Abound Wealth Management Decreases Stock Holdings in UnitedHealth Group Incorporated (NYSE:UNH)

Abound Wealth Management cut its holdings in shares of UnitedHealth Group Incorporated (NYSE:UNH) by 12.5% in the 2nd quarter, HoldingsChannel reports. The firm owned 265 shares of the healthcare conglomerate’s stock after selling 38 shares during the quarter. Abound Wealth Management’s holdings in UnitedHealth Group were worth $135,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Signature Resources Capital Management LLC lifted its position in shares of UnitedHealth Group by 40.0% during the 2nd quarter. Signature Resources Capital Management LLC now owns 63 shares of the healthcare conglomerate’s stock valued at $32,000 after buying an additional 18 shares during the last quarter. Saxony Capital Management LLC boosted its position in UnitedHealth Group by 3.5% during the second quarter. Saxony Capital Management LLC now owns 530 shares of the healthcare conglomerate’s stock worth $270,000 after purchasing an additional 18 shares during the period. GoalVest Advisory LLC raised its position in shares of UnitedHealth Group by 0.6% in the second quarter. GoalVest Advisory LLC now owns 3,124 shares of the healthcare conglomerate’s stock valued at $1,591,000 after purchasing an additional 18 shares during the period. Fiduciary Group LLC boosted its holdings in UnitedHealth Group by 0.5% in the 2nd quarter. Fiduciary Group LLC now owns 3,695 shares of the healthcare conglomerate’s stock worth $1,882,000 after buying an additional 18 shares during the period. Finally, Continuum Advisory LLC raised its holdings in UnitedHealth Group by 0.6% during the 2nd quarter. Continuum Advisory LLC now owns 3,410 shares of the healthcare conglomerate’s stock valued at $1,737,000 after acquiring an additional 19 shares during the period. 87.86% of the stock is owned by hedge funds and other institutional investors.

UnitedHealth Group Stock Performance

UnitedHealth Group stock opened at $594.32 on Monday. The firm has a fifty day simple moving average of $569.08 and a two-hundred day simple moving average of $517.70. UnitedHealth Group Incorporated has a twelve month low of $436.38 and a twelve month high of $607.94. The company has a market capitalization of $548.81 billion, a PE ratio of 36.33, a P/E/G ratio of 1.64 and a beta of 0.58. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 0.67.

UnitedHealth Group (NYSE:UNH) last posted its quarterly 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 return on equity of 26.55% and a net margin of 3.66%. UnitedHealth Group’s revenue for the quarter was up 6.4% compared to the same quarter last year. During the same period last year, the company earned $6.14 EPS. Research analysts expect that UnitedHealth Group Incorporated will post 27.69 EPS for the current year.

UnitedHealth Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 24th. Shareholders of record on Monday, September 16th will be given a $2.10 dividend. This represents a $8.40 dividend on an annualized basis and a dividend yield of 1.41%. The ex-dividend date is Monday, September 16th. UnitedHealth Group’s payout ratio is 51.34%.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the company. Truist Financial lifted their price target on UnitedHealth Group from $600.00 to $640.00 and gave the company a “buy” rating in a research report on Wednesday, July 17th. Wells Fargo & Company increased their price target on shares of UnitedHealth Group from $525.00 to $630.00 and gave the stock an “overweight” rating in a report on Wednesday, July 17th. JPMorgan Chase & Co. upped their target price on shares of UnitedHealth Group from $546.00 to $559.00 and gave the stock an “overweight” rating in a report on Thursday, May 30th. Baird R W upgraded shares of UnitedHealth Group to a “strong-buy” rating in a research report on Thursday, May 30th. Finally, HSBC lifted their price objective on UnitedHealth Group from $580.00 to $610.00 in a research note on Thursday, July 18th. Two research analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $614.17.

Insider Buying and Selling

In other news, EVP Erin Mcsweeney sold 1,500 shares of UnitedHealth Group 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 sale, the executive vice president now directly owns 7,785 shares in the company, valued at approximately $4,507,748.55. The sale was disclosed in a filing with the SEC, which is available through this link. In other news, EVP Erin Mcsweeney sold 1,500 shares of UnitedHealth Group 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 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 legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Thomas E. Roos sold 2,851 shares of the firm’s stock in a transaction dated 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 owns 29,501 shares of the company’s stock, valued at $16,812,029.88. The disclosure for this sale can be found here. 0.33% of the stock is owned by insiders.

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.