Steel Grove Capital Advisors LLC Acquires Shares of 711 UnitedHealth Group Incorporated (NYSE:UNH)

Steel Grove Capital Advisors LLC purchased a new stake in UnitedHealth Group Incorporated (NYSE:UNH) in the first quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 711 shares of the healthcare conglomerate’s stock, valued at approximately $352,000.

Several other large investors also recently added to or reduced their stakes in UNH. Sharkey Howes & Javer lifted its position in UnitedHealth Group by 3.7% in the fourth quarter. Sharkey Howes & Javer now owns 564 shares of the healthcare conglomerate’s stock worth $297,000 after buying an additional 20 shares during the last quarter. Bensler LLC lifted its holdings in shares of UnitedHealth Group by 0.3% in the 4th quarter. Bensler LLC now owns 7,313 shares of the healthcare conglomerate’s stock worth $3,850,000 after acquiring an additional 20 shares during the last quarter. Legend Financial Advisors Inc. grew its holdings in UnitedHealth Group by 27.4% during the 4th quarter. Legend Financial Advisors Inc. now owns 93 shares of the healthcare conglomerate’s stock valued at $49,000 after purchasing an additional 20 shares during the last quarter. Veracity Capital LLC boosted its position in shares of UnitedHealth Group by 1.5% during the first quarter. Veracity Capital LLC now owns 1,335 shares of the healthcare conglomerate’s stock valued at $660,000 after buying an additional 20 shares during the period. Finally, Rodgers Brothers Inc. lifted its stake in shares of UnitedHealth Group by 2.4% during the 1st quarter. Rodgers Brothers Inc. now owns 842 shares of the healthcare conglomerate’s stock worth $417,000 after acquiring an additional 20 shares during the last quarter. 87.86% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the stock. TD Cowen upped their price target on shares of UnitedHealth Group from $546.00 to $601.00 and gave the stock a “buy” rating in a report on Wednesday, July 17th. StockNews.com raised UnitedHealth Group from a “hold” rating to a “buy” rating in a research note on Friday, July 19th. Truist Financial increased their price target on UnitedHealth Group from $600.00 to $640.00 and gave the stock a “buy” rating in a research report on Wednesday, July 17th. Piper Sandler upped their price objective on shares of UnitedHealth Group from $566.00 to $571.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 17th. Finally, Royal Bank of Canada upped their price target on shares of UnitedHealth Group from $555.00 to $615.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 17th. One research analyst has rated the stock with a hold rating, nineteen have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus target price of $614.17.

UnitedHealth Group Stock Performance

Shares of NYSE UNH traded up $10.04 during midday trading on Friday, reaching $569.72. 3,202,023 shares of the stock were exchanged, compared to its average volume of 5,159,030. The firm has a 50-day simple moving average of $508.82 and a two-hundred day simple moving average of $501.45. UnitedHealth Group Incorporated has a twelve month low of $436.38 and a twelve month high of $581.50. The firm has a market cap of $524.36 billion, a price-to-earnings ratio of 34.82, a PEG ratio of 1.59 and a beta of 0.60. The company has a quick ratio of 0.85, a current ratio of 0.88 and a debt-to-equity ratio of 0.67.

UnitedHealth Group (NYSE:UNH) last posted its 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 business had revenue of $98.86 billion for the quarter, compared to analyst estimates of $98.73 billion. UnitedHealth Group had a net margin of 3.66% and a return on equity of 26.55%. The company’s revenue for the quarter was up 6.4% on a year-over-year basis. During the same period in the prior year, the company posted $6.14 EPS. As a group, analysts anticipate that UnitedHealth Group Incorporated will post 27.68 EPS for the current fiscal year.

UnitedHealth Group Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 25th. Stockholders of record on Monday, June 17th were given a $2.10 dividend. This is a positive change from UnitedHealth Group’s previous quarterly dividend of $1.88. The ex-dividend date of this dividend was Monday, June 17th. This represents a $8.40 annualized dividend and a dividend yield of 1.47%. UnitedHealth Group’s dividend payout ratio (DPR) is 51.34%.

Insider Buying and Selling

In other news, EVP Erin Mcsweeney sold 1,500 shares of the firm’s stock in a transaction that occurred 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 transaction, the executive vice president now owns 7,785 shares in the company, valued at $4,507,748.55. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, EVP Erin Mcsweeney sold 1,500 shares of the company’s stock in a transaction dated Thursday, July 18th. The shares were sold at an average price of $579.03, for a total transaction 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 approximately $4,507,748.55. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CAO Thomas E. Roos sold 2,851 shares of the company’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 owns 29,501 shares of the company’s stock, valued at $16,812,029.88. 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.