Brophy Wealth Management LLC Invests $2.25 Million in UnitedHealth Group Incorporated (NYSE:UNH)

Brophy Wealth Management LLC acquired a new position in UnitedHealth Group Incorporated (NYSE:UNH) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 3,855 shares of the healthcare conglomerate’s stock, valued at approximately $2,254,000. UnitedHealth Group accounts for 0.8% of Brophy Wealth Management LLC’s holdings, making the stock its 23rd biggest position.

Several other hedge funds have also recently made changes to their positions in UNH. Vestcor Inc raised its stake in UnitedHealth Group by 2.3% in the third quarter. Vestcor Inc now owns 55,287 shares of the healthcare conglomerate’s stock worth $32,325,000 after buying an additional 1,269 shares in the last quarter. M&T Bank Corp lifted its stake in shares of UnitedHealth Group by 13.4% in the 3rd quarter. M&T Bank Corp now owns 220,590 shares of the healthcare conglomerate’s stock valued at $128,975,000 after purchasing an additional 26,074 shares during the period. Executive Wealth Management LLC grew its stake in UnitedHealth Group by 6.6% in the third quarter. Executive Wealth Management LLC now owns 1,088 shares of the healthcare conglomerate’s stock worth $636,000 after purchasing an additional 67 shares during the period. Abel Hall LLC boosted its holdings in shares of UnitedHealth Group by 9.8% during the 3rd quarter. Abel Hall LLC now owns 933 shares of the healthcare conglomerate’s stock valued at $546,000 after buying an additional 83 shares in the last quarter. Finally, Nabity Jensen Investment Management Inc bought a new position in shares of UnitedHealth Group in the 3rd quarter worth about $1,570,000. 87.86% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the stock. StockNews.com raised shares of UnitedHealth Group from a “hold” rating to a “buy” rating in a research note on Monday. Royal Bank of Canada dropped their target price on UnitedHealth Group from $615.00 to $595.00 and set an “outperform” rating on the stock in a report on Wednesday, October 16th. Oppenheimer lifted their price target on UnitedHealth Group from $610.00 to $640.00 and gave the stock an “outperform” rating in a research report on Friday. Bank of America reduced their price objective on shares of UnitedHealth Group from $675.00 to $650.00 and set a “buy” rating for the company in a research note on Wednesday, October 16th. Finally, Truist Financial reissued a “buy” rating and set a $625.00 price target (down previously from $640.00) on shares of UnitedHealth Group in a research report on Wednesday, October 16th. Three research analysts have rated the stock with a hold rating, eighteen have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $626.84.

UnitedHealth Group Stock Up 2.5 %

Shares of UNH stock opened at $561.10 on Tuesday. The company has a 50 day simple moving average of $586.36 and a two-hundred day simple moving average of $559.39. The stock has a market cap of $516.37 billion, a P/E ratio of 36.55, a P/E/G ratio of 1.61 and a beta of 0.58. UnitedHealth Group Incorporated has a 12 month low of $436.38 and a 12 month high of $630.73. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 0.74.

UnitedHealth Group (NYSE:UNH) last released its earnings results 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. 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 for the quarter, compared to the consensus estimate of $99.14 billion. During the same period in the previous year, the business earned $6.56 earnings per share. UnitedHealth Group’s quarterly revenue was up 9.2% compared to the same quarter last year. On average, research analysts expect that UnitedHealth Group Incorporated will post 27.63 earnings per share for the current year.

UnitedHealth Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 17th. Stockholders of record on Monday, December 9th will be paid a $2.10 dividend. The ex-dividend date of this dividend is Monday, December 9th. This represents a $8.40 dividend on an annualized basis and a dividend yield of 1.50%. UnitedHealth Group’s dividend payout ratio (DPR) is presently 54.72%.

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.