Rede Wealth LLC Has $293,000 Stake in UnitedHealth Group Incorporated $UNH

Rede Wealth LLC cut its holdings in UnitedHealth Group Incorporated (NYSE:UNH) by 70.6% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 849 shares of the healthcare conglomerate’s stock after selling 2,043 shares during the period. Rede Wealth LLC’s holdings in UnitedHealth Group were worth $293,000 as of its most recent filing with the SEC.

Several other institutional investors also recently added to or reduced their stakes in UNH. Murphy Pohlad Asset Management LLC lifted its position in UnitedHealth Group by 21.8% during the 2nd quarter. Murphy Pohlad Asset Management LLC now owns 4,425 shares of the healthcare conglomerate’s stock worth $1,380,000 after buying an additional 791 shares in the last quarter. Carnegie Investment Counsel grew its stake in shares of UnitedHealth Group by 2.2% during the third quarter. Carnegie Investment Counsel now owns 105,621 shares of the healthcare conglomerate’s stock valued at $36,471,000 after purchasing an additional 2,316 shares during the last quarter. Berkshire Hathaway Inc bought a new position in UnitedHealth Group in the 2nd quarter worth approximately $1,572,193,000. Wealth Effects LLC boosted its position in UnitedHealth Group by 14.4% in the 2nd quarter. Wealth Effects LLC now owns 4,688 shares of the healthcare conglomerate’s stock valued at $1,463,000 after buying an additional 591 shares during the last quarter. Finally, IFP Advisors Inc raised its position in shares of UnitedHealth Group by 20.7% during the second quarter. IFP Advisors Inc now owns 20,683 shares of the healthcare conglomerate’s stock worth $6,462,000 after acquiring an additional 3,545 shares during the last quarter. 87.86% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several analysts have weighed in on the company. Evercore ISI raised UnitedHealth Group to a “strong-buy” rating in a report on Tuesday, January 6th. Piper Sandler reduced their price objective on shares of UnitedHealth Group from $423.00 to $417.00 and set an “overweight” rating on the stock in a research note on Tuesday, October 28th. The Goldman Sachs Group assumed coverage on shares of UnitedHealth Group in a research report on Tuesday, October 14th. They set a “buy” rating and a $406.00 target price for the company. UBS Group lifted their price objective on UnitedHealth Group from $378.00 to $430.00 and gave the stock a “buy” rating in a research note on Wednesday, October 29th. Finally, TD Cowen increased their target price on UnitedHealth Group from $335.00 to $338.00 and gave the company a “hold” rating in a research note on Thursday, October 30th. One analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, nine have given a Hold rating and three have given a Sell rating to the company’s stock. Based on data from MarketBeat, UnitedHealth Group presently has an average rating of “Moderate Buy” and an average price target of $385.75.

UnitedHealth Group Stock Performance

Shares of UnitedHealth Group stock opened at $338.47 on Wednesday. UnitedHealth Group Incorporated has a 12 month low of $234.60 and a 12 month high of $606.36. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.71. The company has a market capitalization of $306.60 billion, a PE ratio of 17.67, a PEG ratio of 2.00 and a beta of 0.42. The stock’s fifty day simple moving average is $330.76 and its 200 day simple moving average is $322.56.

UnitedHealth Group (NYSE:UNH) last released its quarterly earnings results on Tuesday, October 28th. The healthcare conglomerate reported $2.92 EPS for the quarter, topping analysts’ consensus estimates of $2.87 by $0.05. UnitedHealth Group had a return on equity of 19.23% and a net margin of 4.04%.The company had revenue of $113.16 billion for the quarter, compared to analyst estimates of $113.19 billion. During the same quarter last year, the firm posted $7.15 earnings per share. UnitedHealth Group’s revenue was up 12.2% compared to the same quarter last year. On average, research analysts predict that UnitedHealth Group Incorporated will post 29.54 EPS for the current year.

UnitedHealth Group Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 16th. Stockholders of record on Monday, December 8th were given a dividend of $2.21 per share. The ex-dividend date of this dividend was Monday, December 8th. This represents a $8.84 annualized dividend and a dividend yield of 2.6%. UnitedHealth Group’s dividend payout ratio is currently 46.14%.

About UnitedHealth Group

UnitedHealth Group Inc is a diversified health care company headquartered in Minnetonka, Minnesota, that operates two primary business platforms: UnitedHealthcare and Optum. Founded in 1977, the company provides a broad range of health benefits and health care services to individuals, employers, governmental entities and other organizations. Its operations span commercial employer-sponsored plans, individual and Medicare and Medicaid programs, and services for customers and health systems in the United States and selected international markets.

UnitedHealthcare is the company’s benefits business, administering health plans and networks, managing provider relationships, and offering coverage products for employers, individuals, and government-sponsored programs.