Atlantic Union Bankshares Corp Reduces Position in UnitedHealth Group Incorporated (NYSE:UNH)

Atlantic Union Bankshares Corp trimmed its position in UnitedHealth Group Incorporated (NYSE:UNH) by 3.2% in the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 18,287 shares of the healthcare conglomerate’s stock after selling 614 shares during the period. UnitedHealth Group accounts for about 0.8% of Atlantic Union Bankshares Corp’s investment portfolio, making the stock its 29th biggest holding. Atlantic Union Bankshares Corp’s holdings in UnitedHealth Group were worth $9,047,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of UNH. Vanguard Group Inc. raised its stake in UnitedHealth Group by 0.3% during the 4th quarter. Vanguard Group Inc. now owns 83,860,515 shares of the healthcare conglomerate’s stock valued at $44,150,045,000 after acquiring an additional 250,291 shares in the last quarter. Wellington Management Group LLP increased its position in shares of UnitedHealth Group by 2.1% during the 3rd quarter. Wellington Management Group LLP now owns 25,220,234 shares of the healthcare conglomerate’s stock valued at $12,715,790,000 after purchasing an additional 527,526 shares during the period. Capital Research Global Investors increased its position in shares of UnitedHealth Group by 2.2% during the 4th quarter. Capital Research Global Investors now owns 15,122,203 shares of the healthcare conglomerate’s stock valued at $7,961,369,000 after purchasing an additional 324,733 shares during the period. Capital International Investors grew its holdings in shares of UnitedHealth Group by 4.8% in the 4th quarter. Capital International Investors now owns 11,860,985 shares of the healthcare conglomerate’s stock worth $6,244,158,000 after acquiring an additional 542,424 shares during the last quarter. Finally, Norges Bank acquired a new position in shares of UnitedHealth Group in the 4th quarter worth $5,802,231,000. 87.86% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

UNH has been the subject of several recent analyst reports. Barclays raised their target price on UnitedHealth Group from $534.00 to $560.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 17th. StockNews.com cut UnitedHealth Group from a “buy” rating to a “hold” rating in a research report on Friday. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $591.00 target price on shares of UnitedHealth Group in a research report on Wednesday, June 12th. Robert W. Baird assumed coverage on UnitedHealth Group in a research report on Thursday, May 30th. They issued an “outperform” rating and a $597.00 target price for the company. Finally, Wells Fargo & Company reduced their price objective on UnitedHealth Group from $600.00 to $525.00 and set an “overweight” rating for the company in a research report on Monday, April 8th. Three analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $579.74.

UnitedHealth Group Stock Up 4.8 %

Shares of UNH opened at $509.58 on Friday. The company has a market capitalization of $469.01 billion, a P/E ratio of 31.15, a PEG ratio of 1.41 and a beta of 0.58. The company has a debt-to-equity ratio of 0.69, a current ratio of 0.85 and a quick ratio of 0.85. UnitedHealth Group Incorporated has a one year low of $436.38 and a one year high of $554.70. The business’s 50 day simple moving average is $498.34 and its 200-day simple moving average is $502.27.

UnitedHealth Group (NYSE:UNH) last announced its earnings results on Tuesday, April 16th. The healthcare conglomerate reported $6.91 EPS for the quarter, topping the consensus estimate of $6.63 by $0.28. UnitedHealth Group had a return on equity of 26.50% and a net margin of 4.05%. The business had revenue of $99.80 billion for the quarter, compared to the consensus estimate of $99.23 billion. During the same period in the previous year, the business earned $6.26 EPS. UnitedHealth Group’s revenue was up 8.6% compared to the same quarter last year. As a group, sell-side analysts predict that UnitedHealth Group Incorporated will post 27.57 EPS for the current fiscal year.

UnitedHealth Group Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 25th. Shareholders of record on Monday, June 17th were issued a dividend of $2.10 per share. This is an increase from UnitedHealth Group’s previous quarterly dividend of $1.88. The ex-dividend date of this dividend was Monday, June 17th. This represents a $8.40 annualized dividend and a yield of 1.65%. UnitedHealth Group’s dividend payout ratio is currently 51.34%.

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.