Perennial Investment Advisors LLC Has $1.38 Million Position in UnitedHealth Group Incorporated (NYSE:UNH)

Perennial Investment Advisors LLC reduced its stake in shares of UnitedHealth Group Incorporated (NYSE:UNH) by 2.3% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 2,729 shares of the healthcare conglomerate’s stock after selling 63 shares during the quarter. Perennial Investment Advisors LLC’s holdings in UnitedHealth Group were worth $1,381,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of UNH. Norges Bank acquired a new stake in shares of UnitedHealth Group in the 4th quarter valued at $6,375,744,000. Raymond James Financial Inc. acquired a new stake in UnitedHealth Group in the fourth quarter valued at about $1,914,740,000. Amundi raised its stake in UnitedHealth Group by 97.2% during the fourth quarter. Amundi now owns 6,069,100 shares of the healthcare conglomerate’s stock worth $3,183,132,000 after acquiring an additional 2,991,470 shares in the last quarter. Proficio Capital Partners LLC boosted its stake in shares of UnitedHealth Group by 76,830.4% in the 4th quarter. Proficio Capital Partners LLC now owns 1,888,641 shares of the healthcare conglomerate’s stock valued at $955,388,000 after purchasing an additional 1,886,186 shares in the last quarter. Finally, Franklin Resources Inc. increased its position in UnitedHealth Group by 10.7% during the 4th quarter. Franklin Resources Inc. now owns 8,923,770 shares of the healthcare conglomerate’s stock worth $4,514,178,000 after purchasing an additional 861,854 shares in the last quarter. Institutional investors and hedge funds own 87.86% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the stock. Piper Sandler decreased 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. Wells Fargo & Company dropped their target price 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. Hsbc Global Res upgraded UnitedHealth Group from a “hold” rating to a “strong-buy” rating in a report on Friday, January 10th. KeyCorp reiterated an “overweight” rating and set a $650.00 target price on shares of UnitedHealth Group in a research report on Friday, January 17th. Finally, Barclays dropped their price target on shares of UnitedHealth Group from $655.00 to $642.00 and set an “overweight” rating for the company in a research note on Friday, January 17th. Twenty investment analysts have rated the stock with a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Buy” and an average price target of $629.32.

Insiders Place Their Bets

In other news, Director Timothy Patrick Flynn bought 1,000 shares of the company’s stock in a transaction on Friday, January 17th. The shares were purchased at an average price of $511.57 per share, with a total value of $511,570.00. Following the transaction, the director now directly owns 4,500 shares in the company, valued at $2,302,065. This represents a 28.57 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.33% of the company’s stock.

UnitedHealth Group Stock Down 2.9 %

Shares of NYSE:UNH opened at $524.94 on Friday. The company has a debt-to-equity ratio of 0.74, a quick ratio of 0.91 and a current ratio of 0.83. UnitedHealth Group Incorporated has a 52-week low of $436.38 and a 52-week high of $630.73. The business’s 50 day simple moving average is $509.24 and its two-hundred day simple moving average is $542.37. The firm has a market cap of $480.17 billion, a P/E ratio of 33.87, a PEG ratio of 1.37 and a beta of 0.62.

UnitedHealth Group (NYSE:UNH) last issued its quarterly earnings data on Thursday, January 16th. The healthcare conglomerate reported $6.81 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $6.74 by $0.07. UnitedHealth Group had a net margin of 3.60% and a return on equity of 26.69%. The firm had revenue of $100.81 billion during the quarter, compared to analysts’ expectations of $101.60 billion. During the same period last year, the company earned $5.83 earnings per share. The business’s revenue was up 6.8% on a year-over-year basis. As a group, research analysts forecast that UnitedHealth Group Incorporated will post 29.54 EPS for the current fiscal year.

UnitedHealth Group Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, March 18th. Investors of record on Monday, March 10th were given a $2.10 dividend. This represents a $8.40 dividend on an annualized basis and a yield of 1.60%. The ex-dividend date of this dividend was Monday, March 10th. UnitedHealth Group’s payout ratio is currently 54.19%.

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.