Procyon Private Wealth Partners LLC Increases Position in UnitedHealth Group Incorporated (NYSE:UNH)

Procyon Private Wealth Partners LLC raised its position in UnitedHealth Group Incorporated (NYSE:UNH) by 2.4% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 5,613 shares of the healthcare conglomerate’s stock after purchasing an additional 129 shares during the quarter. Procyon Private Wealth Partners LLC’s holdings in UnitedHealth Group were worth $2,193,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. FMR LLC increased its position in shares of UnitedHealth Group by 0.6% during the second quarter. FMR LLC now owns 50,452,463 shares of the healthcare conglomerate’s stock worth $20,203,185,000 after acquiring an additional 291,660 shares during the period. State Street Corp increased its position in shares of UnitedHealth Group by 1.9% during the second quarter. State Street Corp now owns 44,530,535 shares of the healthcare conglomerate’s stock worth $17,831,807,000 after acquiring an additional 838,941 shares during the period. Geode Capital Management LLC increased its position in shares of UnitedHealth Group by 4.7% during the second quarter. Geode Capital Management LLC now owns 15,110,522 shares of the healthcare conglomerate’s stock worth $6,033,290,000 after acquiring an additional 679,484 shares during the period. Bank of New York Mellon Corp increased its position in shares of UnitedHealth Group by 3.8% during the second quarter. Bank of New York Mellon Corp now owns 9,579,497 shares of the healthcare conglomerate’s stock worth $3,836,011,000 after acquiring an additional 354,695 shares during the period. Finally, Morgan Stanley increased its position in shares of UnitedHealth Group by 9.7% during the second quarter. Morgan Stanley now owns 8,693,237 shares of the healthcare conglomerate’s stock worth $3,481,120,000 after acquiring an additional 768,188 shares during the period. 86.20% of the stock is currently owned by institutional investors.

In other news, Director Stephen J. Hemsley sold 75,000 shares of the stock in a transaction that occurred on Monday, October 25th. The shares were sold at an average price of $448.72, for a total value of $33,654,000.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Richard T. Burke sold 2,500 shares of the stock in a transaction that occurred on Tuesday, September 14th. The shares were sold at an average price of $416.75, for a total transaction of $1,041,875.00. Following the completion of the sale, the director now owns 154,403 shares in the company, valued at $64,347,450.25. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 82,500 shares of company stock valued at $36,855,125. 0.55% of the stock is currently owned by corporate insiders.

A number of equities analysts recently commented on the stock. BMO Capital Markets boosted their target price on shares of UnitedHealth Group from $435.00 to $475.00 and gave the stock a “market perform” rating in a research note on Monday, October 18th. Wells Fargo & Company boosted their target price on shares of UnitedHealth Group from $478.00 to $520.00 and gave the stock an “overweight” rating in a research note on Monday, October 25th. Morgan Stanley boosted their target price on shares of UnitedHealth Group from $488.00 to $499.00 and gave the stock an “overweight” rating in a research note on Friday, October 15th. Credit Suisse Group boosted their target price on shares of UnitedHealth Group from $462.00 to $495.00 and gave the stock an “outperform” rating in a research note on Friday, October 15th. Finally, Zacks Investment Research upgraded shares of UnitedHealth Group from a “hold” rating to a “buy” rating and set a $477.00 price objective for the company in a research note on Wednesday, October 27th. One equities research analyst has rated the stock with a hold rating, twenty-one have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, UnitedHealth Group has a consensus rating of “Buy” and an average price target of $477.35.

NYSE UNH opened at $450.16 on Thursday. The stock has a market capitalization of $423.98 billion, a P/E ratio of 27.93, a P/E/G ratio of 1.75 and a beta of 0.85. UnitedHealth Group Incorporated has a 52-week low of $320.35 and a 52-week high of $466.00. The firm has a 50-day moving average price of $430.47 and a 200 day moving average price of $418.01. The company has a quick ratio of 0.77, a current ratio of 0.77 and a debt-to-equity ratio of 0.59.

UnitedHealth Group (NYSE:UNH) last posted its quarterly earnings results on Thursday, October 14th. The healthcare conglomerate reported $4.52 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.41 by $0.11. The firm had revenue of $72.34 billion during the quarter, compared to analysts’ expectations of $71.24 billion. UnitedHealth Group had a net margin of 5.52% and a return on equity of 23.08%. The firm’s revenue for the quarter was up 11.1% on a year-over-year basis. During the same period in the prior year, the company posted $3.51 earnings per share. On average, equities research analysts expect that UnitedHealth Group Incorporated will post 18.84 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 14th. Shareholders of record on Monday, December 6th will be issued a $1.45 dividend. The ex-dividend date of this dividend is Friday, December 3rd. This represents a $5.80 dividend on an annualized basis and a yield of 1.29%. UnitedHealth Group’s dividend payout ratio (DPR) is presently 35.98%.

UnitedHealth Group Profile

UnitedHealth Group, Inc engages in the provision of health care coverage, software, and data consultancy services. It operates through the following segments: UnitedHealthcare, OptumHealth, OptumInsight, and OptumRx. The UnitedHealthcare segment utilizes Optum’s capabilities to help coordinate patient care, improve affordability of medical care, analyze cost trends, manage pharmacy benefits, work with care providers more effectively, and create a simpler consumer experience.

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Institutional Ownership by Quarter for UnitedHealth Group (NYSE:UNH)

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