Fortis Group Advisors LLC Cuts Stake in UnitedHealth Group Incorporated (NYSE:UNH)

Fortis Group Advisors LLC lessened its holdings in UnitedHealth Group Incorporated (NYSE:UNH) by 1.4% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 5,985 shares of the healthcare conglomerate’s stock after selling 88 shares during the quarter. Fortis Group Advisors LLC’s holdings in UnitedHealth Group were worth $3,499,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Kathleen S. Wright Associates Inc. purchased a new position in shares of UnitedHealth Group in the third quarter worth $27,000. Global Wealth Strategies & Associates increased its holdings in shares of UnitedHealth Group by 152.4% during the third quarter. Global Wealth Strategies & Associates now owns 53 shares of the healthcare conglomerate’s stock valued at $31,000 after acquiring an additional 32 shares in the last quarter. Macroview Investment Management LLC lifted its position in UnitedHealth Group by 671.4% in the 2nd quarter. Macroview Investment Management LLC now owns 54 shares of the healthcare conglomerate’s stock valued at $28,000 after acquiring an additional 47 shares in the last quarter. West Financial Advisors LLC purchased a new stake in shares of UnitedHealth Group during the 3rd quarter valued at about $32,000. Finally, Delos Wealth Advisors LLC boosted its holdings in shares of UnitedHealth Group by 757.1% in the first quarter. Delos Wealth Advisors LLC now owns 60 shares of the healthcare conglomerate’s stock worth $30,000 after buying an additional 53 shares during the last quarter. 87.86% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

UNH has been the topic of several analyst reports. Truist Financial reaffirmed a “buy” rating and set a $625.00 price target (down previously from $640.00) on shares of UnitedHealth Group in a report on Wednesday, October 16th. Jefferies Financial Group raised shares of 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 report on Wednesday, July 17th. StockNews.com upgraded UnitedHealth Group from a “hold” rating to a “buy” rating in a research report on Wednesday, October 16th. Cantor Fitzgerald upped their price objective on UnitedHealth Group from $591.00 to $644.00 and gave the stock an “overweight” rating in a report on Wednesday, October 16th. Finally, Hsbc Global Res downgraded shares of UnitedHealth Group from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 17th. Three investment analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $615.58.

UnitedHealth Group Stock Down 0.8 %

Shares of NYSE UNH traded down $4.70 during midday trading on Tuesday, reaching $566.77. 407,877 shares of the company’s stock traded hands, compared to its average volume of 3,944,395. UnitedHealth Group Incorporated has a one year low of $436.38 and a one year high of $608.63. The stock’s 50 day simple moving average is $584.55 and its 200-day simple moving average is $535.49. The company has a market cap of $523.37 billion, a price-to-earnings ratio of 37.23, a P/E/G ratio of 1.67 and a beta of 0.58. The company has a quick ratio of 0.88, a current ratio of 0.91 and a debt-to-equity ratio of 0.74.

UnitedHealth Group (NYSE:UNH) last announced its earnings results on Tuesday, October 15th. The healthcare conglomerate reported $7.15 EPS for the quarter, topping analysts’ consensus estimates of $7.00 by $0.15. The business had revenue of $100.82 billion during the quarter, compared to the consensus estimate of $99.14 billion. UnitedHealth Group had a net margin of 3.63% and a return on equity of 26.37%. The firm’s revenue was up 9.2% on a year-over-year basis. During the same period in the previous year, the company posted $6.56 earnings per share. On average, analysts predict that UnitedHealth Group Incorporated will post 27.61 EPS for the current fiscal year.

UnitedHealth Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 24th. Stockholders of record on Monday, September 16th were paid a $2.10 dividend. This represents a $8.40 annualized dividend and a dividend yield of 1.48%. The ex-dividend date of this dividend was Monday, September 16th. UnitedHealth Group’s payout ratio is 54.72%.

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.