UnitedHealth Group Incorporated (NYSE:UNH) Shares Sold by Covenant Asset Management LLC

Covenant Asset Management LLC lowered its holdings in UnitedHealth Group Incorporated (NYSE:UNH) by 3.4% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 7,733 shares of the healthcare conglomerate’s stock after selling 276 shares during the period. Covenant Asset Management LLC’s holdings in UnitedHealth Group were worth $3,912,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in UNH. International Assets Investment Management LLC raised its position in shares of UnitedHealth Group by 78,814.4% during the third quarter. International Assets Investment Management LLC now owns 5,296,737 shares of the healthcare conglomerate’s stock worth $3,096,896,000 after purchasing an additional 5,290,025 shares during the period. Accredited Investors Inc. lifted its stake in UnitedHealth Group by 9,235.4% during the third quarter. Accredited Investors Inc. now owns 784,924 shares of the healthcare conglomerate’s stock valued at $458,929,000 after buying an additional 776,516 shares in the last quarter. Raymond James & Associates raised its holdings in shares of UnitedHealth Group by 33.1% during the third quarter. Raymond James & Associates now owns 2,361,396 shares of the healthcare conglomerate’s stock valued at $1,380,661,000 after acquiring an additional 587,088 shares during the period. Caisse DE Depot ET Placement DU Quebec boosted its stake in UnitedHealth Group by 129.7% in the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 1,029,540 shares of the healthcare conglomerate’s stock worth $601,951,000 after purchasing an additional 581,324 shares during the period. Finally, State Street Corp raised its stake in UnitedHealth Group by 1.3% during the 3rd quarter. State Street Corp now owns 45,540,102 shares of the healthcare conglomerate’s stock valued at $26,626,387,000 after purchasing an additional 563,554 shares during the period. Institutional investors and hedge funds own 87.86% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the company. TD Cowen upped their price target on UnitedHealth Group from $601.00 to $609.00 and gave the company a “buy” rating in a research report on Friday, October 18th. StockNews.com upgraded shares of UnitedHealth Group from a “hold” rating to a “buy” rating in a report on Thursday, January 23rd. Barclays decreased their target price 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. KeyCorp reissued an “overweight” rating and set a $650.00 price objective on shares of UnitedHealth Group in a research report on Friday, January 17th. Finally, Cantor Fitzgerald reiterated an “overweight” rating and set a $700.00 price target on shares of UnitedHealth Group in a report on Friday, January 17th. One analyst has rated the stock with a hold rating, twenty have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, UnitedHealth Group presently has a consensus rating of “Buy” and an average price target of $629.32.

Insider Activity

In other news, Director Timothy Patrick Flynn purchased 1,000 shares of the business’s stock in a transaction on Friday, January 17th. The stock was purchased at an average price of $511.57 per share, with a total value of $511,570.00. Following the acquisition, the director now directly owns 4,500 shares in the company, valued at approximately $2,302,065. The trade was a 28.57 % increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this link. 0.33% of the stock is owned by company insiders.

UnitedHealth Group Trading Down 1.4 %

UnitedHealth Group stock opened at $523.48 on Friday. The firm has a market capitalization of $481.75 billion, a PE ratio of 33.77, a PEG ratio of 1.45 and a beta of 0.61. The business’s 50-day simple moving average is $523.63 and its 200-day simple moving average is $563.48. 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.

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

UnitedHealth Group 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.