Cannon Advisors Inc. Has $206,000 Holdings in UnitedHealth Group Incorporated (NYSE:UNH)

Cannon Advisors Inc. reduced its holdings in shares of UnitedHealth Group Incorporated (NYSE:UNH) by 46.0% in the fourth quarter, HoldingsChannel.com reports. The fund owned 407 shares of the healthcare conglomerate’s stock after selling 347 shares during the quarter. Cannon Advisors Inc.’s holdings in UnitedHealth Group were worth $206,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. M&T Bank Corp grew its position in shares of UnitedHealth Group by 13.4% during the 3rd quarter. M&T Bank Corp now owns 220,590 shares of the healthcare conglomerate’s stock worth $128,975,000 after buying an additional 26,074 shares during the period. Sugarloaf Wealth Management LLC grew its holdings in UnitedHealth Group by 17.6% in the fourth quarter. Sugarloaf Wealth Management LLC now owns 7,957 shares of the healthcare conglomerate’s stock worth $4,025,000 after purchasing an additional 1,193 shares during the period. Benjamin Edwards Inc. raised its holdings in shares of UnitedHealth Group by 1,275.3% during the third quarter. Benjamin Edwards Inc. now owns 44,547 shares of the healthcare conglomerate’s stock valued at $26,060,000 after purchasing an additional 41,308 shares during the period. Parsifal Capital Management LP acquired a new stake in shares of UnitedHealth Group in the 3rd quarter valued at about $21,165,000. Finally, Signal Advisors Wealth LLC raised its stake in UnitedHealth Group by 13.0% during the 4th quarter. Signal Advisors Wealth LLC now owns 9,115 shares of the healthcare conglomerate’s stock worth $4,611,000 after buying an additional 1,051 shares during the period. 87.86% of the stock is owned by institutional investors and hedge funds.

UnitedHealth Group Price Performance

UNH stock opened at $524.48 on Tuesday. The firm has a 50 day moving average of $509.10 and a 200-day moving average of $543.47. The company has a current ratio of 0.83, a quick ratio of 0.91 and a debt-to-equity ratio of 0.74. The firm has a market capitalization of $479.75 billion, a P/E ratio of 33.84, a price-to-earnings-growth ratio of 1.37 and a beta of 0.62. UnitedHealth Group Incorporated has a 12 month low of $436.38 and a 12 month high of $630.73.

UnitedHealth Group (NYSE:UNH) last released its quarterly earnings results on Thursday, January 16th. The healthcare conglomerate reported $6.81 earnings per share for the quarter, topping the consensus estimate of $6.74 by $0.07. UnitedHealth Group had a net margin of 3.60% and a return on equity of 26.69%. The firm had revenue of $100.81 billion for the quarter, compared to analysts’ expectations of $101.60 billion. During the same quarter in the prior year, the firm posted $5.83 earnings per share. The business’s quarterly revenue was up 6.8% on a year-over-year basis. As a group, sell-side analysts predict that UnitedHealth Group Incorporated will post 29.54 earnings per share for the current fiscal year.

UnitedHealth Group Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, March 18th. Investors of record on Monday, March 10th were paid a $2.10 dividend. This represents a $8.40 dividend on an annualized basis and a yield of 1.60%. The ex-dividend date of this dividend was Monday, March 10th. UnitedHealth Group’s dividend payout ratio is currently 54.19%.

Analyst Ratings Changes

A number of brokerages have recently issued reports on UNH. Cantor Fitzgerald reiterated an “overweight” rating and set a $700.00 price objective on shares of UnitedHealth Group in a report on Friday, January 17th. Truist Financial decreased their price objective on UnitedHealth Group from $625.00 to $610.00 and set a “buy” rating for the company in a report on Monday, January 6th. Deutsche Bank Aktiengesellschaft boosted their target price on UnitedHealth Group from $595.00 to $625.00 and gave the stock a “buy” rating in a research note on Tuesday, December 3rd. Oppenheimer boosted their price objective on UnitedHealth Group from $610.00 to $640.00 and gave the stock an “outperform” rating in a research report on Friday, December 6th. Finally, Piper Sandler reduced their price objective on UnitedHealth Group from $605.00 to $600.00 and set an “overweight” rating for the company in a report on Thursday, January 2nd. Twenty research analysts have rated the stock with a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average price target of $629.32.

Insiders Place Their Bets

In related news, Director Timothy Patrick Flynn acquired 1,000 shares of UnitedHealth Group stock in a transaction dated Friday, January 17th. The shares were purchased at an average cost of $511.57 per share, with a total value of $511,570.00. Following the completion of the purchase, the director now owns 4,500 shares of the company’s stock, valued at $2,302,065. This represents a 28.57 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.33% of the company’s stock.

UnitedHealth Group Company 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.