Corundum Group Inc. Has $1.29 Million Holdings in UnitedHealth Group Incorporated (NYSE:UNH)

Corundum Group Inc. reduced its holdings in UnitedHealth Group Incorporated (NYSE:UNH) by 29.8% during the 3rd quarter, Holdings Channel reports. The fund owned 2,206 shares of the healthcare conglomerate’s stock after selling 935 shares during the quarter. Corundum Group Inc.’s holdings in UnitedHealth Group were worth $1,290,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of UNH. Violich Capital Management Inc. increased its position in UnitedHealth Group by 0.8% in the 3rd quarter. Violich Capital Management Inc. now owns 37,425 shares of the healthcare conglomerate’s stock valued at $21,882,000 after acquiring an additional 310 shares in the last quarter. Calton & Associates Inc. acquired a new stake in shares of UnitedHealth Group in the third quarter valued at approximately $104,174,000. Allspring Global Investments Holdings LLC lifted its holdings in UnitedHealth Group by 0.8% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 390,147 shares of the healthcare conglomerate’s stock worth $228,111,000 after buying an additional 2,959 shares in the last quarter. Compass Ion Advisors LLC increased its stake in shares of UnitedHealth Group by 5.6% in the 3rd quarter. Compass Ion Advisors LLC now owns 601 shares of the healthcare conglomerate’s stock valued at $351,000 after buying an additional 32 shares during the period. Finally, Vest Financial LLC lifted its stake in shares of UnitedHealth Group by 168.8% during the third quarter. Vest Financial LLC now owns 5,839 shares of the healthcare conglomerate’s stock valued at $3,414,000 after acquiring an additional 3,667 shares during the period. 87.86% of the stock is owned by institutional investors and hedge funds.

UnitedHealth Group Trading Up 0.6 %

Shares of NYSE:UNH opened at $569.61 on Monday. The stock has a market cap of $525.99 billion, a PE ratio of 37.11, a P/E/G ratio of 1.67 and a beta of 0.58. The company has a quick ratio of 0.88, a current ratio of 0.91 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 $608.63. The business has a 50 day moving average of $584.42 and a 200-day moving average of $534.68.

UnitedHealth Group (NYSE:UNH) last posted its quarterly earnings data on Tuesday, October 15th. The healthcare conglomerate reported $7.15 earnings per share for the quarter, topping 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 for the quarter, compared to analysts’ expectations of $99.14 billion. During the same quarter last year, the business earned $6.56 EPS. The company’s quarterly revenue was up 9.2% compared to the same quarter last year. As a group, equities research analysts forecast that UnitedHealth Group Incorporated will post 27.61 earnings per share for the current year.

UnitedHealth Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 24th. Stockholders of record on Monday, September 16th were given a $2.10 dividend. The ex-dividend date was Monday, September 16th. This represents a $8.40 dividend on an annualized basis and a dividend yield of 1.47%. UnitedHealth Group’s payout ratio is 54.72%.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on UNH shares. Jefferies Financial Group upgraded shares of 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. KeyCorp assumed coverage on shares of UnitedHealth Group in a report on Friday, October 11th. They set an “overweight” rating and a $675.00 target price for the company. Robert W. Baird raised their price target on UnitedHealth Group from $597.00 to $640.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 17th. HSBC lowered UnitedHealth Group from a “buy” rating to a “hold” rating in a research note on Thursday. Finally, Cantor Fitzgerald upped their price target on UnitedHealth Group from $591.00 to $644.00 and gave the company an “overweight” rating in a research note on Wednesday, October 16th. Three analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, UnitedHealth Group has an average rating of “Moderate Buy” and an average target price of $615.58.

UnitedHealth Group Company 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.