Montecito Bank & Trust Boosts Stock Position in UnitedHealth Group Incorporated (NYSE:UNH)

Montecito Bank & Trust lifted its stake in UnitedHealth Group Incorporated (NYSE:UNH) by 30.8% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 3,041 shares of the healthcare conglomerate’s stock after purchasing an additional 716 shares during the period. Montecito Bank & Trust’s holdings in UnitedHealth Group were worth $1,778,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in UNH. Kathleen S. Wright Associates Inc. purchased a new position in UnitedHealth Group during the 3rd quarter valued at about $27,000. Macroview Investment Management LLC boosted its holdings in shares of UnitedHealth Group by 671.4% in the 2nd quarter. Macroview Investment Management LLC now owns 54 shares of the healthcare conglomerate’s stock valued at $28,000 after acquiring an additional 47 shares during the last quarter. Delos Wealth Advisors LLC raised its position in UnitedHealth Group by 757.1% during the first quarter. Delos Wealth Advisors LLC now owns 60 shares of the healthcare conglomerate’s stock valued at $30,000 after acquiring an additional 53 shares in the last quarter. Bbjs Financial Advisors LLC purchased a new stake in shares of UnitedHealth Group during the 2nd quarter worth about $31,000. Finally, Global Wealth Strategies & Associates increased its holdings 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 acquiring an additional 32 shares in the last quarter. 87.86% of the stock is owned by hedge funds and other institutional investors.

UnitedHealth Group Price Performance

UNH stock opened at $596.69 on Thursday. The firm has a 50 day moving average of $581.13 and a 200-day moving average of $543.74. The company has a current ratio of 0.91, a quick ratio of 0.88 and a debt-to-equity ratio of 0.74. The company has a market cap of $551.00 billion, a price-to-earnings ratio of 38.87, a PEG ratio of 1.64 and a beta of 0.58. UnitedHealth Group Incorporated has a 12-month low of $436.38 and a 12-month high of $608.63.

UnitedHealth Group (NYSE:UNH) last issued its quarterly earnings data on Tuesday, October 15th. The healthcare conglomerate reported $7.15 EPS for the quarter, beating analysts’ consensus estimates of $7.00 by $0.15. UnitedHealth Group had a net margin of 3.63% and a return on equity of 26.37%. The firm had revenue of $100.82 billion for the quarter, compared to analysts’ expectations of $99.14 billion. During the same period in the prior year, the company earned $6.56 EPS. The firm’s revenue was up 9.2% on a year-over-year basis. As a group, equities analysts expect that UnitedHealth Group Incorporated will post 27.61 EPS for the current fiscal year.

UnitedHealth Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 17th. Investors of record on Monday, December 9th will be paid a dividend of $2.10 per share. This represents a $8.40 dividend on an annualized basis and a dividend yield of 1.41%. The ex-dividend date of this dividend is Monday, December 9th. UnitedHealth Group’s payout ratio is currently 54.72%.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on UNH shares. Truist Financial restated a “buy” rating and set a $625.00 price target (down from $640.00) on shares of UnitedHealth Group in a research report on Wednesday, October 16th. HSBC cut UnitedHealth Group from a “buy” rating to a “hold” rating in a research note on Thursday, October 17th. Stephens reduced their price objective on UnitedHealth Group from $632.00 to $605.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 16th. Barclays dropped their target price on UnitedHealth Group from $604.00 to $603.00 and set an “overweight” rating on the stock in a report on Tuesday, October 22nd. Finally, Wells Fargo & Company boosted their price target on shares of UnitedHealth Group from $525.00 to $630.00 and gave the company an “overweight” rating in a research report on Wednesday, July 17th. Four investment analysts have rated the stock with a hold rating, seventeen have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, UnitedHealth Group currently has a consensus rating of “Moderate Buy” and an average price target of $615.53.

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.