DORCHESTER WEALTH MANAGEMENT Co Cuts Holdings in UnitedHealth Group Incorporated (NYSE:UNH)

DORCHESTER WEALTH MANAGEMENT Co reduced its position in UnitedHealth Group Incorporated (NYSE:UNH) by 6.2% in the 1st quarter, HoldingsChannel.com reports. The firm owned 7,791 shares of the healthcare conglomerate’s stock after selling 513 shares during the period. DORCHESTER WEALTH MANAGEMENT Co’s holdings in UnitedHealth Group were worth $3,854,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of UNH. Richelieu Gestion SA purchased a new position in UnitedHealth Group in the 4th quarter valued at approximately $26,000. CGC Financial Services LLC increased its position in UnitedHealth Group by 1,000.0% during the fourth quarter. CGC Financial Services LLC now owns 55 shares of the healthcare conglomerate’s stock worth $29,000 after buying an additional 50 shares in the last quarter. True Wealth Design LLC purchased a new position in UnitedHealth Group during the fourth quarter worth $31,000. LFA Lugano Financial Advisors SA increased its position in UnitedHealth Group by 148.1% during the fourth quarter. LFA Lugano Financial Advisors SA now owns 67 shares of the healthcare conglomerate’s stock worth $35,000 after buying an additional 40 shares in the last quarter. Finally, Red Tortoise LLC increased its position in UnitedHealth Group by 45.1% during the first quarter. Red Tortoise LLC now owns 74 shares of the healthcare conglomerate’s stock worth $36,000 after buying an additional 23 shares in the last quarter. 87.86% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts have weighed in on the company. Deutsche Bank Aktiengesellschaft raised their price target on UnitedHealth Group from $545.00 to $562.00 and gave the stock a “buy” rating in a research report on Friday, April 19th. Wells Fargo & Company decreased their price objective on UnitedHealth Group from $600.00 to $525.00 and set an “overweight” rating on the stock in a report on Monday, April 8th. Truist Financial restated a “buy” rating and set a $600.00 price objective on shares of UnitedHealth Group in a report on Wednesday, April 17th. Robert W. Baird initiated coverage on UnitedHealth Group in a report on Thursday, May 30th. They set an “outperform” rating and a $597.00 price objective on the stock. Finally, Erste Group Bank restated a “hold” rating on shares of UnitedHealth Group in a report on Wednesday, March 13th. Three analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, UnitedHealth Group presently has an average rating of “Moderate Buy” and an average price target of $579.74.

UnitedHealth Group Stock Down 0.4 %

Shares of NYSE UNH traded down $1.88 on Friday, hitting $488.01. The company had a trading volume of 3,498,996 shares, compared to its average volume of 4,448,744. The firm has a market capitalization of $449.16 billion, a P/E ratio of 29.83, a PEG ratio of 1.44 and a beta of 0.60. UnitedHealth Group Incorporated has a 12-month low of $436.38 and a 12-month high of $554.70. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.69. The business has a 50 day moving average of $498.46 and a two-hundred day moving average of $500.70.

UnitedHealth Group (NYSE:UNH) last issued its quarterly earnings results on Tuesday, April 16th. The healthcare conglomerate reported $6.91 EPS for the quarter, beating analysts’ consensus estimates of $6.63 by $0.28. The firm had revenue of $99.80 billion during the quarter, compared to the consensus estimate of $99.23 billion. UnitedHealth Group had a return on equity of 26.50% and a net margin of 4.05%. UnitedHealth Group’s revenue for the quarter was up 8.6% on a year-over-year basis. During the same quarter in the prior year, the business posted $6.26 earnings per share. As a group, equities research analysts forecast that UnitedHealth Group Incorporated will post 27.55 earnings per share for the current fiscal year.

UnitedHealth Group Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 25th. Shareholders of record on Monday, June 17th were paid a dividend of $2.10 per share. The ex-dividend date of this dividend was Monday, June 17th. This represents a $8.40 annualized dividend and a yield of 1.72%. This is a boost from UnitedHealth Group’s previous quarterly dividend of $1.88. UnitedHealth Group’s dividend payout ratio is presently 51.34%.

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.