Huntington National Bank Cuts Stock Holdings in UnitedHealth Group Incorporated (NYSE:UNH)

Huntington National Bank reduced its position in shares of UnitedHealth Group Incorporated (NYSE:UNH) by 5.7% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 128,434 shares of the healthcare conglomerate’s stock after selling 7,721 shares during the period. Huntington National Bank’s holdings in UnitedHealth Group were worth $75,092,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Kathleen S. Wright Associates Inc. purchased a new stake in shares of UnitedHealth Group in the third quarter valued at approximately $27,000. Macroview Investment Management LLC grew its position 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 valued at $28,000 after purchasing an additional 47 shares in the last quarter. Delos Wealth Advisors LLC grew its position in shares of UnitedHealth Group by 757.1% in the first quarter. Delos Wealth Advisors LLC now owns 60 shares of the healthcare conglomerate’s stock valued at $30,000 after purchasing an additional 53 shares in the last quarter. Bbjs Financial Advisors LLC acquired a new position in UnitedHealth Group in the second quarter valued at approximately $31,000. Finally, Global Wealth Strategies & Associates lifted its holdings in UnitedHealth Group by 152.4% in the third quarter. Global Wealth Strategies & Associates now owns 53 shares of the healthcare conglomerate’s stock valued at $31,000 after acquiring an additional 32 shares during the last quarter. 87.86% of the stock is currently owned by hedge funds and other institutional investors.

UnitedHealth Group Price Performance

Shares of UNH opened at $605.88 on Thursday. UnitedHealth Group Incorporated has a fifty-two week low of $436.38 and a fifty-two week high of $630.73. The company has a market capitalization of $557.58 billion, a price-to-earnings ratio of 39.47, a price-to-earnings-growth ratio of 1.80 and a beta of 0.58. The firm has a 50-day simple moving average of $582.95 and a 200-day simple moving average of $547.62. The company has a debt-to-equity ratio of 0.74, a quick ratio of 0.91 and a current ratio of 0.91.

UnitedHealth Group (NYSE:UNH) last announced 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. The firm had revenue of $100.82 billion during the quarter, compared to the consensus estimate of $99.14 billion. UnitedHealth Group had a net margin of 3.63% and a return on equity of 26.37%. The firm’s revenue was up 9.2% compared to the same quarter last year. During the same quarter last year, the firm earned $6.56 earnings per share. On average, equities research analysts anticipate that UnitedHealth Group Incorporated will post 27.61 earnings per share for the current year.

UnitedHealth Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 17th. Stockholders of record on Monday, December 9th will be given a dividend of $2.10 per share. The ex-dividend date is Monday, December 9th. This represents a $8.40 dividend on an annualized basis and a dividend yield of 1.39%. UnitedHealth Group’s payout ratio is 54.72%.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the company. Stephens decreased their price objective on UnitedHealth Group from $632.00 to $605.00 and set an “overweight” rating on the stock in a report on Wednesday, October 16th. Wells Fargo & Company upped their price target on UnitedHealth Group from $525.00 to $630.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 17th. Hsbc Global Res cut UnitedHealth Group from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 17th. Bank of America cut their price objective on UnitedHealth Group from $675.00 to $650.00 and set a “buy” rating on the stock in a research report on Wednesday, October 16th. Finally, Truist Financial reaffirmed a “buy” rating and set a $625.00 price objective (down previously from $640.00) on shares of UnitedHealth Group in a research report on Wednesday, October 16th. Three analysts have rated the stock with a hold rating, eighteen have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $615.53.

UnitedHealth Group Company 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.