Penobscot Wealth Management Buys 35 Shares of UnitedHealth Group Incorporated (NYSE:UNH)

Penobscot Wealth Management boosted its holdings in shares of UnitedHealth Group Incorporated (NYSE:UNH) by 2.8% during the fourth quarter, Holdings Channel.com reports. The firm owned 1,269 shares of the healthcare conglomerate’s stock after acquiring an additional 35 shares during the period. Penobscot Wealth Management’s holdings in UnitedHealth Group were worth $642,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the business. Wallace Capital Management Inc. increased its position in UnitedHealth Group by 0.9% during the third quarter. Wallace Capital Management Inc. now owns 2,119 shares of the healthcare conglomerate’s stock valued at $1,239,000 after acquiring an additional 19 shares during the last quarter. Western Pacific Wealth Management LP increased its position in UnitedHealth Group by 2.2% during the fourth quarter. Western Pacific Wealth Management LP now owns 902 shares of the healthcare conglomerate’s stock valued at $456,000 after acquiring an additional 19 shares during the last quarter. MCF Advisors LLC increased its position in UnitedHealth Group by 0.8% during the fourth quarter. MCF Advisors LLC now owns 2,578 shares of the healthcare conglomerate’s stock valued at $1,304,000 after acquiring an additional 20 shares during the last quarter. Axiom Financial Strategies LLC increased its position in UnitedHealth Group by 3.6% during the fourth quarter. Axiom Financial Strategies LLC now owns 575 shares of the healthcare conglomerate’s stock valued at $291,000 after acquiring an additional 20 shares during the last quarter. Finally, 44 Wealth Management LLC increased its position in UnitedHealth Group by 1.6% during the fourth quarter. 44 Wealth Management LLC now owns 1,309 shares of the healthcare conglomerate’s stock valued at $662,000 after acquiring an additional 21 shares during the last quarter. Hedge funds and other institutional investors own 87.86% of the company’s stock.

Insider Activity at UnitedHealth Group

In other UnitedHealth Group news, Director Timothy Patrick Flynn purchased 1,000 shares of UnitedHealth Group stock in a transaction on Friday, January 17th. The stock was bought at an average cost of $511.57 per share, with a total value of $511,570.00. Following the transaction, the director now owns 4,500 shares of the company’s stock, valued at $2,302,065. This represents a 28.57 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.33% of the stock is currently owned by insiders.

UnitedHealth Group Stock Performance

UNH stock opened at $481.18 on Thursday. The firm has a market cap of $440.14 billion, a price-to-earnings ratio of 31.04, a PEG ratio of 1.37 and a beta of 0.62. The firm has a 50-day simple moving average of $512.33 and a two-hundred day simple moving average of $551.50. UnitedHealth Group Incorporated has a one year low of $436.38 and a one year high of $630.73. The company has a debt-to-equity ratio of 0.74, a quick ratio of 0.91 and a current ratio of 0.83.

UnitedHealth Group (NYSE:UNH) last released its quarterly earnings results on Thursday, January 16th. The healthcare conglomerate reported $6.81 EPS for the quarter, beating the consensus estimate of $6.74 by $0.07. The business had revenue of $100.81 billion during the quarter, compared to analyst estimates of $101.60 billion. UnitedHealth Group had a net margin of 3.60% and a return on equity of 26.69%. The company’s quarterly revenue was up 6.8% on a year-over-year basis. During the same period in the prior year, the firm posted $5.83 earnings per share. On average, equities analysts forecast that UnitedHealth Group Incorporated will post 29.54 EPS for the current fiscal year.

UnitedHealth Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 18th. Investors of record on Monday, March 10th will be given a $2.10 dividend. This represents a $8.40 annualized dividend and a dividend yield of 1.75%. The ex-dividend date of this dividend is Monday, March 10th. UnitedHealth Group’s payout ratio is currently 54.19%.

Analyst Upgrades and Downgrades

UNH has been the topic of a number of research analyst reports. KeyCorp restated an “overweight” rating and issued a $650.00 price target on shares of UnitedHealth Group in a report on Friday, January 17th. Hsbc Global Res upgraded shares of UnitedHealth Group from a “hold” rating to a “strong-buy” rating in a report on Friday, January 10th. StockNews.com upgraded shares of UnitedHealth Group from a “hold” rating to a “buy” rating in a report on Thursday, January 23rd. Oppenheimer upped their price target on shares of UnitedHealth Group from $610.00 to $640.00 and gave the stock an “outperform” rating in a report on Friday, December 6th. Finally, Piper Sandler cut their price target on shares of UnitedHealth Group from $605.00 to $600.00 and set an “overweight” rating on the stock in a report on Thursday, January 2nd. One analyst has rated the stock with a hold rating, twenty have given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, UnitedHealth Group currently has a consensus rating of “Buy” and a consensus price target of $629.32.

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.