Synovus Financial Corp Sells 468 Shares of UnitedHealth Group Incorporated (NYSE:UNH)

Synovus Financial Corp reduced its stake in UnitedHealth Group Incorporated (NYSE:UNH) by 0.9% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 50,113 shares of the healthcare conglomerate’s stock after selling 468 shares during the period. Synovus Financial Corp’s holdings in UnitedHealth Group were worth $29,300,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in UNH. Coronation Fund Managers Ltd. boosted its holdings in shares of UnitedHealth Group by 1.4% in the 2nd quarter. Coronation Fund Managers Ltd. now owns 94,397 shares of the healthcare conglomerate’s stock valued at $48,073,000 after purchasing an additional 1,261 shares in the last quarter. Pure Financial Advisors LLC lifted its stake in UnitedHealth Group by 1.7% in the 2nd quarter. Pure Financial Advisors LLC now owns 4,469 shares of the healthcare conglomerate’s stock valued at $2,276,000 after purchasing an additional 73 shares during the last quarter. TruNorth Capital Management LLC increased its holdings in shares of UnitedHealth Group by 262.5% during the second quarter. TruNorth Capital Management LLC now owns 116 shares of the healthcare conglomerate’s stock worth $59,000 after buying an additional 84 shares in the last quarter. Old Port Advisors grew its position in UnitedHealth Group by 4.5% during the 2nd quarter. Old Port Advisors now owns 943 shares of the healthcare conglomerate’s stock worth $480,000 after acquiring an additional 41 shares during the last quarter. Finally, Rappaport Reiches Capital Management LLC raised its position in UnitedHealth Group by 2.8% in the second quarter. Rappaport Reiches Capital Management LLC now owns 1,081 shares of the healthcare conglomerate’s stock valued at $551,000 after purchasing an additional 29 shares during the last quarter. 87.86% of the stock is owned by institutional investors and hedge funds.

UnitedHealth Group Trading Down 3.3 %

NYSE UNH opened at $515.73 on Friday. UnitedHealth Group Incorporated has a 12 month low of $436.38 and a 12 month high of $630.73. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 0.74. The firm has a market capitalization of $474.62 billion, a P/E ratio of 33.60, a PEG ratio of 1.57 and a beta of 0.58. The business has a fifty day simple moving average of $583.29 and a 200 day simple moving average of $559.30.

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

UnitedHealth Group Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 17th. Shareholders of record on Monday, December 9th will be issued a $2.10 dividend. This represents a $8.40 annualized dividend and a yield of 1.63%. The ex-dividend date is Monday, December 9th. UnitedHealth Group’s payout ratio is 54.72%.

Analyst Ratings Changes

Several equities research analysts recently commented on UNH shares. TD Cowen lifted their target price on shares of UnitedHealth Group from $601.00 to $609.00 and gave the stock a “buy” rating in a research report on Friday, October 18th. Truist Financial reaffirmed a “buy” rating and set a $625.00 target price (down from $640.00) on shares of UnitedHealth Group in a research report on Wednesday, October 16th. UBS Group cut their price objective on UnitedHealth Group from $680.00 to $650.00 and set a “buy” rating on the stock in a research note on Wednesday, October 16th. Deutsche Bank Aktiengesellschaft boosted their price target on shares of UnitedHealth Group from $595.00 to $625.00 and gave the stock a “buy” rating in a research report on Tuesday, December 3rd. Finally, Barclays boosted their target price on shares of UnitedHealth Group from $603.00 to $655.00 and gave the company an “overweight” rating in a report on Wednesday, November 27th. Three equities research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, UnitedHealth Group currently has an average rating of “Moderate Buy” and an average target price of $626.84.

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.