Healthcare of Ontario Pension Plan Trust Fund lifted its position in UnitedHealth Group Incorporated (NYSE:UNH – Free Report) by 5.7% during the 1st quarter, Holdings Channel.com reports. The institutional investor owned 306,895 shares of the healthcare conglomerate’s stock after buying an additional 16,526 shares during the quarter. Healthcare of Ontario Pension Plan Trust Fund’s holdings in UnitedHealth Group were worth $83,043,000 at the end of the most recent quarter.
Several other hedge funds have also made changes to their positions in the business. Brighton Jones LLC grew its stake in UnitedHealth Group by 176.2% during the 4th quarter. Brighton Jones LLC now owns 44,249 shares of the healthcare conglomerate’s stock worth $22,384,000 after purchasing an additional 28,231 shares in the last quarter. Revolve Wealth Partners LLC increased its position in shares of UnitedHealth Group by 137.1% in the 4th quarter. Revolve Wealth Partners LLC now owns 4,019 shares of the healthcare conglomerate’s stock valued at $2,033,000 after purchasing an additional 2,324 shares during the last quarter. CMT Capital Markets Trading GmbH purchased a new stake in shares of UnitedHealth Group during the 2nd quarter worth $340,000. Flow Traders U.S. LLC purchased a new position in UnitedHealth Group in the second quarter valued at $356,000. Finally, Jump Financial LLC purchased a new position in shares of UnitedHealth Group in the 2nd quarter valued at about $377,000. Institutional investors and hedge funds own 87.86% of the company’s stock.
UnitedHealth Group Price Performance
UnitedHealth Group stock opened at $420.40 on Friday. The company has a quick ratio of 0.80, a current ratio of 0.78 and a debt-to-equity ratio of 0.66. The firm’s 50-day simple moving average is $408.00 and its 200 day simple moving average is $345.60. UnitedHealth Group Incorporated has a 52 week low of $234.60 and a 52 week high of $461.62. The firm has a market capitalization of $381.78 billion, a PE ratio of 27.05, a P/E/G ratio of 1.46 and a beta of 0.62.
UnitedHealth Group Increases Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 23rd. Stockholders of record on Monday, June 15th were given a $2.32 dividend. This is an increase from UnitedHealth Group’s previous quarterly dividend of $2.21. This represents a $9.28 dividend on an annualized basis and a dividend yield of 2.2%. The ex-dividend date of this dividend was Monday, June 15th. UnitedHealth Group’s dividend payout ratio (DPR) is presently 59.72%.
Analyst Ratings Changes
UNH has been the subject of several recent analyst reports. Leerink Partners boosted their price objective on shares of UnitedHealth Group from $400.00 to $462.00 and gave the stock an “outperform” rating in a research report on Wednesday, June 17th. Wells Fargo & Company raised their price objective on UnitedHealth Group from $397.00 to $485.00 and gave the stock an “overweight” rating in a report on Monday, July 13th. Piper Sandler set a $477.00 target price on UnitedHealth Group in a report on Thursday, July 16th. Oppenheimer raised their target price on shares of UnitedHealth Group from $420.00 to $500.00 and gave the stock an “outperform” rating in a research report on Friday, July 17th. Finally, HC Wainwright set a $492.00 price objective on shares of UnitedHealth Group in a research note on Wednesday, May 27th. Two analysts have rated the stock with a Strong Buy rating, twenty have issued a Buy rating and five have issued a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $455.92.
Key UnitedHealth Group News
Here are the key news stories impacting UnitedHealth Group this week:
- Positive Sentiment: UnitedHealth’s latest quarter beat profit estimates and management raised full-year earnings guidance, reinforcing confidence that the business is recovering after earlier pressure. UnitedHealth’s earnings comeback hides risk Wall Street can’t price
- Positive Sentiment: JPMorgan reportedly increased its price target on UNH to $516, suggesting analysts see further upside following the improved earnings outlook. JPMorgan Chase & Co. Increases UnitedHealth Group (NYSE:UNH) Price Target to $516.00
- Positive Sentiment: UNH has also been highlighted in multiple stock-screening and momentum pieces as a “buy” or strong momentum name, which can add to near-term trading interest. Is Trending Stock UnitedHealth Group Incorporated (UNH) a Buy Now?
- Neutral Sentiment: UnitedHealth is being widely watched by retail and institutional investors after the strong quarter, but some of the recent articles are primarily commentary rather than new company-specific developments. Is Trending Stock UnitedHealth Group Incorporated (UNH) a Buy Now?
- Negative Sentiment: Even with the upbeat earnings update, investors are still focused on risk factors such as medical cost inflation and margin pressure across the managed-care sector, which could limit how far the rally extends. Can Humana Beat Q2 Earnings Estimates on Growing Premiums?
About UnitedHealth Group
UnitedHealth Group Inc is a diversified health care company headquartered in Minnetonka, Minnesota, that operates two primary business platforms: UnitedHealthcare and Optum. Founded in 1977, the company provides a broad range of health benefits and health care services to individuals, employers, governmental entities and other organizations. Its operations span commercial employer-sponsored plans, individual and Medicare and Medicaid programs, and services for customers and health systems in the United States and selected international markets.
UnitedHealthcare is the company’s benefits business, administering health plans and networks, managing provider relationships, and offering coverage products for employers, individuals, and government-sponsored programs.
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