Allspring Global Investments Holdings LLC Reduces Stock Position in UnitedHealth Group Incorporated (NYSE:UNH)

Allspring Global Investments Holdings LLC lessened its position in shares of UnitedHealth Group Incorporated (NYSE:UNH) by 8.1% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 358,737 shares of the healthcare conglomerate’s stock after selling 31,410 shares during the period. Allspring Global Investments Holdings LLC’s holdings in UnitedHealth Group were worth $181,012,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Genesee Capital Advisors LLC grew its holdings in UnitedHealth Group by 1.9% in the 3rd quarter. Genesee Capital Advisors LLC now owns 990 shares of the healthcare conglomerate’s stock valued at $579,000 after buying an additional 18 shares during the period. Jmac Enterprises LLC boosted its stake in shares of UnitedHealth Group by 2.2% in the third quarter. Jmac Enterprises LLC now owns 823 shares of the healthcare conglomerate’s stock valued at $481,000 after purchasing an additional 18 shares during the period. Powers Advisory Group LLC boosted its stake in shares of UnitedHealth Group by 4.8% during the 3rd quarter. Powers Advisory Group LLC now owns 418 shares of the healthcare conglomerate’s stock valued at $244,000 after buying an additional 19 shares during the last quarter. Wallace Capital Management Inc. grew its stake in UnitedHealth Group by 0.9% in the third quarter. Wallace Capital Management Inc. now owns 2,119 shares of the healthcare conglomerate’s stock worth $1,239,000 after purchasing an additional 19 shares in the last quarter. Finally, Western Pacific Wealth Management LP increased its stake in UnitedHealth Group by 2.2% during the fourth quarter. Western Pacific Wealth Management LP now owns 902 shares of the healthcare conglomerate’s stock valued at $456,000 after purchasing an additional 19 shares during the last quarter. 87.86% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts have recently commented on the company. Barclays lowered their target price on UnitedHealth Group from $655.00 to $642.00 and set an “overweight” rating for the company in a report on Friday, January 17th. UBS Group dropped their target price on UnitedHealth Group from $680.00 to $650.00 and set a “buy” rating on the stock in a research report on Wednesday, October 16th. Truist Financial dropped their price objective on shares of UnitedHealth Group from $625.00 to $610.00 and set a “buy” rating on the stock in a report on Monday, January 6th. Deutsche Bank Aktiengesellschaft raised their price target on shares of UnitedHealth Group from $595.00 to $625.00 and gave the company a “buy” rating in a research note on Tuesday, December 3rd. Finally, Hsbc Global Res raised UnitedHealth Group from a “hold” rating to a “strong-buy” rating in a report on Friday, January 10th. One equities research analyst has rated the stock with a hold rating, twenty have assigned a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, UnitedHealth Group has an average rating of “Buy” and an average price target of $629.32.

Insider Activity at UnitedHealth Group

In other UnitedHealth Group news, Director Timothy Patrick Flynn purchased 1,000 shares of the firm’s stock in a transaction that occurred on Friday, January 17th. The stock was purchased at an average cost of $511.57 per share, with a total value of $511,570.00. Following the purchase, the director now owns 4,500 shares of the company’s stock, valued at approximately $2,302,065. The trade was a 28.57 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 0.33% of the stock is owned by corporate insiders.

UnitedHealth Group Stock Up 0.1 %

UNH stock opened at $533.99 on Wednesday. The firm has a 50 day simple moving average of $527.67 and a 200 day simple moving average of $564.22. The firm has a market cap of $491.42 billion, a PE ratio of 34.45, a P/E/G ratio of 1.45 and a beta of 0.61. UnitedHealth Group Incorporated has a 12 month low of $436.38 and a 12 month high of $630.73. The company has a debt-to-equity ratio of 0.74, a current ratio of 0.83 and a quick ratio of 0.91.

UnitedHealth Group (NYSE:UNH) last issued its quarterly earnings data on Thursday, January 16th. The healthcare conglomerate reported $6.81 earnings per share for the quarter, beating 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 analyst estimates of $101.60 billion. During the same quarter last year, the firm earned $5.83 earnings per share. The company’s revenue for the quarter was up 6.8% on a year-over-year basis. Equities research analysts forecast that UnitedHealth Group Incorporated will post 29.54 earnings per share for the current fiscal year.

UnitedHealth Group 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.