Connecticut Wealth Management LLC Decreases Holdings in UnitedHealth Group Incorporated (NYSE:UNH)

Connecticut Wealth Management LLC lowered its stake in UnitedHealth Group Incorporated (NYSE:UNH) by 5.2% in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 11,629 shares of the healthcare conglomerate’s stock after selling 636 shares during the quarter. Connecticut Wealth Management LLC’s holdings in UnitedHealth Group were worth $5,922,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Bell Investment Advisors Inc lifted its holdings in UnitedHealth Group by 4.8% in the 4th quarter. Bell Investment Advisors Inc now owns 525 shares of the healthcare conglomerate’s stock worth $276,000 after buying an additional 24 shares in the last quarter. Harbor Investment Advisory LLC grew its stake in UnitedHealth Group by 3.2% during the 1st quarter. Harbor Investment Advisory LLC now owns 35,946 shares of the healthcare conglomerate’s stock valued at $17,783,000 after purchasing an additional 1,129 shares in the last quarter. Austin Private Wealth LLC raised its position in shares of UnitedHealth Group by 9.8% in the 1st quarter. Austin Private Wealth LLC now owns 1,246 shares of the healthcare conglomerate’s stock valued at $573,000 after purchasing an additional 111 shares in the last quarter. Capital Insight Partners LLC increased its stake in shares of UnitedHealth Group by 3.8% in the first quarter. Capital Insight Partners LLC now owns 9,045 shares of the healthcare conglomerate’s stock worth $4,475,000 after buying an additional 332 shares during the last quarter. Finally, Collective Family Office LLC grew its holdings in UnitedHealth Group by 4.3% during the 1st quarter. Collective Family Office LLC now owns 1,577 shares of the healthcare conglomerate’s stock worth $780,000 after acquiring an additional 65 shares in the last quarter. 87.86% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the stock. Barclays increased their price target on shares of UnitedHealth Group from $560.00 to $604.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 17th. UBS Group raised their price objective on UnitedHealth Group from $640.00 to $680.00 and gave the stock a “buy” rating in a research note on Thursday, July 18th. Baird R W raised shares of UnitedHealth Group to a “strong-buy” rating in a report on Thursday, May 30th. Royal Bank of Canada boosted their price objective on shares of UnitedHealth Group from $555.00 to $615.00 and gave the company an “outperform” rating in a research report on Wednesday, July 17th. Finally, Morgan Stanley upped their target price on UnitedHealth Group from $595.00 to $615.00 and gave the company an “overweight” rating in a report on Wednesday, July 17th. One investment analyst has rated the stock with a hold rating, nineteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Buy” and an average price target of $614.17.

Insider Buying and Selling

In other news, CAO Thomas E. Roos sold 2,851 shares of UnitedHealth Group stock in a transaction that occurred on Wednesday, July 17th. The shares were sold at an average price of $569.88, for a total value of $1,624,727.88. Following the transaction, the chief accounting officer now directly owns 29,501 shares of the company’s stock, valued at $16,812,029.88. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, CAO Thomas E. Roos sold 2,851 shares of UnitedHealth Group stock in a transaction on Wednesday, July 17th. The stock was sold at an average price of $569.88, for a total transaction of $1,624,727.88. Following the transaction, the chief accounting officer now owns 29,501 shares in the company, valued at $16,812,029.88. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Erin Mcsweeney sold 1,500 shares of UnitedHealth Group stock in a transaction dated Thursday, July 18th. The shares were sold at an average price of $579.03, for a total value of $868,545.00. Following the transaction, the executive vice president now directly owns 7,785 shares in the company, valued at approximately $4,507,748.55. The disclosure for this sale can be found here. 0.33% of the stock is currently owned by company insiders.

UnitedHealth Group Stock Performance

UNH opened at $575.00 on Friday. UnitedHealth Group Incorporated has a 1-year low of $436.38 and a 1-year high of $607.94. The company has a debt-to-equity ratio of 0.67, a current ratio of 0.88 and a quick ratio of 0.88. The business has a 50 day moving average price of $577.10 and a two-hundred day moving average price of $520.47. The company has a market capitalization of $529.22 billion, a price-to-earnings ratio of 35.15, a price-to-earnings-growth ratio of 1.64 and a beta of 0.58.

UnitedHealth Group (NYSE:UNH) last issued its quarterly earnings results on Tuesday, July 16th. The healthcare conglomerate reported $6.80 EPS for the quarter, topping the consensus estimate of $6.66 by $0.14. The firm had revenue of $98.86 billion for the quarter, compared to analysts’ expectations of $98.73 billion. UnitedHealth Group had a net margin of 3.66% and a return on equity of 26.55%. UnitedHealth Group’s revenue for the quarter was up 6.4% compared to the same quarter last year. During the same period in the previous year, the business earned $6.14 earnings per share. Research analysts predict that UnitedHealth Group Incorporated will post 27.69 EPS for the current fiscal year.

UnitedHealth Group Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 24th. Investors of record on Monday, September 16th will be issued a $2.10 dividend. This represents a $8.40 dividend on an annualized basis and a dividend yield of 1.46%. The ex-dividend date of this dividend is Monday, September 16th. UnitedHealth Group’s payout ratio is 51.34%.

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.