Chemung Canal Trust Co. Purchases 4,086 Shares of UnitedHealth Group Incorporated (NYSE:UNH)

Chemung Canal Trust Co. raised its holdings in shares of UnitedHealth Group Incorporated (NYSE:UNH) by 78.9% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 9,266 shares of the healthcare conglomerate’s stock after acquiring an additional 4,086 shares during the quarter. Chemung Canal Trust Co.’s holdings in UnitedHealth Group were worth $4,687,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. M&T Bank Corp grew its stake in UnitedHealth Group by 13.4% in the third quarter. M&T Bank Corp now owns 220,590 shares of the healthcare conglomerate’s stock valued at $128,975,000 after purchasing an additional 26,074 shares in the last quarter. Sugarloaf Wealth Management LLC raised its position in UnitedHealth Group by 17.6% during the fourth quarter. Sugarloaf Wealth Management LLC now owns 7,957 shares of the healthcare conglomerate’s stock worth $4,025,000 after acquiring an additional 1,193 shares in the last quarter. Benjamin Edwards Inc. grew its position in shares of UnitedHealth Group by 1,275.3% in the 3rd quarter. Benjamin Edwards Inc. now owns 44,547 shares of the healthcare conglomerate’s stock valued at $26,060,000 after acquiring an additional 41,308 shares during the period. Parsifal Capital Management LP bought a new stake in shares of UnitedHealth Group in the 3rd quarter valued at about $21,165,000. Finally, Signal Advisors Wealth LLC increased its position in UnitedHealth Group by 13.0% during the fourth quarter. Signal Advisors Wealth LLC now owns 9,115 shares of the healthcare conglomerate’s stock worth $4,611,000 after buying an additional 1,051 shares during the last quarter. Institutional investors own 87.86% of the company’s stock.

UnitedHealth Group Trading Up 0.5 %

Shares of UNH stock opened at $532.26 on Friday. The company has a debt-to-equity ratio of 0.74, a quick ratio of 0.91 and a current ratio of 0.83. UnitedHealth Group Incorporated has a fifty-two week low of $436.38 and a fifty-two week high of $630.73. The company has a market cap of $489.83 billion, a PE ratio of 34.34, a P/E/G ratio of 1.41 and a beta of 0.62. The stock’s fifty day moving average price is $542.24 and its two-hundred day moving average price is $563.54.

UnitedHealth Group (NYSE:UNH) last posted its earnings results on Thursday, January 16th. The healthcare conglomerate reported $6.81 EPS for the quarter, topping analysts’ consensus estimates of $6.74 by $0.07. The firm had revenue of $100.81 billion during the quarter, compared to analysts’ expectations of $101.60 billion. UnitedHealth Group had a net margin of 3.60% and a return on equity of 26.69%. The business’s revenue for the quarter was up 6.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $5.83 earnings per share. Equities analysts predict that UnitedHealth Group Incorporated will post 29.74 EPS for the current fiscal year.

UnitedHealth Group Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, December 17th. Shareholders of record on Monday, December 9th were issued a $2.10 dividend. The ex-dividend date of this dividend was Monday, December 9th. This represents a $8.40 dividend on an annualized basis and a yield of 1.58%. UnitedHealth Group’s payout ratio is presently 54.19%.

Insider Transactions at UnitedHealth Group

In related news, Director Timothy Patrick Flynn purchased 1,000 shares of UnitedHealth Group stock in a transaction on Friday, January 17th. The shares were purchased at an average price of $511.57 per share, for a total transaction of $511,570.00. Following the transaction, the director now owns 4,500 shares of the company’s stock, valued at approximately $2,302,065. This represents a 28.57 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this hyperlink. Company insiders own 0.33% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently commented on the company. Morgan Stanley reduced their target price on UnitedHealth Group from $615.00 to $610.00 and set an “overweight” rating for the company in a research note on Wednesday, October 16th. Oppenheimer increased their price objective on shares of UnitedHealth Group from $610.00 to $640.00 and gave the company an “outperform” rating in a research report on Friday, December 6th. Stephens upped their price target on shares of UnitedHealth Group from $605.00 to $675.00 and gave the company an “overweight” rating in a research note on Thursday, December 5th. Piper Sandler reduced their price objective on UnitedHealth Group from $605.00 to $600.00 and set an “overweight” rating for the company in a report on Thursday, January 2nd. Finally, Deutsche Bank Aktiengesellschaft lifted their price target on UnitedHealth Group from $595.00 to $625.00 and gave the stock a “buy” rating in a report on Tuesday, December 3rd. One equities research analyst has rated the stock with a hold rating, twenty have issued a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus target price of $627.74.

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.