Independence Bank of Kentucky Has $3.10 Million Stake in UnitedHealth Group Incorporated (NYSE:UNH)

Independence Bank of Kentucky increased its holdings in UnitedHealth Group Incorporated (NYSE:UNH) by 27.5% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,267 shares of the healthcare conglomerate’s stock after buying an additional 1,353 shares during the period. UnitedHealth Group accounts for 0.9% of Independence Bank of Kentucky’s holdings, making the stock its 22nd largest position. Independence Bank of Kentucky’s holdings in UnitedHealth Group were worth $3,100,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in UNH. Richelieu Gestion SA bought a new stake in UnitedHealth Group during the fourth quarter worth about $26,000. CGC Financial Services LLC raised its position in UnitedHealth Group by 1,000.0% during the fourth quarter. CGC Financial Services LLC now owns 55 shares of the healthcare conglomerate’s stock valued at $29,000 after purchasing an additional 50 shares in the last quarter. True Wealth Design LLC acquired a new stake in shares of UnitedHealth Group in the 4th quarter valued at $31,000. LFA Lugano Financial Advisors SA raised its holdings in shares of UnitedHealth Group by 148.1% during the 4th quarter. LFA Lugano Financial Advisors SA now owns 67 shares of the healthcare conglomerate’s stock worth $35,000 after buying an additional 40 shares in the last quarter. Finally, Transcendent Capital Group LLC acquired a new stake in UnitedHealth Group in the fourth quarter valued at about $40,000. Institutional investors and hedge funds own 87.86% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on UNH shares. JPMorgan Chase & Co. raised their price target on shares of UnitedHealth Group from $546.00 to $559.00 and gave the company an “overweight” rating in a research note on Thursday, May 30th. Piper Sandler upped their price target on shares of UnitedHealth Group from $566.00 to $571.00 and gave the stock an “overweight” rating in a report on Wednesday, April 17th. Barclays boosted their price objective on UnitedHealth Group from $534.00 to $560.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 17th. Royal Bank of Canada cut their price target on UnitedHealth Group from $596.00 to $555.00 and set an “outperform” rating on the stock in a research note on Wednesday, April 17th. Finally, Baird R W upgraded shares of UnitedHealth Group to a “strong-buy” rating in a report on Thursday, May 30th. Three analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $579.74.

UnitedHealth Group Stock Up 4.7 %

Shares of UnitedHealth Group stock traded up $22.82 during trading on Friday, reaching $509.26. 22,734,197 shares of the company traded hands, compared to its average volume of 3,685,941. The company has a debt-to-equity ratio of 0.69, a current ratio of 0.85 and a quick ratio of 0.85. The firm has a market capitalization of $468.72 billion, a PE ratio of 31.15, a P/E/G ratio of 1.41 and a beta of 0.58. The company has a 50 day moving average price of $498.34 and a 200-day moving average price of $502.27. UnitedHealth Group Incorporated has a 1-year low of $436.38 and a 1-year high of $554.70.

UnitedHealth Group (NYSE:UNH) last issued its earnings results on Tuesday, April 16th. The healthcare conglomerate reported $6.91 EPS for the quarter, beating analysts’ consensus estimates of $6.63 by $0.28. The business had revenue of $99.80 billion during the quarter, compared to analyst estimates of $99.23 billion. UnitedHealth Group had a return on equity of 26.50% and a net margin of 4.05%. The firm’s revenue was up 8.6% compared to the same quarter last year. During the same period in the previous year, the company posted $6.26 EPS. As a group, equities research analysts expect that UnitedHealth Group Incorporated will post 27.57 earnings per share for the current fiscal year.

UnitedHealth Group Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 25th. Investors of record on Monday, June 17th were issued a $2.10 dividend. This represents a $8.40 dividend on an annualized basis and a dividend yield of 1.65%. The ex-dividend date was Monday, June 17th. This is a positive change from UnitedHealth Group’s previous quarterly dividend of $1.88. UnitedHealth Group’s dividend 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.