Kennebec Savings Bank Makes New Investment in UnitedHealth Group Incorporated (NYSE:UNH)

by · The Markets Daily

Kennebec Savings Bank bought a new position in UnitedHealth Group Incorporated (NYSE:UNH – Free Report) in the 3rd quarter, according to its most recent disclosure with the SEC. The firm bought 2,186 shares of the healthcare conglomerate’s stock, valued at approximately $1,278,000. UnitedHealth Group accounts for approximately 1.3% of Kennebec Savings Bank’s investment portfolio, making the stock its 19th largest holding.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Delta Financial Group Inc. lifted its position in shares of UnitedHealth Group by 1.0% during the third quarter. Delta Financial Group Inc. now owns 1,650 shares of the healthcare conglomerate’s stock worth $965,000 after purchasing an additional 17 shares in the last quarter. Signature Resources Capital Management LLC lifted its holdings in UnitedHealth Group by 40.0% during the 2nd quarter. Signature Resources Capital Management LLC now owns 63 shares of the healthcare conglomerate’s stock worth $32,000 after buying an additional 18 shares in the last quarter. Saxony Capital Management LLC increased its position in shares of UnitedHealth Group by 3.5% during the second quarter. Saxony Capital Management LLC now owns 530 shares of the healthcare conglomerate’s stock worth $270,000 after acquiring an additional 18 shares during the period. GoalVest Advisory LLC boosted its holdings in UnitedHealth Group by 0.6% in the second quarter. GoalVest Advisory LLC now owns 3,124 shares of the healthcare conglomerate’s stock valued at $1,591,000 after purchasing an additional 18 shares during the period. Finally, Fiduciary Group LLC increased its holdings in UnitedHealth Group by 0.5% during the 2nd quarter. Fiduciary Group LLC now owns 3,695 shares of the healthcare conglomerate’s stock worth $1,882,000 after purchasing an additional 18 shares during the period. 87.86% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on UNH. UBS Group reduced their target price on shares of UnitedHealth Group from $680.00 to $650.00 and set a “buy” rating on the stock in a report on Wednesday, October 16th. Robert W. Baird lifted their price objective on shares of UnitedHealth Group from $597.00 to $640.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 17th. TD Cowen raised their price target on UnitedHealth Group from $601.00 to $609.00 and gave the company a “buy” rating in a research note on Friday, October 18th. Truist Financial reiterated a “buy” rating and issued a $625.00 price objective (down previously from $640.00) on shares of UnitedHealth Group in a report on Wednesday, October 16th. Finally, Argus increased their price target on shares of UnitedHealth Group from $570.00 to $600.00 and gave the company a “buy” rating in a research note on Wednesday, July 17th. Four research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, UnitedHealth Group has a consensus rating of “Moderate Buy” and an average target price of $615.53.

Get Our Latest Stock Analysis on UnitedHealth Group

UnitedHealth Group Trading Up 1.7 %

Shares of UnitedHealth Group stock opened at $615.81 on Monday. The company has a 50-day moving average of $581.93 and a two-hundred day moving average of $545.44. The stock has a market cap of $566.72 billion, a PE ratio of 40.12, a price-to-earnings-growth ratio of 1.81 and a beta of 0.58. The company has a current ratio of 0.91, a quick ratio of 0.88 and a debt-to-equity ratio of 0.74. UnitedHealth Group Incorporated has a 12-month low of $436.38 and a 12-month high of $619.80.

UnitedHealth Group (NYSE:UNH – Get Free Report) last posted its earnings results on Tuesday, October 15th. The healthcare conglomerate reported $7.15 EPS for the quarter, topping analysts’ consensus estimates of $7.00 by $0.15. UnitedHealth Group had a return on equity of 26.37% and a net margin of 3.63%. The company had revenue of $100.82 billion for the quarter, compared to the consensus estimate of $99.14 billion. During the same period in the previous year, the business earned $6.56 earnings per share. UnitedHealth Group’s quarterly revenue was up 9.2% compared to the same quarter last year. On average, research analysts anticipate that UnitedHealth Group Incorporated will post 27.61 EPS for the current fiscal year.

UnitedHealth Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 17th. Investors of record on Monday, December 9th will be given a dividend of $2.10 per share. The ex-dividend date of this dividend is Monday, December 9th. This represents a $8.40 annualized dividend and a dividend yield of 1.36%. UnitedHealth Group’s dividend payout ratio is currently 54.72%.

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.

Further Reading

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