 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 given a dividend of $2.10 per share. The ex-dividend date of this dividend was Monday, September 16th. This represents a $8.40 dividend on an annualized basis and a yield of 1.49%. UnitedHealth Group’s dividend payout ratio is currently 54.72%.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on UNH shares. Argus raised their price target on UnitedHealth Group from $570.00 to $600.00 and gave the stock a “buy” rating in a research note on Wednesday, July 17th. Bank of America decreased their price target on UnitedHealth Group from $675.00 to $650.00 and set a “buy” rating for the company in a research note on Wednesday, October 16th. Barclays decreased their price target on UnitedHealth Group from $604.00 to $603.00 and set an “overweight” rating for the company in a research note on Tuesday. Morgan Stanley reduced their price objective on UnitedHealth Group from $615.00 to $610.00 and set an “overweight” rating on the stock in a report on Wednesday, October 16th. Finally, Hsbc Global Res downgraded UnitedHealth Group from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 17th. Four analysts have rated the stock with a hold rating, seventeen have given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $615.53.

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.