Penn Davis Mcfarland 13F: Cuts UnitedHealth (UNH) Stake by $1M

Penn Davis Mcfarland cut its holdings in UnitedHealth Group Incorporated (NYSE:UNH) by 2,777 shares during the quarter, according to a Form 13F filing filed with the SEC on October 23, 2026. The firm owned 136,259 shares previously and wrapped up the period with 133,482 shares. The remaining stake carried a value of approximately $48.9 million based on the filing date valuation.

UNH UnitedHealth Group Incorporated

$424.98 ▲ +28.83% year to date

1M 3M YTD

Daily close · Oct 22, 2026

What Changed in Penn Davis Mcfarland's UnitedHealth Group Position

Penn Davis Mcfarland trimmed its position by 2.0% during the period. The adjustment left the firm holding 133,482 shares of the healthcare provider.

Other Institutional Activity in UnitedHealth Group

Other institutional investors also adjusted their positions in UnitedHealth Group around the same time. Campbell Newman Asset Management grew its holdings by 2,163 shares, ending with 111,421 shares worth about $40.9 million. Pictet North America Advisors lifted its stake by 1,710 shares to hold 5,129 shares valued at roughly $1.9 million. Wilmington Savings Fund Society, FSB cut its holdings by 3,741 shares, finishing with 136,000 shares worth about $5.0 million. Simplicity Wealth, LLC reduced its stake by 12,048 shares, leaving it with 19,619 shares valued at approximately $7.2 million. Meanwhile, Global Strategic Investment Solutions closed out its position entirely by selling 522 shares.

UnitedHealth Group Incorporated Stock Up 0.2%

Shares of UnitedHealth Group closed at $418.09 on October 23, 2026, and recently traded around $418.01. The stock trades well above its 50-day moving average of $388.19 and sits below its 52-week high of $461.62.

Recent Earnings

UnitedHealth Group posted trailing twelve-month revenue of $450.06 billion with basic earnings of $15.55 per share. The company operates key segments including Optum Health, Optum Insight, Optum Rx, and UnitedHealthcare. Its next earnings report is scheduled for January 12, 2027.

Dividend

The company pays an annual dividend rate of $9.28 per share, giving it a dividend yield of 2.18% alongside a payout ratio of 57.6%.

Insider Buying and Selling at UnitedHealth Group Incorporated

Company insiders also transacted in the stock prior to the filing. Officer Patrick Hugh Conway sold 500 shares on August 5, 2026, at an average price of $410.00 for a total value of $205,000. Conway later sold 1,169 shares on August 21, 2026, at $390.00 per share, totaling $455,910.

Analysts Set New Price Targets

Wall Street firms updated their views on the stock ahead of the filing. On October 15, 2026, TD Cowen reiterated its hold rating with a price target of $402.00. Bernstein maintained its outperform rating on October 16, 2026, while adjusting its price target from $512.00 to $500.00. JP Morgan maintained an overweight rating on October 16, 2026, raising its target from $516.00 to $524.00. RBC Capital maintained an outperform rating on October 20, 2026, lifting its target from $478.00 to $498.00. Mizuho maintained an outperform rating on October 22, 2026, raising its target from $493.00 to $500.00. Overall, the stock carries a consensus buy rating and a mean price target of $478.12 across 25 analyst opinions.

About UnitedHealth Group

Headquartered in Eden Prairie, Minnesota, UnitedHealth Group operates as a diversified healthcare company. It provides care delivery, wellness programs, and health insurance plans across the United States and internationally through its major operating units.

Bottom Line

Institutional adjustments like the one from Penn Davis Mcfarland show how professional managers manage large equity portfolios. Investors will look toward the next earnings release on January 12, 2027, for further updates on the business.