King Wealth Management Group Boosts Position in UnitedHealth Group Incorporated (NYSE:UNH)

King Wealth Management Group lifted its position in shares of UnitedHealth Group Incorporated (NYSE:UNH) by 2.8% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 30,097 shares of the healthcare conglomerate’s stock after purchasing an additional 815 shares during the quarter. UnitedHealth Group comprises 2.2% of King Wealth Management Group’s investment portfolio, making the stock its 12th biggest holding. King Wealth Management Group’s holdings in UnitedHealth Group were worth $15,225,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of UNH. Howard Capital Management Group LLC bought a new stake in shares of UnitedHealth Group during the 3rd quarter valued at $341,000. Principal Financial Group Inc. increased its holdings in UnitedHealth Group by 11.3% in the 3rd quarter. Principal Financial Group Inc. now owns 1,778,636 shares of the healthcare conglomerate’s stock valued at $1,039,933,000 after acquiring an additional 180,479 shares during the last quarter. Cable Hill Partners LLC boosted its stake in UnitedHealth Group by 22.2% during the third quarter. Cable Hill Partners LLC now owns 2,687 shares of the healthcare conglomerate’s stock valued at $1,571,000 after buying an additional 488 shares during the last quarter. Plato Investment Management Ltd increased its position in UnitedHealth Group by 4.8% in the third quarter. Plato Investment Management Ltd now owns 23,266 shares of the healthcare conglomerate’s stock worth $13,589,000 after purchasing an additional 1,070 shares during the last quarter. Finally, Fortis Capital Management LLC lifted its holdings in shares of UnitedHealth Group by 4.2% in the 3rd quarter. Fortis Capital Management LLC now owns 8,920 shares of the healthcare conglomerate’s stock valued at $5,216,000 after acquiring an additional 357 shares during the last quarter. 87.86% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the company. Stephens upped their target price on UnitedHealth Group from $605.00 to $675.00 and gave the company an “overweight” rating in a research note on Thursday, December 5th. Deutsche Bank Aktiengesellschaft raised their target price on shares of UnitedHealth Group from $595.00 to $625.00 and gave the company a “buy” rating in a research note on Tuesday, December 3rd. Truist Financial dropped their price target on UnitedHealth Group from $625.00 to $610.00 and set a “buy” rating on the stock in a research note on Monday, January 6th. Cantor Fitzgerald restated an “overweight” rating and issued a $700.00 price objective on shares of UnitedHealth Group in a research report on Friday, January 17th. Finally, Barclays reduced their price objective on UnitedHealth Group from $655.00 to $642.00 and set an “overweight” rating on the stock in a research report on Friday, January 17th. Twenty analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, UnitedHealth Group currently has a consensus rating of “Buy” and a consensus target price of $629.32.

Insider Transactions at UnitedHealth Group

In other news, Director Timothy Patrick Flynn acquired 1,000 shares of the business’s stock in a transaction that occurred on Friday, January 17th. The stock was acquired at an average price of $511.57 per share, with a total value of $511,570.00. Following the completion of the transaction, the director now directly owns 4,500 shares of the company’s stock, valued at $2,302,065. This trade represents a 28.57 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.33% of the stock is currently owned by corporate insiders.

UnitedHealth Group Trading Down 0.1 %

Shares of UNH opened at $480.79 on Friday. The firm has a market capitalization of $439.78 billion, a price-to-earnings ratio of 31.02, a P/E/G ratio of 1.37 and a beta of 0.62. The company has a quick ratio of 0.91, a current ratio of 0.83 and a debt-to-equity ratio of 0.74. UnitedHealth Group Incorporated has a 12-month low of $436.38 and a 12-month high of $630.73. The stock’s 50-day moving average price is $511.85 and its 200 day moving average price is $551.01.

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

UnitedHealth Group Dividend Announcement

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

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.