Bay Rivers Group Sells 1,780 Shares of UnitedHealth Group Incorporated (NYSE:UNH)

Bay Rivers Group trimmed its position in shares of UnitedHealth Group Incorporated (NYSE:UNH) by 27.4% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 4,723 shares of the healthcare conglomerate’s stock after selling 1,780 shares during the quarter. UnitedHealth Group accounts for approximately 1.4% of Bay Rivers Group’s investment portfolio, making the stock its 27th largest holding. Bay Rivers Group’s holdings in UnitedHealth Group were worth $2,762,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Tealwood Asset Management Inc. bought a new position in UnitedHealth Group in the third quarter valued at about $2,905,000. Asset Planning Services Inc. LA ADV lifted its holdings in UnitedHealth Group by 1.2% in the third quarter. Asset Planning Services Inc. LA ADV now owns 12,465 shares of the healthcare conglomerate’s stock valued at $7,288,000 after buying an additional 150 shares during the period. Vantage Investment Partners LLC grew its holdings in UnitedHealth Group by 42.2% during the 1st quarter. Vantage Investment Partners LLC now owns 152,107 shares of the healthcare conglomerate’s stock worth $75,247,000 after acquiring an additional 45,173 shares during the period. Sequoia Financial Advisors LLC lifted its stake in shares of UnitedHealth Group by 13.7% in the 3rd quarter. Sequoia Financial Advisors LLC now owns 24,976 shares of the healthcare conglomerate’s stock valued at $14,603,000 after purchasing an additional 3,006 shares during the period. Finally, Maryland State Retirement & Pension System grew its stake in shares of UnitedHealth Group by 0.6% during the first quarter. Maryland State Retirement & Pension System now owns 72,689 shares of the healthcare conglomerate’s stock worth $35,126,000 after purchasing an additional 469 shares during the period. 87.86% of the stock is owned by institutional investors and hedge funds.

UnitedHealth Group Price Performance

NYSE:UNH opened at $562.13 on Wednesday. The company has a debt-to-equity ratio of 0.74, a quick ratio of 0.88 and a current ratio of 0.91. The stock’s 50-day simple moving average is $582.88 and its 200 day simple moving average is $540.32. The company has a market cap of $519.08 billion, a P/E ratio of 36.62, a P/E/G ratio of 1.66 and a beta of 0.58. UnitedHealth Group Incorporated has a 52-week low of $436.38 and a 52-week high of $608.63.

UnitedHealth Group (NYSE:UNH) last released its quarterly earnings data on Tuesday, October 15th. The healthcare conglomerate reported $7.15 EPS for the quarter, beating the consensus estimate of $7.00 by $0.15. The company had revenue of $100.82 billion during the quarter, compared to the consensus estimate of $99.14 billion. UnitedHealth Group had a return on equity of 26.37% and a net margin of 3.63%. The firm’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 firm posted $6.56 EPS. As a group, sell-side analysts forecast that UnitedHealth Group Incorporated will post 27.61 EPS for the current fiscal year.

UnitedHealth Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 24th. Shareholders of record on Monday, September 16th were paid a $2.10 dividend. The ex-dividend date was Monday, September 16th. This represents a $8.40 annualized dividend and a yield of 1.49%. UnitedHealth Group’s dividend payout ratio is 54.72%.

Wall Street Analyst Weigh In

UNH has been the subject of several analyst reports. Jefferies Financial Group upgraded UnitedHealth Group from a “hold” rating to a “buy” rating and boosted their target price for the stock from $481.00 to $647.00 in a research report on Wednesday, July 17th. UBS Group lowered their target price on shares of UnitedHealth Group from $680.00 to $650.00 and set a “buy” rating for the company in a research note on Wednesday, October 16th. Barclays decreased their price target on shares of UnitedHealth Group from $604.00 to $603.00 and set an “overweight” rating for the company in a report on Tuesday, October 22nd. Truist Financial reiterated a “buy” rating and set a $625.00 target price (down from $640.00) on shares of UnitedHealth Group in a report on Wednesday, October 16th. Finally, TD Cowen raised their price target on UnitedHealth Group from $601.00 to $609.00 and gave the stock a “buy” rating in a research report on Friday, October 18th. Four analysts have rated the stock with a hold rating, seventeen have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, UnitedHealth Group currently has a consensus rating of “Moderate Buy” and an average price target of $615.53.

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.