Summit Wealth Partners LLC Raises Holdings in UnitedHealth Group Incorporated (NYSE:UNH)

Summit Wealth Partners LLC raised its holdings in shares of UnitedHealth Group Incorporated (NYSE:UNH) by 14.2% during the 4th quarter, HoldingsChannel.com reports. The firm owned 1,684 shares of the healthcare conglomerate’s stock after acquiring an additional 209 shares during the quarter. Summit Wealth Partners LLC’s holdings in UnitedHealth Group were worth $852,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the business. Kathleen S. Wright Associates Inc. bought a new position in UnitedHealth Group in the 3rd quarter worth $27,000. AlphaMark Advisors LLC purchased a new stake in UnitedHealth Group in the 4th quarter worth $30,000. West Financial Advisors LLC purchased a new stake in UnitedHealth Group in the 3rd quarter worth $32,000. RPg Family Wealth Advisory LLC purchased a new stake in UnitedHealth Group in the 3rd quarter worth $37,000. Finally, Friedenthal Financial purchased a new stake in UnitedHealth Group in the 3rd quarter worth $51,000. 87.86% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

UNH has been the subject of a number of analyst reports. TD Cowen increased their price target on UnitedHealth Group from $601.00 to $609.00 and gave the stock a “buy” rating in a research note on Friday, October 18th. Wells Fargo & Company cut their price objective on UnitedHealth Group from $694.00 to $660.00 and set an “overweight” rating for the company in a research report on Tuesday, January 28th. StockNews.com upgraded UnitedHealth Group from a “hold” rating to a “buy” rating in a research report on Thursday, January 23rd. Cantor Fitzgerald restated an “overweight” rating and set a $700.00 price objective on shares of UnitedHealth Group in a research report on Friday, January 17th. Finally, Hsbc Global Res upgraded UnitedHealth Group from a “hold” rating to a “strong-buy” rating in a research report on Friday, January 10th. One research analyst has rated the stock with a hold rating, twenty have assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, UnitedHealth Group presently has an average rating of “Buy” and an average target price of $629.32.

Insider Activity at UnitedHealth Group

In other news, Director Timothy Patrick Flynn acquired 1,000 shares of the firm’s stock in a transaction on Friday, January 17th. The stock was acquired at an average price of $511.57 per share, for a total transaction of $511,570.00. Following the completion of the transaction, the director now owns 4,500 shares in the company, valued at approximately $2,302,065. The trade was a 28.57 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.33% of the stock is currently owned by insiders.

UnitedHealth Group Stock Performance

Shares of NYSE:UNH opened at $539.50 on Thursday. The company has a market capitalization of $496.49 billion, a price-to-earnings ratio of 34.81, a price-to-earnings-growth ratio of 1.48 and a beta of 0.61. UnitedHealth Group Incorporated has a 52 week low of $436.38 and a 52 week high of $630.73. The company has a quick ratio of 0.91, a current ratio of 0.83 and a debt-to-equity ratio of 0.74. The firm has a 50 day moving average of $533.81 and a 200 day moving average of $564.94.

UnitedHealth Group (NYSE:UNH) last released its quarterly earnings results on Thursday, January 16th. The healthcare conglomerate reported $6.81 earnings per share (EPS) for the quarter, topping the consensus estimate of $6.74 by $0.07. The business had revenue of $100.81 billion for the quarter, compared to analyst estimates of $101.60 billion. UnitedHealth Group had a net margin of 3.60% and a return on equity of 26.69%. The business’s revenue for the quarter was up 6.8% on a year-over-year basis. During the same period in the previous year, the company earned $5.83 earnings per share. On average, sell-side analysts predict that UnitedHealth Group Incorporated will post 29.63 earnings per share for the current fiscal year.

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.