Griffin Asset Management Inc. Has $7.65 Million Stake in UnitedHealth Group Incorporated (NYSE:UNH)

Griffin Asset Management Inc. boosted its holdings in shares of UnitedHealth Group Incorporated (NYSE:UNH) by 11.8% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 15,455 shares of the healthcare conglomerate’s stock after buying an additional 1,635 shares during the period. Griffin Asset Management Inc.’s holdings in UnitedHealth Group were worth $7,646,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Paralel Advisors LLC boosted its holdings in UnitedHealth Group by 1.1% during the 3rd quarter. Paralel Advisors LLC now owns 4,047 shares of the healthcare conglomerate’s stock worth $2,040,000 after acquiring an additional 44 shares during the last quarter. Dempze Nancy E boosted its holdings in UnitedHealth Group by 3.8% during the third quarter. Dempze Nancy E now owns 6,270 shares of the healthcare conglomerate’s stock worth $3,161,000 after purchasing an additional 232 shares during the last quarter. Caisse DE Depot ET Placement DU Quebec increased its stake in UnitedHealth Group by 18.4% in the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 459,102 shares of the healthcare conglomerate’s stock valued at $231,475,000 after buying an additional 71,456 shares during the last quarter. Waverly Advisors LLC grew its holdings in shares of UnitedHealth Group by 8.7% in the third quarter. Waverly Advisors LLC now owns 5,088 shares of the healthcare conglomerate’s stock valued at $2,565,000 after acquiring an additional 407 shares in the last quarter. Finally, Kolinsky Wealth Management LLC lifted its holdings in UnitedHealth Group by 3.3% during the third quarter. Kolinsky Wealth Management LLC now owns 2,552 shares of the healthcare conglomerate’s stock worth $1,287,000 after acquiring an additional 81 shares during the period. 87.86% of the stock is currently owned by institutional investors and hedge funds.

UnitedHealth Group Price Performance

Shares of NYSE UNH opened at $509.26 on Friday. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.69. The stock’s 50-day simple moving average is $498.34 and its two-hundred day simple moving average is $501.96. The firm has a market capitalization of $468.72 billion, a P/E ratio of 31.13, a P/E/G ratio of 1.48 and a beta of 0.58. UnitedHealth Group Incorporated has a twelve month low of $436.38 and a twelve month high of $554.70.

UnitedHealth Group (NYSE:UNH) last issued its quarterly earnings results on Tuesday, April 16th. The healthcare conglomerate reported $6.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $6.63 by $0.28. The firm had revenue of $99.80 billion during the quarter, compared to analyst estimates of $99.23 billion. UnitedHealth Group had a return on equity of 26.50% and a net margin of 4.05%. The company’s revenue was up 8.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $6.26 earnings per share. As a group, equities analysts anticipate that UnitedHealth Group Incorporated will post 27.55 EPS for the current fiscal year.

UnitedHealth Group Increases Dividend

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

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on UNH shares. Bank of America reaffirmed a “buy” rating and set a $675.00 target price on shares of UnitedHealth Group in a research report on Thursday, March 7th. Truist Financial reiterated a “buy” rating and issued a $600.00 target price on shares of UnitedHealth Group in a research note on Wednesday, April 17th. JPMorgan Chase & Co. lifted their price target on shares of UnitedHealth Group from $546.00 to $559.00 and gave the stock an “overweight” rating in a report on Thursday, May 30th. TD Cowen decreased their target price on UnitedHealth Group from $607.00 to $546.00 and set a “buy” rating for the company in a research report on Wednesday, April 10th. Finally, Morgan Stanley cut their price target on UnitedHealth Group from $618.00 to $584.00 and set an “overweight” rating for the company in a research note on Friday, April 5th. Three analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $579.74.

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.