Precedent Wealth Partners LLC Takes $1.05 Million Position in UnitedHealth Group Incorporated (NYSE:UNH)

Precedent Wealth Partners LLC acquired a new position in shares of UnitedHealth Group Incorporated (NYSE:UNH) in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 1,791 shares of the healthcare conglomerate’s stock, valued at approximately $1,047,000.

Several other institutional investors have also modified their holdings of UNH. Vanguard Group Inc. lifted its holdings in UnitedHealth Group by 0.6% in the 1st quarter. Vanguard Group Inc. now owns 84,405,255 shares of the healthcare conglomerate’s stock valued at $41,755,280,000 after purchasing an additional 544,740 shares in the last quarter. Price T Rowe Associates Inc. MD increased its holdings in shares of UnitedHealth Group by 0.4% in the first quarter. Price T Rowe Associates Inc. MD now owns 26,062,928 shares of the healthcare conglomerate’s stock valued at $12,893,331,000 after purchasing an additional 94,641 shares during the last quarter. Bank of New York Mellon Corp increased its stake in shares of UnitedHealth Group by 0.4% in the 2nd quarter. Bank of New York Mellon Corp now owns 8,039,601 shares of the healthcare conglomerate’s stock worth $4,094,247,000 after acquiring an additional 35,533 shares during the last quarter. Dimensional Fund Advisors LP increased its position in UnitedHealth Group by 30.0% during the second quarter. Dimensional Fund Advisors LP now owns 3,816,254 shares of the healthcare conglomerate’s stock worth $1,942,956,000 after purchasing an additional 880,183 shares during the last quarter. Finally, Ameriprise Financial Inc. grew its stake in shares of UnitedHealth Group by 0.6% in the 2nd quarter. Ameriprise Financial Inc. now owns 3,772,487 shares of the healthcare conglomerate’s stock valued at $1,920,039,000 after buying an additional 21,149 shares during the period. Institutional investors and hedge funds own 87.86% of the company’s stock.

Analyst Upgrades and Downgrades

UNH has been the subject of several recent analyst reports. Argus raised their target price on UnitedHealth Group from $570.00 to $600.00 and gave the stock a “buy” rating in a research note on Wednesday, July 17th. StockNews.com raised shares of UnitedHealth Group from a “hold” rating to a “buy” rating in a research report on Wednesday. TD Cowen boosted their target price on shares of UnitedHealth Group from $601.00 to $609.00 and gave the stock a “buy” rating in a research note on Friday. Cantor Fitzgerald raised their price objective on shares of UnitedHealth Group from $591.00 to $644.00 and gave the stock an “overweight” rating in a report on Wednesday. Finally, KeyCorp started coverage on shares of UnitedHealth Group in a report on Friday, October 11th. They issued an “overweight” rating and a $675.00 target price on the stock. Two analysts have rated the stock with a hold rating, eighteen have given a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, UnitedHealth Group currently has a consensus rating of “Buy” and an average price target of $615.58.

UnitedHealth Group Price Performance

UnitedHealth Group stock opened at $569.61 on Friday. The firm’s 50-day moving average is $584.42 and its two-hundred day moving average is $533.63. 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 stock has a market capitalization of $525.99 billion, a P/E ratio of 37.77, a P/E/G ratio of 1.69 and a beta of 0.58. UnitedHealth Group Incorporated has a 12-month low of $436.38 and a 12-month high of $608.63.

UnitedHealth Group (NYSE:UNH) last issued its quarterly earnings results on Tuesday, October 15th. The healthcare conglomerate reported $7.15 earnings per share for the quarter, topping analysts’ consensus estimates of $7.00 by $0.15. The company had revenue of $100.82 billion for the quarter, compared to analyst estimates of $99.14 billion. UnitedHealth Group had a return on equity of 26.55% and a net margin of 3.66%. The business’s revenue for the quarter was up 9.2% compared to the same quarter last year. During the same quarter in the prior year, the company posted $6.56 EPS. Equities analysts predict that UnitedHealth Group Incorporated will post 27.68 earnings per share for the current year.

UnitedHealth Group Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 24th. Investors of record on Monday, September 16th were given a dividend of $2.10 per share. This represents a $8.40 annualized dividend and a yield of 1.47%. The ex-dividend date of this dividend was Monday, September 16th. UnitedHealth Group’s dividend payout ratio (DPR) is 55.70%.

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.