Glassy Mountain Advisors Inc. Purchases Shares of 8,034 UnitedHealth Group Incorporated (NYSE:UNH)

Glassy Mountain Advisors Inc. bought a new stake in UnitedHealth Group Incorporated (NYSE:UNH) during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 8,034 shares of the healthcare conglomerate’s stock, valued at approximately $4,697,000. UnitedHealth Group comprises about 1.6% of Glassy Mountain Advisors Inc.’s holdings, making the stock its 25th biggest holding.

A number of other large investors have also recently bought and sold shares of UNH. Tealwood Asset Management Inc. acquired a new position in UnitedHealth Group during the third quarter valued at approximately $2,905,000. Asset Planning Services Inc. LA ADV boosted its holdings in shares of 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 buying an additional 150 shares during the last quarter. Sequoia Financial Advisors LLC increased its holdings 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 last quarter. Concord Investment Counsel Inc. acquired a new stake in UnitedHealth Group in the first quarter valued at $14,544,000. Finally, Americana Partners LLC increased its stake in shares of UnitedHealth Group by 10.8% during the 3rd quarter. Americana Partners LLC now owns 20,377 shares of the healthcare conglomerate’s stock worth $11,914,000 after purchasing an additional 1,984 shares during the last quarter. Institutional investors and hedge funds own 87.86% of the company’s stock.

UnitedHealth Group Stock Up 0.5 %

Shares of UNH opened at $567.56 on Friday. The firm has a 50 day simple moving average of $581.96 and a two-hundred day simple moving average of $542.00. The company has a market cap of $524.10 billion, a P/E ratio of 36.97, a P/E/G ratio of 1.66 and a beta of 0.58. UnitedHealth Group Incorporated has a one year low of $436.38 and a one year high of $608.63. The company has a debt-to-equity ratio of 0.74, a current ratio of 0.91 and a quick ratio of 0.88.

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, beating the consensus estimate of $7.00 by $0.15. The business had revenue of $100.82 billion for the quarter, compared to analyst estimates of $99.14 billion. UnitedHealth Group had a return on equity of 26.37% and a net margin of 3.63%. UnitedHealth Group’s revenue was up 9.2% compared to the same quarter last year. During the same period last year, the firm posted $6.56 earnings per share. Research analysts forecast that UnitedHealth Group Incorporated will post 27.61 EPS for the current fiscal year.

UnitedHealth Group Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 24th. Shareholders of record on Monday, September 16th were paid a dividend of $2.10 per share. The ex-dividend date was Monday, September 16th. This represents a $8.40 dividend on an annualized basis and a dividend yield of 1.48%. UnitedHealth Group’s payout ratio is presently 54.72%.

Analysts Set New Price Targets

Several research analysts have recently commented on the company. KeyCorp began coverage on UnitedHealth Group in a research note on Friday, October 11th. They set an “overweight” rating and a $675.00 target price for the company. Bank of America dropped their price objective on shares of UnitedHealth Group from $675.00 to $650.00 and set a “buy” rating on the stock in a research report on Wednesday, October 16th. Wells Fargo & Company upped their price target on shares of UnitedHealth Group from $525.00 to $630.00 and gave the company an “overweight” rating in a research note on Wednesday, July 17th. Jefferies Financial Group raised UnitedHealth Group from a “hold” rating to a “buy” rating and upped their target price for the company from $481.00 to $647.00 in a research report on Wednesday, July 17th. Finally, Barclays reduced 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, October 22nd. Four analysts have rated the stock with a hold rating, seventeen have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, UnitedHealth Group has a consensus rating of “Moderate Buy” and a consensus price target of $615.53.

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.