Corebridge Financial Inc. Has $106.99 Million Holdings in UnitedHealth Group Incorporated (NYSE:UNH)

Corebridge Financial Inc. cut its stake in UnitedHealth Group Incorporated (NYSE:UNH) by 5.9% in the fourth quarter, Holdings Channel.com reports. The firm owned 211,510 shares of the healthcare conglomerate’s stock after selling 13,167 shares during the quarter. UnitedHealth Group makes up approximately 0.6% of Corebridge Financial Inc.’s investment portfolio, making the stock its 18th largest position. Corebridge Financial Inc.’s holdings in UnitedHealth Group were worth $106,994,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. NewSquare Capital LLC bought a new position in UnitedHealth Group in the fourth quarter valued at $25,000. AlphaMark Advisors LLC acquired a new stake in shares of UnitedHealth Group in the fourth quarter valued at about $30,000. Promus Capital LLC acquired a new position in UnitedHealth Group during the fourth quarter valued at approximately $32,000. RPg Family Wealth Advisory LLC acquired a new position in shares of UnitedHealth Group during the 3rd quarter worth approximately $37,000. Finally, Pillar Financial Advisors LLC bought a new position in shares of UnitedHealth Group in the fourth quarter valued at $40,000. 87.86% of the stock is currently owned by institutional investors.

Insider Activity

In other news, Director Timothy Patrick Flynn acquired 1,000 shares of the business’s stock in a transaction that occurred on Friday, January 17th. The shares were bought 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 $2,302,065. The trade was a 28.57 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. 0.33% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on UNH. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of UnitedHealth Group from $595.00 to $625.00 and gave the company a “buy” rating in a research report on Tuesday, December 3rd. Oppenheimer upped their price objective on UnitedHealth Group from $610.00 to $640.00 and gave the company an “outperform” rating in a research note on Friday, December 6th. KeyCorp reissued an “overweight” rating and set a $650.00 target price on shares of UnitedHealth Group in a report on Friday, January 17th. Stephens lifted their price objective on shares of UnitedHealth Group from $605.00 to $675.00 and gave the stock an “overweight” rating in a research report on Thursday, December 5th. Finally, HSBC upgraded shares of UnitedHealth Group from a “hold” rating to a “buy” rating and set a $595.00 target price for the company in a research note on Friday, January 10th. Twenty investment analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Buy” and an average price target of $629.32.

UnitedHealth Group Trading Up 1.3 %

UNH opened at $517.72 on Monday. The company has a quick ratio of 0.91, a current ratio of 0.83 and a debt-to-equity ratio of 0.74. UnitedHealth Group Incorporated has a twelve month low of $436.38 and a twelve month high of $630.73. The stock has a market capitalization of $473.57 billion, a price-to-earnings ratio of 33.40, a P/E/G ratio of 1.37 and a beta of 0.62. The company has a 50-day simple moving average of $510.19 and a 200 day simple moving average of $546.71.

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

UnitedHealth Group Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 18th. Shareholders of record on Monday, March 10th were paid a dividend of $2.10 per share. This represents a $8.40 annualized dividend and a yield of 1.62%. The ex-dividend date of this dividend was Monday, March 10th. UnitedHealth Group’s payout ratio is 54.19%.

About UnitedHealth Group

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.