Legacy Bridge LLC Has $1.45 Million Position in UnitedHealth Group Incorporated (NYSE:UNH)

Legacy Bridge LLC trimmed its position in UnitedHealth Group Incorporated (NYSE:UNH) by 6.2% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,010 shares of the healthcare conglomerate’s stock after selling 200 shares during the quarter. Legacy Bridge LLC’s holdings in UnitedHealth Group were worth $1,447,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Chesapeake Wealth Management grew its holdings in UnitedHealth Group by 7.0% in the 4th quarter. Chesapeake Wealth Management now owns 4,992 shares of the healthcare conglomerate’s stock valued at $2,647,000 after buying an additional 326 shares in the last quarter. Westhampton Capital LLC lifted its position in shares of UnitedHealth Group by 1.2% during the 1st quarter. Westhampton Capital LLC now owns 2,587 shares of the healthcare conglomerate’s stock valued at $1,223,000 after acquiring an additional 30 shares during the period. Two Sigma Investments LP bought a new stake in shares of UnitedHealth Group during the 4th quarter valued at $87,114,000. Sendero Wealth Management LLC lifted its position in shares of UnitedHealth Group by 10.8% during the 1st quarter. Sendero Wealth Management LLC now owns 6,210 shares of the healthcare conglomerate’s stock valued at $2,935,000 after acquiring an additional 607 shares during the period. Finally, Alta Capital Management LLC lifted its position in shares of UnitedHealth Group by 335.1% during the 1st quarter. Alta Capital Management LLC now owns 62,712 shares of the healthcare conglomerate’s stock valued at $29,637,000 after acquiring an additional 48,300 shares during the period. 85.69% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts have recently weighed in on UNH shares. Stephens reiterated an “overweight” rating and set a $560.00 target price on shares of UnitedHealth Group in a research report on Friday, August 11th. Morgan Stanley restated an “overweight” rating and set a $587.00 price objective on shares of UnitedHealth Group in a research report on Friday, July 14th. UBS Group upped their price objective on UnitedHealth Group from $510.00 to $520.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 19th. Piper Sandler began coverage on UnitedHealth Group in a research report on Thursday, May 25th. They set an “overweight” rating and a $580.00 price objective for the company. Finally, Truist Financial dropped their price objective on UnitedHealth Group from $610.00 to $580.00 in a research report on Wednesday, June 14th. Two analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, UnitedHealth Group has an average rating of “Moderate Buy” and a consensus target price of $575.65.

Insiders Place Their Bets

In other UnitedHealth Group news, CEO Andrew Witty sold 4,000 shares of the firm’s stock in a transaction on Wednesday, July 19th. The stock was sold at an average price of $506.19, for a total value of $2,024,760.00. Following the completion of the sale, the chief executive officer now directly owns 78,573 shares of the company’s stock, valued at $39,772,866.87. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.35% of the company’s stock.

UnitedHealth Group Trading Down 0.1 %

Shares of UNH stock opened at $486.06 on Tuesday. UnitedHealth Group Incorporated has a 1-year low of $445.68 and a 1-year high of $558.10. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 0.68. The stock has a 50-day moving average of $492.05 and a 200-day moving average of $486.73. The stock has a market cap of $450.24 billion, a price-to-earnings ratio of 21.75, a PEG ratio of 1.43 and a beta of 0.66.

UnitedHealth Group (NYSE:UNH) last posted its earnings results on Friday, July 14th. The healthcare conglomerate reported $6.14 earnings per share for the quarter, beating analysts’ consensus estimates of $5.92 by $0.22. The company had revenue of $92.90 billion for the quarter, compared to analyst estimates of $90.97 billion. UnitedHealth Group had a return on equity of 26.72% and a net margin of 6.06%. The company’s revenue for the quarter was up 15.6% on a year-over-year basis. During the same quarter last year, the company earned $5.57 earnings per share. On average, equities research analysts forecast that UnitedHealth Group Incorporated will post 24.83 earnings per share for the current year.

UnitedHealth Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 19th. Shareholders of record on Monday, September 11th will be given a $1.88 dividend. 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 dividend payout ratio is currently 33.65%.

UnitedHealth Group Profile

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.