Synovus Financial Corp Reduces Stock Position in UnitedHealth Group Incorporated (NYSE:UNH)

Synovus Financial Corp reduced its holdings in UnitedHealth Group Incorporated (NYSE:UNH) by 0.9% during the third quarter, Holdings Channel.com reports. The institutional investor owned 50,113 shares of the healthcare conglomerate’s stock after selling 468 shares during the quarter. Synovus Financial Corp’s holdings in UnitedHealth Group were worth $29,300,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in UNH. Kathleen S. Wright Associates Inc. bought a new position in UnitedHealth Group in the third quarter worth about $27,000. Macroview Investment Management LLC lifted its position in UnitedHealth Group by 671.4% during the second quarter. Macroview Investment Management LLC now owns 54 shares of the healthcare conglomerate’s stock valued at $28,000 after buying an additional 47 shares during the period. Global Wealth Strategies & Associates increased its stake in shares of UnitedHealth Group by 152.4% in the 3rd quarter. Global Wealth Strategies & Associates now owns 53 shares of the healthcare conglomerate’s stock worth $31,000 after acquiring an additional 32 shares in the last quarter. Signature Resources Capital Management LLC boosted its position in shares of UnitedHealth Group by 40.0% in the 2nd quarter. Signature Resources Capital Management LLC now owns 63 shares of the healthcare conglomerate’s stock worth $32,000 after purchasing an additional 18 shares in the last quarter. Finally, West Financial Advisors LLC purchased a new position in UnitedHealth Group during the third quarter valued at $32,000. Institutional investors own 87.86% of the company’s stock.

UnitedHealth Group Stock Performance

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 stock has a market capitalization of $474.62 billion, a P/E ratio of 33.60, a P/E/G ratio of 1.57 and a beta of 0.58. The stock has a 50-day moving average price of $583.29 and a 200 day moving average price of $559.30.

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

UnitedHealth Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 17th. Investors of record on Monday, December 9th will be issued a $2.10 dividend. This represents a $8.40 dividend on an annualized basis and a dividend yield of 1.63%. The ex-dividend date is Monday, December 9th. UnitedHealth Group’s dividend payout ratio (DPR) is presently 54.72%.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on UNH. Cantor Fitzgerald upped their price target on shares of UnitedHealth Group from $591.00 to $644.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 16th. StockNews.com raised shares of UnitedHealth Group from a “hold” rating to a “buy” rating in a research report on Monday. HSBC cut UnitedHealth Group from a “buy” rating to a “hold” rating in a research note on Thursday, October 17th. UBS Group decreased their target price on UnitedHealth Group from $680.00 to $650.00 and set a “buy” rating for the company in a research report on Wednesday, October 16th. Finally, KeyCorp assumed coverage on shares of UnitedHealth Group in a report on Friday, October 11th. They set an “overweight” rating and a $675.00 price objective for the company. Three research analysts have rated the stock with a hold rating, eighteen have given a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $626.84.

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.