McGinn Penninger Investment Management Inc. Makes New Investment in UnitedHealth Group Incorporated $UNH

McGinn Penninger Investment Management Inc. purchased a new stake in UnitedHealth Group Incorporated (NYSE:UNH) in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 8,285 shares of the healthcare conglomerate’s stock, valued at approximately $2,585,000. UnitedHealth Group comprises approximately 1.6% of McGinn Penninger Investment Management Inc.’s portfolio, making the stock its 24th largest holding.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Bayforest Capital Ltd grew its holdings in UnitedHealth Group by 685.7% during the 1st quarter. Bayforest Capital Ltd now owns 55 shares of the healthcare conglomerate’s stock valued at $29,000 after buying an additional 48 shares during the last quarter. Clal Insurance Enterprises Holdings Ltd raised its stake in shares of UnitedHealth Group by 416.7% in the 1st quarter. Clal Insurance Enterprises Holdings Ltd now owns 62 shares of the healthcare conglomerate’s stock valued at $32,000 after acquiring an additional 50 shares during the period. Glass Jacobson Investment Advisors llc raised its stake in shares of UnitedHealth Group by 80.9% in the 2nd quarter. Glass Jacobson Investment Advisors llc now owns 123 shares of the healthcare conglomerate’s stock valued at $38,000 after acquiring an additional 55 shares during the period. Kentucky Trust Co increased its stake in UnitedHealth Group by 53.8% during the 2nd quarter. Kentucky Trust Co now owns 143 shares of the healthcare conglomerate’s stock worth $45,000 after buying an additional 50 shares during the period. Finally, Cloud Capital Management LLC bought a new stake in shares of UnitedHealth Group in the 1st quarter worth about $53,000. 87.86% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms have recently commented on UNH. UBS Group lifted their price target on shares of UnitedHealth Group from $378.00 to $430.00 and gave the company a “buy” rating in a report on Wednesday, October 29th. Royal Bank Of Canada upped their price target on shares of UnitedHealth Group from $286.00 to $408.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 29th. Sanford C. Bernstein increased their target price on shares of UnitedHealth Group from $433.00 to $440.00 and gave the company an “outperform” rating in a research note on Thursday, October 30th. Bank of America boosted their price target on shares of UnitedHealth Group from $350.00 to $390.00 and gave the company a “neutral” rating in a report on Wednesday, October 8th. Finally, Truist Financial upped their price objective on shares of UnitedHealth Group from $310.00 to $365.00 and gave the company a “buy” rating in a research note on Tuesday, September 9th. Eighteen analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and three have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $397.12.

UnitedHealth Group Trading Down 2.3%

UNH opened at $333.87 on Tuesday. UnitedHealth Group Incorporated has a 1-year low of $234.60 and a 1-year high of $630.73. The firm has a 50-day moving average price of $344.08 and a two-hundred day moving average price of $324.95. The company has a current ratio of 0.82, a quick ratio of 0.85 and a debt-to-equity ratio of 0.71. The stock has a market capitalization of $302.43 billion, a PE ratio of 17.43, a PEG ratio of 2.28 and a beta of 0.47.

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

UnitedHealth Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 23rd. Investors of record on Monday, September 15th were given a dividend of $2.21 per share. The ex-dividend date of this dividend was Monday, September 15th. This represents a $8.84 annualized dividend and a yield of 2.6%. UnitedHealth Group’s dividend payout ratio is currently 46.14%.

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.