Concentric Wealth Management LLC Reduces Position in UnitedHealth Group Incorporated (NYSE:UNH)

Concentric Wealth Management LLC cut its position in UnitedHealth Group Incorporated (NYSE:UNH) by 10.7% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 587 shares of the healthcare conglomerate’s stock after selling 70 shares during the period. Concentric Wealth Management LLC’s holdings in UnitedHealth Group were worth $343,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Tealwood Asset Management Inc. acquired a new stake in shares of UnitedHealth Group in the third quarter worth $2,905,000. Asset Planning Services Inc. LA ADV grew its holdings in UnitedHealth Group by 1.2% in the third quarter. Asset Planning Services Inc. LA ADV now owns 12,465 shares of the healthcare conglomerate’s stock valued at $7,288,000 after purchasing an additional 150 shares during the period. Sequoia Financial Advisors LLC lifted its position in shares of UnitedHealth Group by 13.7% during the 3rd quarter. Sequoia Financial Advisors LLC now owns 24,976 shares of the healthcare conglomerate’s stock valued at $14,603,000 after buying an additional 3,006 shares in the last quarter. Americana Partners LLC grew its position in shares of UnitedHealth Group by 10.8% in the third quarter. Americana Partners LLC now owns 20,377 shares of the healthcare conglomerate’s stock valued at $11,914,000 after purchasing an additional 1,984 shares during the period. Finally, Hennion & Walsh Asset Management Inc. lifted its stake in UnitedHealth Group by 14.8% in the 2nd quarter. Hennion & Walsh Asset Management Inc. now owns 9,960 shares of the healthcare conglomerate’s stock valued at $5,072,000 after buying an additional 1,283 shares in the last quarter. Institutional investors and hedge funds own 87.86% of the company’s stock.

UnitedHealth Group Price Performance

UNH stock opened at $590.87 on Monday. The business’s 50-day moving average is $582.63 and its two-hundred day moving average is $553.30. The firm has a market capitalization of $543.77 billion, a P/E ratio of 38.49, a P/E/G ratio of 1.73 and a beta of 0.58. UnitedHealth Group Incorporated has a 1 year low of $436.38 and a 1 year high of $630.73. The company has a debt-to-equity ratio of 0.74, a current ratio of 0.91 and a quick ratio of 0.91.

UnitedHealth Group (NYSE:UNH) last announced its quarterly earnings data on Tuesday, October 15th. The healthcare conglomerate reported $7.15 EPS for the quarter, beating analysts’ consensus estimates of $7.00 by $0.15. UnitedHealth Group had a net margin of 3.63% and a return on equity of 26.37%. 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 prior year, the firm posted $6.56 EPS. The company’s quarterly revenue was up 9.2% compared to the same quarter last year. Analysts anticipate that UnitedHealth Group Incorporated will post 27.6 earnings per share for the current fiscal year.

UnitedHealth Group Dividend Announcement

The business 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 annualized dividend and a dividend yield of 1.42%. The ex-dividend date is Monday, December 9th. UnitedHealth Group’s dividend payout ratio is presently 54.72%.

Analyst Upgrades and Downgrades

UNH has been the topic of a number of research reports. Stephens decreased their price objective on UnitedHealth Group from $632.00 to $605.00 and set an “overweight” rating on the stock in a report on Wednesday, October 16th. HSBC lowered UnitedHealth Group from a “buy” rating to a “hold” rating in a research report on Thursday, October 17th. Truist Financial restated a “buy” rating and issued a $625.00 target price (down from $640.00) on shares of UnitedHealth Group in a report on Wednesday, October 16th. Morgan Stanley dropped their price objective on shares of UnitedHealth Group from $615.00 to $610.00 and set an “overweight” rating for the company in a report on Wednesday, October 16th. Finally, TD Cowen boosted their target price on shares of UnitedHealth Group from $601.00 to $609.00 and gave the company a “buy” rating in a report on Friday, October 18th. Four research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, UnitedHealth Group currently has an average rating of “Moderate Buy” and an average target price of $615.53.

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.