Reliant Investment Management LLC Boosts Stock Position in UnitedHealth Group Incorporated (NYSE:UNH)

Reliant Investment Management LLC grew its stake in shares of UnitedHealth Group Incorporated (NYSE:UNH) by 2.2% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 11,533 shares of the healthcare conglomerate’s stock after purchasing an additional 251 shares during the quarter. UnitedHealth Group makes up about 2.7% of Reliant Investment Management LLC’s holdings, making the stock its 18th biggest position. Reliant Investment Management LLC’s holdings in UnitedHealth Group were worth $5,705,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also modified their holdings of the company. Weaver Consulting Group increased its position in UnitedHealth Group by 4.6% during the first quarter. Weaver Consulting Group now owns 593 shares of the healthcare conglomerate’s stock worth $293,000 after buying an additional 26 shares during the period. Occidental Asset Management LLC grew its position in shares of UnitedHealth Group by 1.7% during the first quarter. Occidental Asset Management LLC now owns 6,293 shares of the healthcare conglomerate’s stock worth $3,113,000 after acquiring an additional 106 shares during the last quarter. Independence Bank of Kentucky grew its position in shares of UnitedHealth Group by 27.5% during the first quarter. Independence Bank of Kentucky now owns 6,267 shares of the healthcare conglomerate’s stock worth $3,100,000 after acquiring an additional 1,353 shares during the last quarter. OneAscent Financial Services LLC grew its position in shares of UnitedHealth Group by 2.5% during the first quarter. OneAscent Financial Services LLC now owns 3,288 shares of the healthcare conglomerate’s stock worth $1,627,000 after acquiring an additional 80 shares during the last quarter. Finally, S.E.E.D. Planning Group LLC grew its position in shares of UnitedHealth Group by 20.1% during the first quarter. S.E.E.D. Planning Group LLC now owns 8,661 shares of the healthcare conglomerate’s stock worth $4,285,000 after acquiring an additional 1,448 shares during the last quarter. Institutional investors and hedge funds own 87.86% of the company’s stock.

Analysts Set New Price Targets

UNH has been the topic of a number of research reports. HSBC upgraded shares of UnitedHealth Group from a “hold” rating to a “buy” rating and set a $580.00 target price on the stock in a research report on Wednesday, June 5th. TD Cowen lowered their price objective on shares of UnitedHealth Group from $607.00 to $546.00 and set a “buy” rating on the stock in a research report on Wednesday, April 10th. Royal Bank of Canada lowered their price objective on shares of UnitedHealth Group from $596.00 to $555.00 and set an “outperform” rating on the stock in a research report on Wednesday, April 17th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $591.00 price objective on shares of UnitedHealth Group in a research report on Wednesday, June 12th. Finally, JPMorgan Chase & Co. lifted their price objective on shares of UnitedHealth Group from $546.00 to $559.00 and gave the company an “overweight” rating in a research report on Thursday, May 30th. Three analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $579.74.

UnitedHealth Group Trading Up 4.7 %

Shares of UNH stock opened at $509.26 on Friday. UnitedHealth Group Incorporated has a fifty-two week low of $436.38 and a fifty-two week high of $554.70. The stock has a market cap 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. The business has a fifty day simple moving average of $498.34 and a 200-day simple moving average of $501.96. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.69.

UnitedHealth Group (NYSE:UNH) last announced its quarterly earnings results on Tuesday, April 16th. The healthcare conglomerate reported $6.91 earnings per share for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $99.23 billion. During the same quarter last year, the business posted $6.26 earnings per share. The business’s revenue for the quarter was up 8.6% on a year-over-year basis. On average, analysts forecast that UnitedHealth Group Incorporated will post 27.55 earnings per share for the current fiscal year.

UnitedHealth Group Increases Dividend

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

UnitedHealth Group Company 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.