Forefront Wealth Management Inc. Invests $2.32 Million in UnitedHealth Group Incorporated (NYSE:UNH)

Forefront Wealth Management Inc. acquired a new position in shares of UnitedHealth Group Incorporated (NYSE:UNH) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 4,595 shares of the healthcare conglomerate’s stock, valued at approximately $2,324,000. UnitedHealth Group accounts for approximately 2.1% of Forefront Wealth Management Inc.’s portfolio, making the stock its 17th largest position.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. NewSquare Capital LLC acquired a new position in UnitedHealth Group during the fourth quarter worth $25,000. AlphaMark Advisors LLC acquired a new stake in UnitedHealth Group in the fourth quarter valued at $30,000. Promus Capital LLC acquired a new stake in UnitedHealth Group in the fourth quarter valued at $32,000. RPg Family Wealth Advisory LLC acquired a new stake in UnitedHealth Group in the third quarter valued at $37,000. Finally, Pillar Financial Advisors LLC acquired a new stake in UnitedHealth Group in the fourth quarter valued at $40,000. Institutional investors and hedge funds own 87.86% of the company’s stock.

UnitedHealth Group Stock Performance

UnitedHealth Group stock opened at $517.72 on Friday. The company has a debt-to-equity ratio of 0.74, a current ratio of 0.83 and a quick ratio of 0.91. UnitedHealth Group Incorporated has a 12 month low of $436.38 and a 12 month high of $630.73. The company has a market cap of $473.57 billion, a price-to-earnings ratio of 33.40, a price-to-earnings-growth ratio of 1.37 and a beta of 0.62. The stock’s 50-day moving average is $510.19 and its 200-day moving average is $547.47.

UnitedHealth Group (NYSE:UNH) last posted its earnings results on Thursday, January 16th. The healthcare conglomerate reported $6.81 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to analyst estimates of $101.60 billion. During the same quarter last year, the firm earned $5.83 earnings per share. The company’s revenue for the quarter was up 6.8% compared to the same quarter last year. Equities analysts anticipate that UnitedHealth Group Incorporated will post 29.54 earnings per share for the current year.

UnitedHealth Group Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, March 18th. Stockholders of record on Monday, March 10th were paid a $2.10 dividend. The ex-dividend date of this dividend was Monday, March 10th. This represents a $8.40 dividend on an annualized basis and a dividend yield of 1.62%. UnitedHealth Group’s dividend payout ratio (DPR) is currently 54.19%.

Insiders Place Their Bets

In related news, Director Timothy Patrick Flynn purchased 1,000 shares of the business’s stock in a transaction that occurred on Friday, January 17th. The shares were purchased at an average cost of $511.57 per share, with a total value of $511,570.00. Following the completion of the acquisition, the director now directly owns 4,500 shares of the company’s stock, valued at approximately $2,302,065. The trade was a 28.57 % increase in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.33% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several analysts have weighed in on the company. KeyCorp reissued an “overweight” rating and issued a $650.00 target price on shares of UnitedHealth Group in a report on Friday, January 17th. HSBC upgraded UnitedHealth Group from a “hold” rating to a “buy” rating and set a $595.00 price objective on the stock in a research report on Friday, January 10th. Oppenheimer upped their price objective on UnitedHealth Group from $610.00 to $640.00 and gave the company an “outperform” rating in a research report on Friday, December 6th. Wells Fargo & Company reduced their price objective on UnitedHealth Group from $694.00 to $660.00 and set an “overweight” rating on the stock in a research report on Tuesday, January 28th. Finally, Truist Financial reduced their target price on UnitedHealth Group from $625.00 to $610.00 and set a “buy” rating on the stock in a research report on Monday, January 6th. Twenty equities research analysts have rated the stock with a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, UnitedHealth Group has an average rating of “Buy” and an average 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.