Summit Global Investments Sells 11,945 Shares of UnitedHealth Group Incorporated (NYSE:UNH)

Summit Global Investments cut its stake in UnitedHealth Group Incorporated (NYSE:UNH) by 69.8% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,175 shares of the healthcare conglomerate’s stock after selling 11,945 shares during the quarter. Summit Global Investments’ holdings in UnitedHealth Group were worth $3,026,000 as of its most recent SEC filing.

Other institutional investors also recently made changes to their positions in the company. Kathleen S. Wright Associates Inc. acquired a new stake in UnitedHealth Group during the third quarter worth approximately $27,000. Macroview Investment Management LLC boosted its holdings in shares of UnitedHealth Group by 671.4% during 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. Delos Wealth Advisors LLC grew its holdings in shares of UnitedHealth Group by 757.1% during the first quarter. Delos Wealth Advisors LLC now owns 60 shares of the healthcare conglomerate’s stock worth $30,000 after purchasing an additional 53 shares during the last quarter. Bbjs Financial Advisors LLC acquired a new stake in UnitedHealth Group during the 2nd quarter worth approximately $31,000. Finally, Global Wealth Strategies & Associates increased its position in UnitedHealth Group by 152.4% in the 3rd 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 during the period. Institutional investors own 87.86% of the company’s stock.

Analyst Ratings Changes

UNH has been the topic of several recent research reports. Barclays cut their target price on UnitedHealth Group from $604.00 to $603.00 and set an “overweight” rating on the stock in a report on Tuesday, October 22nd. Argus upped their price objective on shares of UnitedHealth Group from $570.00 to $600.00 and gave the company a “buy” rating in a research note on Wednesday, July 17th. TD Cowen lifted their price objective on UnitedHealth Group from $601.00 to $609.00 and gave the stock a “buy” rating in a research report on Friday, October 18th. Royal Bank of Canada reduced their price objective on UnitedHealth Group from $615.00 to $595.00 and set an “outperform” rating for the company in a research note on Wednesday, October 16th. Finally, KeyCorp began coverage on shares of UnitedHealth Group in a research report on Friday, October 11th. They issued an “overweight” rating and a $675.00 price target on the stock. Four equities research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $615.53.

UnitedHealth Group Trading Up 1.5 %

Shares of UNH stock opened at $605.45 on Friday. The firm has a market cap of $557.18 billion, a P/E ratio of 39.44, a price-to-earnings-growth ratio of 1.75 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 Incorporated has a 12-month low of $436.38 and a 12-month high of $608.63. The business has a 50-day moving average price of $581.13 and a two-hundred day moving average price of $543.74.

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

UnitedHealth Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 17th. Investors of record on Monday, December 9th will be paid a $2.10 dividend. This represents a $8.40 annualized dividend and a dividend yield of 1.39%. The ex-dividend date is Monday, December 9th. 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.