Summit Global Investments Sells 1,207 Shares of UnitedHealth Group Incorporated (NYSE:UNH)

Summit Global Investments trimmed its holdings in UnitedHealth Group Incorporated (NYSE:UNH) by 23.3% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,968 shares of the healthcare conglomerate’s stock after selling 1,207 shares during the period. Summit Global Investments’ holdings in UnitedHealth Group were worth $2,007,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Wallace Capital Management Inc. lifted its position in shares of UnitedHealth Group by 0.9% in the third quarter. Wallace Capital Management Inc. now owns 2,119 shares of the healthcare conglomerate’s stock worth $1,239,000 after buying an additional 19 shares during the last quarter. Western Pacific Wealth Management LP boosted its position in UnitedHealth Group by 2.2% during the fourth quarter. Western Pacific Wealth Management LP now owns 902 shares of the healthcare conglomerate’s stock worth $456,000 after purchasing an additional 19 shares during the period. MCF Advisors LLC raised its position in shares of UnitedHealth Group by 0.8% in the fourth quarter. MCF Advisors LLC now owns 2,578 shares of the healthcare conglomerate’s stock valued at $1,304,000 after purchasing an additional 20 shares during the period. Axiom Financial Strategies LLC boosted its holdings in shares of UnitedHealth Group by 3.6% during the 4th quarter. Axiom Financial Strategies LLC now owns 575 shares of the healthcare conglomerate’s stock worth $291,000 after buying an additional 20 shares during the period. Finally, 44 Wealth Management LLC raised its holdings in UnitedHealth Group by 1.6% in the 4th quarter. 44 Wealth Management LLC now owns 1,309 shares of the healthcare conglomerate’s stock worth $662,000 after acquiring an additional 21 shares during the period. Institutional investors own 87.86% of the company’s stock.

UnitedHealth Group Stock Up 1.3 %

Shares of UNH opened at $517.72 on Friday. The business’s 50 day simple moving average is $510.19 and its 200-day simple moving average is $547.11. 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 one year low of $436.38 and a one year high of $630.73. The company has a market capitalization of $473.57 billion, a P/E ratio of 33.40, a PEG ratio of 1.37 and a beta of 0.62.

UnitedHealth Group (NYSE:UNH) last released its quarterly 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. The business had revenue of $100.81 billion during the quarter, compared to analysts’ expectations of $101.60 billion. UnitedHealth Group had a return on equity of 26.69% and a net margin of 3.60%. The firm’s revenue for the quarter was up 6.8% compared to the same quarter last year. During the same period in the previous year, the business posted $5.83 earnings per share. As a group, sell-side analysts predict that UnitedHealth Group Incorporated will post 29.54 EPS for the current fiscal year.

UnitedHealth Group Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 18th. Shareholders of record on Monday, March 10th were issued a dividend of $2.10 per share. This represents a $8.40 annualized dividend and a yield of 1.62%. The ex-dividend date was Monday, March 10th. UnitedHealth Group’s dividend payout ratio is 54.19%.

Wall Street Analysts Forecast Growth

UNH has been the topic of a number of recent analyst reports. Deutsche Bank Aktiengesellschaft lifted their price objective on UnitedHealth Group from $595.00 to $625.00 and gave the stock a “buy” rating in a research note on Tuesday, December 3rd. Wells Fargo & Company reduced their price objective on UnitedHealth Group from $694.00 to $660.00 and set an “overweight” rating for the company in a research report on Tuesday, January 28th. Oppenheimer upped their target price on shares of UnitedHealth Group from $610.00 to $640.00 and gave the company an “outperform” rating in a research note on Friday, December 6th. Barclays cut their price objective on shares of UnitedHealth Group from $655.00 to $642.00 and set an “overweight” rating for the company in a research report on Friday, January 17th. Finally, KeyCorp restated an “overweight” rating and set a $650.00 price target on shares of UnitedHealth Group in a research note on Friday, January 17th. Twenty equities research analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, UnitedHealth Group has an average rating of “Buy” and an average target price of $629.32.

Insider Transactions at UnitedHealth Group

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

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.