Legacy Wealth Management Inc Lowers Position in UnitedHealth Group Incorporated (NYSE:UNH)

Legacy Wealth Management Inc decreased its position in UnitedHealth Group Incorporated (NYSE:UNH) by 9.6% in the fourth quarter, Holdings Channel reports. The institutional investor owned 497 shares of the healthcare conglomerate’s stock after selling 53 shares during the period. Legacy Wealth Management Inc’s holdings in UnitedHealth Group were worth $251,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently modified their holdings of UNH. Kathleen S. Wright Associates Inc. acquired a new position in UnitedHealth Group during the third quarter worth $27,000. Global Wealth Strategies & Associates lifted its position in shares of 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 in the last quarter. West Financial Advisors LLC acquired a new position in UnitedHealth Group in the 3rd quarter valued at $32,000. RPg Family Wealth Advisory LLC purchased a new position in shares of UnitedHealth Group in the third quarter worth about $37,000. Finally, Quarry LP raised its holdings in UnitedHealth Group by 132.1% in the 2nd quarter. Quarry LP now owns 65 shares of the healthcare conglomerate’s stock valued at $33,000 after acquiring an additional 37 shares during the last quarter. 87.86% of the stock is currently owned by institutional investors and hedge funds.

UnitedHealth Group Stock Up 0.5 %

Shares of NYSE UNH opened at $532.26 on Friday. The business has a 50-day moving average of $541.04 and a two-hundred day moving average of $563.84. The company has a market capitalization of $489.83 billion, a price-to-earnings ratio of 34.34, a price-to-earnings-growth ratio of 1.41 and a beta of 0.62. UnitedHealth Group Incorporated has a 1 year low of $436.38 and a 1 year high of $630.73. The company has a debt-to-equity ratio of 0.74, a current ratio of 0.83 and a quick ratio of 0.91.

UnitedHealth Group (NYSE:UNH) last issued its earnings results on Thursday, January 16th. The healthcare conglomerate reported $6.81 earnings per share (EPS) for the quarter, beating the consensus estimate of $6.74 by $0.07. UnitedHealth Group had a net margin of 3.60% and a return on equity of 26.69%. The business had revenue of $100.81 billion during the quarter, compared to analysts’ expectations of $101.60 billion. During the same quarter in the prior year, the business posted $5.83 EPS. The company’s revenue for the quarter was up 6.8% on a year-over-year basis. On average, analysts forecast that UnitedHealth Group Incorporated will post 29.74 earnings per share for the current fiscal year.

UnitedHealth Group Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 17th. Shareholders of record on Monday, December 9th were paid a $2.10 dividend. This represents a $8.40 dividend on an annualized basis and a yield of 1.58%. The ex-dividend date was Monday, December 9th. UnitedHealth Group’s dividend payout ratio is currently 54.19%.

Analyst Ratings Changes

A number of equities analysts have weighed in on the company. Barclays lowered their price objective on UnitedHealth Group from $655.00 to $642.00 and set an “overweight” rating on the stock in a research note on Friday, January 17th. Piper Sandler reduced their target price on shares of UnitedHealth Group from $605.00 to $600.00 and set an “overweight” rating on the stock in a research note on Thursday, January 2nd. Cantor Fitzgerald reiterated an “overweight” rating and issued a $700.00 price objective on shares of UnitedHealth Group in a report on Friday, January 17th. Oppenheimer raised their price objective on UnitedHealth Group from $610.00 to $640.00 and gave the stock an “outperform” rating in a research report on Friday, December 6th. Finally, Hsbc Global Res upgraded shares of UnitedHealth Group from a “hold” rating to a “strong-buy” rating in a report on Friday, January 10th. One analyst has rated the stock with a hold rating, twenty have issued a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus price target of $627.74.

Insider Activity

In related news, Director Timothy Patrick Flynn acquired 1,000 shares of the firm’s stock in a transaction on Friday, January 17th. The stock was bought at an average cost of $511.57 per share, with a total value of $511,570.00. Following the transaction, the director now owns 4,500 shares of the company’s stock, valued at $2,302,065. The trade was a 28.57 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 0.33% of the company’s stock.

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.