Suncoast Equity Management Reduces Position in UnitedHealth Group Incorporated (NYSE:UNH)

Suncoast Equity Management lowered its stake in UnitedHealth Group Incorporated (NYSE:UNH) by 10.2% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 58,876 shares of the healthcare conglomerate’s stock after selling 6,713 shares during the quarter. UnitedHealth Group comprises 3.9% of Suncoast Equity Management’s portfolio, making the stock its 13th biggest holding. Suncoast Equity Management’s holdings in UnitedHealth Group were worth $34,424,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently made changes to their positions in UNH. Kathleen S. Wright Associates Inc. bought a new position in shares of UnitedHealth Group in the third quarter worth about $27,000. Global Wealth Strategies & Associates boosted its stake in UnitedHealth Group by 152.4% in the 3rd quarter. Global Wealth Strategies & Associates now owns 53 shares of the healthcare conglomerate’s stock worth $31,000 after purchasing an additional 32 shares during the period. Macroview Investment Management LLC lifted its holdings in shares of UnitedHealth Group by 671.4% in the second quarter. Macroview Investment Management LLC now owns 54 shares of the healthcare conglomerate’s stock worth $28,000 after buying an additional 47 shares in the last quarter. West Financial Advisors LLC purchased a new position in UnitedHealth Group during the third quarter valued at $32,000. Finally, Delos Wealth Advisors LLC lifted its stake in UnitedHealth Group by 757.1% in the 1st quarter. Delos Wealth Advisors LLC now owns 60 shares of the healthcare conglomerate’s stock worth $30,000 after purchasing an additional 53 shares in the last quarter. 87.86% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

UNH has been the subject of several research analyst reports. Bank of America cut their price target on UnitedHealth Group from $675.00 to $650.00 and set a “buy” rating for the company in a report on Wednesday, October 16th. Barclays upped their price target on shares of UnitedHealth Group from $560.00 to $604.00 and gave the company an “overweight” rating in a research note on Wednesday, July 17th. Cantor Fitzgerald increased their price target on shares of UnitedHealth Group from $591.00 to $644.00 and gave the company an “overweight” rating in a report on Wednesday, October 16th. Robert W. Baird upped their price objective on UnitedHealth Group from $597.00 to $640.00 and gave the company an “outperform” rating in a research report on Wednesday, July 17th. Finally, Royal Bank of Canada cut their target price on UnitedHealth Group from $615.00 to $595.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 16th. Three investment analysts have rated the stock with a hold rating, eighteen have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $615.58.

UnitedHealth Group Stock Up 1.2 %

UnitedHealth Group stock traded up $6.72 during trading hours on Monday, reaching $576.33. The stock had a trading volume of 1,078,395 shares, compared to its average volume of 3,951,931. The business’s 50 day moving average price is $584.42 and its 200-day moving average price is $534.68. The company has a debt-to-equity ratio of 0.74, a current ratio of 0.91 and a quick ratio of 0.88. UnitedHealth Group Incorporated has a 52 week low of $436.38 and a 52 week high of $608.63. The company has a market cap of $532.19 billion, a price-to-earnings ratio of 37.11, a PEG ratio of 1.67 and a beta of 0.58.

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

UnitedHealth Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 24th. Stockholders of record on Monday, September 16th were paid a dividend of $2.10 per share. The ex-dividend date was Monday, September 16th. This represents a $8.40 annualized dividend and a dividend yield of 1.46%. UnitedHealth Group’s payout ratio is currently 54.72%.

UnitedHealth Group 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.