Mechanics Financial Corp Lowers Stock Position in UnitedHealth Group Incorporated (NYSE:UNH)

Mechanics Financial Corp cut its holdings in UnitedHealth Group Incorporated (NYSE:UNH) by 1.8% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,121 shares of the healthcare conglomerate’s stock after selling 57 shares during the quarter. UnitedHealth Group accounts for 0.8% of Mechanics Financial Corp’s portfolio, making the stock its 29th biggest holding. Mechanics Financial Corp’s holdings in UnitedHealth Group were worth $1,825,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the business. International Assets Investment Management LLC raised its holdings in UnitedHealth Group by 78,814.4% during the third quarter. International Assets Investment Management LLC now owns 5,296,737 shares of the healthcare conglomerate’s stock worth $3,096,896,000 after purchasing an additional 5,290,025 shares during the last quarter. Swedbank AB acquired a new position in shares of UnitedHealth Group during the 1st quarter worth $1,117,462,000. Lone Pine Capital LLC acquired a new stake in UnitedHealth Group in the 2nd quarter valued at about $480,903,000. Dimensional Fund Advisors LP raised its position in UnitedHealth Group by 30.0% during the second quarter. Dimensional Fund Advisors LP now owns 3,816,254 shares of the healthcare conglomerate’s stock worth $1,942,956,000 after acquiring an additional 880,183 shares during the last quarter. Finally, Baillie Gifford & Co. grew its position in shares of UnitedHealth Group by 1,125.4% in the second quarter. Baillie Gifford & Co. now owns 894,006 shares of the healthcare conglomerate’s stock valued at $455,281,000 after purchasing an additional 821,050 shares during the last quarter. Hedge funds and other institutional investors own 87.86% of the company’s stock.

UnitedHealth Group Price Performance

UnitedHealth Group stock opened at $592.23 on Friday. The firm has a fifty day moving average of $582.84 and a 200-day moving average of $549.52. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 0.74. UnitedHealth Group Incorporated has a 52-week low of $436.38 and a 52-week high of $630.73. The firm has a market capitalization of $545.02 billion, a P/E ratio of 38.58, a PEG ratio of 1.74 and a beta of 0.58.

UnitedHealth Group (NYSE:UNH) last issued its quarterly earnings data on Tuesday, October 15th. The healthcare conglomerate reported $7.15 EPS for the quarter, topping analysts’ consensus estimates of $7.00 by $0.15. The company had revenue of $100.82 billion for the quarter, compared to analysts’ expectations of $99.14 billion. UnitedHealth Group had a return on equity of 26.37% and a net margin of 3.63%. The firm’s quarterly revenue was up 9.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $6.56 earnings per share. As a group, analysts predict that UnitedHealth Group Incorporated will post 27.6 EPS for the current year.

UnitedHealth Group Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 17th. Investors of record on Monday, December 9th will be issued a dividend of $2.10 per share. This represents a $8.40 dividend on an annualized basis and a yield of 1.42%. The ex-dividend date is Monday, December 9th. UnitedHealth Group’s payout ratio is 54.72%.

Wall Street Analysts Forecast Growth

UNH has been the topic of a number of analyst reports. StockNews.com upgraded UnitedHealth Group from a “hold” rating to a “buy” rating in a report on Tuesday, November 12th. Stephens dropped their price objective on UnitedHealth Group from $632.00 to $605.00 and set an “overweight” rating for the company in a research report on Wednesday, October 16th. Hsbc Global Res cut shares of UnitedHealth Group from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 17th. TD Cowen upped their price objective on shares of UnitedHealth Group from $601.00 to $609.00 and gave the company a “buy” rating in a research note on Friday, October 18th. Finally, Royal Bank of Canada cut their price target on UnitedHealth Group from $615.00 to $595.00 and set an “outperform” rating for the company in a report on Wednesday, October 16th. Three investment analysts have rated the stock with a hold rating, eighteen have given a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $615.53.

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.