King Wealth Management Group Buys 54 Shares of UnitedHealth Group Incorporated (NYSE:UNH)

King Wealth Management Group boosted its position in UnitedHealth Group Incorporated (NYSE:UNH) by 0.2% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 29,282 shares of the healthcare conglomerate’s stock after acquiring an additional 54 shares during the period. UnitedHealth Group accounts for about 2.7% of King Wealth Management Group’s holdings, making the stock its 11th biggest position. King Wealth Management Group’s holdings in UnitedHealth Group were worth $17,120,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the company. China Universal Asset Management Co. Ltd. boosted its stake in UnitedHealth Group by 20.6% in the first quarter. China Universal Asset Management Co. Ltd. now owns 10,867 shares of the healthcare conglomerate’s stock valued at $5,376,000 after acquiring an additional 1,857 shares during the last quarter. Quent Capital LLC grew its holdings in UnitedHealth Group by 5.5% during the first quarter. Quent Capital LLC now owns 4,196 shares of the healthcare conglomerate’s stock valued at $2,076,000 after purchasing an additional 217 shares during the period. 1ST Source Bank lifted its position in shares of UnitedHealth Group by 1.8% during the 1st quarter. 1ST Source Bank now owns 1,681 shares of the healthcare conglomerate’s stock valued at $832,000 after buying an additional 30 shares during the last quarter. M&G Plc bought a new stake in UnitedHealth Group in the 1st quarter valued at about $239,713,000. Finally, Mizuho Markets Cayman LP purchased a new position in shares of UnitedHealth Group in the first quarter worth about $343,000. 87.86% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the stock. Truist Financial reissued a “buy” rating and set a $625.00 target price (down previously from $640.00) on shares of UnitedHealth Group in a report on Wednesday, October 16th. Royal Bank of Canada reduced their target price on UnitedHealth Group from $615.00 to $595.00 and set an “outperform” rating for the company in a report on Wednesday, October 16th. HSBC downgraded shares of UnitedHealth Group from a “buy” rating to a “hold” rating in a report on Thursday, October 17th. TD Cowen lifted their price target on UnitedHealth Group from $601.00 to $609.00 and gave the company a “buy” rating in a research report on Friday, October 18th. Finally, Bank of America cut their price target on shares of UnitedHealth Group from $675.00 to $650.00 and set a “buy” rating for the company in a research note on Wednesday, October 16th. Three investment analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $615.53.

UnitedHealth Group Price Performance

Shares of NYSE:UNH opened at $593.30 on Friday. 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 debt-to-equity ratio of 0.74, a quick ratio of 0.91 and a current ratio of 0.91. The business has a 50-day simple moving average of $582.99 and a two-hundred day simple moving average of $548.03. The firm has a market cap of $546.00 billion, a price-to-earnings ratio of 38.65, a price-to-earnings-growth ratio of 1.78 and a beta of 0.58.

UnitedHealth Group (NYSE:UNH) last posted 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 return on equity of 26.37% and a net margin of 3.63%. The company had revenue of $100.82 billion during the quarter, compared to analysts’ expectations of $99.14 billion. During the same quarter in the prior year, the business earned $6.56 earnings per share. UnitedHealth Group’s revenue for the quarter was up 9.2% compared to the same quarter last year. On average, analysts expect 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. Shareholders of record on Monday, December 9th will be issued a dividend of $2.10 per share. This represents a $8.40 annualized dividend and a yield of 1.42%. The ex-dividend date is Monday, December 9th. UnitedHealth Group’s dividend payout ratio is presently 54.72%.

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.