Edge Wealth Management LLC Sells 393 Shares of UnitedHealth Group Incorporated (NYSE:UNH)

Edge Wealth Management LLC trimmed its stake in shares of UnitedHealth Group Incorporated (NYSE:UNH) by 51.2% during the third quarter, HoldingsChannel.com reports. The firm owned 374 shares of the healthcare conglomerate’s stock after selling 393 shares during the quarter. Edge Wealth Management LLC’s holdings in UnitedHealth Group were worth $219,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Swedbank AB bought a new position in shares of UnitedHealth Group in the 1st quarter worth approximately $1,117,462,000. Mitsubishi UFJ Asset Management Co. Ltd. boosted its stake in shares of UnitedHealth Group by 107.8% in the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 2,306,729 shares of the healthcare conglomerate’s stock worth $1,141,113,000 after buying an additional 1,196,758 shares during the last quarter. Lone Pine Capital LLC bought a new position in UnitedHealth Group in the 2nd quarter worth $480,903,000. Dimensional Fund Advisors LP raised its holdings in UnitedHealth Group by 30.0% in the 2nd 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 period. Finally, Baillie Gifford & Co. grew its holdings in UnitedHealth Group by 1,125.4% during the 2nd quarter. Baillie Gifford & Co. now owns 894,006 shares of the healthcare conglomerate’s stock valued at $455,281,000 after buying an additional 821,050 shares in the last quarter. 87.86% of the stock is currently owned by hedge funds and other institutional investors.

UnitedHealth Group Price Performance

Shares of UNH traded down $50.95 during trading hours on Tuesday, hitting $554.45. 11,935,688 shares of the stock were exchanged, compared to its average volume of 3,953,983. The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.88 and a current ratio of 0.88. UnitedHealth Group Incorporated has a 12-month low of $436.38 and a 12-month high of $608.63. The company has a market cap of $511.99 billion, a price-to-earnings ratio of 37.34, a price-to-earnings-growth ratio of 1.66 and a beta of 0.58. The stock’s 50-day moving average price is $584.39 and its two-hundred day moving average price is $532.15.

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

UnitedHealth Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 24th. Stockholders of record on Monday, September 16th were issued a dividend of $2.10 per share. This represents a $8.40 dividend on an annualized basis and a dividend yield of 1.52%. The ex-dividend date of this dividend was Monday, September 16th. UnitedHealth Group’s dividend payout ratio is presently 55.70%.

Insider Transactions at UnitedHealth Group

In related news, EVP Erin Mcsweeney sold 1,500 shares of the stock in a transaction dated 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 of the company’s stock, valued at approximately $4,507,748.55. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, EVP Erin Mcsweeney sold 1,500 shares of the stock in a transaction dated Thursday, July 18th. The stock was sold at an average price of $579.03, for a total value of $868,545.00. Following the transaction, the executive vice president now owns 7,785 shares in the company, valued at approximately $4,507,748.55. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CAO Thomas E. Roos sold 2,851 shares of the stock in a transaction dated 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 transaction, the chief accounting officer now owns 29,501 shares in the company, valued at approximately $16,812,029.88. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.33% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently weighed in on the stock. Robert W. Baird raised their target price on shares of UnitedHealth Group from $597.00 to $640.00 and gave the company an “outperform” rating in a report on Wednesday, July 17th. KeyCorp started coverage on UnitedHealth Group in a research report on Friday. They issued an “overweight” rating and a $675.00 price target for the company. Barclays lifted their target price on UnitedHealth Group from $560.00 to $604.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 17th. TD Cowen lifted their price objective on UnitedHealth Group from $546.00 to $601.00 and gave the company a “buy” rating in a report on Wednesday, July 17th. Finally, Argus lifted their price objective on UnitedHealth Group from $570.00 to $600.00 and gave the company a “buy” rating in a report on Wednesday, July 17th. Two analysts have rated the stock with a hold rating, eighteen have given a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Buy” and an average target price of $617.37.

UnitedHealth Group 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.