Raymond James Trust N.A. Has $42.33 Million Stake in UnitedHealth Group Incorporated (NYSE:UNH)

Raymond James Trust N.A. grew its position in UnitedHealth Group Incorporated (NYSE:UNH) by 3.5% during the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 72,401 shares of the healthcare conglomerate’s stock after purchasing an additional 2,475 shares during the period. UnitedHealth Group comprises approximately 0.9% of Raymond James Trust N.A.’s holdings, making the stock its 19th biggest holding. Raymond James Trust N.A.’s holdings in UnitedHealth Group were worth $42,331,000 as of its most recent filing with the SEC.

A number of other hedge funds have also made changes to their positions in UNH. Kathleen S. Wright Associates Inc. bought a new position in shares of UnitedHealth Group in the third quarter valued at approximately $27,000. Global Wealth Strategies & Associates raised its position in UnitedHealth Group by 152.4% in the 3rd quarter. Global Wealth Strategies & Associates now owns 53 shares of the healthcare conglomerate’s stock valued at $31,000 after purchasing an additional 32 shares during the last quarter. Macroview Investment Management LLC increased its stake in shares of UnitedHealth Group by 671.4% in the second quarter. Macroview Investment Management LLC now owns 54 shares of the healthcare conglomerate’s stock valued at $28,000 after buying an additional 47 shares in the last quarter. West Financial Advisors LLC acquired a new position in UnitedHealth Group during the 3rd quarter worth about $32,000. Finally, Bbjs Financial Advisors LLC acquired a new stake in UnitedHealth Group in the 2nd quarter valued at about $31,000. Institutional investors and hedge funds own 87.86% of the company’s stock.

UnitedHealth Group Stock Down 0.5 %

Shares of UNH stock opened at $597.56 on Friday. The company has a market capitalization of $549.92 billion, a price-to-earnings ratio of 38.93, a P/E/G ratio of 1.69 and a beta of 0.58. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 0.74. UnitedHealth Group Incorporated has a 12-month low of $436.38 and a 12-month high of $630.73. The firm has a fifty day moving average of $582.70 and a 200-day moving average of $551.92.

UnitedHealth Group (NYSE:UNH) last posted its quarterly earnings data on Tuesday, October 15th. The healthcare conglomerate reported $7.15 earnings per share for the quarter, topping the consensus estimate of $7.00 by $0.15. The company had revenue of $100.82 billion during the quarter, compared to analysts’ expectations of $99.14 billion. UnitedHealth Group had a return on equity of 26.37% and a net margin of 3.63%. UnitedHealth Group’s revenue for the quarter was up 9.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $6.56 earnings per share. As a group, equities research analysts predict that UnitedHealth Group Incorporated will post 27.6 earnings per share for the current fiscal year.

UnitedHealth Group Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 17th. Shareholders of record on Monday, December 9th will be paid a $2.10 dividend. The ex-dividend date of this dividend is Monday, December 9th. This represents a $8.40 annualized dividend and a yield of 1.41%. UnitedHealth Group’s payout ratio is currently 54.72%.

Wall Street Analyst Weigh In

UNH has been the subject of a number of research reports. Truist Financial reissued a “buy” rating and issued a $625.00 price target (down previously from $640.00) on shares of UnitedHealth Group in a report on Wednesday, October 16th. StockNews.com downgraded UnitedHealth Group from a “buy” rating to a “hold” rating in a research report on Wednesday. HSBC lowered UnitedHealth Group from a “buy” rating to a “hold” rating in a research report on Thursday, October 17th. Royal Bank of Canada lowered their price target on shares of UnitedHealth Group from $615.00 to $595.00 and set an “outperform” rating for the company in a research report on Wednesday, October 16th. Finally, Barclays reduced their price objective on shares of UnitedHealth Group from $604.00 to $603.00 and set an “overweight” rating on the stock in a research note on Tuesday, October 22nd. Four analysts have rated the stock with a hold rating, seventeen have given a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $615.53.

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.