Tower Bridge Advisors Sells 170 Shares of UnitedHealth Group Incorporated (NYSE:UNH)

Tower Bridge Advisors decreased its holdings in shares of UnitedHealth Group Incorporated (NYSE:UNH) by 0.6% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 29,023 shares of the healthcare conglomerate’s stock after selling 170 shares during the period. UnitedHealth Group comprises 1.8% of Tower Bridge Advisors’ portfolio, making the stock its 11th biggest holding. Tower Bridge Advisors’ holdings in UnitedHealth Group were worth $16,969,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the stock. China Universal Asset Management Co. Ltd. increased its stake in shares of UnitedHealth Group by 20.6% in the 1st 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 increased its position in shares of UnitedHealth Group by 5.5% in the 1st quarter. Quent Capital LLC now owns 4,196 shares of the healthcare conglomerate’s stock valued at $2,076,000 after buying an additional 217 shares in the last quarter. Connors Investor Services Inc. acquired a new position in UnitedHealth Group in the first quarter valued at about $201,000. Edgestream Partners L.P. raised its position in shares of UnitedHealth Group by 314.3% during the first quarter. Edgestream Partners L.P. now owns 6,073 shares of the healthcare conglomerate’s stock worth $3,004,000 after purchasing an additional 4,607 shares during the period. Finally, Hillsdale Investment Management Inc. grew its position in shares of UnitedHealth Group by 8.0% in the 1st quarter. Hillsdale Investment Management Inc. now owns 2,923 shares of the healthcare conglomerate’s stock valued at $1,446,000 after purchasing an additional 216 shares during the period. 87.86% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages recently weighed in on UNH. StockNews.com raised shares of UnitedHealth Group from a “hold” rating to a “buy” rating in a research note on Tuesday, November 12th. Truist Financial restated 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. TD Cowen increased their price objective on shares of UnitedHealth Group from $601.00 to $609.00 and gave the stock a “buy” rating in a research note on Friday, October 18th. Bank of America dropped their target price on UnitedHealth Group from $675.00 to $650.00 and set a “buy” rating on the stock in a report on Wednesday, October 16th. Finally, UBS Group dropped their price objective on UnitedHealth Group from $680.00 to $650.00 and set a “buy” rating on the stock in a research note on Wednesday, October 16th. Three research analysts have rated the stock with a hold rating, eighteen have given a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $615.53.

UnitedHealth Group Stock Performance

NYSE:UNH opened at $592.23 on Friday. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 0.74. The stock has a market cap of $545.02 billion, a P/E ratio of 38.58, a PEG ratio of 1.74 and a beta of 0.58. The stock has a 50 day simple moving average of $582.84 and a 200 day simple moving average of $549.52. UnitedHealth Group Incorporated has a 1-year low of $436.38 and a 1-year high of $630.73.

UnitedHealth Group (NYSE:UNH) last released its quarterly earnings results on Tuesday, October 15th. The healthcare conglomerate reported $7.15 EPS for the quarter, topping 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 business had revenue of $100.82 billion for the quarter, compared to analyst estimates of $99.14 billion. During the same period last year, the firm earned $6.56 earnings per share. UnitedHealth Group’s revenue for the quarter was up 9.2% compared to the same quarter last year. Research analysts anticipate that UnitedHealth Group Incorporated will post 27.6 earnings per share for the current year.

UnitedHealth Group Dividend Announcement

The business also recently announced 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 1.42%. UnitedHealth Group’s payout ratio is 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.