SteelPeak Wealth LLC Trims Position in UnitedHealth Group Incorporated (NYSE:UNH)

SteelPeak Wealth LLC cut its stake in UnitedHealth Group Incorporated (NYSE:UNH) by 59.5% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 2,623 shares of the healthcare conglomerate’s stock after selling 3,856 shares during the period. SteelPeak Wealth LLC’s holdings in UnitedHealth Group were worth $1,534,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in UNH. Kathleen S. Wright Associates Inc. purchased a new position in shares of UnitedHealth Group in the 3rd quarter valued at $27,000. Macroview Investment Management LLC lifted its position in shares of UnitedHealth Group by 671.4% during the second quarter. Macroview Investment Management LLC now owns 54 shares of the healthcare conglomerate’s stock worth $28,000 after purchasing an additional 47 shares in the last quarter. Delos Wealth Advisors LLC boosted its position in UnitedHealth Group by 757.1% in the 1st quarter. Delos Wealth Advisors LLC now owns 60 shares of the healthcare conglomerate’s stock valued at $30,000 after buying an additional 53 shares during the last quarter. Bbjs Financial Advisors LLC purchased a new position in UnitedHealth Group in the second quarter valued at about $31,000. Finally, Global Wealth Strategies & Associates raised its position in shares of 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 in the last quarter. Institutional investors and hedge funds own 87.86% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on UNH. Jefferies Financial Group raised shares of UnitedHealth Group from a “hold” rating to a “buy” rating and raised their price objective for the stock from $481.00 to $647.00 in a report on Wednesday, July 17th. Hsbc Global Res cut UnitedHealth Group from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 17th. Robert W. Baird boosted their price target on UnitedHealth Group from $597.00 to $640.00 and gave the company an “outperform” rating in a report on Wednesday, July 17th. UBS Group decreased their price objective on shares of UnitedHealth Group from $680.00 to $650.00 and set a “buy” rating for the company in a report on Wednesday, October 16th. Finally, Bank of America decreased their price target on shares of UnitedHealth Group from $675.00 to $650.00 and set a “buy” rating for the company in a report on Wednesday, October 16th. Four analysts have rated the stock with a hold rating, seventeen have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, UnitedHealth Group has an average rating of “Moderate Buy” and an average price target of $615.53.

UnitedHealth Group Price Performance

Shares of NYSE UNH opened at $563.71 on Thursday. The firm’s 50-day simple moving average is $582.60 and its 200 day simple moving average is $540.48. The stock has a market cap of $520.54 billion, a P/E ratio of 36.72, a P/E/G ratio of 1.66 and a beta of 0.58. The company has a quick ratio of 0.88, a current ratio of 0.91 and a debt-to-equity ratio of 0.74. UnitedHealth Group Incorporated has a fifty-two week low of $436.38 and a fifty-two week high of $608.63.

UnitedHealth Group (NYSE:UNH) last posted its quarterly earnings data on Tuesday, October 15th. The healthcare conglomerate reported $7.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $7.00 by $0.15. The business had revenue of $100.82 billion during the quarter, compared to analysts’ expectations of $99.14 billion. UnitedHealth Group had a net margin of 3.63% and a return on equity of 26.37%. The business’s revenue was up 9.2% on a year-over-year basis. During the same period last year, the firm posted $6.56 earnings per share. Equities analysts expect that UnitedHealth Group Incorporated will post 27.61 EPS for the current year.

UnitedHealth Group Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 24th. Shareholders of record on Monday, September 16th were given a $2.10 dividend. This represents a $8.40 annualized dividend and a yield of 1.49%. The ex-dividend date of this dividend was Monday, September 16th. UnitedHealth Group’s dividend payout ratio (DPR) is presently 54.72%.

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.