Palumbo Wealth Management LLC Grows Stock Position in UnitedHealth Group Incorporated (NYSE:UNH)

Palumbo Wealth Management LLC boosted its stake in UnitedHealth Group Incorporated (NYSE:UNH) by 2.2% during the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 4,877 shares of the healthcare conglomerate’s stock after buying an additional 107 shares during the quarter. UnitedHealth Group makes up about 1.1% of Palumbo Wealth Management LLC’s holdings, making the stock its 25th biggest position. Palumbo Wealth Management LLC’s holdings in UnitedHealth Group were worth $2,851,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also made changes to their positions in UNH. Tealwood Asset Management Inc. purchased a new stake in shares of UnitedHealth Group during the third quarter worth about $2,905,000. Asset Planning Services Inc. LA ADV raised its holdings in UnitedHealth Group by 1.2% in the 3rd quarter. Asset Planning Services Inc. LA ADV now owns 12,465 shares of the healthcare conglomerate’s stock valued at $7,288,000 after acquiring an additional 150 shares during the last quarter. Vantage Investment Partners LLC grew its position in shares of UnitedHealth Group by 42.2% in the first quarter. Vantage Investment Partners LLC now owns 152,107 shares of the healthcare conglomerate’s stock valued at $75,247,000 after purchasing an additional 45,173 shares during the period. Sequoia Financial Advisors LLC lifted its position in UnitedHealth Group by 13.7% during the third quarter. Sequoia Financial Advisors LLC now owns 24,976 shares of the healthcare conglomerate’s stock worth $14,603,000 after buying an additional 3,006 shares during the period. Finally, Maryland State Retirement & Pension System increased its stake in shares of UnitedHealth Group by 0.6% during the 1st quarter. Maryland State Retirement & Pension System now owns 72,689 shares of the healthcare conglomerate’s stock valued at $35,126,000 after acquiring an additional 469 shares during the last quarter. 87.86% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts recently commented on UNH shares. Hsbc Global Res lowered shares of UnitedHealth Group from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 17th. Morgan Stanley lowered their price target on UnitedHealth Group from $615.00 to $610.00 and set an “overweight” rating for the company in a research report on Wednesday, October 16th. Wells Fargo & Company lifted their price objective on UnitedHealth Group from $525.00 to $630.00 and gave the company an “overweight” rating in a research note on Wednesday, July 17th. Truist Financial reaffirmed a “buy” rating and set a $625.00 price target (down from $640.00) on shares of UnitedHealth Group in a research report on Wednesday, October 16th. Finally, Argus raised their target price on shares of UnitedHealth Group from $570.00 to $600.00 and gave the company a “buy” rating in a research note on Wednesday, July 17th. Four analysts have rated the stock with a hold rating, seventeen have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $615.53.

UnitedHealth Group Stock Performance

Shares of UNH traded up $1.88 during mid-day trading on Thursday, hitting $564.84. The stock had a trading volume of 205,432 shares, compared to its average volume of 3,894,855. The company has a market cap of $521.58 billion, a PE ratio of 36.72, a PEG ratio of 1.66 and a beta of 0.58. The company’s fifty day simple moving average is $582.60 and its two-hundred day simple moving average is $540.48. 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 fifty-two week low of $436.38 and a fifty-two week high of $608.63.

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

UnitedHealth Group Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 24th. Investors of record on Monday, September 16th were given a $2.10 dividend. The ex-dividend date of this dividend was Monday, September 16th. This represents a $8.40 annualized dividend and a yield of 1.49%. UnitedHealth Group’s dividend payout ratio is presently 54.72%.

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.