Carret Asset Management LLC Increases Holdings in UnitedHealth Group Incorporated (NYSE:UNH)

Carret Asset Management LLC increased its stake in UnitedHealth Group Incorporated (NYSE:UNHGet Rating) by 5.0% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 6,604 shares of the healthcare conglomerate’s stock after purchasing an additional 316 shares during the quarter. Carret Asset Management LLC’s holdings in UnitedHealth Group were worth $3,368,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. State Street Corp grew its position in UnitedHealth Group by 1.9% during the fourth quarter. State Street Corp now owns 45,559,868 shares of the healthcare conglomerate’s stock worth $22,877,432,000 after buying an additional 869,827 shares in the last quarter. Capital International Investors grew its position in UnitedHealth Group by 4.3% during the fourth quarter. Capital International Investors now owns 19,342,468 shares of the healthcare conglomerate’s stock worth $9,713,058,000 after buying an additional 790,219 shares in the last quarter. Geode Capital Management LLC grew its position in UnitedHealth Group by 1.2% during the fourth quarter. Geode Capital Management LLC now owns 15,618,069 shares of the healthcare conglomerate’s stock worth $7,821,210,000 after buying an additional 189,864 shares in the last quarter. Alliancebernstein L.P. grew its position in UnitedHealth Group by 2.4% during the fourth quarter. Alliancebernstein L.P. now owns 11,015,163 shares of the healthcare conglomerate’s stock worth $5,531,154,000 after buying an additional 257,910 shares in the last quarter. Finally, Norges Bank purchased a new position in UnitedHealth Group during the fourth quarter worth about $4,478,185,000. Institutional investors own 87.48% of the company’s stock.

UNH opened at $489.68 on Thursday. UnitedHealth Group Incorporated has a one year low of $383.12 and a one year high of $553.29. The firm has a market capitalization of $459.40 billion, a price-to-earnings ratio of 26.80, a PEG ratio of 1.41 and a beta of 0.83. The business has a 50 day simple moving average of $496.56 and a two-hundred day simple moving average of $490.86. The company has a debt-to-equity ratio of 0.54, a current ratio of 0.78 and a quick ratio of 0.78.

UnitedHealth Group (NYSE:UNHGet Rating) last announced its earnings results on Thursday, April 14th. The healthcare conglomerate reported $5.49 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.40 by $0.09. UnitedHealth Group had a return on equity of 24.74% and a net margin of 5.86%. The firm had revenue of $80.15 billion during the quarter, compared to analyst estimates of $78.77 billion. During the same quarter in the prior year, the company earned $5.31 EPS. The business’s revenue was up 14.2% compared to the same quarter last year. As a group, sell-side analysts expect that UnitedHealth Group Incorporated will post 21.75 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 28th. Stockholders of record on Monday, June 20th will be given a $1.65 dividend. The ex-dividend date of this dividend is Thursday, June 16th. This represents a $6.60 annualized dividend and a dividend yield of 1.35%. This is a positive change from UnitedHealth Group’s previous quarterly dividend of $1.45. UnitedHealth Group’s dividend payout ratio is currently 36.12%.

In other UnitedHealth Group news, Director Frederick William Mcnabb III bought 89 shares of the business’s stock in a transaction on Thursday, May 26th. The shares were acquired at an average cost of $504.32 per share, for a total transaction of $44,884.48. Following the purchase, the director now owns 11,259 shares in the company, valued at approximately $5,678,138.88. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Richard T. Burke sold 2,500 shares of the stock in a transaction on Thursday, May 19th. The shares were sold at an average price of $478.96, for a total value of $1,197,400.00. Following the sale, the director now owns 1,215,000 shares in the company, valued at $581,936,400. The disclosure for this sale can be found here. Corporate insiders own 0.40% of the company’s stock.

A number of research firms have recently issued reports on UNH. Morgan Stanley upped their price objective on UnitedHealth Group from $570.00 to $577.00 and gave the stock an “overweight” rating in a report on Monday, April 18th. Barclays upped their price objective on UnitedHealth Group from $495.00 to $565.00 and gave the stock an “overweight” rating in a report on Wednesday, March 30th. Cowen upped their price objective on UnitedHealth Group from $512.00 to $596.00 in a report on Monday, April 18th. BMO Capital Markets upped their price objective on UnitedHealth Group from $510.00 to $600.00 and gave the stock a “market perform” rating in a report on Tuesday, April 19th. Finally, Royal Bank of Canada set a $563.00 target price on UnitedHealth Group and gave the company an “outperform” rating in a research note on Monday, April 18th. Three research analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $555.73.

UnitedHealth Group Profile (Get Rating)

UnitedHealth Group Incorporated operates as a diversified health care company in the United States. It 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 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; Medicaid plans, children's health insurance and health care programs; health and dental benefits; and hospital and clinical services.

Further Reading

Institutional Ownership by Quarter for UnitedHealth Group (NYSE:UNH)

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