Raymond James Trust N.A. Buys 2,475 Shares of UnitedHealth Group Incorporated (NYSE:UNH)

Raymond James Trust N.A. boosted its position in shares of UnitedHealth Group Incorporated (NYSE:UNH) by 3.5% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 72,401 shares of the healthcare conglomerate’s stock after buying an additional 2,475 shares during the quarter. UnitedHealth Group accounts for 0.9% of Raymond James Trust N.A.’s investment portfolio, making the stock its 19th biggest holding. Raymond James Trust N.A.’s holdings in UnitedHealth Group were worth $42,331,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of UNH. Kathleen S. Wright Associates Inc. acquired a new position in UnitedHealth Group during the third quarter worth approximately $27,000. Global Wealth Strategies & Associates increased its holdings 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. Macroview Investment Management LLC boosted its position in UnitedHealth Group by 671.4% during the second quarter. Macroview Investment Management LLC now owns 54 shares of the healthcare conglomerate’s stock worth $28,000 after purchasing an additional 47 shares during the period. West Financial Advisors LLC bought a new position in shares of UnitedHealth Group in the third quarter valued at about $32,000. Finally, Bbjs Financial Advisors LLC bought a new stake in shares of UnitedHealth Group during the 2nd quarter worth about $31,000. 87.86% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on UNH shares. Morgan Stanley cut their price objective on shares of UnitedHealth Group from $615.00 to $610.00 and set an “overweight” rating for the company in a research report on Wednesday, October 16th. KeyCorp assumed coverage on UnitedHealth Group in a report on Friday, October 11th. They issued an “overweight” rating and a $675.00 price objective on the stock. Truist Financial reissued a “buy” rating and issued a $625.00 target price (down previously from $640.00) on shares of UnitedHealth Group in a research report on Wednesday, October 16th. Royal Bank of Canada decreased their target price on shares of UnitedHealth Group from $615.00 to $595.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 16th. Finally, StockNews.com cut UnitedHealth Group from a “buy” rating to a “hold” rating in a research note on Wednesday. Four equities research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $615.53.

UnitedHealth Group Stock Performance

Shares of UnitedHealth Group stock opened at $597.56 on Friday. UnitedHealth Group Incorporated has a fifty-two week low of $436.38 and a fifty-two week high of $630.73. The firm has a market capitalization of $549.92 billion, a P/E ratio of 38.93, a P/E/G ratio of 1.69 and a beta of 0.58. The company has a debt-to-equity ratio of 0.74, a current ratio of 0.91 and a quick ratio of 0.91. The company’s 50 day moving average price is $582.70 and its two-hundred day moving average price is $551.92.

UnitedHealth Group (NYSE:UNH) last posted its earnings results on Tuesday, October 15th. The healthcare conglomerate reported $7.15 EPS for the quarter, beating the consensus estimate of $7.00 by $0.15. UnitedHealth Group had a return on equity of 26.37% and a net margin of 3.63%. The firm had revenue of $100.82 billion during the quarter, compared to the consensus estimate of $99.14 billion. During the same period last year, the company earned $6.56 earnings per share. The business’s quarterly revenue was up 9.2% on a year-over-year basis. On average, equities analysts forecast that UnitedHealth Group Incorporated will post 27.6 earnings per share for the current fiscal year.

UnitedHealth Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 17th. Investors of record on Monday, December 9th will be paid a $2.10 dividend. The ex-dividend date is Monday, December 9th. This represents a $8.40 annualized dividend and a dividend yield of 1.41%. UnitedHealth Group’s dividend payout ratio is 54.72%.

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.