UnitedHealth Group Inc (NYSE:UNH) announced a quarterly dividend on Wednesday, June 5th, RTT News reports. Stockholders of record on Monday, June 17th will be given a dividend of 1.08 per share by the healthcare conglomerate on Tuesday, June 25th. This represents a $4.32 annualized dividend and a dividend yield of 1.77%. The ex-dividend date is Friday, June 14th. This is a positive change from UnitedHealth Group’s previous quarterly dividend of $0.90.
UnitedHealth Group has raised its dividend payment by an average of 22.5% per year over the last three years and has raised its dividend every year for the last 9 years. UnitedHealth Group has a payout ratio of 34.0% meaning its dividend is sufficiently covered by earnings. Research analysts expect UnitedHealth Group to earn $16.63 per share next year, which means the company should continue to be able to cover its $4.32 annual dividend with an expected future payout ratio of 26.0%.
Shares of UNH stock traded down $2.33 during trading hours on Friday, hitting $244.01. The company had a trading volume of 6,199,748 shares, compared to its average volume of 4,909,266. The company has a market cap of $231.38 billion, a price-to-earnings ratio of 18.94, a price-to-earnings-growth ratio of 1.30 and a beta of 0.66. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.73 and a quick ratio of 0.73. UnitedHealth Group has a 12 month low of $208.07 and a 12 month high of $287.94. The stock’s fifty day moving average is $244.90.
In related news, Director Richard T. Burke sold 10,000 shares of the company’s stock in a transaction on Tuesday, June 11th. The shares were sold at an average price of $248.00, for a total value of $2,480,000.00. Following the completion of the sale, the director now owns 187,663 shares in the company, valued at approximately $46,540,424. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO David S. Wichmann acquired 20,000 shares of the stock in a transaction that occurred on Friday, May 3rd. The stock was purchased at an average price of $231.79 per share, with a total value of $4,635,800.00. Following the transaction, the chief executive officer now owns 904,367 shares in the company, valued at $209,623,226.93. The disclosure for this purchase can be found here. In the last three months, insiders sold 35,000 shares of company stock worth $8,392,500. 0.87% of the stock is currently owned by company insiders.
Several research analysts have issued reports on UNH shares. Zacks Investment Research raised UnitedHealth Group from a “hold” rating to a “buy” rating and set a $265.00 price objective on the stock in a report on Friday, May 17th. Citigroup raised UnitedHealth Group from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $247.00 to $280.00 in a report on Friday, May 10th. Raymond James reduced their price objective on UnitedHealth Group from $310.00 to $265.00 and set a “strong-buy” rating on the stock in a report on Wednesday, April 17th. Bank of America reaffirmed a “buy” rating and set a $290.00 price objective (down previously from $320.00) on shares of UnitedHealth Group in a report on Wednesday, April 17th. Finally, Morgan Stanley reduced their price objective on UnitedHealth Group from $315.00 to $285.00 and set an “overweight” rating on the stock in a report on Wednesday, April 17th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, eighteen have issued a buy rating and one has given a strong buy rating to the stock. The company presently has an average rating of “Buy” and an average price target of $290.84.
About UnitedHealth Group
UnitedHealth Group Incorporated operates as a diversified health care company in the United States. It operates through four segments: UnitedHealthcare, OptumHealth, OptumInsight, and OptumRx. 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 and well-being services to individuals age 50 and older, addressing their needs for preventive and acute health care services, as well as services dealing with chronic disease and other specialized issues for older individuals; and Medicaid plans, Children's Health Insurance Program, and health care programs; and health and dental benefits.
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