CANADA LIFE ASSURANCE Co Has $546.64 Million Stake in UnitedHealth Group Incorporated (NYSE:UNH)

CANADA LIFE ASSURANCE Co decreased its stake in shares of UnitedHealth Group Incorporated (NYSE:UNH) by 1.6% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 1,079,995 shares of the healthcare conglomerate’s stock after selling 17,850 shares during the period. UnitedHealth Group accounts for about 0.9% of CANADA LIFE ASSURANCE Co’s holdings, making the stock its 15th largest position. CANADA LIFE ASSURANCE Co’s holdings in UnitedHealth Group were worth $546,642,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Western Pacific Wealth Management LP boosted its stake in UnitedHealth Group by 2.2% in the fourth quarter. Western Pacific Wealth Management LP now owns 902 shares of the healthcare conglomerate’s stock valued at $456,000 after acquiring an additional 19 shares during the last quarter. MCF Advisors LLC lifted its stake in UnitedHealth Group by 0.8% in the fourth quarter. MCF Advisors LLC now owns 2,578 shares of the healthcare conglomerate’s stock valued at $1,304,000 after purchasing an additional 20 shares during the last quarter. Axiom Financial Strategies LLC increased its position in UnitedHealth Group by 3.6% in the fourth quarter. Axiom Financial Strategies LLC now owns 575 shares of the healthcare conglomerate’s stock worth $291,000 after buying an additional 20 shares during the last quarter. Richwood Investment Advisors LLC grew its stake in shares of UnitedHealth Group by 0.4% during the 4th quarter. Richwood Investment Advisors LLC now owns 5,247 shares of the healthcare conglomerate’s stock worth $2,654,000 after acquiring an additional 20 shares during the period. Finally, Prentice Wealth Management LLC lifted its holdings in UnitedHealth Group by 0.8% during the fourth quarter. Prentice Wealth Management LLC now owns 2,527 shares of the healthcare conglomerate’s stock valued at $1,278,000 after purchasing an additional 21 shares during the last quarter. 87.86% of the stock is currently owned by institutional investors and hedge funds.

UnitedHealth Group Stock Up 0.3 %

Shares of UnitedHealth Group stock opened at $585.30 on Thursday. The stock has a market capitalization of $535.38 billion, a price-to-earnings ratio of 37.76, a P/E/G ratio of 1.37 and a beta of 0.61. UnitedHealth Group Incorporated has a 52-week low of $438.50 and a 52-week high of $630.73. The company has a debt-to-equity ratio of 0.74, a quick ratio of 0.91 and a current ratio of 0.83. The company’s 50 day moving average price is $516.05 and its 200-day moving average price is $542.41.

UnitedHealth Group (NYSE:UNH) last announced its quarterly earnings results on Thursday, January 16th. The healthcare conglomerate reported $6.81 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $6.74 by $0.07. The company had revenue of $100.81 billion for the quarter, compared to the consensus estimate of $101.60 billion. UnitedHealth Group had a return on equity of 26.69% and a net margin of 3.60%. UnitedHealth Group’s revenue was up 6.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned $5.83 EPS. Equities research analysts forecast that UnitedHealth Group Incorporated will post 29.54 EPS for the current year.

UnitedHealth Group Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, March 18th. Investors of record on Monday, March 10th were issued a $2.10 dividend. This represents a $8.40 annualized dividend and a yield of 1.44%. The ex-dividend date was Monday, March 10th. UnitedHealth Group’s dividend payout ratio (DPR) is currently 54.19%.

Insiders Place Their Bets

In related news, Director Timothy Patrick Flynn acquired 1,000 shares of the stock in a transaction on Friday, January 17th. The stock was acquired at an average cost of $511.57 per share, for a total transaction of $511,570.00. Following the completion of the acquisition, the director now directly owns 4,500 shares of the company’s stock, valued at approximately $2,302,065. This represents a 28.57 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.33% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on UNH shares. Piper Sandler dropped their price target on shares of UnitedHealth Group from $605.00 to $600.00 and set an “overweight” rating on the stock in a research note on Thursday, January 2nd. Mizuho lifted their price target on UnitedHealth Group from $600.00 to $650.00 and gave the company an “outperform” rating in a research report on Wednesday, April 9th. Hsbc Global Res raised UnitedHealth Group from a “hold” rating to a “strong-buy” rating in a report on Friday, January 10th. Wells Fargo & Company cut their price objective on shares of UnitedHealth Group from $694.00 to $660.00 and set an “overweight” rating for the company in a research report on Tuesday, January 28th. Finally, Truist Financial increased their target price on shares of UnitedHealth Group from $610.00 to $660.00 and gave the stock a “buy” rating in a research note on Friday, April 11th. Twenty-one investment analysts have rated the stock with a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average price target of $632.85.

About UnitedHealth Group

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.