Summit Financial Strategies Inc. Sells 47 Shares of UnitedHealth Group Incorporated (NYSE:UNH)

Summit Financial Strategies Inc. reduced its stake in shares of UnitedHealth Group Incorporated (NYSE:UNH) by 3.2% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,403 shares of the healthcare conglomerate’s stock after selling 47 shares during the quarter. Summit Financial Strategies Inc.’s holdings in UnitedHealth Group were worth $714,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in the stock. Delos Wealth Advisors LLC boosted its position in UnitedHealth Group by 757.1% during the 1st quarter. Delos Wealth Advisors LLC now owns 60 shares of the healthcare conglomerate’s stock valued at $30,000 after acquiring an additional 53 shares in the last quarter. True Wealth Design LLC acquired a new position in shares of UnitedHealth Group during the fourth quarter valued at approximately $31,000. Bbjs Financial Advisors LLC purchased a new position in UnitedHealth Group in the 2nd quarter valued at $31,000. Signature Resources Capital Management LLC lifted its holdings in UnitedHealth Group by 40.0% in the second quarter. Signature Resources Capital Management LLC now owns 63 shares of the healthcare conglomerate’s stock valued at $32,000 after acquiring an additional 18 shares during the last quarter. Finally, Red Tortoise LLC increased its stake in UnitedHealth Group by 45.1% during the first quarter. Red Tortoise LLC now owns 74 shares of the healthcare conglomerate’s stock worth $36,000 after acquiring an additional 23 shares during the last quarter. Hedge funds and other institutional investors own 87.86% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the company. UBS Group raised their price objective on UnitedHealth Group from $640.00 to $680.00 and gave the stock a “buy” rating in a research report on Thursday, July 18th. Wells Fargo & Company boosted their target price on UnitedHealth Group from $525.00 to $630.00 and gave the company an “overweight” rating in a report on Wednesday, July 17th. Baird R W raised UnitedHealth Group to a “strong-buy” rating in a research report on Thursday, May 30th. Robert W. Baird lifted 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. Finally, JPMorgan Chase & Co. raised their price objective on shares of UnitedHealth Group from $546.00 to $559.00 and gave the stock an “overweight” rating in a research report on Thursday, May 30th. One analyst has rated the stock with a hold rating, nineteen have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of $614.17.

Insider Buying and Selling at UnitedHealth Group

In related news, EVP Erin Mcsweeney sold 1,500 shares of the company’s stock in a transaction that occurred on 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 transaction, the executive vice president now owns 7,785 shares of the company’s stock, valued at $4,507,748.55. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, EVP Erin Mcsweeney sold 1,500 shares of the stock in a transaction on Thursday, July 18th. The shares were sold at an average price of $579.03, for a total value 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 $4,507,748.55. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Thomas E. Roos sold 2,851 shares of the stock in a transaction on Wednesday, July 17th. The stock was sold at an average price of $569.88, for a total transaction of $1,624,727.88. Following the completion of the sale, the chief accounting officer now directly owns 29,501 shares of the company’s stock, valued at approximately $16,812,029.88. The disclosure for this sale can be found here. Insiders own 0.33% of the company’s stock.

UnitedHealth Group Stock Performance

Shares of UnitedHealth Group stock traded down $1.93 on Friday, reaching $577.68. 2,728,939 shares of the stock were exchanged, compared to its average volume of 4,224,914. The company has a current ratio of 0.88, a quick ratio of 0.85 and a debt-to-equity ratio of 0.67. The business has a fifty day moving average price of $529.38 and a two-hundred day moving average price of $507.45. UnitedHealth Group Incorporated has a 1-year low of $436.38 and a 1-year high of $591.54. The firm has a market capitalization of $533.44 billion, a PE ratio of 35.31, a PEG ratio of 1.61 and a beta of 0.59.

UnitedHealth Group (NYSE:UNH) last issued its earnings results on Tuesday, July 16th. The healthcare conglomerate reported $6.80 earnings per share for the quarter, topping the consensus estimate of $6.66 by $0.14. UnitedHealth Group had a net margin of 3.66% and a return on equity of 26.55%. The company had revenue of $98.86 billion for the quarter, compared to analyst estimates of $98.73 billion. During the same period in the prior year, the business posted $6.14 earnings per share. The firm’s revenue for the quarter was up 6.4% compared to the same quarter last year. As a group, research analysts anticipate that UnitedHealth Group Incorporated will post 27.69 earnings per share for the current fiscal year.

UnitedHealth Group Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 24th. Shareholders of record on Monday, September 16th will be issued a $2.10 dividend. This represents a $8.40 annualized dividend and a dividend yield of 1.45%. The ex-dividend date of this dividend is Monday, September 16th. UnitedHealth Group’s dividend payout ratio (DPR) is presently 51.34%.

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.