Canada Pension Plan Investment Board lifted its position in UnitedHealth Group Incorporated (NYSE:UNH) by 12.6% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 3,427,689 shares of the healthcare conglomerate’s stock after purchasing an additional 382,976 shares during the quarter. UnitedHealth Group comprises about 1.7% of Canada Pension Plan Investment Board’s holdings, making the stock its 7th biggest holding. Canada Pension Plan Investment Board owned approximately 0.36% of UnitedHealth Group worth $1,275,340,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently made changes to their positions in the stock. Norges Bank purchased a new position in UnitedHealth Group during the fourth quarter worth about $3,397,896,000. Viking Global Investors LP purchased a new position in UnitedHealth Group during the fourth quarter worth about $979,682,000. Price T Rowe Associates Inc. MD lifted its position in shares of UnitedHealth Group by 5.2% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 38,003,233 shares of the healthcare conglomerate’s stock worth $13,318,678,000 after purchasing an additional 1,881,407 shares in the last quarter. Fiera Capital Corp lifted its position in shares of UnitedHealth Group by 99.5% during the first quarter. Fiera Capital Corp now owns 2,137,018 shares of the healthcare conglomerate’s stock worth $795,120,000 after purchasing an additional 1,065,868 shares in the last quarter. Finally, Capital International Investors lifted its position in shares of UnitedHealth Group by 5.8% during the first quarter. Capital International Investors now owns 18,899,258 shares of the healthcare conglomerate’s stock worth $7,032,097,000 after purchasing an additional 1,040,094 shares in the last quarter. 86.16% of the stock is owned by hedge funds and other institutional investors.
Several analysts recently weighed in on the stock. BMO Capital Markets raised their target price on shares of UnitedHealth Group from $410.00 to $435.00 and gave the company a “market perform” rating in a report on Friday, April 16th. Morgan Stanley raised their target price on shares of UnitedHealth Group from $462.00 to $515.00 and gave the company an “overweight” rating in a report on Friday, April 16th. Seaport Res Ptn reissued a “buy” rating on shares of UnitedHealth Group in a report on Friday, July 9th. Bank of America raised their price objective on shares of UnitedHealth Group from $450.00 to $522.00 and gave the stock a “buy” rating in a report on Tuesday, June 1st. Finally, Barclays raised their price objective on shares of UnitedHealth Group from $435.00 to $465.00 and gave the stock an “overweight” rating in a report on Friday, July 16th. Three investment analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has given a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus target price of $443.74.
UnitedHealth Group (NYSE:UNH) last announced its earnings results on Wednesday, July 14th. The healthcare conglomerate reported $4.70 earnings per share for the quarter, beating the consensus estimate of $4.43 by $0.27. UnitedHealth Group had a net margin of 5.33% and a return on equity of 22.15%. The firm had revenue of $71.32 billion during the quarter, compared to the consensus estimate of $69.51 billion. During the same quarter in the previous year, the company posted $7.12 EPS. The firm’s revenue for the quarter was up 14.8% on a year-over-year basis. As a group, sell-side analysts anticipate that UnitedHealth Group Incorporated will post 18.71 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 29th. Shareholders of record on Monday, June 21st were issued a $1.45 dividend. This is a boost from UnitedHealth Group’s previous quarterly dividend of $1.25. The ex-dividend date was Friday, June 18th. This represents a $5.80 annualized dividend and a yield of 1.40%. UnitedHealth Group’s payout ratio is 34.36%.
In other news, Director Richard T. Burke sold 4,000 shares of the stock in a transaction on Monday, June 21st. The stock was sold at an average price of $398.62, for a total value of $1,594,480.00. Following the completion of the transaction, the director now owns 154,181 shares of the company’s stock, valued at $61,459,630.22. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CAO Thomas E. Roos sold 5,301 shares of the firm’s stock in a transaction dated Tuesday, April 27th. The shares were sold at an average price of $394.66, for a total value of $2,092,092.66. Following the transaction, the chief accounting officer now directly owns 58,589 shares of the company’s stock, valued at approximately $23,122,734.74. The disclosure for this sale can be found here. Insiders sold a total of 79,301 shares of company stock valued at $33,042,253 in the last 90 days. 0.80% of the stock is owned by company insiders.
About UnitedHealth Group
UnitedHealth Group, Inc engages in the provision of health care coverage, software, and data consultancy services. It operates through the following segments: UnitedHealthcare, OptumHealth, OptumInsight, and OptumRx. The UnitedHealthcare segment utilizes Optum’s capabilities to help coordinate patient care, improve affordability of medical care, analyze cost trends, manage pharmacy benefits, work with care providers more effectively, and create a simpler consumer experience.
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