Ledge Wealth Management Inc. Reduces Stake in UnitedHealth Group Incorporated (NYSE:UNH)

Ledge Wealth Management Inc. lessened its holdings in shares of UnitedHealth Group Incorporated (NYSE:UNH) by 18.1% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,955 shares of the healthcare conglomerate’s stock after selling 877 shares during the period. Ledge Wealth Management Inc.’s holdings in UnitedHealth Group were worth $1,901,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in the business. Apeiron RIA LLC boosted its position in shares of UnitedHealth Group by 0.8% during the 1st quarter. Apeiron RIA LLC now owns 2,581 shares of the healthcare conglomerate’s stock worth $1,222,000 after acquiring an additional 20 shares in the last quarter. Signet Financial Management LLC grew its stake in shares of UnitedHealth Group by 2.2% in the first quarter. Signet Financial Management LLC now owns 964 shares of the healthcare conglomerate’s stock worth $491,000 after purchasing an additional 21 shares during the last quarter. Financial Partners Group Inc grew its position in shares of UnitedHealth Group by 4.3% in the 4th quarter. Financial Partners Group Inc now owns 509 shares of the healthcare conglomerate’s stock valued at $252,000 after buying an additional 21 shares during the last quarter. Platform Technology Partners boosted its stake in shares of UnitedHealth Group by 0.7% in the 1st quarter. Platform Technology Partners now owns 3,251 shares of the healthcare conglomerate’s stock valued at $1,536,000 after purchasing an additional 21 shares during the last quarter. Finally, Carmichael Hill & Associates Inc. grew its holdings in UnitedHealth Group by 11.4% during the 1st quarter. Carmichael Hill & Associates Inc. now owns 206 shares of the healthcare conglomerate’s stock worth $97,000 after acquiring an additional 21 shares during the period. 85.69% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, CEO Andrew Witty sold 4,000 shares of the firm’s stock in a transaction dated Wednesday, July 19th. The stock was sold at an average price of $506.19, for a total transaction of $2,024,760.00. Following the transaction, the chief executive officer now directly owns 78,573 shares of the company’s stock, valued at $39,772,866.87. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 0.35% of the stock is owned by corporate insiders.

UnitedHealth Group Trading Down 0.1 %

UnitedHealth Group stock opened at $486.06 on Tuesday. UnitedHealth Group Incorporated has a fifty-two week low of $445.68 and a fifty-two week high of $558.10. The firm’s fifty day moving average price is $492.05 and its 200-day moving average price is $486.73. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.80 and a current ratio of 0.80. The stock has a market cap of $450.24 billion, a P/E ratio of 21.75, a PEG ratio of 1.43 and a beta of 0.66.

UnitedHealth Group (NYSE:UNH) last posted its quarterly earnings data on Friday, July 14th. The healthcare conglomerate reported $6.14 earnings per share for the quarter, topping the consensus estimate of $5.92 by $0.22. The company had revenue of $92.90 billion for the quarter, compared to analysts’ expectations of $90.97 billion. UnitedHealth Group had a net margin of 6.06% and a return on equity of 26.72%. UnitedHealth Group’s revenue for the quarter was up 15.6% compared to the same quarter last year. During the same period in the prior year, the business earned $5.57 earnings per share. Equities research analysts forecast that UnitedHealth Group Incorporated will post 24.83 earnings per share for the current fiscal year.

UnitedHealth Group Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 19th. Shareholders of record on Monday, September 11th will be given a dividend of $1.88 per share. This represents a $7.52 dividend on an annualized basis and a yield of 1.55%. The ex-dividend date is Friday, September 8th. UnitedHealth Group’s payout ratio is currently 33.65%.

Analyst Ratings Changes

Several analysts have recently weighed in on the stock. SVB Securities lowered their price objective on shares of UnitedHealth Group from $625.00 to $560.00 in a research note on Wednesday, June 14th. Mizuho dropped their price target on shares of UnitedHealth Group from $600.00 to $549.00 in a research report on Tuesday, July 11th. Wells Fargo & Company reduced their price objective on shares of UnitedHealth Group from $616.00 to $561.00 in a research report on Thursday, July 13th. JPMorgan Chase & Co. lifted their price target on UnitedHealth Group from $527.00 to $532.00 and gave the stock an “overweight” rating in a report on Monday, July 17th. Finally, UBS Group boosted their price target on shares of UnitedHealth Group from $510.00 to $520.00 and gave the stock a “neutral” rating in a report on Wednesday, July 19th. Two research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, UnitedHealth Group currently has a consensus rating of “Moderate Buy” and an average price target of $575.65.

About UnitedHealth Group

UnitedHealth Group Incorporated operates as a diversified health care company in the United States. It 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.