Patten Group Inc. Has $3.32 Million Stock Holdings in UnitedHealth Group Incorporated (NYSE:UNH)

Patten Group Inc. grew its holdings in UnitedHealth Group Incorporated (NYSE:UNH) by 2.5% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 5,679 shares of the healthcare conglomerate’s stock after purchasing an additional 139 shares during the quarter. Patten Group Inc.’s holdings in UnitedHealth Group were worth $3,320,000 at the end of the most recent reporting period.

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

UnitedHealth Group Trading Up 1.7 %

Shares of UnitedHealth Group stock opened at $591.22 on Thursday. UnitedHealth Group Incorporated has a 1 year low of $436.38 and a 1 year high of $607.94. The business has a 50 day moving average price of $582.68 and a 200 day moving average price of $529.13. 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 company has a market capitalization of $545.94 billion, a P/E ratio of 36.14, a P/E/G ratio of 1.65 and a beta of 0.58.

UnitedHealth Group (NYSE:UNH) last released its quarterly earnings results on Tuesday, July 16th. The healthcare conglomerate reported $6.80 earnings per share (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 the consensus estimate of $98.73 billion. UnitedHealth Group had a net margin of 3.66% and a return on equity of 26.55%. The firm’s quarterly revenue was up 6.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $6.14 EPS. Sell-side analysts anticipate that UnitedHealth Group Incorporated will post 27.69 EPS for the current fiscal year.

UnitedHealth Group Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 24th. Shareholders of record on Monday, September 16th were given a $2.10 dividend. This represents a $8.40 annualized dividend and a yield of 1.42%. The ex-dividend date was Monday, September 16th. UnitedHealth Group’s dividend payout ratio (DPR) is presently 51.34%.

Analysts Set New Price Targets

Several research analysts have issued reports on the company. Truist Financial increased their price target on UnitedHealth Group from $600.00 to $640.00 and gave the stock a “buy” rating in a report on Wednesday, July 17th. HSBC raised their price target on UnitedHealth Group from $580.00 to $610.00 in a report on Thursday, July 18th. Wells Fargo & Company raised their target price on shares of UnitedHealth Group from $525.00 to $630.00 and gave the company an “overweight” rating in a research note on Wednesday, July 17th. Barclays lifted their target price 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. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and set a $591.00 price objective on shares of UnitedHealth Group in a research note on Tuesday, October 1st. Two equities research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $614.17.

Insider Buying and Selling

In other news, EVP Erin Mcsweeney sold 1,500 shares of the firm’s stock in a transaction on Thursday, July 18th. The stock was sold at an average price of $579.03, for a total value of $868,545.00. Following the completion of the sale, the executive vice president now owns 7,785 shares of the company’s stock, valued at $4,507,748.55. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. In other UnitedHealth Group news, EVP Erin Mcsweeney sold 1,500 shares of the stock in a transaction that occurred on Thursday, July 18th. The stock was sold at an average price of $579.03, for a total transaction of $868,545.00. Following the transaction, the executive vice president now owns 7,785 shares in the company, valued at $4,507,748.55. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CAO Thomas E. Roos sold 2,851 shares of the firm’s 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 completion of the sale, the chief accounting officer now directly owns 29,501 shares in the company, valued at $16,812,029.88. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.33% of the company’s stock.

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.