Park Place Capital Corp Grows Holdings in UnitedHealth Group Incorporated (NYSE:UNH)

by · The Cerbat Gem

Park Place Capital Corp boosted its holdings in UnitedHealth Group Incorporated (NYSE:UNHFree Report) by 32.0% during the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 5,824 shares of the healthcare conglomerate’s stock after purchasing an additional 1,411 shares during the quarter. UnitedHealth Group comprises 0.8% of Park Place Capital Corp’s portfolio, making the stock its 26th largest position. Park Place Capital Corp’s holdings in UnitedHealth Group were worth $3,050,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in the business. Financial Management Professionals Inc. grew its position in UnitedHealth Group by 0.8% during the 1st quarter. Financial Management Professionals Inc. now owns 2,224 shares of the healthcare conglomerate’s stock valued at $1,165,000 after purchasing an additional 17 shares during the last quarter. Richwood Investment Advisors LLC increased its position in shares of UnitedHealth Group by 0.4% during the fourth quarter. Richwood Investment Advisors LLC now owns 5,247 shares of the healthcare conglomerate’s stock valued at $2,654,000 after acquiring an additional 20 shares in the last quarter. Global Wealth Strategies & Associates lifted its position in UnitedHealth Group by 28.6% in the 1st quarter. Global Wealth Strategies & Associates now owns 90 shares of the healthcare conglomerate’s stock valued at $47,000 after acquiring an additional 20 shares in the last quarter. Kolinsky Wealth Management LLC increased its holdings in shares of UnitedHealth Group by 1.0% in the 4th quarter. Kolinsky Wealth Management LLC now owns 2,135 shares of the healthcare conglomerate’s stock worth $1,080,000 after purchasing an additional 21 shares in the last quarter. Finally, Retirement Planning Group LLC lifted its holdings in shares of UnitedHealth Group by 5.1% during the first quarter. Retirement Planning Group LLC now owns 430 shares of the healthcare conglomerate’s stock valued at $225,000 after purchasing an additional 21 shares in the last quarter. 87.86% of the stock is currently owned by hedge funds and other institutional investors.

UnitedHealth Group Trading Up 0.1%

Shares of UnitedHealth Group stock opened at $302.43 on Friday. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.85 and a current ratio of 0.85. The company has a fifty day moving average of $339.15 and a 200 day moving average of $456.28. The company has a market capitalization of $274.35 billion, a P/E ratio of 12.66, a P/E/G ratio of 1.43 and a beta of 0.44. UnitedHealth Group Incorporated has a fifty-two week low of $248.88 and a fifty-two week high of $630.73.

UnitedHealth Group (NYSE:UNHGet Free Report) last issued its earnings results on Thursday, April 17th. The healthcare conglomerate reported $7.20 earnings per share (EPS) for the quarter, missing the consensus estimate of $7.29 by ($0.09). UnitedHealth Group had a net margin of 5.39% and a return on equity of 26.29%. The business had revenue of $109.58 billion for the quarter, compared to the consensus estimate of $111.56 billion. During the same period last year, the business posted $6.91 EPS. On average, sell-side analysts anticipate that UnitedHealth Group Incorporated will post 29.54 earnings per share for the current fiscal year.

UnitedHealth Group Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 24th. Shareholders of record on Monday, June 16th were paid a $2.21 dividend. The ex-dividend date of this dividend was Monday, June 16th. This represents a $8.84 annualized dividend and a yield of 2.92%. This is a boost from UnitedHealth Group’s previous quarterly dividend of $2.10. UnitedHealth Group’s payout ratio is presently 37.02%.

Insider Activity

In other news, CEO Stephen J. Hemsley purchased 86,700 shares of the business’s stock in a transaction on Friday, May 16th. The stock was acquired at an average price of $288.57 per share, for a total transaction of $25,019,019.00. Following the acquisition, the chief executive officer now directly owns 679,493 shares of the company’s stock, valued at $196,081,295.01. This represents a 14.63% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO John F. Rex bought 17,175 shares of the stock in a transaction dated Friday, May 16th. The shares were purchased at an average price of $291.12 per share, with a total value of $4,999,986.00. Following the completion of the transaction, the chief financial officer now directly owns 203,796 shares in the company, valued at approximately $59,329,091.52. The trade was a 9.20% increase in their position. The disclosure for this purchase can be found here. Insiders bought a total of 109,408 shares of company stock worth $31,607,768 over the last 90 days. Corporate insiders own 0.28% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the company. KeyCorp decreased their target price on UnitedHealth Group from $450.00 to $400.00 and set an “overweight” rating for the company in a research report on Monday, June 2nd. Oppenheimer dropped their target price on shares of UnitedHealth Group from $600.00 to $400.00 and set an “outperform” rating on the stock in a report on Wednesday, May 14th. Truist Financial reissued a “buy” rating and set a $360.00 price target (down from $580.00) on shares of UnitedHealth Group in a report on Monday, May 19th. Hsbc Global Res lowered UnitedHealth Group from a “hold” rating to a “moderate sell” rating in a report on Wednesday, May 21st. Finally, Royal Bank Of Canada dropped their target price on UnitedHealth Group from $525.00 to $355.00 and set an “outperform” rating on the stock in a research report on Friday, May 16th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and sixteen have given a buy rating to the stock. According to MarketBeat, UnitedHealth Group has an average rating of “Moderate Buy” and an average price target of $415.57.

Get Our Latest Stock Analysis on UnitedHealth Group

About UnitedHealth Group

(Free Report)

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.

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