CoreFirst Bank & Trust Has $1.32 Million Stake in UnitedHealth Group Incorporated (NYSE:UNH)

Financial News Live · Dec 9, 2022 22:32

CoreFirst Bank & Trust increased its position in shares of UnitedHealth Group Incorporated (NYSE:UNH – Get Rating) by 6.7% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,577 shares of the healthcare conglomerate's stock after buying an additional 162 shares during the quarter. UnitedHealth Group accounts for 1.0% of CoreFirst Bank & Trust's portfolio, making the stock its 21st biggest holding. CoreFirst Bank & Trust's holdings in UnitedHealth Group were worth $1,324,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently modified their holdings of the company. Price T Rowe Associates Inc. MD boosted its stake in UnitedHealth Group by 17.8% during the second quarter. Price T Rowe Associates Inc. MD now owns 36,853,394 shares of the healthcare conglomerate's stock worth $18,929,009,000 after buying an additional 5,556,335 shares in the last quarter. Arrowstreet Capital Limited Partnership boosted its position in shares of UnitedHealth Group by 1,682.4% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 2,691,542 shares of the healthcare conglomerate's stock valued at $1,372,606,000 after acquiring an additional 2,540,538 shares in the last quarter. The Manufacturers Life Insurance Company raised its position in UnitedHealth Group by 60.4% in the first quarter. The Manufacturers Life Insurance Company now owns 5,009,284 shares of the healthcare conglomerate's stock worth $2,580,442,000 after purchasing an additional 1,886,128 shares in the last quarter. Capital Research Global Investors boosted its holdings in UnitedHealth Group by 8.3% during the first quarter. Capital Research Global Investors now owns 19,273,691 shares of the healthcare conglomerate's stock valued at $9,829,129,000 after purchasing an additional 1,482,338 shares in the last quarter. Finally, Invesco Ltd. raised its holdings in shares of UnitedHealth Group by 28.3% in the 1st quarter. Invesco Ltd. now owns 6,018,008 shares of the healthcare conglomerate's stock worth $3,069,002,000 after buying an additional 1,328,237 shares in the last quarter. Institutional investors own 87.25% of the company's stock.

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UnitedHealth Group Stock Up 0.9 %

Shares of NYSE:UNH opened at $547.92 on Friday. The company has a 50 day moving average of $528.87 and a 200-day moving average of $519.56. UnitedHealth Group Incorporated has a one year low of $445.73 and a one year high of $558.10. The stock has a market cap of $511.95 billion, a price-to-earnings ratio of 26.83, a P/E/G ratio of 1.69 and a beta of 0.73. The company has a debt-to-equity ratio of 0.58, a current ratio of 0.82 and a quick ratio of 0.82.

UnitedHealth Group (NYSE:UNH – Get Rating) last posted its quarterly earnings results on Friday, October 14th. The healthcare conglomerate reported $5.79 earnings per share for the quarter, beating analysts' consensus estimates of $5.45 by $0.34. The company had revenue of $80.89 billion for the quarter, compared to the consensus estimate of $80.54 billion. UnitedHealth Group had a return on equity of 26.59% and a net margin of 6.17%. The firm's quarterly revenue was up 11.8% on a year-over-year basis. During the same quarter in the prior year, the business posted $4.52 EPS. On average, sell-side analysts forecast that UnitedHealth Group Incorporated will post 22.01 earnings per share for the current year.

UnitedHealth Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 13th. Shareholders of record on Monday, December 5th will be paid a $1.65 dividend. The ex-dividend date of this dividend is Friday, December 2nd. This represents a $6.60 dividend on an annualized basis and a yield of 1.20%. UnitedHealth Group's payout ratio is 32.32%.

Analyst Upgrades and Downgrades

Several research firms have issued reports on UNH. Raymond James lowered UnitedHealth Group from a "strong-buy" rating to an "outperform" rating and set a $615.00 price objective for the company. in a research note on Monday, November 21st. SVB Leerink reduced their price target on shares of UnitedHealth Group from $625.00 to $618.00 and set an "outperform" rating on the stock in a research report on Monday, October 17th. Royal Bank of Canada raised their price objective on shares of UnitedHealth Group from $588.00 to $592.00 and gave the stock an "outperform" rating in a report on Monday, October 17th. Deutsche Bank Aktiengesellschaft increased their price target on UnitedHealth Group from $569.00 to $615.00 and gave the stock a "buy" rating in a research report on Tuesday, October 18th. Finally, StockNews.com initiated coverage on UnitedHealth Group in a report on Wednesday, October 12th. They set a "strong-buy" rating on the stock. Three equities research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $596.16.

Insider Activity

In other news, EVP Erin Mcsweeney sold 616 shares of the business's stock in a transaction dated Friday, December 2nd. The shares were sold at an average price of $535.00, for a total transaction of $329,560.00. Following the transaction, the executive vice president now directly owns 8,463 shares in the company, valued at approximately $4,527,705. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.40% of the stock is currently owned by company insiders.

About UnitedHealth Group

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UnitedHealth Group Incorporated operates as a diversified health care company in the United States. It 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 well-being services to individuals age 50 and older addressing their needs for preventive and acute health care services, as well as services dealing with chronic disease and other specialized issues for older individuals; Medicaid plans, children's health insurance and health care programs; health and dental benefits; and hospital and clinical services.