Thrive Wealth Management LLC Boosts Stake in UnitedHealth Group Incorporated (NYSE:UNH)

Thrive Wealth Management LLC grew its stake in shares of UnitedHealth Group Incorporated (NYSE:UNH) by 9.6% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,649 shares of the healthcare conglomerate’s stock after buying an additional 144 shares during the period. Thrive Wealth Management LLC’s holdings in UnitedHealth Group were worth $793,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Moneta Group Investment Advisors LLC lifted its position in shares of UnitedHealth Group by 100,076.4% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 11,823,820 shares of the healthcare conglomerate’s stock valued at $6,268,753,000 after acquiring an additional 11,812,017 shares in the last quarter. Norges Bank bought a new stake in UnitedHealth Group in the 4th quarter worth approximately $5,210,004,000. Gateway Advisory LLC increased its stake in UnitedHealth Group by 48,406.9% during the first quarter. Gateway Advisory LLC now owns 4,762,407 shares of the healthcare conglomerate’s stock worth $4,762,000 after acquiring an additional 4,752,589 shares during the last quarter. Envestnet Asset Management Inc. lifted its position in UnitedHealth Group by 264.2% in the first quarter. Envestnet Asset Management Inc. now owns 5,511,174 shares of the healthcare conglomerate’s stock worth $732,934,000 after buying an additional 3,997,959 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership raised its stake in shares of UnitedHealth Group by 1,682.4% in the first 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 during the period. Institutional investors own 85.69% of the company’s stock.

Insiders Place Their Bets

In related news, CEO Andrew Witty sold 4,000 shares of the firm’s stock in a transaction dated Wednesday, July 19th. The stock was sold at an average price of $506.19, for a total transaction of $2,024,760.00. Following the sale, the chief executive officer now directly owns 78,573 shares of the company’s stock, valued at $39,772,866.87. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 0.35% of the stock is owned by insiders.

UnitedHealth Group Stock Down 0.1 %

NYSE:UNH opened at $486.06 on Tuesday. UnitedHealth Group Incorporated has a twelve month low of $445.68 and a twelve month high of $558.10. The company’s 50 day moving average is $492.05 and its two-hundred day moving average is $486.73. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 0.68. The company has a market cap of $450.24 billion, a PE ratio of 21.75, a P/E/G ratio of 1.43 and a beta of 0.66.

UnitedHealth Group (NYSE:UNH) last issued its quarterly earnings results on Friday, July 14th. The healthcare conglomerate reported $6.14 EPS for the quarter, topping analysts’ consensus estimates of $5.92 by $0.22. UnitedHealth Group had a return on equity of 26.72% and a net margin of 6.06%. The company had revenue of $92.90 billion during the quarter, compared to analysts’ expectations of $90.97 billion. During the same quarter in the previous year, the firm posted $5.57 EPS. The firm’s revenue was up 15.6% compared to the same quarter last year. Analysts anticipate that UnitedHealth Group Incorporated will post 24.83 EPS for the current year.

UnitedHealth Group Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 19th. Investors of record on Monday, September 11th will be issued a dividend of $1.88 per share. The ex-dividend date is Friday, September 8th. This represents a $7.52 annualized dividend and a dividend yield of 1.55%. UnitedHealth Group’s dividend payout ratio (DPR) is presently 33.65%.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on UNH. Stephens reissued an “overweight” rating and issued a $560.00 price objective on shares of UnitedHealth Group in a research report on Friday, August 11th. HSBC started coverage on UnitedHealth Group in a research report on Wednesday, September 6th. They set a “hold” rating and a $540.00 target price for the company. Mizuho reduced their price target on shares of UnitedHealth Group from $600.00 to $549.00 in a research note on Tuesday, July 11th. SVB Securities lowered their price target on UnitedHealth Group from $625.00 to $560.00 in a report on Wednesday, June 14th. Finally, Truist Financial cut their target price on shares of UnitedHealth Group from $610.00 to $580.00 in a research report on Wednesday, June 14th. Two investment analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, UnitedHealth Group presently has an average rating of “Moderate Buy” and a consensus price target of $575.65.

About UnitedHealth Group

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 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.