Boone Capital Management LLC Acquires New Stake in UnitedHealth Group Incorporated $UNH

Boone Capital Management LLC bought a new stake in UnitedHealth Group Incorporated (NYSE:UNH) in the 2nd quarter, HoldingsChannel.com reports. The institutional investor bought 58,112 shares of the healthcare conglomerate’s stock, valued at approximately $18,129,000. UnitedHealth Group comprises approximately 7.8% of Boone Capital Management LLC’s portfolio, making the stock its 8th biggest holding.

A number of other institutional investors have also recently made changes to their positions in the business. LFA Lugano Financial Advisors SA purchased a new position in UnitedHealth Group in the 2nd quarter valued at approximately $25,000. Bayforest Capital Ltd grew its stake in UnitedHealth Group by 685.7% during the 1st quarter. Bayforest Capital Ltd now owns 55 shares of the healthcare conglomerate’s stock worth $29,000 after purchasing an additional 48 shares in the last quarter. Sagard Holdings Management Inc. purchased a new stake in UnitedHealth Group during the 2nd quarter worth about $29,000. Islay Capital Management LLC purchased a new position in shares of UnitedHealth Group in the 2nd quarter valued at about $31,000. Finally, Kilter Group LLC purchased a new stake in shares of UnitedHealth Group during the second quarter worth approximately $34,000. Institutional investors and hedge funds own 87.86% of the company’s stock.

UnitedHealth Group Stock Up 1.5%

UNH stock opened at $341.83 on Friday. UnitedHealth Group Incorporated has a one year low of $234.60 and a one year high of $606.36. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.82 and a current ratio of 0.82. The company has a fifty day moving average of $339.84 and a 200-day moving average of $316.91. The stock has a market capitalization of $309.65 billion, a PE ratio of 17.84, a price-to-earnings-growth ratio of 2.20 and a beta of 0.43.

UnitedHealth Group (NYSE:UNH) last announced its quarterly earnings data on Tuesday, October 28th. The healthcare conglomerate reported $2.92 EPS for the quarter, beating analysts’ consensus estimates of $2.87 by $0.05. UnitedHealth Group had a net margin of 4.04% and a return on equity of 19.23%. The firm had revenue of $113.16 billion during the quarter, compared to the consensus estimate of $113.19 billion. During the same quarter last year, the firm earned $7.15 earnings per share. The firm’s revenue was up 12.2% compared to the same quarter last year. As a group, analysts expect that UnitedHealth Group Incorporated will post 29.54 EPS for the current year.

UnitedHealth Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 16th. Shareholders of record on Monday, December 8th will be given a $2.21 dividend. The ex-dividend date is Monday, December 8th. This represents a $8.84 annualized dividend and a yield of 2.6%. UnitedHealth Group’s dividend payout ratio is presently 46.14%.

Analyst Ratings Changes

A number of equities research analysts have commented on UNH shares. Truist Financial increased their price objective on shares of UnitedHealth Group from $310.00 to $365.00 and gave the company a “buy” rating in a research report on Tuesday, September 9th. UBS Group increased their target price on UnitedHealth Group from $378.00 to $430.00 and gave the company a “buy” rating in a report on Wednesday, October 29th. Zacks Research raised UnitedHealth Group from a “strong sell” rating to a “hold” rating in a research report on Monday, October 6th. KeyCorp boosted their target price on UnitedHealth Group from $350.00 to $400.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 8th. Finally, Bank of America raised their price objective on shares of UnitedHealth Group from $350.00 to $390.00 and gave the stock a “neutral” rating in a report on Wednesday, October 8th. Seventeen research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $385.54.

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.