Red Door Wealth Management LLC Boosts Holdings in UnitedHealth Group Incorporated (NYSE:UNH)

Red Door Wealth Management LLC increased its holdings in UnitedHealth Group Incorporated (NYSE:UNH) by 2.0% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 15,079 shares of the healthcare conglomerate’s stock after buying an additional 302 shares during the quarter. UnitedHealth Group accounts for about 1.4% of Red Door Wealth Management LLC’s investment portfolio, making the stock its 21st largest position. Red Door Wealth Management LLC’s holdings in UnitedHealth Group were worth $7,460,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in UNH. Waverly Advisors LLC raised its stake in UnitedHealth Group by 8.7% during the 3rd quarter. Waverly Advisors LLC now owns 5,088 shares of the healthcare conglomerate’s stock worth $2,565,000 after acquiring an additional 407 shares during the period. Hodges Capital Management Inc. bought a new stake in shares of UnitedHealth Group during the third quarter valued at approximately $1,127,000. Kidder Stephen W raised its position in shares of UnitedHealth Group by 10.0% during the third quarter. Kidder Stephen W now owns 13,771 shares of the healthcare conglomerate’s stock valued at $6,943,000 after buying an additional 1,251 shares during the last quarter. Gateway Advisory LLC raised its position in shares of UnitedHealth Group by 2.5% during the third quarter. Gateway Advisory LLC now owns 9,399 shares of the healthcare conglomerate’s stock valued at $4,739,000 after buying an additional 226 shares during the last quarter. Finally, Provident Investment Management Inc. raised its position in shares of UnitedHealth Group by 3.9% during the third quarter. Provident Investment Management Inc. now owns 88,459 shares of the healthcare conglomerate’s stock valued at $44,600,000 after buying an additional 3,347 shares during the last quarter. Hedge funds and other institutional investors own 87.86% of the company’s stock.

UnitedHealth Group Stock Up 4.7 %

Shares of UNH opened at $509.26 on Monday. 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 0.60. UnitedHealth Group Incorporated has a 12-month low of $436.38 and a 12-month high of $554.70. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.69. The firm has a fifty day moving average price of $498.34 and a 200-day moving average price of $501.63.

UnitedHealth Group (NYSE:UNH) last issued its earnings results on Tuesday, April 16th. The healthcare conglomerate reported $6.91 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 net margin of 4.05% and a return on equity of 26.50%. The business’s revenue was up 8.6% on a year-over-year basis. During the same period in the previous year, the firm earned $6.26 earnings per share. Equities research analysts expect that UnitedHealth Group Incorporated will post 27.55 earnings per share for the current year.

UnitedHealth Group Increases Dividend

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

Wall Street Analysts Forecast Growth

UNH has been the topic of several recent analyst reports. Truist Financial reiterated a “buy” rating and set a $600.00 price objective on shares of UnitedHealth Group in a research report on Wednesday, April 17th. Morgan Stanley reduced their price target on shares of UnitedHealth Group from $618.00 to $584.00 and set an “overweight” rating on the stock in a research report on Friday, April 5th. Piper Sandler boosted their price target on shares of UnitedHealth Group from $566.00 to $571.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 17th. Royal Bank of Canada reduced their price target 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. Finally, Robert W. Baird began coverage on shares of UnitedHealth Group in a research report on Thursday, May 30th. They issued an “outperform” rating and a $597.00 price target on the stock. 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 company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $579.74.

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.